Common use of Use of Credit Clause in Contracts

Use of Credit. No Group Member is engaged principally, or as one of its important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying Margin Stock, and no part of the proceeds of any extension of credit hereunder will be used to buy or carry any Margin Stock.

Appears in 11 contracts

Sources: Credit Agreement (Griffon Corp), Credit Agreement (Griffon Corp), Credit Agreement (Griffon Corp)

Use of Credit. No None of the Group Member Members is engaged principally, or as one of its important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying Margin Stock, and no part of the proceeds of any extension of credit hereunder will be used to buy or carry any Margin Stock.Stock in violation of the applicable provisions of Regulations G, U and X.

Appears in 1 contract

Sources: Credit Agreement (Fabrene Group Inc)

Use of Credit. No None of the Group Member Members is engaged principally, or as one of its important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying Margin Stock, and no part of the proceeds of any extension of credit hereunder will be used to buy or carry any Margin Stock.Stock in violation of the applicable provisions of Regulations U and X.

Appears in 1 contract

Sources: Credit Agreement (Polymer Group Inc)