Common use of Use of Deposit Clause in Contracts

Use of Deposit. The Seller shall use, and Banro shall cause to be used, the Deposit only to pay accrued and unpaid dividends as of the last payment date on or prior to the date of receipt by the Seller of the Deposit on preferred shares in the capital of Banro Group (Barbados) Limited and the Series A preferred shares in the capital of Banro, to repay the notes issued pursuant to the backstop facility dated August 18, 2014, bank indebtedness and accounts payable and thereafter, general corporate purposes.