Common use of Use of Proceeds and Letters of Credit Clause in Contracts

Use of Proceeds and Letters of Credit. The Borrower will use the proceeds of all Loans to refinance existing indebtedness, to finance permitted acquisitions and investments, to pay related fees and expenses, and to provide for working capital needs and for other general business purposes of the Borrower and its Subsidiaries. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that would violate any rule or regulation of the Board of Governors of the Federal Reserve System, including Regulations T, U or X. All Letters of Credit will be used for general business purposes.

Appears in 4 contracts

Sources: Revolving Credit Agreement (ONEOK Partners LP), Revolving Credit Agreement (Northern Border Pipeline Co), Revolving Credit Agreement (Northern Border Partners Lp)

Use of Proceeds and Letters of Credit. The Borrower will use the proceeds of all Loans to refinance existing indebtednessIndebtedness, to finance permitted acquisitions and investments, to pay related fees and expenses, and to provide for working capital needs and for other general business corporate purposes of the Borrower and its Subsidiaries, including without limitation, to purchase, redeem or otherwise retire Capital Stock of the Borrower or to make Permitted Acquisitions. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that would violate any rule or regulation of the Board of Governors of the Federal Reserve System, including Regulations T, U or X. All Letters of Credit will be used for general business corporate purposes.

Appears in 3 contracts

Sources: Revolving Credit Agreement (International Speedway Corp), Revolving Credit Agreement (International Speedway Corp), Revolving Credit Agreement (International Speedway Corp)

Use of Proceeds and Letters of Credit. The Borrower will use the proceeds of all Loans to refinance existing indebtedness, Indebtedness on the Closing Date and thereafter to finance permitted acquisitions and investments, to pay related fees and expenses, and to provide for working capital needs needs, Capital Expenditures, acquisitions and for other general business corporate purposes of the Borrower and its Subsidiaries. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that would violate any rule or regulation of the Board of Governors of the Federal Reserve System, including Regulations T, U or X. All Letters of Credit will be used for general business corporate purposes.

Appears in 3 contracts

Sources: Revolving Credit Agreement (Watsco Inc), Revolving Credit Agreement (Watsco Inc), Revolving Credit Agreement (Watsco Inc)

Use of Proceeds and Letters of Credit. The Borrower will use the proceeds of all Loans to refinance existing indebtednessIndebtedness on the Closing Date, to finance permitted acquisitions and investments, to pay related fees and expenses, and to provide for working capital needs needs, permitted acquisitions, capital expenditures and for other general business corporate purposes of the Borrower and its Subsidiaries. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that would violate any rule or regulation of the Board of Governors of the Federal Reserve System, including Regulations T, U or X. All Letters of Credit will be used for general business corporate purposes.

Appears in 2 contracts

Sources: Revolving Credit Agreement (Heico Corp), Revolving Credit Agreement (Heico Corp)

Use of Proceeds and Letters of Credit. The Borrower will use the proceeds of all Loans to refinance existing indebtedness, to finance permitted acquisitions and investments, to pay related fees and expenses, and to provide for working capital needs and for other general business corporate purposes of the Borrower and its Subsidiaries, including, but not limited to, the use of Letters of Credit to guarantee performance of fee refund provisions under contracts entered into by Borrower with health plans. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that would violate any rule or regulation of the Board of Governors of the Federal Reserve System, including Regulations T, U or X. All Letters of Credit will be used for general business corporate purposes.

Appears in 2 contracts

Sources: Revolving Credit Agreement (American Healthways Inc), Revolving Credit Agreement (American Healthways Inc)

Use of Proceeds and Letters of Credit. The Borrower will use the proceeds of all Loans to refinance existing indebtedness, to finance permitted acquisitions and investmentsacquisitions, to pay related fees and expenses, to issue Letters of Credit and to provide for working capital needs and for other general business purposes of the Borrower and its Subsidiaries, including capital expenditures. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that would violate any rule or regulation of the Board of Governors of the Federal Reserve System, including Regulations T, U or X. All Letters of Credit will be used for general business purposes.

Appears in 2 contracts

Sources: Revolving Credit Agreement (Tc Pipelines Lp), Revolving Credit Agreement (Northern Border Pipeline Co)

Use of Proceeds and Letters of Credit. The Borrower will use the proceeds of all Loans to refinance existing indebtednessIndebtedness, to fund Permitted Acquisitions, finance permitted acquisitions and investments, to pay related fees and expenses, and to provide for working capital needs and capital expenditures and for other general business corporate purposes of the Borrower and its Subsidiaries. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that would violate any rule or regulation of the Board of Governors of the Federal Reserve System, including Regulations T, U or X. All Letters of Credit will be used for general business corporate purposes.

Appears in 2 contracts

Sources: Revolving Credit and Term Loan Agreement (Catalyst Health Solutions, Inc.), Revolving Credit and Term Loan Agreement (Catalyst Health Solutions, Inc.)

Use of Proceeds and Letters of Credit. The Borrower will use the proceeds of all Loans to refinance existing indebtedness, to finance permitted acquisitions and investments, to pay related fees and expenses, and to provide for working capital needs needs, capital expenditures, the repurchase of the common stock of Borrower and for other general business corporate purposes of the Borrower and its Subsidiaries. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that would violate any rule or regulation of the Board of Governors of the Federal Reserve System, including Regulations T, U or X. All Letters of Credit will be used for general business corporate purposes.

Appears in 1 contract

Sources: Revolving Credit Loan Agreement (Lone Star Steakhouse & Saloon Inc)

Use of Proceeds and Letters of Credit. The Borrower will use the proceeds of all Loans to refinance existing indebtedness, debt on the Closing Date and thereafter to finance permitted acquisitions and investments, to pay related fees and expenses, and to provide for working capital needs needs, acquisitions contemplated under Section 7.4, capital expenditures and for other general business corporate purposes of the Borrower and its Subsidiaries. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that would violate any rule or regulation of the Board of Governors of the Federal Reserve System, including Regulations T, U or X. All Letters of Credit will be used for general business corporate purposes.

Appears in 1 contract

Sources: Revolving Credit Agreement (Ndchealth Corp)

Use of Proceeds and Letters of Credit. The Borrower will use the proceeds of all Loans to refinance existing indebtednessfinance working capital needs, to finance fund permitted acquisitions and investments(including the remaining assets of ▇▇▇▇▇▇ ▇▇▇▇▇ LLP), to pay related fees make Permitted Investments and expensesstock repurchases, and to provide for working capital needs and for other general business corporate purposes of the Borrower and its Subsidiaries. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that would violate any rule or regulation of the Board of Governors of the Federal Reserve System, including Regulations T, U or X. All Letters of Credit will be used for general business corporate purposes.

Appears in 1 contract

Sources: Revolving Credit Agreement (Watson Wyatt & Co Holdings)

Use of Proceeds and Letters of Credit. The Borrower will use the proceeds of all Loans to refinance existing indebtednessdebt on the Closing Date, to finance permitted acquisitions and investments, to pay related fees and expenses, and to provide for working capital needs needs, fund permitted acquisitions, make Permitted Investments and stock repurchases, and for other general business corporate purposes of the Borrower and its Subsidiaries. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that would violate any rule or regulation of the Board of Governors of the Federal Reserve System, including Regulations T, U or X. All Letters of Credit will be used for general business corporate purposes.

Appears in 1 contract

Sources: Revolving Credit Agreement (Watson Wyatt & Co Holdings)

Use of Proceeds and Letters of Credit. The Borrower will use the proceeds of the Revolving Loan to (a) payoff any and all Loans Indebtedness owed by Borrower to refinance existing indebtedness, to Compass Bank and (b) finance permitted acquisitions and investments, to pay related fees and expenses, and to provide for working capital needs and for other general business corporate purposes of the Borrower and its SubsidiariesBorrower. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that would violate any rule or regulation of the Board of Governors of the Federal Reserve System, including Regulations T, U or X. All Letters of Credit will be used for general business corporate purposes.

Appears in 1 contract

Sources: Revolving Credit Loan Agreement (Central Freight Lines Inc/Tx)

Use of Proceeds and Letters of Credit. The Borrower will use the proceeds of all Loans to refinance existing indebtedness, to finance permitted acquisitions and investments, to pay related fees and expenses, and to provide for working capital needs needsand for investments permitted hereby,including the GLGT Acquisition, and for other general business corporate purposes of the Borrower and its Subsidiaries. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that would violate any rule or regulation of the Board of Governors of the Federal Reserve System, including Regulations T, U or X. All Letters of Credit will be used for general business corporate purposes.

Appears in 1 contract

Sources: Revolving Credit and Term Loan Agreement (Tc Pipelines Lp)

Use of Proceeds and Letters of Credit. The Borrower will use the proceeds of all Loans to refinance existing indebtednessIndebtedness on the Closing Date, to finance permitted acquisitions and investments, to pay related fees and expenses, and to provide for working capital needs needs, Permitted Acquisitions, capital expenditures and for other general business corporate purposes of the Borrower and its Subsidiaries. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that would violate any rule or regulation of the Board of Governors of the Federal Reserve System, including Regulations T, U or X. All Letters of Credit will be used for general business corporate purposes.

Appears in 1 contract

Sources: Revolving Credit Agreement (United Industrial Corp /De/)

Use of Proceeds and Letters of Credit. The Borrower will use the proceeds of all Loans to refinance existing indebtednessconsummate the Refinancing, to finance permitted acquisitions and investments, to pay related fees and expenses, and to provide for working capital needs needs, capital expenditures, Permitted Bond Payments and for other general business corporate purposes of the Borrower and its Subsidiaries. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that would violate any rule or regulation of the Board of Governors of the Federal Reserve System, including Regulations T, U or X. All Letters of Credit will be used for working capital needs and other general business corporate purposes.

Appears in 1 contract

Sources: Revolving Credit Agreement (JLG Industries Inc)