Common use of Use of Proceeds; Margin Stock Clause in Contracts

Use of Proceeds; Margin Stock. The Borrower shall use the proceeds of the Revolving Credit for its general working capital purposes and for such other legal and proper purposes as are consistent with all applicable laws. Neither the Borrower nor any Subsidiary is engaged in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulation U of the Board of Governors of the Federal Reserve System), and no part of the proceeds of any Loan or any other extension of credit made hereunder will be used to purchase or carry any such margin stock or to extend credit to others for the purpose of purchasing or carrying any such margin stock. Margin stock (as hereinabove defined) constitutes less than 25% of the assets of the Borrower and its Subsidiaries which are subject to any limitation on sale, pledge or other restriction hereunder.

Appears in 7 contracts

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

Use of Proceeds; Margin Stock. The Borrower shall use the proceeds of the Revolving Credit for refinancing its existing indebtedness, for its general working capital purposes and for such other legal and proper purposes as are consistent with all applicable laws. Neither the The Borrower nor any Subsidiary is not engaged in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulation U of the Board of Governors of the Federal Reserve System), and no part of the proceeds of any Loan or any other extension of credit made hereunder will be used to purchase or carry any such margin stock or to extend credit to others for the purpose of purchasing or carrying any such margin stock. Margin stock (as hereinabove defined) constitutes less than 25% of the assets of the Borrower and its Subsidiaries which are subject to any limitation on sale, pledge or other restriction hereunder.

Appears in 3 contracts

Sources: Credit Agreement (LTC Properties Inc), Credit Agreement (LTC Properties Inc), Credit Agreement (LTC Properties Inc)

Use of Proceeds; Margin Stock. The Borrower shall use the proceeds of the Revolving Credit for refinancing its existing indebtedness, for its general working capital purposes and for such other legal and proper purposes as are consistent with all applicable laws. Neither the The Borrower nor any Subsidiary is not engaged in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulation U of the Board of Governors of the Federal Reserve System), and no part of the proceeds of any Revolving Loan or any other extension of credit made hereunder will be used to purchase or carry any such margin stock or to extend credit to others for the purpose of purchasing or carrying any such margin stock. Margin stock (as hereinabove defined) constitutes less than 25% of the assets of the Borrower and its Subsidiaries which are subject to any limitation on sale, pledge or other restriction hereunder.

Appears in 2 contracts

Sources: Credit Agreement (LTC Properties Inc), Credit Agreement (LTC Properties Inc)

Use of Proceeds; Margin Stock. The Borrower shall use the proceeds of the Revolving Credit for its general to fund acquisitions, to finance capital expenditures and working capital purposes capital, and for such other legal and proper purposes as are consistent with all applicable lawsgeneral corporate purposes. Neither the Borrower nor any Subsidiary Guarantor is engaged in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulation U of the Board of Governors of the Federal Reserve System), and no part of the proceeds of any Loan or any other extension of credit made hereunder will be used to purchase or carry any such margin stock or to extend credit to others for the purpose of purchasing or carrying any such margin stock. Margin stock (as hereinabove defined) constitutes less than 25% of the assets of the Borrower and its Subsidiaries which are subject to any limitation on sale, pledge or other restriction hereunderthe Guarantors.

Appears in 2 contracts

Sources: Credit Agreement (American Realty Capital - Retail Centers of America, Inc.), Credit Agreement (American Realty Capital - Retail Centers of America, Inc.)

Use of Proceeds; Margin Stock. The Borrower shall use the proceeds of credit extended under this Agreement solely for the Revolving Credit for its general working capital purposes and for such other legal and proper purposes as are consistent with all applicable lawsset forth in, or otherwise permitted by, Section 8.19 hereof. Neither the Borrower nor any Subsidiary is engaged in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulation U of the Board of Governors of the Federal Reserve System), and no part of the proceeds of any Loan or any other extension of credit made hereunder will be used to purchase or carry any such margin stock or to extend credit to others for the purpose of purchasing or carrying any such margin stock. Margin stock (as hereinabove defined) constitutes less than 25% of the assets of the Borrower and its Subsidiaries which are subject to any limitation on sale, pledge or other restriction hereunder.

Appears in 2 contracts

Sources: Post Petition Credit Agreement (Pilgrims Pride Corp), Post Petition Credit Agreement (Pilgrims Pride Corp)

Use of Proceeds; Margin Stock. The Borrower shall use the proceeds of the Revolving Credit for refinancing its existing indebtedness, for its general working capital purposes and for such other legal and proper purposes as are consistent with all applicable laws. Neither the Borrower nor any Subsidiary is engaged in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulation U of the Board of Governors of the Federal Reserve System), and no part of the proceeds of any Loan or any other extension of credit made hereunder will be used to purchase or carry any such margin stock or to extend credit to others for the purpose of purchasing or carrying any such margin stock. Margin stock (as hereinabove defined) constitutes less than 25% of the assets of the Borrower and its Subsidiaries which are subject to any limitation on sale, pledge or other restriction hereunder.

Appears in 2 contracts

Sources: Credit Agreement (LTC Properties Inc), Credit Agreement (LTC Properties Inc)

Use of Proceeds; Margin Stock. The Borrower shall use the proceeds of the Revolving Credit Loans for the purpose of financing the ITI Marketing Acquisition, refinancing existing indebtedness and for its general working capital purposes and for such other legal and proper purposes as are consistent with all applicable lawscorporate purposes. Neither the Borrower nor any Subsidiary is engaged in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulation U of the Board of Governors of the Federal Reserve System), and no part of the proceeds of any Loan or any other extension of credit made hereunder will be used to purchase or carry any such margin stock or to extend credit to others for the purpose of purchasing or carrying any such margin stock. Margin stock (as hereinabove defined) constitutes less than 25% of the those assets of the Borrower and its Subsidiaries which are subject to any limitation on sale, pledge pledge, or other restriction hereunder.

Appears in 2 contracts

Sources: Credit Agreement (Apac Teleservices Inc), Credit Agreement (Apac Teleservices Inc)

Use of Proceeds; Margin Stock. The Borrower Borrowers shall use the proceeds of the Revolving Credit for its their general working capital purposes and for such other legal and proper purposes as are consistent with all applicable laws. Neither the a Borrower nor any Subsidiary is engaged in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulation U of the Board of Governors of the Federal Reserve System), and no part of the proceeds of any Loan or any other extension of credit made hereunder will be used to purchase or carry any such margin stock or to extend credit to others for the purpose of purchasing or carrying any such margin stock. Margin stock (as hereinabove defined) constitutes less than 25% of the assets of the Borrower Company and its Subsidiaries which are subject to any limitation on sale, pledge or other restriction hereunder.

Appears in 1 contract

Sources: Credit Agreement (CTS Corp)

Use of Proceeds; Margin Stock. The Borrower shall use the proceeds of Operating Line Revolving Loans for the Revolving Credit for its general working capital purposes and for such other legal and proper purposes as are consistent with all applicable lawsdescribed in Section 2.1 above. Neither the Borrower nor any Subsidiary is engaged engaged, principally or as one of its important activities, in the business of purchasing or carrying margin stock or in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulation U of the Board of Governors of the Federal Reserve System), and no part of the proceeds of any Loan or any other extension of credit made hereunder will be used to purchase or carry any such margin stock or to extend credit to others for the purpose of purchasing or carrying any such margin stock. Margin stock (as hereinabove defined) constitutes less than 25% of the assets of the Borrower and its Subsidiaries which are subject to any limitation on sale, pledge or other restriction hereunder.

Appears in 1 contract

Sources: Credit Agreement (Air T Inc)

Use of Proceeds; Margin Stock. The Borrower Borrowers shall use the proceeds of the Revolving Credit Loans made available hereunder for its general working capital purposes purposes, for financing Permitted Acquisitions, and for such other legal and proper purposes as are consistent with this Agreement and all applicable laws. Neither the Borrower nor any Subsidiary No Credit Party is engaged in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulation U of the Board of Governors of the Federal Reserve System), and no part of the proceeds of any Loan or any other extension of credit made hereunder will be used to purchase or carry any such margin stock or to extend credit to others for the purpose of purchasing or carrying any such margin stock. Margin stock (as hereinabove defined) constitutes less than 25% of the those assets of the Borrower and its Subsidiaries Credit Parties which are subject to any limitation on sale, pledge pledge, or other restriction hereunder.

Appears in 1 contract

Sources: Credit Agreement (CPM Holdings, Inc.)

Use of Proceeds; Margin Stock. The Borrower shall use the proceeds of the Revolving Credit for its general working capital purposes Loans to finance commercial customer margin calls at various futures and for such other legal and proper purposes as are consistent with all applicable lawsoptions exchange clearinghouses. Neither None of the Parent, the Borrower nor any Borrower Subsidiary is engaged in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulation U of the Board of Governors of the Federal Reserve System), and no part of the proceeds of any Loan or any other extension of credit made hereunder will be used to purchase or carry any such margin stock or to extend credit to others for the purpose of purchasing or carrying any such margin stock. Margin stock (as hereinabove defined) constitutes less than 25% of the assets of Parent, the Borrower and its the Borrower Subsidiaries which are subject to any limitation on sale, pledge or other restriction hereunder.

Appears in 1 contract

Sources: Credit Agreement (FCStone Group, Inc.)

Use of Proceeds; Margin Stock. The Borrower shall use the proceeds of the Revolving Credit to repay existing indebtedness and for its general working capital purposes and for such other legal and proper purposes as are consistent with all applicable laws. Neither the Borrower nor any Subsidiary is engaged in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulation U of the Board of Governors of the Federal Reserve System), and no part of the proceeds of any Loan or any other extension of credit made hereunder will be used to purchase or carry any such margin stock or to extend credit to others for the purpose of purchasing or carrying any such margin stock. Margin stock (as hereinabove defined) constitutes less than 25% of the assets of the Borrower and its Subsidiaries which are subject to any limitation on sale, pledge or other restriction hereunder.

Appears in 1 contract

Sources: Credit Agreement (Usfreightways Corp)

Use of Proceeds; Margin Stock. The Borrower shall use the proceeds of the Revolving Credit for its general working capital purposes Loans to finance commercial customer margin calls at various futures and for such other legal and proper purposes as are consistent with all applicable lawsoptions exchange clearinghouses. Neither None of Holdings, the Parent, the Borrower nor any Borrower Subsidiary is engaged in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulation U of the Board of Governors of the Federal Reserve System), and no part of the proceeds of any Loan or any other extension of credit made hereunder will be used to purchase or carry any such margin stock or to extend credit to others for the purpose of purchasing or carrying any such margin stock. Margin stock (as hereinabove defined) constitutes less than 25% of the assets of Holdings, Parent, the Borrower and its the Borrower Subsidiaries which are subject to any limitation on sale, pledge or other restriction hereunder.

Appears in 1 contract

Sources: Credit Agreement (International Assets Holding Corp)

Use of Proceeds; Margin Stock. The Borrower shall use the proceeds of the Revolving Credit Loans to refinance existing indebtedness, for its their general working capital purposes purposes, to finance capital expenditures and for such other legal and proper purposes as are consistent with all applicable laws. Neither the Borrower nor any Subsidiary is engaged in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulation U of the Board of Governors of the Federal Reserve System), and no part of the proceeds of any Loan or any other extension of credit made hereunder will be used to purchase or carry any such margin stock or to extend credit to others for the purpose of purchasing or carrying any such margin stock. Margin stock (as hereinabove defined) constitutes less than 25% of the assets of the Borrower and its Subsidiaries which are subject to any limitation on sale, pledge or other restriction hereunder.

Appears in 1 contract

Sources: Credit Agreement (Penford Corp)

Use of Proceeds; Margin Stock. The Borrower shall use the proceeds of the Revolving Credit Facility for its general corporate purposes, including for working capital purposes purposes, and for such other legal and proper purposes as are consistent with all applicable laws. Neither the Borrower No Loan Party nor any Subsidiary of its Subsidiaries is engaged principally or as one of its important activities in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulation U of the Board of Governors of the Federal Reserve System), and no part of the proceeds of any Loan or any other extension of credit made hereunder will be used to purchase or carry any such margin stock or to extend credit to others for the purpose of purchasing or carrying any such margin stock. Margin stock (as hereinabove defined) constitutes less than 25% of the value of the assets of the Borrower Loan Parties and its their Subsidiaries which are subject to any limitation on sale, pledge or other restriction hereunder.

Appears in 1 contract

Sources: Credit Agreement (Neutral Tandem Inc)

Use of Proceeds; Margin Stock. The Borrower shall use the proceeds of the Revolving Credit for its general working capital purposes Loans to fund the Vyvx Acquisition and for such other legal and proper purposes as are consistent with all applicable laws. Neither the Borrower nor any Subsidiary is engaged in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulation U of the Board of Governors of the Federal Reserve System), and no part of the proceeds of any Loan or any other extension of credit made hereunder will be used to purchase or carry any such margin stock or to extend credit to others for the purpose of purchasing or carrying any such margin stock. Margin stock (as hereinabove defined) constitutes less than 25% of the assets of the Borrower and its Subsidiaries which are subject to any limitation on sale, pledge or other restriction hereunder.

Appears in 1 contract

Sources: Bridge Loan Agreement (DG FastChannel, Inc)