Common use of Use of Proceeds of Term Loans Clause in Contracts

Use of Proceeds of Term Loans. The proceeds of the Term Loans hereunder shall be used by the Company for the purpose of refinancing certain outstanding Indebtedness of the Company and its Subsidiaries under the Existing Agreement and other existing Indebtedness and to redeem or repurchase Indebtedness issued under the Designated Senior Secured Indenture (including fees and expenses in connection with such refinancing, repurchase and redemption), and for general corporate purposes not prohibited hereunder. To the extent that any Designated Senior Secured Notes shall remain outstanding after the Closing Date, an amount of the proceeds of the Term Loans and, if necessary, Revolving Credit Loans made on the Closing Date, sufficient to purchase, redeem or defease such Designated Senior Secured Notes and pay interest and any premium thereon shall, at the Company's option, be deposited in a defeasance trust with the trustee under the Designated Senior Secured Indenture or placed in a Cash Collateral Account under the direction of the Term Loan Administrative Agent pending their use to repurchase, redeem or defease such Designated Senior Secured Notes.

Use of Proceeds of Term Loans. The proceeds of the Term Loans hereunder shall be used by the Company for the purpose of refinancing certain outstanding Indebtedness of the Company and its Subsidiaries under the Existing Agreement and other existing Indebtedness and to redeem or repurchase Indebtedness issued under the Designated Senior Secured Indenture (including fees and expenses in connection with such refinancing, repurchase and redemption), and for general corporate purposes not prohibited hereunder. To the extent that any Designated Senior Secured Notes shall remain outstanding after the Closing Date, an amount of the proceeds of the Term Loans and, if necessary, Revolving Credit Loans made on the Closing Date, sufficient to purchase, redeem or defease such Designated Senior Secured Notes and pay interest and any premium thereon shall, at the Company's ’s option, be deposited in a defeasance trust with the trustee under the Designated Senior Secured Indenture or placed in a Cash Collateral Account under the direction of the Term Loan Administrative Agent pending their use to repurchase, redeem or defease such Designated Senior Secured Notes.