Use of Proceeds of the Facility Sample Clauses
The 'Use of Proceeds of the Facility' clause defines how the borrower is permitted to utilize the funds provided under a loan or credit facility. Typically, this clause specifies the approved purposes for which the borrowed money can be spent, such as refinancing existing debt, funding capital expenditures, or supporting general corporate activities. By clearly outlining these permitted uses, the clause ensures that the lender's funds are not diverted to unauthorized or high-risk activities, thereby managing risk and maintaining transparency between the parties.
Use of Proceeds of the Facility a) Proceeds from the Closing Date Facility shall be used only (i) to pay for any fees, costs and expenses under or associated with this Agreement, including, for avoidance of doubt, any fees owing to the Lenders and commissions owing to ▇▇▇▇▇▇▇ Securities Inc. in connection therewith, (ii) to fund the Shootaring Canyon Mill Surety Bond, (iii) to fund engineering expenses for the Projects, and (iv) for general working capital purposes.
b) Proceeds from the 2025 Facility shall be used for general working capital purposes.
Use of Proceeds of the Facility. Proceeds from the Facility shall be used only (i) to pay for any fees, costs and expenses under or associated with this Agreement, including, for avoidance of doubt, any fees owing to the Lenders and commissions owing to ▇▇▇▇▇▇▇ Securities Inc. in connection therewith, (ii) to fund the Shootaring Canyon Mill Surety Bond, (iii) to fund engineering expenses for the Projects, and (iv) for general working capital purposes.
Use of Proceeds of the Facility. Proceeds of the Facility shall be used only for those purposes set forth in this Agreement. No part of the proceeds of the Facility shall be used, directly or indirectly, for the purpose of purchasing or carrying any margin stock within the meaning of Regulation U, or for the purpose of purchasing or carrying or trading in any stock under such circumstances as to involve the Borrower in a violation of Regulation X or the Bank in a violation of Regulation U. In particular, without limitation of the foregoing, no part of the proceeds from the Facility are intended to be used to acquire any publicly-held stock of any kind.
Use of Proceeds of the Facility. 5Except with the prior written consent of the Agent (in accordance with the instructions of the Majority Lenders), the Borrower shall only be entitled to use the proceeds of the Facility exclusively for (a) the development, operation and maintenance of the H▇▇▇▇▇ Facility, the Palangana Mine and the Goliad Mine, and (b) working capital purposes of the Borrower and STMV. For greater certainty, the Borrower acknowledges and agrees that the proceeds of the Facility may not be used in connection with any exploration project other than the Palangana Mine and the Goliad Mine.
Use of Proceeds of the Facility. Except with the prior written consent of the Agent (in accordance with the instructions of the Majority Lenders), the Borrower shall only be entitled to use the proceeds of the Facility exclusively for the development and operation of the Project and for general working capital of the Borrower and the Material Subsidiaries, which for greater certainty, shall include the reimbursement of previously incurred expenses associated with the development and operation of the Project.
Use of Proceeds of the Facility. The Borrower fails to use the proceeds of the Facility in connection with the purpose specified in Clause 3 (Purpose).
Use of Proceeds of the Facility. (a) The proceeds of all Revolving Credit Loans shall be utilized by to finance working capital requirements, acquisitions and other general corporate purposes of the Borrower.
(b) Notwithstanding any provision of this Section 5.11 to the contrary, no part of the proceeds of the Facility will be used, directly or indirectly, either (a) to purchase or carry, or to extend credit to any person or persons for the purpose of purchasing or carrying, any margin stock within the meaning of Regulation U or Regulation X or (b) be secured directly or indirectly by any type or kind of margin stock, as so defined. In particular, without limitation of the foregoing, no part of the proceeds from the Facility is intended to be used to acquire any publicly-held stock of any kind.