Common use of Use of the Credit Clause in Contracts

Use of the Credit. 2.4.1 The Credit is a continuation of the credit facility designated as the “Credit” under the Existing Credit Agreement. Subject to Section 2.4.2, the Borrowers may only use the Credit (i) for general corporate purposes of the Restricted Parties, including working capital purposes and to finance Capital Expenditures, and (ii) to assist with the financing of Permitted Acquisitions. 2.4.2 Advances under the Credit used to repay Debt advanced by a Non-Obligor to an Obligor shall not exceed $35,000,000 in the aggregate at any time (such amount to be refreshed up to the $35,000,000 maximum upon repayment of Advances under the Credit from time to time).

Appears in 2 contracts

Sources: Credit Agreement (ATS Corp /ATS), Second Amending Agreement (ATS Corp /ATS)