Common use of Using Loan Proceeds Clause in Contracts

Using Loan Proceeds. Borrower shall use the Loan solely to pay off, or to reimburse Borrower for paying off, (a) Borrower’s current debtor-in-possession financing and pre-petition financing and (b) the costs and expenses incurred by Borrower in connection with obtaining the Loan. Borrower shall not use the Loan proceeds, or any portion of them, to pay any fees or other payments to any Affiliate of Borrower without Lender’s prior written consent, in Lender’s sole discretion.

Using Loan Proceeds. Borrower shall use the Loan solely to pay off, or to reimburse Borrower for paying off, (a) Borrower’s current debtor-in-possession financing and pre-petition financing and (b) the costs and expenses incurred by Borrower in connection with obtaining the Loan, all as reasonably approved in writing by Lender. Borrower shall not use the Loan proceeds, or any portion of them, them to pay any fees or other payments to any Affiliate of Borrower without Lender’s prior written consent, in Lender’s sole discretion.