COMMITMENTS; USE OF PROCEEDS Sample Clauses

COMMITMENTS; USE OF PROCEEDS. (a) Subject to and upon the terms and conditions herein set forth, each Lender severally agrees to make to Intermet from time to time on and after the Closing Date, but prior to the Maturity Date, Syndicated Loans in an aggregate amount outstanding at any time not to exceed such Lender's Commitment minus such Lender's Pro Rata Share of the Letter of Credit Obligations, subject, however, to the conditions that (i) at no time shall the sum of the (x) the outstanding principal amount of all Syndicated Loans, plus (y) the outstanding principal amount of all Bid Rate Loans, plus (z) the outstanding Letter of Credit Obligations, exceed the sum of the Commitments, (ii) at no time shall the sum of the outstanding principal amount of Syndicated Loans comprised of Overnight Rate Advances exceed $30,000,000, and (iii) at all times shall the outstanding principal amount of the Syndicated Loans of each Lender equal the product of each Lender's Pro Rata Share of the Commitments multiplied by the aggregate outstanding amount of the Syndicated Loans. In addition, at no time shall the outstanding principal amount of the Bid Rate Loans outstanding under this Agreement exceed $100,000,000. Intermet shall be entitled to repay and reborrow Syndicated Loans in accordance with the provisions hereof.
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COMMITMENTS; USE OF PROCEEDS. (a) Subject to and upon the terms and conditions herein set forth, each Lender severally agrees to make to the Borrower from time to time on and after the Fourth Amendment Date (and continue Syndicated Loans outstanding on the Fourth Amendment Date), but prior to the Maturity Date, Syndicated Loans in an aggregate amount outstanding at any time not to exceed such Lender's Commitment minus such Lender's Pro Rata Share of the Swingline Loans minus such Lender's Pro Rata Share of the Letter of Credit Obligations, subject, however, to the conditions that (i) at no time shall the sum of the (x) the outstanding principal amount of all Syndicated Loans, plus (y) the outstanding principal amount of all Swingline Loans, plus (z) the outstanding Letter of Credit Obligations, exceed the sum of the Commitments, and (ii) at all times shall the outstanding principal amount of the Syndicated Loans of each Lender equal the product of each Lender's Pro Rata Share of the Commitments multiplied by the aggregate outstanding amount of the Syndicated Loans. The Borrower shall be entitled to repay and reborrow Syndicated Loans in accordance with the provisions hereof.
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COMMITMENTS; USE OF PROCEEDS. (a) Subject to and upon the terms and conditions herein set forth, each Lender severally agrees to make to Intermet from time to time on and after the Closing Date, but prior to the Revolving Termination Date, Syndicated Loans in an aggregate amount outstanding at any time not to exceed such Lender's Commitment, subject, however, to the conditions that (i) at no time shall the outstanding principal amount of all Syndicated Loans exceed the sum of the Commitments, and (ii) at all times shall the outstanding principal amount of the Syndicated Loans of each Lender equal the product of each Lender's Pro Rata Share of the Commitments multiplied by the aggregate outstanding amount of the Syndicated Loans. Intermet shall be entitled to repay and reborrow Syndicated Loans in accordance with the provisions hereof.
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COMMITMENTS; USE OF PROCEEDS. SUBSECTION (D) of SECTION 2.1 of the Credit Agreement is hereby deleted in its entirety.
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COMMITMENTS; USE OF PROCEEDS. (a) Subject to and upon the terms and conditions herein set forth, each Lender severally agrees to make to Borrower from time to time on and after the Closing Date, but prior to the Termination Date, Loans in an aggregate amount outstanding at any time not to exceed such Lender's Commitment. Borrower shall be entitled to repay and reborrow Loans in accordance with the provisions hereof.
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COMMITMENTS; USE OF PROCEEDS. SECTION 2.1 of the Credit Agreement is hereby amended to add a new SUBSECTION (D) thereto immediately following SUBSECTION (C), which new SUBSECTION (D) shall read in is entirety as follows:
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COMMITMENTS; USE OF PROCEEDS. (a) Subject to and upon the terms and conditions herein set forth, each Lender severally agrees to make to Intermet on the Closing Date, loans (each such loan, a "Term Loan") in an aggregate amount not to exceed such Lender's Commitment, subject, however, to the conditions that (i) at no time shall the outstanding principal amount of all Term Loans exceed the sum of the Commitments, and (ii) at all times shall the outstanding principal amount of the Term Loans of each Lender equal the product of each Lender's Pro Rata Share of the Commitments multiplied by the aggregate outstanding amount of the Term Loans. Term Loans which are repaid or prepaid by Intermet may not be reborrowed. No Loans may be made after the Closing Date.
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COMMITMENTS; USE OF PROCEEDS 
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Related to COMMITMENTS; USE OF PROCEEDS

  • Use of Proceeds The Company will use the net proceeds received by it from the sale of the Securities in the manner specified in the Prospectus under “Use of Proceeds.”

  • Use of Proceeds of Loans The Company shall use the proceeds of Loans for general lawful corporate purposes, including, without limitation financing working capital and capital expenditures, lending to its Subsidiaries and acquiring other Persons or businesses so long as the acquisition is approved by the board of directors of the Person being acquired.

  • Repayment of Proceeds If Executive engages in Competitive Activity, then Executive shall be required to pay to Investors, within ten business days following the Activity Date, an amount equal to the excess, if any, of (A) the aggregate proceeds Executive received upon the sale or other disposition of Executive's Units, over (B) the aggregate Cost of such Units.

  • Use of Proceeds; Margin Securities Neither the Borrower nor any Subsidiary 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 Regulations T, U, or X of the Board of Governors of the Federal Reserve System), and no part of the proceeds of any Advance will be used to purchase or carry any margin stock or to extend credit to others for the purpose of purchasing or carrying margin stock.

  • Use of Proceeds and Letters of Credit The proceeds of the Loans will be used only for general corporate purposes, including, without limitation, refinance of existing debt, working capital, capital expenditures, and acquisitions. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that entails a violation of any of the Regulations of the Board, including Regulations T, U and X. Letters of Credit will be issued only to support general corporate purposes, including, without limitation, refinance of existing debt, working capital, and capital expenditures.

  • Use of Proceeds; Letters of Credit The Borrower will not permit the proceeds of any Advance or Letters of Credit to be used for any purpose other than those permitted by Section 5.09. The Borrower will not engage in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulation U). Neither the Borrower nor any Person acting on behalf of the Borrower has taken or shall take, nor permit any of the Borrower’s Subsidiaries to take any action which might cause any of the Loan Documents to violate Regulation T, U or X or any other regulation of the Board of Governors of the Federal Reserve System or to violate Section 7 of the Securities Exchange Act of 1934 or any rule or regulation thereunder, in each case as now in effect or as the same may hereinafter be in effect, including without limitation, the use of the proceeds of any Advance or Letters of Credit to purchase or carry any margin stock in violation of Regulation T, U or X.

  • Lending Relationships; Use of Proceeds Except as disclosed in the Registration Statement, the Statutory Prospectus and the Prospectus, the Company (i) does not have any material lending or other relationship with any bank or lending affiliate of any of the Underwriters and (ii) does not intend to use any of the proceeds from the sale of the Offered Securities hereunder to repay any outstanding debt owed to any affiliate of any of the Underwriters.

  • Applications of Proceeds The proceeds of any such sale, lease or other disposition of the Collateral hereunder shall be applied first, to the expenses of retaking, holding, storing, processing and preparing for sale, selling, and the like (including, without limitation, any taxes, fees and other costs incurred in connection therewith) of the Collateral, to the reasonable attorneys' fees and expenses incurred by the Secured Party in enforcing its rights hereunder and in connection with collecting, storing and disposing of the Collateral, and then to satisfaction of the Obligations, and to the payment of any other amounts required by applicable law, after which the Secured Party shall pay to the Company any surplus proceeds. If, upon the sale, license or other disposition of the Collateral, the proceeds thereof are insufficient to pay all amounts to which the Secured Party is legally entitled, the Company will be liable for the deficiency, together with interest thereon, at the rate of 15% per annum (the "Default Rate"), and the reasonable fees of any attorneys employed by the Secured Party to collect such deficiency. To the extent permitted by applicable law, the Company waives all claims, damages and demands against the Secured Party arising out of the repossession, removal, retention or sale of the Collateral, unless due to the gross negligence or willful misconduct of the Secured Party.

  • Use of Proceeds, Etc All proceeds of each Advance made to the Designated Borrower will be used by it only in accordance with the provisions of Section 2.12 of the Credit Agreement. It is not, nor will be, engaged in the business of extending credit for the purpose of buying or carrying Margin Stock and no proceeds of any Advance will be used by it to extend credit to others for the purpose of buying or carrying any Margin Stock. Neither the making of any Advance to the Designated Borrower nor the use of the proceeds thereof will violate or be inconsistent with the provisions of Regulations U or X issued by the Board of Governors of the Federal Reserve System.

  • Use of Proceeds and Margin Security The Borrowers shall use the proceeds of the Loan only for the purposes set forth herein and consistent with all applicable laws, statutes, rules and regulations. No portion of the proceeds of the Loan shall be used by the Borrowers or any Person in any manner that might cause the borrowing or the application of such proceeds to violate Regulation T, Regulation U or Regulation X or any other regulation of the Board of Governors of the Federal Reserve System.

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