Facility purpose Clause Samples
Facility purpose. A construction facility must be used to complete construction of a building on a
Facility purpose. The NALS Wall Climbing Facility is a premise for adults and children to climb the wall and challenge themselves physically and mentally. The objective is to improve fitness, perseverance, overall health and social interaction with other climbers.
Facility purpose. This Facility finances the purchase of Products by the Borrower from suppliers, destined for immediate resale or for transport to Panama, discharge into and storage in the storage facilities of Petroterminal de Panama and subsequent resale. The Borrower intends to reimburse the Facility either:
(a) through drawings under Facility A; or
(b) the proceeds of receivables relating to the resale of Products. The Facility is available through:
(c) the issuance of letters of credit and standby letters of credit (collectively "Documentary Credits") in favour of suppliers;
(d) countersignature of letters of indemnity ("LOI" as defined below) issued by the Borrower in favour of its buyers to which it sold Products or in favour of BNP Paribas New York Branch; and
Facility purpose. Any change of the facility purpose.
Facility purpose. The facility is for MST to pay consideration and any related transaction costs for Share Swap and to provide working capital for Inotera.
Facility purpose. The Borrower shall use the proceeds of the Facility to make one or more inter-company loans (each, an “Inter-Company Loan”) to MAPL and/or one or more Subsidiary Guarantors, including MSC and MPC. The proceeds of the Inter-Company Loans, together with available cash of the Loan Parties, shall be used (i) to repay in full 100% of the principal of, accrued interest on, and fees and other amounts due in respect of, all outstanding Debt of MPC and MSC, (ii) if not funded with an Acceptable Letter of Credit, to fund the Debt Service Reserve Account, and (iii) at the determination of MAPL, (a) to fund the repayment of inter-company indebtedness owed to MAPL and its Subsidiaries, (b) to fund a Restricted Payment in cash to the equity shareholders of MAPL and (c) for general corporate purposes.