Common use of Federal Reserve Regulations; Use of Proceeds Clause in Contracts

Federal Reserve Regulations; Use of Proceeds. (a) Borrower is not engaged principally in, nor as one of their important activities, the business of extending credit for the purpose of purchasing or carrying any “margin stock” (within the meaning of Regulation U of the Board of Governors of the Federal Reserve System of the United States, as amended to the date hereof). If requested by the Bank, the Borrower will furnish to the Bank such a statement on Federal Reserve Form U-1.

Appears in 3 contracts

Samples: Credit Agreement (Healthier Choices Management Corp.), Rloc Credit Agreement (Healthier Choices Management Corp.), Rloc Credit Agreement (Healthier Choices Management Corp.)

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Federal Reserve Regulations; Use of Proceeds. (a) Borrower Neither the Company nor any Guarantor is not engaged principally in, nor has as one of their its important activities, the business of extending credit for the purpose of purchasing or carrying any ‘‘margin stock’’ (within the meaning of Regulation U of the Board of Governors of the Federal Reserve System of the United States, as amended to the date hereof). If requested by the Bank, the Borrower Company will, and will cause each Guarantor to, furnish to the Bank such a statement on Federal Reserve Form U-1.

Appears in 2 contracts

Samples: Term Loan Agreement (Globecomm Systems Inc), Term Loan Agreement (Globecomm Systems Inc)

Federal Reserve Regulations; Use of Proceeds. (a) Each Borrower is not engaged principally inprincipally, nor or as one of their its important activities, in the business of extending credit for the purpose of purchasing or carrying any margin stock” stock (within the meaning of Regulation Regulations U and X of the Board of Governors of the Federal Reserve System System). No part of any of the Advances hereunder shall be used to purchase or carry any such margin stock or to extend credit to others for the purpose of purchasing or carrying any such margin stock. All Advances hereunder shall be used for working capital purposes and requirements of the Borrowers' operations in the United States, as amended to the date hereof). If requested by the Bank, the Borrower will furnish to the Bank such a statement on Federal Reserve Form U-1.

Appears in 1 contract

Samples: Revolving Loan and Security Agreement (Baltek Corp)

Federal Reserve Regulations; Use of Proceeds. (a) Neither Borrower is not engaged principally in, nor as one of their its important activities, the business of extending credit for the purpose of purchasing or carrying any “margin stock” (within the meaning of Regulation U of the Board of Governors of the Federal Reserve System of the United States, as amended to the date hereof). If requested by the Bank, the Borrower Borrowers will furnish to the Bank such a statement on Federal Reserve Form U-1.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Healthier Choices Management Corp.)

Federal Reserve Regulations; Use of Proceeds. (a) Borrower Neither the Company nor any of its Subsidiaries is not engaged principally in, nor has as one of their its important activities, the business of extending credit for the purpose of purchasing or carrying any “margin stock” (within the meaning of Regulation U of the Board of Governors of the Federal Reserve System of the United States, as amended to the date hereof). If requested by the Bank, the Borrower Company will, and will cause each of its Subsidiaries to, furnish to the Bank such a statement on Federal Reserve Form U-1.

Appears in 1 contract

Samples: Credit Agreement (CVD Equipment Corp)

Federal Reserve Regulations; Use of Proceeds. (a) Borrower Group is not engaged principally in, nor has as one of their its important activities, the business of extending credit for the purpose of purchasing or carrying any “margin stock” (within the meaning of Regulation U of the Board of Governors of the Federal Reserve System of the United States, as amended to the date hereof). If requested by the Bank, the Borrower Borrowers will furnish to the Bank such a statement on Federal Reserve Form U-1.

Appears in 1 contract

Samples: Credit Agreement (Greenlane Holdings, Inc.)

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Federal Reserve Regulations; Use of Proceeds. (a) Borrower Group is not engaged principally in, nor has as one of their its important activities, the business of extending credit for the purpose of purchasing or carrying any “margin stock” (within the meaning of Regulation U of the Board of Governors of the Federal Reserve System of the United States, as amended to the date hereof). If requested by the Bank, the Borrower will furnish to the Bank such a statement on Federal Reserve Form U-1.

Appears in 1 contract

Samples: Credit Agreement (Greenlane Holdings, Inc.)

Federal Reserve Regulations; Use of Proceeds. (a) Borrower Neither the Company nor any Guarantor is not engaged principally in, nor has as one of their its important activities, the business of extending credit for the purpose of purchasing or carrying any “margin stock” (within the meaning of Regulation U of the Board of Governors of the Federal Reserve System of the United States, as amended to the date hereof). If requested by the Bank, the Borrower Company will, and will cause each Guarantor to, furnish to the Bank such a statement on Federal Reserve Form U-1.

Appears in 1 contract

Samples: Credit Agreement (Globecomm Systems Inc)

Federal Reserve Regulations; Use of Proceeds. (a) Borrower None of the Credit Parties is not engaged principally in, nor has as one of their its important activities, the business of extending credit for the purpose of purchasing or carrying any "margin stock" (within the meaning of Regulation U of the Board of Governors of the Federal Reserve System of the United States, as amended from time to the date hereoftime). If requested by the Bank, the Borrower will furnish to the Bank such a statement on Federal Reserve Form U-1.

Appears in 1 contract

Samples: Agreement (Family Golf Centers Inc)

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