Common use of Ineligible Securities Clause in Contracts

Ineligible Securities. No portion of any Letter of Credit is to be obtained shall be used, for the purpose of knowingly purchasing, or providing credit support for the purchase of, during the underwriting or placement period or within thirty (30) days thereafter, any Ineligible Securities underwritten or privately placed by a Financial Affiliate.

Appears in 3 contracts

Samples: Reimbursement and Pledge Agreement (Montpelier Re Holdings LTD), Assignment and Assumption (Montpelier Re Holdings LTD), Reimbursement and Pledge Agreement (Montpelier Re Holdings LTD)

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Ineligible Securities. No portion of any Letter of Credit is to be obtained and no portion of the proceeds of any Loan shall be used, for the purpose of knowingly purchasing, or providing credit support for the purchase of, during the underwriting or placement period or within thirty (30) days thereafter, any Ineligible Securities underwritten or privately placed by a Financial Affiliate.

Appears in 3 contracts

Samples: Reimbursement and Pledge Agreement (Montpelier Re Holdings LTD), Credit Agreement (Montpelier Re Holdings LTD), Control Agreement (Montpelier Re Holdings LTD)

Ineligible Securities. No portion of the proceeds of --------------------- any Loans is to be used, and no portion of any Letter of Credit is to be obtained shall be usedobtained, for the purpose of knowingly purchasing, or providing credit support for the purchase of, during the underwriting or placement period or within thirty (30) days thereafter, any Ineligible Securities underwritten or privately placed by a Financial AffiliateSection 20 Subsidiary.

Appears in 1 contract

Samples: Revolving Credit (Chart House Enterprises Inc)

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Ineligible Securities. No portion of the proceeds of any --------------------- Revolving Credit Loans is to be used, and no portion of any Letter of Credit is to be obtained shall be usedobtained, for the purpose of knowingly purchasing, or providing credit support for the purchase of, during the underwriting or placement period or within thirty (30) days thereafter, any Ineligible Securities underwritten or privately placed by a Financial Affiliate.

Appears in 1 contract

Samples: Revolving Credit Agreement (Us Xpress Enterprises Inc)

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