Common use of Proceeds of Loans Clause in Contracts

Proceeds of Loans. The Borrower will not, nor will it permit any of the Restricted Subsidiaries to, permit the proceeds of the Loans to be used for any purpose other than those permitted by Section 7.21. No Credit Party or any Person acting on behalf of any Credit Party has taken or will take any action which might cause any of the Loan Documents to violate Regulations T, U or X or any other regulation of the Board 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. If requested by the Administrative Agent, the Borrower will furnish to the Administrative Agent and each Lender a statement to the foregoing effect in conformity with the requirements of FR Form U-1 or such other form referred to in Regulation U, Regulation T or Regulation X of the Board, as the case may be.

Appears in 4 contracts

Samples: Credit Agreement (Callon Petroleum Co), Credit Agreement (Callon Petroleum Co), Credit Agreement (Callon Petroleum Co)

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Proceeds of Loans. The Parent and the Borrower will not, nor will it permit any of the Restricted Subsidiaries to, not permit the proceeds of the Loans or any Letter of Credit to be used for any purpose other than those permitted by Section 7.215.08. No Credit Party None of the Parent, the Borrower or any Person acting on behalf of any Credit Party the Parent or the Borrower has taken or will take any action which might cause any of the Loan Documents to violate Regulations Regulation T, U or X or any other regulation of the Board or to violate section 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. If requested by the Administrative Agent, the Borrower will furnish to the Administrative Agent and each Lender a statement to the foregoing effect in conformity with the requirements of FR Form U-1 or such other form referred to in Regulation U, Regulation T or Regulation X of the Board, as the case may be.

Appears in 3 contracts

Samples: Credit Agreement (Penn Virginia Corp), Credit Agreement (Penn Virginia Corp), Credit Agreement (Penn Virginia Corp)

Proceeds of Loans. The Borrower will not, nor will it permit any of the Restricted Subsidiaries to, not permit the proceeds of the Loans to be used for any purpose other than those permitted by Section 7.217.20. No Credit Neither the Borrower nor any other Loan Party or any Person acting on behalf of the Borrower or any Credit other Loan Party has taken or will take any action which might cause any of the Loan Documents to violate Regulations T, U or X or any other regulation of the Board 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. If requested by the Administrative Agent, the Borrower or the applicable Loan Parties will furnish to the Administrative Agent and each Lender a statement to the foregoing effect in conformity with the requirements of FR Form U-1 or such other form referred to in Regulation U, Regulation T or Regulation X of the Board, as the case may be.

Appears in 2 contracts

Samples: MLP Credit Agreement, MLP Credit Agreement (PennTex Midstream Partners, LP)

Proceeds of Loans. The Borrower will not, nor will it permit any of the Restricted Subsidiaries to, permit the proceeds of the Loans to be used for any purpose other than those permitted by Section 7.21. No Credit Party or any Person acting on behalf of any Credit Party has taken or will take any action which might cause any of the Loan Documents to violate Regulations Regulation T, U or X or any other regulation of the Board 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. If requested by the Administrative Agent, the Borrower will furnish to the Administrative Agent and each Lender a statement to the foregoing effect in conformity with the requirements of FR Form U-1 or such other form referred to in Regulation U, Regulation T or Regulation X of the Board, as the case may be.

Appears in 1 contract

Samples: Credit Agreement (Callon Petroleum Co)

Proceeds of Loans. (a) The Borrower will not, nor will it permit any of the Restricted Subsidiaries other Credit Party to, permit the proceeds of the Loans to be used for any purpose other than those permitted by Section 7.217.20. No Credit Party or any Person acting on behalf of any Credit Party has taken or will take any action which might cause any of the Loan Documents to violate Regulations T, U or X or any other regulation of the Board 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. If requested by the Administrative 110 Agent, the Borrower will furnish to the Administrative Agent and each Lender a statement to the foregoing effect in conformity with the requirements of FR Form U-1 or such other form referred to in Regulation U, Regulation T or Regulation X of the Board, as the case may be.

Appears in 1 contract

Samples: Credit Agreement (PDC Energy, Inc.)

Proceeds of Loans. (a) The Borrower will not, nor will it permit any of the Restricted Subsidiaries to, not permit the proceeds of the Loans Notes to be used for any purpose other than those permitted by Section 7.21. No Credit Party or Neither the Borrower nor any Person acting on behalf of any Credit Party the Borrower has taken or will take any action which might cause any of the Loan Documents to violate Regulations Regulation T, Regulation U or Regulation X or any other regulation of the Board or to violate section 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. If requested by the Administrative Agent, the Borrower will furnish to the Administrative Agent and each Lender a statement to the foregoing effect in conformity with the requirements of FR Form U-1 or such other form referred to in Regulation U, Regulation T or Regulation X of the Board, as the case may be.. 97

Appears in 1 contract

Samples: Credit Agreement (Chaparral Energy, Inc.)

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Proceeds of Loans. The Borrower will not, nor will it permit any of the Restricted Subsidiaries other Credit Party to, permit the proceeds of the Loans to be used for any purpose other than those permitted by Section 7.21. No Credit Party or any Person acting on behalf of any Credit Party has taken or will take any action which might cause any of the Loan Documents to violate Regulations T, U or X or any other regulation of the Board 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. If requested by the Administrative Agent, the Borrower will furnish to the Administrative Agent and each Lender a statement to the foregoing effect in conformity with the requirements of FR Form U-1 or such other form referred to in Regulation U, Regulation T or Regulation X of the Board, as the case may be.

Appears in 1 contract

Samples: Credit Agreement (Callon Petroleum Co)

Proceeds of Loans. (a) The Borrower will not, nor will it permit any of the Restricted Subsidiaries to, not permit the proceeds of the Loans Notes to be used for any purpose other than those permitted by Section 7.21. No Credit Party or Neither the Borrower nor any Person acting on behalf of any Credit Party the Borrower has taken or will take any action which might cause any of the Loan Documents to violate Regulations Regulation T, Regulation U or Regulation X or any other regulation of the Board or to violate section 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. If requested by the Administrative Agent, the Borrower will furnish to the Administrative Agent and each Lender a statement to the foregoing effect in conformity with the requirements of FR Form U-1 or such other form referred to in Regulation U, Regulation T or Regulation X of the Board, as the case may be.

Appears in 1 contract

Samples: Credit Agreement (Chaparral Energy, Inc.)

Proceeds of Loans. The Borrower will not, nor will it permit any of the Restricted Subsidiaries to, not permit the proceeds of the Loans Indebtedness to be used for any purpose other than those permitted by Section 7.217.07. No Credit Party or Neither the Borrower nor any Person acting on behalf of any Credit Party the Borrower has taken or will take any action which might cause any of the Loan Documents to violate Regulations T, U or X or any other regulation of the Board of Governors of the Federal Reserve System or to violate section Section 7 of the Table of Contents 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. If requested by the Administrative Agent, the Borrower will furnish to the Administrative Agent and each Lender a statement to the foregoing effect in conformity with the requirements of FR Form U-1 or such other form referred to in Regulation U, Regulation T or Regulation X of the BoardBoard of Governors of the Federal Reserve System, as the case may be.

Appears in 1 contract

Samples: Credit Agreement (Penn Virginia Corp)

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