Prohibited Facilities. The Borrower represents and warrants that no portion of the proceeds of the Borrower Loan shall be used to provide any airplane, skybox or other private luxury box, health club facility, facility primarily used for gambling, or store the principal business of which is the sale of alcoholic beverages for consumption off premises, and no portion of the proceeds of the Borrower Loan shall be used for an office unless (i) the office is located on the premises of the facilities constituting the Project and (ii) not more than a de minimus amount of the functions to be performed at such office is not related to the day-to-day operations of the Project.
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Prohibited Facilities. The Borrower represents and warrants that no portion of the proceeds of the Borrower Loan Tax-Exempt Note shall be used to provide any airplane, skybox or other private luxury box, health club facility, facility primarily used for gambling, or store the principal business of which is the sale of alcoholic beverages for consumption off premises, and no portion of the proceeds of the Borrower Loan shall be used for an office unless (i) the office is located on the premises of the facilities constituting the Project and (ii) not more than a de minimus amount of the functions to be performed at such office is not related to the day-to-day operations of the Project.
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Sources: Loan Agreement
Prohibited Facilities. The Borrower represents and warrants that no portion of the proceeds of the Borrower Loan shall will be used to provide any airplane, skybox or other private luxury box, health club facility, facility primarily used for gambling, or store the principal business of which is the sale of alcoholic beverages for consumption off premises, and no portion of the proceeds of the Borrower Loan shall will be used for an office unless (i) the office is located on the premises of the facilities constituting the Project and (ii) not more than a de minimus minimis amount of the functions to be performed at such office is not related to the day-to-day operations of the Project.
Appears in 1 contract
Sources: Construction Loan Agreement
Prohibited Facilities. The Borrower represents and warrants that no portion of the proceeds of the Borrower Loan Governmental Obligations shall be used to provide any airplane, skybox or other private luxury box, health club facility, facility primarily used for gambling, or store the principal business of which is the sale of alcoholic beverages for consumption off premises, and no portion of the proceeds of the Borrower Loan shall be used for an office unless unless
(i) the office is located on the premises of the facilities constituting the Project and (ii) not more than a de minimus amount of the functions to be performed at such office is not related to the day-to-day operations of the Project.
Appears in 1 contract
Sources: Loan Agreement
Prohibited Facilities. The Borrower represents and warrants that no portion of the proceeds of the Borrower Loan or the Senior Borrower Loan shall be used to provide any airplane, skybox or other private luxury box, health club facility, facility primarily used for gambling, or store the principal business of which is the sale of alcoholic beverages for consumption off premises, and no portion of the proceeds of the Senior Borrower Loan shall be used for an office unless (i) the office is located on the premises of the facilities constituting the Project and (ii) not more than a de minimus amount of the functions to be performed at such office is not related to the day-to-day operations of the Project.
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Sources: Borrower Loan Agreement
Prohibited Facilities. The Borrower represents and warrants that no portion of the proceeds of the Borrower Loan shall or of the Senior Loan will be used to provide any airplane, skybox or other private luxury box, health club facility, facility primarily used for gambling, or store the principal business of which is the sale of alcoholic beverages for consumption off premises, and no portion of the proceeds of the Borrower Loan shall or of the Senior Loan will be used for an office unless (i) the office is located on the premises of the facilities constituting the Project Development and (ii) not more than a de minimus minimis amount of the functions to be performed at such office is not related to the day-to-day operations of the ProjectDevelopment.
Appears in 1 contract
Sources: Loan Agreement
Prohibited Facilities. The Borrower represents and warrants that no portion of the proceeds of the Borrower Loan shall be used to provide any airplane, skybox or other private luxury box, health club facility, facility primarily used for gambling, or store the principal business of which is the sale of alcoholic beverages for consumption off premises, and no portion of the proceeds of the Borrower Loan shall be used for an office unless (i) the office is located on the premises of the facilities constituting a portion of the Project and (ii) not more than a de minimus minimis amount of the functions to be performed at such office is not related to the day-to-day operations of the Project.
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Sources: Indenture