Purpose of Advances. Letters of Credit and Revolving Loan Advances shall be used solely to (A) assure that all state licensing requirements of FCMC are met and (B) to pay Approved Expenses of FCMC.
Appears in 2 contracts
Samples: Credit Agreement (Franklin Credit Holding Corp/De/), Credit Agreement (Franklin Credit Management Corp)
Purpose of Advances. Letters of Credit and Revolving Loan Advances shall be used solely (i) to (A) assure that all state licensing requirements of FCMC are met met, and (Bii) to pay Approved Expenses approved expenses to Holding. Draw Loan Advances shall be used solely to provide for working capital of FCMC.
Appears in 2 contracts
Samples: Credit Agreement (Franklin Credit Management Corp), Credit Agreement (Franklin Credit Holding Corp/De/)
