Purpose of Credit Facility; Federal Regulation Sample Clauses
The 'Purpose of Credit Facility; Federal Regulation' clause defines the intended use of the credit facility and ensures compliance with applicable federal laws and regulations. It typically specifies that the borrower may only use the funds for certain approved purposes, such as working capital or specific business activities, and prohibits uses that would violate federal statutes or regulations, such as those related to anti-money laundering or sanctions. This clause serves to clarify the lender’s expectations, limit misuse of funds, and ensure that both parties adhere to legal requirements, thereby reducing regulatory and financial risks.
Purpose of Credit Facility; Federal Regulation. The proceeds of the Loans shall be used for the working capital needs and general corporate purposes of the Companies. The proceeds loaned hereunder will not be used directly or indirectly for any purpose which violates, or which would be inconsistent with, the provisions of the Regulations of the Board, including Regulations T, U or X, or any other applicable Law. No Company is engaged in or will engage, principally or as one of its important activities, in the business of extending credit to others for the purpose of purchasing or carrying any Margin Stock.
Purpose of Credit Facility; Federal Regulation. The proceeds of the Loans and the Swingline Loans, and Letters of Credit shall be used for the working capital needs and general corporate purposes (including Acquisitions and capital expenditures) of the Companies, including (a) the CenturyLink Refinancing, (b) on the Merger Date, the Qwest Refinancing, and (c) the payment of fees and expenses incurred in connection with the Merger, the CenturyLink Refinancing, the Qwest Refinancing and this Agreement (collectively, the “Transactions”). The proceeds loaned hereunder will not be used directly or indirectly for any purpose which violates, or which would be inconsistent with, the provisions of the Regulations of the Board, including Regulations T, U or X. No Company is engaged in or will engage, principally or as one of its important activities in the business of extending credit to others for the purpose of purchasing or carrying any Margin Stock.