Common use of Purpose of Loans and Letters of Credit Clause in Contracts

Purpose of Loans and Letters of Credit. The proceeds of the Loans hereunder shall be used solely by the Borrower to effect the Transaction, to pay fees and expenses related to the Transaction and to provide for working capital and general corporate purposes of the Borrower and its Subsidiaries (including, without limitation, Permitted Acquisitions). The Letters of Credit shall be used only for or in connection with appeal bonds, reimbursement obligations arising in connection with surety and reclamation bonds, reinsurance, domestic or international trade transactions and obligations not otherwise aforementioned relating to transactions entered into by the applicable account party in the ordinary course of business.

Appears in 3 contracts

Samples: Credit Agreement (Mg Waldbaum Co), Credit Agreement (Mg Waldbaum Co), Credit Agreement (Michael Foods Inc /Mn)

AutoNDA by SimpleDocs

Purpose of Loans and Letters of Credit. The proceeds of the Loans hereunder shall be used solely by the Borrower to effect the Transaction, to pay fees and expenses related to the Transaction and to provide (i) for working capital and general corporate purposes (ii) to make Consolidated Capital Expenditures, (iii) to refinance existing Indebtedness of the Borrower on the Closing Date and its Subsidiaries (including, without limitation, Permitted Acquisitions)iv) for general corporate purposes. The Letters of Credit shall be used only for or in connection with appeal bonds, reimbursement obligations arising in connection with surety and reclamation bonds, reinsurance, domestic or international trade transactions and obligations not otherwise aforementioned relating to transactions entered into by the applicable account party in the ordinary course of business.

Appears in 2 contracts

Samples: Credit Agreement (PRG Schultz International Inc), Credit Agreement (PRG Schultz International Inc)

Purpose of Loans and Letters of Credit. The proceeds of the Loans hereunder shall be used solely by the Borrower to effect the Transaction, to pay fees and expenses related to the Transaction and to provide for working capital and general corporate purposes of the Borrower and its Subsidiaries (including, without limitation, Permitted Acquisitions). The Letters of Credit shall be used only for or in connection with appeal bonds, reimbursement obligations arising in connection with surety and reclamation bonds, reinsurance, domestic or international trade transactions transactions, workers compensation and obligations not otherwise aforementioned relating to transactions entered into by the applicable account party in the ordinary course of business.

Appears in 2 contracts

Samples: Credit Agreement (Birds Eye Foods, Inc.), Credit Agreement (Agrilink Foods Inc)

Purpose of Loans and Letters of Credit. The proceeds of the Loans hereunder shall be used solely by the Borrower to effect the Transaction, to pay fees and expenses related to the Transaction and to provide for working capital and general corporate purposes of the Borrower and its Subsidiaries (including, without limitation, the development of new service locations and Permitted Acquisitions). The Letters of Credit shall be used only for or in connection with appeal bonds, reimbursement obligations arising in connection with surety and reclamation bonds, reinsurance, domestic or international trade transactions and obligations not otherwise aforementioned relating to transactions entered into by the applicable account party in the ordinary course of business.

Appears in 2 contracts

Samples: Credit Agreement (Jw Childs Equity Partners Ii Lp), Credit Agreement (Signal Medical Services)

Purpose of Loans and Letters of Credit. The proceeds of the Loans hereunder shall be used solely by the Borrower to effect (a) in the Transactioncase of the Revolving Credit Loans, for the ongoing operations of the Credit Parties, including without limitation working capital purposes and (b) in the case of the Term Loans, to pay fees and expenses related to fund the Transaction and to provide for working capital and general corporate purposes Acquisitions of the Borrower and its Subsidiaries (including, without limitation, Permitted Acquisitions)respective Acquired Companies. The Letters of Credit shall be used only for or in connection with appeal bonds, reimbursement obligations arising in connection with surety and reclamation bonds, reinsurance, domestic or international trade transactions and obligations not otherwise aforementioned relating to transactions entered into by the applicable account party in the ordinary course of business.

Appears in 1 contract

Samples: Credit Agreement (Engineered Support Systems Inc)

AutoNDA by SimpleDocs

Purpose of Loans and Letters of Credit. The proceeds of the Loans hereunder shall be used solely by the Borrower to effect the TransactionRefinancing, to pay fees and expenses related to the Transaction Refinancing and to provide for working capital and general corporate purposes of the Borrower and its Subsidiaries (including, without limitation, Permitted Acquisitions). The Letters of Credit shall be used only for or in connection with appeal bonds, reimbursement obligations arising in connection with surety and reclamation bonds, reinsurance, domestic or international trade transactions and obligations not otherwise aforementioned relating to transactions entered into by the applicable account party for general corporate purposes in the ordinary course of business.

Appears in 1 contract

Samples: Credit Agreement (American Medical Systems Holdings Inc)

Purpose of Loans and Letters of Credit. The proceeds of the Loans hereunder shall be used solely by the Borrower to effect the Transaction, to pay for (i) working capital; (ii) payment of fees and expenses related to incurred in connection herewith, (iii) refinancing existing Indebtedness of the Transaction Borrower, (iv) capital expenditures and to provide for working capital and (v) general corporate purposes of the Borrower and its Subsidiaries (including, without limitation, Permitted Acquisitions)purposes. The Letters of Credit shall be used only for or in connection with appeal bonds, reimbursement obligations arising in connection with surety and reclamation bonds, reinsurance, domestic or international trade transactions and obligations not otherwise aforementioned relating to transactions entered into by the applicable account party in the ordinary course of business.

Appears in 1 contract

Samples: Credit Agreement (Pluma Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.