Common use of Use of Proceeds and Letters of Credit Clause in Contracts

Use of Proceeds and Letters of Credit. The proceeds of the Revolving Loans and Letters of Credit shall be used for general corporate purposes of the Borrower and its Subsidiaries; provided, however, that no part of the proceeds of any borrowing or Letter of Credit will be used, whether directly or indirectly, for any purpose that entails a violation of any of Regulations T, U and X of the Board. The Borrower will not request any borrowing or Letter of Credit, and the Borrower shall not use, and shall procure that its Subsidiaries and, to its knowledge, its or their respective directors, officers, employees and agents (in each case, in its respective capacity as such) shall not use, the proceeds of any borrowing or Letter of Credit (A) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (B) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, in either case, in violation of law or (C) in any manner that would result in the violation of any Sanctions applicable to any party hereto.

Appears in 10 contracts

Samples: Credit Agreement (Northern States Power Co), Credit Agreement (Public Service Co of Colorado), Credit Agreement (Northern States Power Co)

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Use of Proceeds and Letters of Credit. The proceeds of the Revolving Loans and Letters of Credit shall be used for general corporate purposes of the Borrower and its Subsidiaries; provided, however, that no part of the proceeds of any borrowing Revolving Loan or Letter of Credit will be used, whether directly or indirectly, for any purpose that entails a violation of any of Regulations T, U and X of the Board. The Borrower will not request any borrowing or Letter of Credit, and the Borrower shall not use, and shall procure that its Subsidiaries and, to its knowledge, its or their respective directors, officers, employees and agents (in each case, in its respective capacity as such) shall not use, the proceeds of any borrowing or Letter of Credit (A) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (B) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, in either case, in violation of law or (C) in any manner that would result in the violation of any Sanctions applicable to any party hereto.

Appears in 4 contracts

Samples: Credit Agreement (Northern States Power Co), Credit Agreement (Northern States Power Co), Credit Agreement (Northern States Power Co)

Use of Proceeds and Letters of Credit. The proceeds of the Revolving Loans and Letters of Credit shall be used for general corporate purposes of the Borrower and its Subsidiaries; provided, however, that no part of the proceeds of any borrowing Revolving Loan or Letter of Credit will be used, whether directly or indirectly, for any purpose that entails a violation of any of Regulations T, U and X of the Board. The Borrower will not request any borrowing Borrowing or Letter of Credit, and the Borrower shall not use, and shall procure that its Subsidiaries and, to its knowledge, its or their respective directors, officers, employees and agents (in each case, in its respective capacity as such) shall not use, the proceeds of any borrowing Borrowing or Letter of Credit (A) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (B) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, in either case, in violation of law or (C) in any manner that would result in the violation of any Sanctions applicable to any party hereto.

Appears in 3 contracts

Samples: Credit Agreement (Northern States Power Co), Credit Agreement (Northern States Power Co), Credit Agreement (Northern States Power Co)

Use of Proceeds and Letters of Credit. The proceeds of the Revolving Loans and Letters of Credit shall will be used only for general corporate purposes of the Borrower and its Subsidiaries; provided, however, that no (including without limitation to finance Acquisitions). No part of the proceeds of any borrowing or Letter of Credit Loan will be used, whether directly or indirectly, for any purpose that entails a violation of any of the Regulations of the Board, including Regulations T, U and X of the Board. X. The Borrower will not request any borrowing Borrowing or Letter of Credit, and the Borrower shall not use, and shall procure that its Subsidiaries and, to its knowledge, and its or their respective directors, officers, employees and agents (in each case, in its respective capacity as such) shall not use, the proceeds of any borrowing Borrowing or Letter of Credit (A) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws or Anti-Terrorism Laws, (B) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, in either case, in violation of law or (C) in any manner that would result in the violation of any Sanctions or Anti-Terrorism Laws applicable to any party hereto.

Appears in 2 contracts

Samples: Guaranty Agreement (Macquarie Infrastructure Corp), Guaranty Agreement (Macquarie Infrastructure Co LLC)

Use of Proceeds and Letters of Credit. The proceeds of the Revolving Loans shall be used for, and the Letters of Credit shall only be used for general corporate issued for, the purposes of the Borrower and its Subsidiaries; provided, however, that no described in Section 3.15(a). No part of the proceeds of any borrowing or Letter of Credit Loan will be used, whether directly or indirectly, for any purpose that entails a violation of any of the regulations of the Federal Reserve Board, including Regulations T, U and X of the Board. X. The Borrower will not request any borrowing Borrowing or Letter of Credit, and the Borrower shall not use, and shall procure that its Subsidiaries and, to its knowledge, and its or their respective directors, officers, employees and agents (in each case, in its respective capacity as such) shall not use, the proceeds of any borrowing Borrowing or Letter of Credit (Aa) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (Bb) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, in either caseexcept to the extent permitted for a Person required to comply with Sanctions, in violation of law or (Cc) in any manner that would result in the violation of any Sanctions applicable to any party hereto.

Appears in 2 contracts

Samples: Senior Secured Revolving Credit Agreement (Excelerate Energy, Inc.), Secured Revolving Credit Agreement (Excelerate Energy, Inc.)

Use of Proceeds and Letters of Credit. The proceeds of the Revolving Loans and Letters of Credit shall will be used only for working capital needs and general corporate purposes purposes, including the repayment of the Borrower debt and its Subsidiaries; provided, however, that no permitted acquisitions. No part of the proceeds of any borrowing or Letter of Credit Loan will be used, whether directly or indirectly, for any purpose that entails a violation of any of the Regulations of the Board, including Regulations T, U and X X. Letters of the BoardCredit will be issued only to support working capital needs and general corporate purposes. The Borrower will not request any borrowing Borrowing or Letter of Credit, and the Borrower shall not use, and shall procure that its Subsidiaries and, to its knowledge, and its or their respective directors, officers, employees and agents (in each case, in its respective capacity as such) shall not use, the proceeds of any borrowing Borrowing or Letter of Credit (A) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (B) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, in either case, in violation of law or (C) in any manner that would result in the violation of any Sanctions applicable to any party hereto.

Appears in 2 contracts

Samples: Revolving Credit and Term Loan Agreement (Healthcare Trust of America Holdings, LP), Revolving Credit and Term Loan Agreement (Healthcare Trust of America Holdings, LP)

Use of Proceeds and Letters of Credit. The proceeds of the Revolving Loans and Letters of Credit shall will be used only for general limited liability company or corporate purposes (including the making of the Borrower and its Subsidiaries; providedacquisitions), howeverbut in no event for any purpose that would be contrary to Section 4.01(g), that no 4.01(h) or 4.01(k). No part of the proceeds of any borrowing or Letter of Credit Loan will be used, whether directly or indirectly, for any purpose that entails a violation of any of the regulations of the Federal Reserve Board, including Regulations T, U and X of the Board. X. The Borrower will not request any borrowing Borrowing or use any Letter of Credit, and the Borrower shall not use, and shall procure ensure that its Subsidiaries and, to its knowledge, and its or their respective directors, officers, employees and agents (in each case, in its respective capacity as such) shall not use, directly or indirectly, the proceeds of any borrowing Borrowing or Letter of Credit (Aa) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (Bb) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, in either case, in violation of law or (Cc) in any manner that would result in the violation of any Sanctions applicable to any party heretohereto (including any Person participating in the Loans hereunder, whether as underwriter, advisor, investor, lender, hedge provider, facility or security agent or otherwise).

Appears in 1 contract

Samples: Credit Agreement

Use of Proceeds and Letters of Credit. The proceeds of the Revolving Loans and Letters of Credit shall will be used only for general corporate purposes purposes, including, at the option of the Borrower and its Subsidiaries; providedBorrower, however, that no to refinance any Indebtedness of the Borrower. No part of the proceeds of any borrowing or Letter of Credit Loan will be used, whether directly or indirectly, for any purpose that entails a violation of any of the Regulations of the Board, including Regulations T, U and X X. Letters of the BoardCredit will be issued only for general corporate purposes. The Borrower will not request any borrowing Borrowing or Letter of Credit, and the Borrower shall not use, and shall procure that its Subsidiaries and, to its knowledge, and its or their respective directors, officers, employees and agents (in each case, in its respective capacity as such) shall not use, the proceeds of any borrowing Borrowing or Letter of Credit (A) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (B) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, in either case, in violation of law or (C) in any manner that would result in the violation of any Sanctions applicable to any party hereto.

Appears in 1 contract

Samples: Credit Agreement (Tesoro Corp /New/)

Use of Proceeds and Letters of Credit. The proceeds of the Revolving Loans and Letters of Credit shall will be used only for working capital and general corporate purposes of the Borrower and its Subsidiaries; provided, however, that no . No part of the proceeds of any borrowing or Letter of Credit Loan will be used, whether directly or indirectly, for any purpose that entails a violation of any of the Regulations Tof the Federal Reserve Board, including Regulations U and X X. Letters of Credit will be issued only to support the general corporate purposes of the BoardBorrower and its Subsidiaries. The Borrower will not request any borrowing Borrowing or Letter of Credit, and the Borrower shall not use, and shall procure that or permit its Subsidiaries and, to its knowledge, and its or their respective directors, officers, employees and agents (in each case, in its respective capacity as such) shall not to use, the proceeds of any borrowing Borrowing or Letter of Credit (Aa) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, in any material respect, (Bb) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, in either each case, to the extent that would be prohibited by Sanctions if conducted by a corporation incorporated in violation of law the United States or (Cc) in any other manner that would result in the material violation of any Sanctions applicable to any party heretoto this Agreement.

Appears in 1 contract

Samples: Revolving Credit Agreement (Marathon Petroleum Corp)

Use of Proceeds and Letters of Credit. The proceeds of the Revolving Loans and Letters Letter of Credit shall will be used only for refinancing existing Indebtedness and for general corporate purposes of the Borrower and its Subsidiaries; provided, however, that no purposes. No part of the proceeds of any borrowing or Letter of Credit Loan will be used, whether directly or indirectly, for any purpose that entails a violation of any of the Regulations of the Federal Reserve Board, including Regulations T, U and X of the Board. X. The Borrower will not request any borrowing Borrowing or Letter of Credit, and the Borrower shall not use, and shall procure ensure that its Subsidiaries and, to its knowledge, and its or their respective directors, officers, employees and agents (in each case, in its respective capacity as such) shall not use, the proceeds of any borrowing Borrowing or Letter of Credit (A) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (B) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, to the extent such activities, business or transaction would be prohibited by Sanctions if conducted by a corporation incorporated in either casethe United States or in a European Union member state, in violation of law or (C) in any manner that would result in the violation of any Sanctions applicable to any party hereto.

Appears in 1 contract

Samples: Credit Agreement (Marcus Corp)

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Use of Proceeds and Letters of Credit. The Letters of Credit and the proceeds of the Revolving Loans and Letters of Credit shall will be used for general corporate purposes of the Borrower and its Subsidiaries; provided, however, that no or for working capital needs. No part of the proceeds of any borrowing or Letter of Credit Loan will be used, whether directly or indirectly, for any purpose that entails a violation of any of the Regulations T, U and X of the Board. , including Regulations U and X. The Borrower will not request any borrowing Borrowing or Letter of Credit, and the Borrower Credit Parties shall not use, and shall procure that its Subsidiaries and, to its knowledge, the Companies and its or their respective directors, officers, employees and agents (in each case, in its respective capacity as such) shall THIRD AMENDED AND RESTATED CREDIT AND GUARANTEE AGREEMENT – Page 66 not use, the proceeds of any borrowing Borrowing or Letter of Credit (A) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (B) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, in either caseexcept to the extent permitted for a Person required to comply with Sanctions, in violation of law or (C) in any manner that would result in the violation of any Sanctions applicable to any party hereto.

Appears in 1 contract

Samples: Credit and Guarantee Agreement (H&r Block Inc)

Use of Proceeds and Letters of Credit. The proceeds of the Revolving Loans and Letters of Credit shall be used for general corporate purposes of the NEWYORK 9337361 Borrower and its Subsidiaries; provided, however, that no part of the proceeds of any borrowing Revolving Loan or Letter of Credit will be used, whether directly or indirectly, for any purpose that entails a violation of any of Regulations T, U and X of the Board. The Borrower will not request any borrowing Borrowing or Letter of Credit, and the Borrower shall not use, and shall procure that its Subsidiaries and, to its knowledge, its or their respective directors, officers, employees and agents (in each case, in its respective capacity as such) shall not use, the proceeds of any borrowing Borrowing or Letter of Credit (A) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (B) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, in either case, in violation of law or (C) in any manner that would result in the violation of any Sanctions applicable to any party hereto.

Appears in 1 contract

Samples: Credit Agreement (Northern States Power Co)

Use of Proceeds and Letters of Credit. The proceeds of the Revolving Loans and Letters of Credit shall be used for general corporate purposes of the Borrower and its Subsidiaries; provided, however, that no part of the proceeds of any borrowing Revolving Loan or Letter of Credit will be used, whether directly or indirectly, for any purpose that entails a violation of any of Regulations T, U and X of the Board. The Borrower will not request any borrowing Borrowing or Letter of Credit, and the Borrower shall not use, and shall procure that its Subsidiaries and, to its knowledge, its or their respective directors, officers, employees and agents (in each case, in its respective capacity as such) shall not use, the proceeds of any borrowing Borrowing or Letter of Credit (A) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (B) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or 49 NEWYORK 9337890 in any Sanctioned Country, in either case, in violation of law or (C) in any manner that would result in the violation of any Sanctions applicable to any party hereto.

Appears in 1 contract

Samples: Credit Agreement (Northern States Power Co)

Use of Proceeds and Letters of Credit. The proceeds of the Revolving Loans and Letters of Credit shall be used for general corporate purposes of the Borrower and its Subsidiaries; provided, however, that no part of the proceeds of any borrowing Revolving Loan or Letter of Credit will be used, whether directly or indirectly, for any purpose that entails a violation of any of Regulations T, U and X of the Board. The Borrower will not request any borrowing or Letter of Credit, and the Borrower shall not use, and shall procure that its Subsidiaries and, to its knowledge, its or their respective directors, officers, employees and agents (in each case, in its respective capacity as such) shall not use, the proceeds of any borrowing or Letter of Credit (A) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (B) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned AMERICAS 91292616 Country, in either case, in violation of law or (C) in any manner that would result in the violation of any Sanctions applicable to any party hereto.

Appears in 1 contract

Samples: Credit Agreement (Northern States Power Co)

Use of Proceeds and Letters of Credit. The proceeds of the Revolving Loans and Letters of Credit shall will be used only to refinance the Existing Credit Agreement and for general corporate purposes of the Borrower and its Subsidiaries; provided, however, that no purposes. No part of the proceeds of any borrowing or Letter of Credit Loan will be used, whether directly or indirectly, for any purpose that entails a violation of any of the Regulations of the Board, including Regulations T, U and X X. Letters of the BoardCredit will be issued only to support general corporate purposes. The Borrower Borrowers will not request any borrowing Borrowing or Letter of Credit, and the Borrower Borrowers shall not use, and shall procure that its Subsidiaries and, to its knowledge, and its or their respective directors, officers, employees and agents (in each case, in its respective capacity as such) shall not use, directly, or, to its knowledge, indirectly the proceeds of any borrowing Borrowing or Letter of Credit (Aa) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any applicable Anti-Corruption Laws, (Bb) for the purpose of directly, or, to its knowledge, indirectly funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, to the extent such activities, businesses or transaction would be prohibited by Sanctions if conducted by a corporation incorporated in either case, the United States or in violation of law a European Union member state or (Cc) in any manner that would result in the violation of any Sanctions applicable to any party hereto.

Appears in 1 contract

Samples: Assignment and Assumption (Ingredion Inc)

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