Use of Proceeds and Revenues. (a) Use the proceeds of the Loans and request the issuance of Letters of Credit, only for the purposes specified in Section 4.16; provided, that on and after the Amended and Restated Effective Date, no more than an aggregate of $2,000,000 of proceeds of extensions of credit hereunder shall be applied toward Project Costs with respect to the Phase I Project. For purposes of this Section 6.11(a), until the Amended and Restated Disbursement Agreement Effective Date, (x) all Advances made from the Bank Proceeds Account, the 2014 Notes Proceeds Account and from the Revolving Credit Facility in respect of Project Costs related to the Phase I Project shall be deemed to have been drawn in accordance with the ratio set forth in Section 2.4.1(b) of the Disbursement Agreement and (y) the Company may allocate Advances from the Company’s Funds Account or the Company’s Concentration Account between the Phase I Project and the Phase II Project at its discretion.
Use of Proceeds and Revenues. 16.1 Use the proceeds of each of the Facilities only for the purposes specified or allowed in this Agreement and the Facility Agreement relating to such Facility.
Use of Proceeds and Revenues. No portion of the proceeds of the Loan shall be used by Borrowers in any manner that might cause the borrowing or the application of such proceeds to violate Regulation D, Regulation T or Regulation X or any other regulation of CONA – Healthcare Trust, Inc. 92119388.8 the Board of Governors of the Federal Reserve System or to violate the Securities Act of 1933 or the Securities Exchange Act of 1934. Revenues and other proceeds from the Projects received by Borrowers shall be applied to the Obligations then due and owing in any month under the Loan Documents and Environmental Indemnity Agreement, actual operating expenses relating to the Projects of the type included in the definition of “Adjusted Expenses”, or other budgeted capital improvements, repairs or replacements for the Projects before distribution by Borrowers to members, partners or shareholders, as applicable, or any other Borrower Party. No distribution may be made by any Borrower to its members, partners or shareholders, as applicable, or to any other Borrower Party during any period in which (a) an Event of Default is in existence or (b) Borrowers are required to deposit Excess Cash Flow into the Project Yield Fund.
Use of Proceeds and Revenues. (a) Use the proceeds of the Loans and request the issuance of Letters of Credit, only for the purposes specified in Section 4.16; provided, that (i) no more than [$963,200,000] of proceeds of extensions of credit hereunder shall be available for application toward Project Costs and (ii) in addition to and without duplication of proceeds of extensions of credit available under clause (i) above with respect to Project Costs, no more than an additional [$33,800,000] of proceeds of extensions of credit hereunder shall be available during the Additional Completion Period for application toward Debt Service due and payable during the Additional Completion Period.
Use of Proceeds and Revenues. Each Obligor shall:
Use of Proceeds and Revenues. No portion of the proceeds of the Loan shall be used by Borrowers in any manner that might cause the borrowing or the application of such proceeds to violate Regulation D, Regulation T or Regulation X or any other regulation of the Board of Governors of the Federal Reserve System or to violate the Securities Act of 1933 or the Securities Exchange Act of 1934. Revenues and other proceeds from the Projects received by Borrowers shall be applied to the Obligations due under the Loan Documents, actual operating expenses relating to the Projects of the type included in the definition of “Adjusted Expenses”, or other budgeted capital improvements, repairs or replacements for the Projects before distribution by Borrowers to members, partners or shareholders, as applicable, or to any other Borrower Party.
Use of Proceeds and Revenues. (a) Use the proceeds of the Loans and request the issuance of Letters of Credit, only for the purposes specified in Section 4.16; provided, that (i) no more than $968,490,525 (or, during such times as the conditions set forth in Section 3.3.22(b) of the Disbursement Agreement have not been satisfied or waived, $963,490,525) of proceeds of extensions of credit hereunder shall be available for application toward Project Costs and (ii) in addition to and without duplication of proceeds of extensions of credit available under clause (i) above with respect to Project Costs, no more than an additional $28,509,475 of proceeds of extensions of credit hereunder shall be available during the Additional Completion Period for application toward Debt Service due and payable during the Additional Completion Period.
Use of Proceeds and Revenues. Each Relevant Obligor shall (and the Company shall ensure that each member of the Group will):
Use of Proceeds and Revenues. No portion of the proceeds of the Loan shall be used by Borrower in any manner that might cause the borrowing or the application of such proceeds to violate Regulation D, Regulation T or Regulation X or any other regulation of the Board of Governors of the Federal Reserve System or to violate the Securities Act of 1933 or the Securities Exchange Act of 1934. Revenues and other proceeds from the Project received by LOAN AGREEMENT – Page 63[Summit Pxxxxxxxxx] Borrower shall be applied to the Obligations due under the Loan Documents, actual operating expenses relating to the Project of the type included in the definition of “Adjusted Expenses”, or other budgeted capital improvements, repairs or replacements for the Project before distribution by Borrower to members, partners or shareholders, as applicable, or to any other Borrower Party. For the avoidance of doubt, no distribution may be made by Borrower to its members, partners or shareholders, as applicable, or to any other Borrower Party during any period in which an Event of Default is in existence.
Use of Proceeds and Revenues. (a) Use the proceeds of the Loans and request the issuance of Letters of Credit, only for the purposes specified in Section 4.16; provided, that (i) no more than an aggregate of $276,000,000 of proceeds of extensions of credit hereunder shall be applied toward Project Costs with respect to the Phase I Project, (ii) no more than an aggregate of $122,000,000 of proceeds of extensions of credit hereunder shall be applied toward the funding of the Macau Loan and (iii) the aggregate proceeds of extensions of credit hereunder applied toward Project Costs with respect to the Phase II Project prior to the later of the Phase II Approval Date and the Phase I Opening Date shall not exceed at any time the difference between (A) $100,000,000 and (B) the aggregate proceeds of the 2014 Notes applied toward Project Costs with respect to the Phase II Project at such time (it being agreed that any extensions of credit hereunder or proceeds of the 2014 Notes applied on Closing Date in order to consummate the Refinancing Transaction shall not be deemed expended in furtherance of Project Costs with respect to the Phase II Project). For purposes of Section 6.11(a)(i), (x) until such time as the 2014 Notes Proceeds Account has been Exhausted, all Advances made from the Bank Proceeds Account, the 2014 Notes Proceeds Account and from the Revolving Credit Facility in respect of Project Costs related to the Phase I Project shall be deemed to have been drawn in accordance with the ratio set forth in Section 2.4.1(b) of the Disbursement Agreement and (y) the Company may allocate Advances from the Company's Funds Account between the Phase I Project and the Phase II Project at its discretion.
