Common use of Use of Proceeds; Margin Securities Clause in Contracts

Use of Proceeds; Margin Securities. Debtor is not engaged principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of regulations of the Board of Governors of the Federal Reserve System), and no part of the proceeds of any Loan will be used to purchase or carry any margin stock or to extend credit to others for the purpose of purchasing or carrying margin stock.

Appears in 4 contracts

Samples: Loan and Security Agreement (Legacy Housing Corp), Loan and Security Agreement (Legacy Housing Corp), Loan and Security Agreement (Blue Dolphin Energy Co)

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Use of Proceeds; Margin Securities. Debtor is not engaged principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of regulations of the Board of Governors of the Federal Reserve System), and no part of the proceeds of any Loan Advance will be used to purchase or carry any margin stock or to extend credit to others for the purpose of purchasing or carrying margin stock.

Appears in 3 contracts

Samples: Loan and Security Agreement (H/Cell Energy Corp), Loan and Security Agreement (Enova International, Inc.), Loan and Security Agreement (Enova International, Inc.)

Use of Proceeds; Margin Securities. Debtor Borrower is not engaged principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying selling margin stock (within the meaning of regulations as defined in Regulation U of the Board of Governors of the Federal Reserve System)) or extending credit to others for the purpose of purchasing or carrying margin stock and, and notwithstanding Section 5.8 hereof, no part of the proceeds of any Loan borrowing hereunder will be used to purchase or carry any margin stock or to extend credit to others for any other purpose which would violate any of the purpose margin regulations of purchasing or carrying margin stocksuch Board of Governors.

Appears in 2 contracts

Samples: Credit Agreement (Gulf Island Fabrication Inc), Credit Agreement (Gulf Island Fabrication Inc)

Use of Proceeds; Margin Securities. Debtor is Debtors are not engaged principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of regulations of the Board of Governors of the Federal Reserve System), and no part of the proceeds of any Loan Advance will be used to purchase or carry any margin stock or to extend credit to others for the purpose of purchasing or carrying margin stock.

Appears in 1 contract

Samples: Loan and Security Agreement (AmeriCrew Inc.)

Use of Proceeds; Margin Securities. Debtor Borrower is not engaged principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of regulations Regulations G, T, U, or X of the Board of Governors of the Federal Reserve System), and no part of the proceeds of any Loan extension of credit under this Agreement will be used to purchase or carry any such margin stock or to extend credit to others for the purpose of purchasing or carrying margin stock.

Appears in 1 contract

Samples: Loan Agreement (First Wave Marine Inc)

Use of Proceeds; Margin Securities. Debtor No Borrower is not engaged principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of regulations Regulations G, T, U, or X of the Board of Governors of the Federal Reserve System), and no part of the proceeds of any Loan will be used to purchase or carry any margin stock or to extend credit to others for the purpose of purchasing or carrying margin stock.

Appears in 1 contract

Samples: Loan Agreement (Integrated Performance Systems Inc)

Use of Proceeds; Margin Securities. Debtor The Borrower is not engaged principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of regulations Regulations G, T, U, or X of the Board of Governors of the Federal Reserve System), and no part of the proceeds of any Loan Advance will be used to purchase or carry any margin stock or to extend credit to others for the purpose of purchasing or carrying margin stock.

Appears in 1 contract

Samples: Loan Agreement (Advanced Environmental Recycling Technologies Inc)

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Use of Proceeds; Margin Securities. Debtor Neither the Borrower nor any of its Subsidiaries is not engaged principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of regulations Regulations U or X of the Board of Governors of the Federal Reserve System), and no part of the proceeds of any the Term Loan will be used to purchase or carry any margin stock or to extend credit to others for the purpose of purchasing or carrying margin stock.

Appears in 1 contract

Samples: Term Loan Agreement (Pillowtex Corp)

Use of Proceeds; Margin Securities. Debtor No Borrower, General Partner or Limited Partner is not engaged principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of regulations Regulations G, T, U, or X of the Board of Governors of the Federal Reserve System), and no part of the proceeds of any Loan will be used to purchase or carry any margin stock or to extend credit to others for the purpose of purchasing or carrying margin stock.

Appears in 1 contract

Samples: Loan Agreement (Castle Energy Corp)

Use of Proceeds; Margin Securities. Debtor Such Borrower is not engaged principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of regulations of the Board of Governors of the Federal Reserve System), and no part of the proceeds of any Loan Advance will be used to purchase or carry any margin stock or to extend credit to others for the purpose of purchasing or carrying margin stock.

Appears in 1 contract

Samples: Loan and Security Agreement (Digerati Technologies, Inc.)

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