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

Use of Proceeds; Margin Securities. Neither Borrower nor any Subsidiary is 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 G, T, U, or X) and no part of the proceeds of any extension of credit under this Agreement will be used to purchase or carry any such Margin Stock or extend credit to others for the purpose of purchasing or carrying Margin Stock. Neither Borrower nor any Person acting on its behalf has taken any action that might cause the transactions contemplated by this Agreement or the Note to violate Regulations G, T, U, or X or to violate the Securities Exchange Act of 1934, as amended.

Appears in 2 contracts

Samples: Loan Agreement (Venus Exploration Inc), Loan Agreement (Venus Exploration Inc)

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Use of Proceeds; Margin Securities. Neither Borrower nor any Subsidiary is not engaged principally, or as one of its important activities, in the business of extending credit for the purpose purposes of purchasing or carrying "Margin Stock" margin stock (within the meaning of Regulations G, T, U, or X) X of the Board of Governors of the Federal Reserve System), and no part of the proceeds of any extension of credit under this Agreement will be used to purchase or carry any such Margin Stock margin stock or to extend credit to others for the purpose of purchasing or carrying Margin Stockany such margin stock. Neither Borrower nor any Person acting on its behalf has taken any action that might cause the transactions contemplated by this Agreement or the Note Notes to violate Regulations G, T, U, or X or to violate the Securities Exchange Act of 1934, as amended.

Appears in 1 contract

Samples: Credit Agreement (Dril-Quip Inc)

Use of Proceeds; Margin Securities. Neither Borrower nor any Subsidiary 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" margin stock (within the meaning of Regulations G, T, UU of X of the Board of Governors of the Federal Reserve System), or X) and no part of the proceeds of any extension of credit under this Agreement will be used to purchase or carry any such Margin Stock margin stock or to extend credit to others for the purpose of purchasing or carrying Margin Stockmargin stock. Neither Borrower Borrower, nor any Person person acting on its behalf Borrower’s behalf, has taken any action that might cause the transactions contemplated by this Agreement or the Note Note, as to violate Regulations G, T, U, U or X or to violate the Securities Exchange Act of 1934, as amended.

Appears in 1 contract

Samples: Loan Agreement (American Locker Group Inc)

Use of Proceeds; Margin Securities. Neither Borrower nor any Subsidiary The Company 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" margin stock (within the meaning of Regulations G, T, UU or X of the Board of Governors of the Federal Reserve System), or X) and no part of the proceeds of any extension of credit under this Agreement will be used to purchase or carry any such Margin Stock margin stock or to extend credit to others for the purpose of purchasing or carrying Margin Stockmargin stock. Neither Borrower the Company nor any Person acting on its behalf has taken any action that might cause the transactions contemplated by this Agreement or the Note any Other Agreements to violate Regulations G, T, U, U or X or to violate the Securities Exchange Act of 1934, as amended.

Appears in 1 contract

Samples: Loan Agreement (Irata Inc)

Use of Proceeds; Margin Securities. Neither Borrower Parent nor any Subsidiary the Company is engaged principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying "Margin Stock" margin stock (within the meaning of Regulations G, T, UU or X of the Board of Governors of the Federal Reserve System), or X) and no part of the proceeds of any extension of credit under this Agreement will be used to purchase or carry any such Margin Stock margin stock or to extend credit to others for the purpose of purchasing or carrying Margin Stockmargin stock. Neither Borrower Parent, the Company nor any Person acting on its their behalf has taken any action that might cause the transactions contemplated by this Agreement Agreement, the Acquisition Documents, the Senior Loan Documents or the Note any Other Agreements to violate Regulations G, T, U, U or X or to violate the Securities Exchange Act of 1934, as amended.

Appears in 1 contract

Samples: Priority Note Purchase Agreement (Jotan Inc)

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Use of Proceeds; Margin Securities. Neither Borrower nor any Subsidiary 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" margin stock (within the meaning of Regulations G, T, UU of X of the Board of Governors of the Federal Reserve System), or X) and no part of the proceeds of any extension of credit under this Agreement will be used to purchase or carry any such Margin Stock margin stock or to extend credit to others for the purpose of purchasing or carrying Margin Stockmargin stock. Neither Borrower Borrower, nor any Person person acting on its behalf Borrower's behalf, has taken any action that might cause the transactions contemplated by this Agreement or the Note Note, as to violate Regulations G, T, U, U or X or to violate the Securities Exchange Act of 1934, as amended.

Appears in 1 contract

Samples: Loan Agreement (American Locker Group Inc)

Use of Proceeds; Margin Securities. Neither Borrower nor any Subsidiary is Borrowers 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" margin stock (within the meaning of Regulations G, T, U, or X) X of the Board of Governors of the Federal Reserve System), and no part of the proceeds of any extension of credit under this Agreement will be used to purchase or carry any such Margin Stock margin stock or to extend credit to others for the purpose of purchasing or carrying Margin Stockmargin stock. Neither Borrower Borrowers nor any Person acting on its their behalf has taken any action that might cause the transactions contemplated by this Agreement or the Note Notes to violate Regulations G, T, U, U or X or to violate the Securities Exchange Act of 1934, as amended.

Appears in 1 contract

Samples: Loan Agreement (Ascendant Solutions Inc)

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