Use of Proceeds of Notes. The Issuer shall use the proceeds of Notes solely for one or more of the following purposes: (a) to pay the Issuer’s obligations when due, in accordance with this Indenture; (b) to acquire Eligible Assets from the Seller.
Use of Proceeds of Notes. The Company will not use the credit extended under this Agreement for any purpose other than solely the purposes set forth in, or otherwise contemplated by, Section 5.14 hereof.
Use of Proceeds of Notes. The Issuer shall use the net proceeds of each Series of Notes in accordance with the provisions of the related Indenture Supplement.
Use of Proceeds of Notes. The Issuers shall use the proceeds of Notes to repay Notes, in accordance with the Indenture, to finance the acquisition of Box Trucks or as otherwise provided in any Series Supplement.
Use of Proceeds of Notes. The Partnership represents that it has used the proceeds of the Existing Subordinated Loans, and shall use the proceeds of any Promissory Notes issued pursuant to Section 5, to fund capital expenditures, repay existing indebtedness and for general corporate purposes, all in the ordinary course of business.
Use of Proceeds of Notes. AFC-II shall use the proceeds of Notes solely for one or more of the following purposes: (a) to pay amortizing Notes when due, in accordance with this Indenture; and (b) to fund Loans pursuant to the Loan Agreements.
Use of Proceeds of Notes. NFLP shall use the proceeds of Notes solely for one or more of the following purposes: (a) to pay amortizing Notes when due, in accordance with this Indenture; and (b) to acquire, finance or refinance the acquisition of Eligible Vehicles in accordance with the Lease.
Use of Proceeds of Notes. The proceeds of the sale of the Notes shall be used solely (a) to fund a portion of the purchase price of the Acquisition; and (b) for the payment of Transaction Fees payable pursuant to Section 7.8 and other fees, costs, and expenses associated with the Transactions. The Obligors and the Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds from the sale of the Notes hereunder will be used, directly or indirectly, for the purpose of buying or carrying any margin stock within the meaning of Regulation U of the Board (12 CFR 221), or for the purpose of buying or carrying or trading in any securities under such circumstances as to involve any Obligor in a violation of Regulation X of the Board (12 CFR 224) or to involve any broker or dealer in a violation of Regulation T of the Board (12 CFR 220). Margin stock does not constitute more than 24% of the value of the consolidated assets of any Obligor or any Subsidiary and none of the Obligors or the Subsidiaries have any present intention that margin stock will constitute more than 24% of the value of such assets. As used in this Section, the terms “margin stock” and “purpose of buying or carrying” shall have the meanings assigned to them in said Regulation U.
Use of Proceeds of Notes. ARG shall use the proceeds of the Group I Notes solely for one or more of the following purposes: (a) to acquire and fund the Leasing Company Notes in accordance with the Leasing Company Indentures and the related Leasing Company Group I Supplements; (b) to pay amortizing Group I Notes when due or to prepay Group I Notes in accordance with this Indenture; or (c) to make loans pursuant to the Subordinated Note in accordance with Section 8.22.
Use of Proceeds of Notes. The Issuer shall use the proceeds of Notes solely for one or more of the following purposes: (a) to pay amortizing Group I Notes when due or to prepay Group I Notes, in accordance with this Indenture and any Series Supplement; (b) to acquire Eligible Vehicles in accordance with the Lease; (c) to refinance Eligible Receivables; (d) to make loans pursuant to the Subordinated Note in accordance with Section 8.23; or (e) any other purpose permitted under the related Series Supplement.
