Use of the Credit Facility Sample Clauses

Use of the Credit Facility. The Borrowers shall use the Revolving Loans only for the purposes stated in Section 2.1. The Borrowers shall use Letters of Credit only for the purposes stated in Section 3.1(b).
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Use of the Credit Facility. The Company undertakes that the Credit Facility shall be used for general operational purposes of the Company, including payment of rent, salaries and other operational expenses, as well as for the purpose of paying expenses in connection with the IPO.
Sample 1
Use of the Credit Facility. The handing over of the resources of this Agreement (Credit Amount), shall be made by the "CREDITOR" preferably in a single exhibition by means of a wire transfer, it being understood as delivery date that which contains the receipt of the wire transfer made in favor of the "DEBTOR", precisely for the handing over of the Credit resources to the bank account indicated by the "DEBTOR" for such purposes, in subsection o), of "Annex E". As an exception to the provisions of the preceding paragraph and in certain cases, the "CREDITOR" may make the amount of the Credit available to the "DEBTOR" by means of Check or Cash, provided that this is previously agreed upon by the "Parties" involved in this Agreement. The contracting "Parties" agree that the book entries, account statements, movement consultation and the documents issued by the "CREDITOR" in connection with the Agreement, shall be conclusive evidence of the drawdown of the Credit granted.
Sample 1
Use of the Credit Facility. The Credit Facility may be used for (i) warehousing of Eligible Lease Receivables, (ii) general corporate purposes of the Borrower, including funding of Eligible LVIP, Other Eligible Receivables and Non-Qualifying Lease Receivables, and (iii) issuing of Letters of Credit up to $10,000,000 at any time outstanding; provided however the Credit Facility may not be utilized to fund (w) Acquisitions (as contemplated by clause (b) of the definition of Permitted Acquisition), (x) loans or advances to PHH (as contemplated in Section 8.3(2)(b)), (y) Distributions to PHH (as contemplated by Section 8.3(2)(d)) or (z) payments on account of Permitted Intercompany Loans (as contemplated by Section 8.3(2)(d)) .
Sample 1
Use of the Credit Facility. 6.3.1. Expiration of the Credit Facility Utilization Period: April 26, 2014 (inclusive). Upon expiration of the Credit Facility Utilization Period the Borrower shall be deprived of the right to receive the Credit Tranches in accordance with the terms hereof.
Sample 1
Use of the Credit Facility. The Borrower shall utilize the Credit Facility for general corporate purposes, provided that the Credit Facility shall not be used in connection with hostile takeovers without the prior unanimous consent of the Lenders expressed in writing.
Sample 1

Related to Use of the Credit Facility

  • The Credit Facility 2.1 The Revolving Credit Facility Each Lender severally agrees, on the terms and conditions set forth herein, to make loans to the Borrower (each such loan, a “Revolving Loan”) from time to time on any Business Day during the period from the Closing Date to the Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding, together with the principal amount of Term Loans outstanding in favor of such Lender at such time, the amount set forth next to such Lender’s name on Schedule 1 (such amount together with the Lender’s Pro Rata Share of the Term Commitment, as the same may be reduced under Section 2.10 or as a result of one or more assignments under Section 10.8, the Lender’s “Commitment”); provided, however, that, after giving effect to any Borrowing of Revolving Loans, the Effective Amount of all outstanding Revolving Loans shall not at any time exceed the combined Commitments; and provided further that the Effective Amount of the Revolving Loans, together with all Term Loans outstanding at such time, of any Lender shall not at any time exceed such Lender’s Commitment. Within the limits of each Lender’s Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.1, prepay under Section 3.3 and reborrow under this Section 2.1.

  • The Credit Facilities Section 2.1 The Revolving Credit Facility.

  • 01 of the Credit Agreement Section 1.01 of the Credit Agreement is hereby amended as follows:

  • of the Credit Agreement Section 7.13 of the Credit Agreement is hereby amended and restated in its entirety as follows:

  • Amendment of the Credit Agreement Effective as of the Amendment Effective Date (as defined below):

  • Credit Facility This Warrant to Purchase Stock (“Warrant”) is issued in connection with that certain Mezzanine Loan and Security Agreement of even date herewith between Silicon Valley Bank and the Company (as amended and/or modified and in effect from time to time, the “Loan Agreement”). THIS WARRANT CERTIFIES THAT, for good and valuable consideration, SILICON VALLEY BANK (together with any successor or permitted assignee or transferee of this Warrant or of any shares issued upon exercise hereof, “Holder”) is entitled to purchase up to such number of fully paid and non-assessable shares of the above-stated Type/Series of Stock (the “Class”) of the above-named company (the “Company”) as determined pursuant to Paragraph A below, at the above-stated Warrant Price, all as set forth above and as adjusted pursuant to Section 2 of this Warrant, subject to the provisions and upon the terms and conditions set forth in this Warrant. Reference is made to Section 5.4 of this Warrant whereby Silicon Valley Bank shall transfer this Warrant to its parent company, SVB Financial Group.

  • Credit Facilities 23 2.1 Loans........................................................................................................... 23 2.2 Letter of Credit Accommodations................................................................................. 24 2.3 Commitments..................................................................................................... 28

  • The Credit Agreement (b) The Notes executed by the Borrower and delivered on the date hereof. The documents described in the foregoing clauses (a) and (b) are collectively referred to herein as the “Opinion Documents.” We have also reviewed originals or copies of such other agreements and documents as we have deemed necessary as a basis for the opinion expressed below. In our review of the Opinion Documents and other documents, we have assumed:

  • Revolving Credit Facility (i) Subject to the terms and conditions hereof, each Lender severally agrees to make available to Borrowers from time to time until the Commitment Termination Date its Pro Rata Share of advances (each, a “Revolving Credit Advance”). The Pro Rata Share of the Loans of any Lender shall not at any time exceed its separate Commitment. The obligations of each Lender hereunder shall be several and not joint. Until the Commitment Termination Date, Borrowers may borrow, repay and reborrow under this Section 2.1(a); provided, that (x) the amount of any Revolving Credit Advances to be made at any time shall not exceed Availability at such time, (y) the amount of any Revolving Credit Advances to be made to the U.S. Borrowers at any time shall not exceed the U.S. Availability at such time and (z) the amount of any Revolving Credit Advances to be made to the Canadian Borrowers at any time shall not exceed the Canadian Availability at such time. Each Revolving Credit Advance shall be made on notice by Borrower Representative to one of the representatives of Agent identified in Schedule (2.1) at the address specified therein. Any such notice must be given no later than (1) 12 noon (New York, New York time) on the date of the proposed Revolving Credit Advance, in the case of a Base Rate Loan, or (2) 12 noon (New York, New York time) on the date which is three (3) Business Days’ prior to the proposed Revolving Credit Advance, in the case of a LIBOR Loan. Each such notice (a “Notice of Revolving Credit Advance”) may be given verbally by telephone but must be immediately confirmed in writing (by fax, electronic mail or overnight courier) substantially in the form of Exhibit 2.1(a)(i), and shall include the information required in such Exhibit. If any Borrower desires to have the Revolving Credit Advances bear interest by reference to a LIBOR Rate, with respect to LIBOR Loans denominated in Dollars, and BA Rate, with respect to LIBOR Loans denominated in Canadian Dollars, Borrower Representative must comply with Section 2.5(e). All Revolving Credit Advances (x) made to a U.S. Borrower shall be denominated in Dollars and (y) made to a Canadian Borrower shall be denominated in Dollars or Canadian Dollars but shall be deemed to have been made (in the case of Canadian Dollar Revolving Credit Advances) in the Dollar Equivalent of such Revolving Credit Advance.

  • The Letter of Credit Facility (i) Subject to the terms and conditions hereinafter set forth (A) Issuing Bank agrees, in reliance on the Agreements of the Lenders set forth in this Section (1) to issue Letters of Credit for the account of any Borrower from time to time on any Business Day during the period from the Effective Date hereof until 10 days before the Termination Date in an aggregate Available Amount for all Letters of Credit not to exceed at any time the lesser of (x) the Letter of Credit Facility at such time and (y) the Unused Revolving Credit Commitments of the Lenders at such time (provided that in no event shall the Issuing Bank be required to issue a Letter of Credit if, after giving effect to such issuance, the aggregate amount of the Revolving Credit Exposures of all Lenders shall exceed the Revolving Credit Availability at such time) and to amend or extend Letters of Credit previously issued by it in accordance with the terms of this Section 2.16, and (2) to honor drawings under the Letters of Credit, and (B) the Lenders severally agree to participate in Letters of Credit issued for the account of any Borrower and any drawings thereunder. Each request by a Borrower for the issuance or amendment of a Letter of Credit shall be deemed to be a representation by the Borrowers that the issuance, extension or amendment of the Letter of Credit so requested complies with the conditions set forth in the preceding sentence. Within the foregoing limits, and subject to the terms and conditions hereof, each Borrower’s ability to obtain Letters of Credit shall be fully revolving, and accordingly such Borrower may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit that have expired or that have been drawn upon and reimbursed.

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