initial use definition
initial use or "initially used" means the first employment for the intended purpose and does not include the following activities:
initial use or "initially used" means the
initial use means (i) with respect to the Original Loan, to make a loan to Prometheus SQ Holdings Corp., an Affiliate of the Borrower, or to another directly or indirectly wholly owned (except for preferred equity held by not more than 150 Persons) subsidiary of LFSRI II, and (ii) with respect to the Additional Loan, to make a distribution to provide funds, indirectly, to make a loan in the amount of at least $5 million to ARV Assisted Living LLC ("ARV"), and to use the balance for general corporate purposes of Borrower, including for distributions, dividends and advances to other entities and which may include distributions to provide funds, indirectly, to make additional loans to ARV (any and all such loans to ARV in an aggregate amount up to $10 million during the seven-month period from and after the date of the initial loan to ARV are collectively referred to herein as the "ARV Loans").
More Definitions of initial use
initial use or "initially used" means the first
initial use shall have the meaning set forth in Section 2.2.