Permitted Purpose definition
Examples of Permitted Purpose in a sentence
Borrower has not used the proceeds of any Credit Extension other than for a Permitted Purpose.
Use the proceeds of the Advances solely for the Permitted Purpose and agrees to respond promptly to any reasonable requests for information related to ▇▇▇▇▇▇▇▇’s use of Advances to the extent required by Lender in connection with ▇▇▇▇▇▇’s determination of its compliance with Section 23A of the Federal Reserve Act (12 U.S.C. § 371c) and Regulation W.
Use the proceeds of the Term Advances solely for the Permitted Purpose and agrees to respond promptly to any reasonable requests for information related to ▇▇▇▇▇▇▇▇’s use of Term Advances to the extent required by Lender in connection with ▇▇▇▇▇▇’s determination of its compliance with Section 23A of the Federal Reserve Act (12 U.S.C. § 371c) and Regulation W.