Use of Loan Proceeds definition

Use of Loan Proceeds. Use of the proceeds of each of the disbursements under the Loan solely for the purposes set forth in this Agreement. Use its best efforts to require the General Contractor and each Subcontractor to comply with all rules, regulations, ordinances and laws bearing on its conduct of work on the Project. By "re-incorporation", "merger" or otherwise change the Borrower's state of incorporation to a state other than South Dakota. Borrower shall not engage in any line of business materially different from that presently engaged in by the Borrower. Initials on behalf of Borrower: /s/ D.L.S.
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Use of Loan Proceeds. Shall use the proceeds of the Loan only for the commercial purposes permitted herein or otherwise permitted by the Bank and furnish the bank all evidence that it may reasonably require with respect to such use.
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Use of Loan Proceeds. Borrowings under the Loan shall be used to support the working capital needs of the Borrower.
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Examples of Use of Loan Proceeds in a sentence

  • REQUIREMENTS FOR USE OF LOAN PROCEEDS AND RECEIPTS · Borrower will obtain and itemize receipts (paid receipts, paid invoices or cancelled checks) and contracts for all Loan funds spent and retain these receipts for 3 years from the date of the final disbursement.

  • USE OF LOAN PROCEEDS...................................................

  • USE OF LOAN PROCEEDS AND LETTERS OF CREDIT ................................

  • USE OF LOAN PROCEEDS Neither Parent Borrower nor any of its Subsidiaries is engaged principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying any Margin Stock.

  • REQUIRED USE OF LOAN PROCEEDS: Purchase greenhouse property, Mount Carmel, PA and make planned improvements.

  • FEDERAL RESERVE REGULATIONS; USE OF LOAN PROCEEDS 72 74 SECTION 3.09.

  • USE OF LOAN PROCEEDS ·Borrower will use all the proceeds of this Loan solely as working capital to alleviate economic injury caused by disaster occurring in the month of January 31, 2020 and continuing thereafter and for loans of more than $25,000 to pay Uniform Commercial Code (UCC) lien filing fees and a third-party UCC handling charge of $100 which will be deducted from the Loan amount stated above.

  • FEDERAL RESERVE REGULATIONS; USE OF LOAN PROCEEDS 6972 Table of Contents (continued) Page SECTION 3.09.


More Definitions of Use of Loan Proceeds

Use of Loan Proceeds. To provide working capital needs of the Company for up to 12 months commencing on the date of the first distribution of Loan proceeds subject to the conditions precedent contained herein and the loan documentation.
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Related to Use of Loan Proceeds

  • Loan Proceeds means all amounts advanced as part of the Loan, whether advanced directly to Borrower or otherwise.

  • Construction Loan Agreement means the Loan Agreement to be entered into by and between the Construction Lender and the Partnership, as amended.

  • Collateral Proceeds means the Liquidation Proceeds of the Relevant Collateral or any Undeliverable Assets forming part of the Relevant Collateral (as the case may be) denominated in the Settlement Currency.

  • Delayed Draw Term Loan Lender means a Lender with a Delayed Draw Term Loan Commitment or an outstanding Delayed Draw Term Loan.

  • Delayed Draw Term Loan has the meaning specified in Section 2.01(b).

  • Refinancing Proceeds means the proceeds of the refinancing of any indebtedness of the Company, less the amount of expenses incurred by or on behalf of the Company in connection with such refinancing.

  • Term Loan A has the meaning set forth in Section 2.2(a).

  • Term Loan Note means a promissory note made by the Borrower in favor of a Term Loan Lender evidencing the portion of the Term Loans made by such Term Loan Lender, substantially in the form attached as Exhibit A-3, and any substitutes therefor, and any replacements, restatements, renewals or extension thereof, in whole or in part.

  • Construction Loan means the loan to finance construction of the Apartment Housing, made to Owner by the Construction Lender.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Delayed Draw Term Loan Commitment means the Lender’s obligation to make the Delayed Draw Term Loan to the Borrower pursuant to Section 2.01(a), as such amount may be adjusted from time to time in accordance with this Agreement.

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Financing Proceeds means the net proceeds from any loan secured by all or any portion of the Partnership's real property (including any refinancing) that remain after the repayment of any indebtedness of the Partnership secured by all or a portion of such real property with such proceeds and all costs related to such loan.

  • Delayed Draw Term Loans has the meaning as set forth in Section 2.5(a).

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

  • Facility A means the term loan facility made available under this Agreement as described in paragraph (a) of Clause 2.1 (The Facilities).

  • Existing Revolving Credit Agreement means that certain Revolving Credit Agreement, dated as of August 29, 2018, among the Borrower, the other borrowers party thereto, the lenders and letter of credit issuers from time to time party thereto and Xxxxx Fargo Bank, National Association, as administrative agent (as amended, restated, supplemented or otherwise modified from time to time).

  • Term Loan Credit Agreement shall have the meaning set forth in the recitals hereto.

  • Letter of Credit Agreement has the meaning specified in Section 2.03(a).

  • Term Loan Collateral means all of the assets of any Grantor, whether real, personal or mixed, upon which a Lien is granted or purported to be granted to any Term Loan Agent under any of the Term Loan Collateral Documents.

  • Borrower Loan Agreement means this Borrower Loan Agreement.

  • Discount Proceeds means, with respect to any B/A, an amount (rounded upward, if necessary, to the nearest Cdn.$.01) calculated by multiplying (a) the face amount of such B/A by (b) the quotient obtained by dividing (i) one by (ii) the sum of (A) one and (B) the product of (x) the Discount Rate (expressed as a decimal) applicable to such B/A and (y) a fraction of which the numerator is the Contract Period applicable to such B/A and the denominator is 365, with such quotient being rounded upward or downward to the fifth decimal place and .000005 being rounded upward.

  • Term Loan B has the meaning set forth in Section 2.2(b).

  • Net Financing Proceeds means the cash proceeds received by the Partnership in connection with any borrowing by or on behalf of the Partnership (whether or not secured), or distributed to the Partnership in respect of any such borrowing by any Subsidiary Entity, after deduction of all costs and expenses incurred by the Partnership in connection with such borrowing, and after deduction of that portion of such proceeds used to repay any other indebtedness of the Partnership, or any interest or premium thereon.

  • Line of Credit Note shall have the meaning given the term in Section 2.1.a.

  • Term Loan Notes means the promissory notes of the Borrower (if any) in favor of any of the Term Loan Lenders evidencing the portion of the Term Loan provided by any such Term Loan Lender pursuant to Section 2.2(a), individually or collectively, as appropriate, as such promissory notes may be amended, modified, extended, restated, replaced, or supplemented from time to time.