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.
Sample 1
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.
Sample 1
Use of Loan Proceeds. Borrowings under the Loan shall be used to support the working capital needs of the Borrower.
Sample 1

Examples of Use of Loan Proceeds in a sentence

  • Notwithstanding the Use of Loan Proceeds, the Loan does not include the interests, expenses and fees of any kind the Borrower is required pay and agreed upon in this Agreement.

  • The Borrower shall use the full amount of the Loan solely and exclusively for the purposes included in the Use of Loan Proceeds.


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.
Sample 1
Use of Loan Proceeds has the meaning assigned to it in Section 5.11 hereof.
Sample 1

Related to Use of Loan Proceeds

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

  • 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).

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

  • Term Loan Note means a promissory note in the form of Exhibit B, as it may be amended, supplemented or otherwise modified from time to time.

  • 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 commitment of a Lender to make or otherwise fund a Delayed Draw Term Loan Commitment, and “Delayed Draw Term Loan Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s Delayed Draw Term Loan Commitment, if any, is set forth on Appendix A or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Delayed Draw Term Loan Commitments as of the Closing Date is Twenty Million Dollars ($20,000,000.00).

  • 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.

  • 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).

  • 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.