Example ContractsClausesestablishment and purposeVariants
Establishment and Purpose
Establishment and Purpose contract clause examples

Purpose of Loans . The proceeds of any Loans borrowed on the Closing Date are to be used solely for the Transactions set forth in the recitals to this Agreement. The proceeds of any Revolving Credit Loans borrowed from time to time after the Closing Date are to be used for the purposes set forth in the recitals to this Agreement, to finance transactions permitted by [Section 7.04], to refinance Indebtedness permitted by [Section 7.03], to make payments permitted by [Section 7.06], to provide for working capital and for other general corporate purposes of the Borrower and its Subsidiaries.

On the Closing Date, the Borrower will use the proceeds of the Term Loans to # fund all or a portion of the Refinancing, # to pay all or a portion of any related fees and expenses (including any upfront fees and original issue discount) related thereto, # to fund cash to the balance sheet of the Borrower and # for working capital and other general corporate purposes. The Borrower will use the proceeds of the Revolving Loans after the Closing Date for working capital and general corporate purposes not prohibited by this Agreement. The use of proceeds of the Loans hereunder will not be used, directly or indirectly, in violation of Anti-Corruption Laws or applicable Sanctions.

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