FairPoint Communications 2004 Annual Report Download - page 247

(e) The proceeds of Swingline Loans may be used for the general corporate and working capital purposes of the Borrower and its
Subsidiaries; provided that no proceeds from Swingline Loans may be used to finance the Refinancing or to pay fees and expenses incurred in connection with
the Transaction.
(f) Neither the making of any Loan hereunder, nor the use of the proceeds thereof, nor the occurrence of any other Credit Event, will
violate the provisions of Regulation T, U or X of the Board of Governors of the Federal Reserve System and no part of any Credit Event (or the proceeds
thereof) will be used to purchase or carry any Margin Stock or to extend credit for the purpose of purchasing or carrying any Margin Stock, provided that
proceeds of RF Loans may be utilized to purchase Margin Stock (A) if such purchase (x) is pursuant to a Permitted Acquisition of the Person issuing such
Margin Stock and (y) is effected pursuant to a friendly transaction (as determined by the Agents) not in violation of such Regulations T, U or X and (B) to the
extent otherwise permitted by Sections 7.09(a)(ii), (iii) or (xvi).
(g) The fair market value of all Margin Stock owned by the Borrower and its Subsidiaries (other than the capital stock of the
Borrower held in treasury) does not exceed $500,000. At the time of each Credit Event, not more than 25% of the value of the assets of the Borrower and its
Subsidiaries taken as a whole (including all capital stock of the Borrower held in treasury) will constitute Margin Stock.
5.06 Governmental Approvals. Except for such consents, approvals and filings as have been obtained or made on or prior to the Initial
Borrowing Date and remain in full force and effect, no order, consent, approval, license, authorization, or validation of, or filing, recording or registration
with, or exemption by, any foreign or domestic governmental or public body or authority (including, without limitation, the FCC and applicable PUCs), or
any subdivision thereof, is required to authorize or is required in connection with (i) the execution, delivery and performance of any Document or (ii) the
legality, validity, binding effect or enforceability of any Document.
5.07 Investment Company Act. Neither the Borrower nor any of its Subsidiaries is an “investment company” or a company “controlled”
by an “investment company,” within the meaning of the Investment Company Act of 1940, as amended.
5.08 Public Utility Holding Company Act. Neither the Borrower nor any of its Subsidiaries is a “holding company,” or a “subsidiary
company” of a “holding company,” or an “affiliate” of a “holding company” or of a “subsidiary company” of a “holding company” within the meaning of the
Public Utility Holding Company Act of 1935, as amended.
5.09 True and Complete Disclosure. All factual information (taken as a whole) heretofore or contemporaneously furnished by or on behalf
of the Borrower in writing to the Lenders for purposes of or in connection with this Agreement or any transaction contemplated herein is, and all other such
factual information (taken as a whole) hereafter furnished by or on behalf of any Credit Party in writing to the Lenders hereunder will be, true and accurate in
all material respects on the date as of which such information is dated or certified and not incomplete by omitting to state any material fact necessary to make
such information (taken as a whole) not misleading at such time in light of the circumstances under which such information
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