This excerpt taken from the CVS 8-K filed Mar 23, 2007.
Use of Proceeds
The Borrower agrees that the proceeds of the Loans and Letters of Credit shall be used solely for its general corporate purposes not inconsistent with the provisions hereof, including as a backup for commercial paper issued by the Borrower and to finance in part the consideration paid to the Caremark shareholders in connection with the Caremark Merger, including any dividends paid to the Caremark shareholders, provided that prior to the consummation of the Caremark Merger, the Borrower shall not be permitted to borrow hereunder except in anticipation of the proposed direct or indirect financing in part of the consideration paid or to be paid to the Caremark shareholders in connection with the Caremark Merger, including any dividends paid or to be paid to the Caremark shareholders (which may include a borrowing for the purpose of refunding Caremark Merger Anticipatory Commercial Paper). Notwithstanding anything to the contrary contained in any Loan Document, the Borrower further agrees that no part of the proceeds of any Loan or Letter of Credit will be used, directly or
indirectly, and whether immediately, incidentally or ultimately (i) for a purpose which violates any law, rule or regulation of any Governmental Authority, including the provisions of Regulations U or X of the Board of Governors of the Federal Reserve System, as amended or any provision of this Agreement, including, without limitation, the provisions of Section 4.9 and (ii) to make a loan to any director or executive officer of the Borrower or any Subsidiary.