Closing Proceeds Sample Clauses

Closing Proceeds. The Company shall have raised at least $40,000,000 from the Investors pursuant to this Agreement; provided, however, that, notwithstanding Section 10.2, this condition may be waived solely by MPM Capital.
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Closing Proceeds. All proceeds of the Sony Sale paid at the closing thereof shall be paid directly to the Administrative Agent and applied as follows : (1) $18,000,000 shall be paid by the Borrower to the Administrative Agent for the benefit of the Lenders as a repayment of the principal of the Term Loan in accordance with Section 2.2(b) hereof, (2) to the extent the purchase price of the Sony Sale exceeds $25,000,000, the Borrower shall pay to the Administrative Agent for the benefit of the Lenders any proceeds in excess of $25,000,000 as a repayment of the Term Loan on a pro rata basis across the remaining principal payments set forth in Section 2.2(b) (with any excess to be applied in the order specified in Section 2.7(b)(vi)(B) hereof), (3) payment in full of the outstanding Revolving Loans (with a corresponding reduction in and cancellation of the Revolving Commitment), and (4) the remainder, together with all cash maintained by the Borrower at such time (which shall include any cash received from one or more of the Euro Borrowers which is currently anticipated to be 5 million Euros) shall be paid by the Borrower to the Administrative Agent, which shall be held and disbursed in accordance with Section 2.21(b) hereof.
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Closing Proceeds. Payment of the Closing Proceeds in accordance with Section 3.1(c) hereof.
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Closing Proceeds. Each of Sprout, Venrock and Oxford shall have delivered its applicable Aggregate Purchase Price to the Company; provided, however, this condition shall only be deemed to have failed if the reason any such Investor fails to deliver its applicable Aggregate Purchase Price is due solely to a Force Majeure Event.
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Closing Proceeds. The Closing Proceeds shall equal or exceed $40,000,000.
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Closing Proceeds. Each of Oxford, Sprout and Venrock shall have delivered its applicable Purchase Price to the Company.
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Related to Closing Proceeds

  • Pre-Closing Collections Within two (2) Business Days after the Closing Date the Seller shall transfer to the account or accounts designated by Ally Auto (or by the Issuing Entity under the Further Transfer Agreements) all collections on the Receivables held by the Seller on the Closing Date, and conveyed to Ally Auto pursuant to Section 2.01.

  • Funds at Closing Buyer and Seller agree that before the recording can take place, funds provided shall be in one (1) of the following forms: cash, interbank electronic transfer, money order, certified check or cashier’s check drawn on a financial institution located in the State, or any above combination that permits the Seller to convert the deposit to cash no later than the next business day.

  • Proceeds The Company shall use the proceeds from the issuance and sale of the Securities as set forth in “Use of Proceeds to issuer” in the Offering Circular.

  • Sale Proceeds The proceeds of sale of any new Series of Notes shall be wired to the Collection and Funding Account, and the Indenture Trustee shall disburse such sale proceeds at the direction of the Administrator on behalf of the Issuer, except to the extent such funds are needed to satisfy the Collateral Test. The Administrator on behalf of the Issuer may direct the Issuer to apply such proceeds to reduce pro rata based on Invested Amounts, the VFN Principal Balance of any Classes of Variable Funding Notes, or to redeem any Series of Notes in accordance with Section 13.1. In the absence of any such direction, the proceeds of such sale shall be distributed to the Depositor or at the Depositor’s direction on the Issuance Date for the newly issued Notes. The Administrator shall deliver to the Indenture Trustee a report demonstrating that the release of sale proceeds pursuant to the Issuer’s direction will not cause a failure of the Collateral Test, as a precondition to the Indenture Trustee releasing such proceeds.

  • Proceeds of Dispositions; Expenses The Debtor shall pay to the Secured Party on demand any and all expenses, including reasonable attorneys' fees and disbursements, incurred or paid by the Secured Party in protecting, preserving or enforcing the Secured Party's rights and remedies under or in respect of any of the Obligations or any of the Collateral. After deducting all of said expenses, the residue of any proceeds of collection or sale or other disposition of the Collateral shall, to the extent actually received in cash, be applied to the payment of the Obligations in such order or preference as the Secured Party may determine, proper allowance and provision being made for any Obligations not then due. Upon the final payment and satisfaction in full of all of the Obligations and after making any payments required by Sections 9-608(a)(1)(C) or 9-615(a)(3) of the Uniform Commercial Code of the State, any excess shall be returned to the Debtor. In the absence of final payment and satisfaction in full of all of the Obligations, the Debtor shall remain liable for any deficiency.