DISPOSITION OF PROCEEDS OF THE NOTES Sample Clauses

The "Disposition of Proceeds of the Notes" clause defines how the funds raised from issuing notes are to be handled and distributed. Typically, this clause outlines the specific accounts into which proceeds must be deposited, the order of priority for payments (such as fees, interest, principal, or other obligations), and any restrictions on the use of these funds. For example, it may require that proceeds first pay administrative expenses before being used for investor distributions. The core function of this clause is to ensure transparency and control over the allocation of funds, thereby protecting the interests of noteholders and other stakeholders by preventing misuse or misallocation of the proceeds.
DISPOSITION OF PROCEEDS OF THE NOTES. All proceeds of the issuance and sale of the Series of Notes hereunder shall be deposited with the Indenture Trustee on the Date of Issuance, and the Indenture Trustee shall deposit such proceeds to the following Funds and Accounts: (a) $________ of the proceeds of the Notes, an amount equal to the Specified Reserve Fund Balance, shall be deposited by the Indenture Trustee upon receipt in the Reserve Fund; (b) $_________ of the proceeds of the Notes shall be deposited by the Indenture Trustee upon receipt to the Collection Account in the Collection Fund; (c) $________ of the proceeds of the Notes shall be deposited by the Indenture Trustee upon receipt to the Expense Account in the Collection Fund; and (d) $_________ of the proceeds of the Notes shall be deposited by the Indenture Trustee upon receipt to the Capitalized Interest Account in the Acquisition Fund; and (e) The balance of the proceeds of the Notes shall be deposited by the Indenture Trustee upon receipt in the Acquisition Fund.
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DISPOSITION OF PROCEEDS OF THE NOTES. All proceeds of the issuance and sale of the Notes hereunder were deposited with the Indenture Trustee on the Date of Issuance, and the Indenture Trustee applied or shall apply such proceeds in accordance with the terms and provisions of Article IV
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DISPOSITION OF PROCEEDS OF THE NOTES. All proceeds of the issuance and sale of the Series of Notes hereunder were deposited with the Indenture Trustee on the Date of Issuance, and the Indenture Trustee deposited such proceeds to the following Funds and Accounts: (a) $10,917,000 of the proceeds of the Notes, an amount equal to the Specified Reserve Fund Balance, were deposited by the Indenture Trustee upon receipt in the Reserve Fund; (b) $5,000,000 of the proceeds of the Notes were deposited by the Indenture Trustee upon receipt to the Collection Account in the Collection Fund; (c) $3,275,100 of the proceeds of the Notes were deposited by the Indenture Trustee upon receipt to the Expense Account in the Collection Fund; and (d) The balance of the proceeds of the Notes was deposited by the Indenture Trustee upon receipt in the Acquisition Fund.
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DISPOSITION OF PROCEEDS OF THE NOTES. Collection Account; Acquisition Fund -------------------------------------------------------------------------- SECTION 4.01 Disposition of Proceeds of the Notes.............................................19 SECTION 4.02 Disposition of Collection Account................................................19
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DISPOSITION OF PROCEEDS OF THE NOTES. All proceeds of the issuance and sale of the Series of Notes hereunder shall be deposited with the Indenture Trustee on the Date of Issuance, and the Indenture Trustee shall deposit such proceeds to the following Funds and Accounts: (a) $3,937,500 of the proceeds of the Notes, an amount equal to the Specified Reserve Fund Balance on the Date of Issuance, shall be deposited by the Indenture Trustee upon receipt in the Reserve Fund; (b) $779,820 of the proceeds of the Notes shall be deposited by the Indenture Trustee upon receipt to the Expense Account in the Collection Fund; (c) $2,000,000 of the proceeds of the Notes shall be deposited by the Indenture Trustee upon receipt to the Capitalized Interest Account in the Acquisition Fund; (d) The balance of the proceeds of the Notes ($516,576,430) shall be deposited by the Indenture Trustee upon receipt in the Acquisition Fund.
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Related to DISPOSITION OF PROCEEDS OF THE NOTES

  • Disposition of Proceeds The Security Documents contain an assignment by the Borrower and/or the Guarantors unto and in favor of the Collateral Agent for the benefit of the Lenders of all of the Borrower’s or each Guarantor’s interest in and to their as-extracted collateral in the form of production and all proceeds attributable thereto which may be produced from or allocated to the Mortgaged Property. The Security Documents further provide in general for the application of such proceeds to the satisfaction of the Obligations described therein and secured thereby. Notwithstanding the assignment contained in such Security Documents, until the occurrence of an Event of Default, (a) the Administrative Agent and the Lenders agree that they will neither notify the purchaser or purchasers of such production nor take any other action to cause such proceeds to be remitted to the Administrative Agent or the Lenders, but the Lenders will instead permit such proceeds to be paid to the Borrower and its Subsidiaries and (b) the Lenders hereby authorize the Administrative Agent to take such actions as may be necessary to cause such proceeds to be paid to the Borrower and/or such Subsidiaries.

  • Repayment of Proceeds If Executive engages in Competitive Activity, then Executive shall be required to pay to Investors, within ten business days following the Activity Date, an amount equal to the excess, if any, of (A) the aggregate proceeds Executive received upon the sale or other disposition of Executive's Units, over (B) the aggregate Cost of such Units.

  • Use of Proceeds of the Grant Section 3.01. The Recipient shall cause the proceeds of the Grant to be applied to the financing of expenditures on the Project as set out in Schedule 1 of the Initial Grant Agreement and in accordance with the provisions of this Grant Agreement. Section 3.02. The Works, consulting services and other items of expenditure to be financed out of the proceeds of the Grant and the allocation of amounts of the Grant among different categories of such Works and consulting services shall be in accordance with the provisions of Schedule 1 to this Grant Agreement, as such Schedule may be amended from time to time by agreement between the Recipient and ADB. Section 3.03. Except as ADB may otherwise agree, all Works and consulting services to be financed out of the proceeds of the Grant shall be procured in accordance with the provisions of Schedule 3 to the Initial Grant Agreement. Section 3.04. Withdrawals from the Grant Account in respect of Works and consulting services shall be made only on account of expenditures relating to: (a) Works supplied from such member countries of ADB as shall have been specified by ADB from time to time as eligible sources for procurement, and (b) Works and consulting services which meet such other eligibility requirements as shall have been specified by ADB from time to time. Section 3.05. The Grant Closing Date for the purposes of Section 8.02 of the Grant Regulations shall be 31 December 2014 or such other date as may from time to time be agreed between the Recipient and ADB.

  • Application of Proceeds of Sale The proceeds of any sale of Collateral pursuant to Section 6, as well as any Collateral consisting of cash, shall be applied by the Collateral Agent as follows: FIRST, to the payment of all costs and expenses incurred by the Collateral Agent in connection with such sale or otherwise in connection with this Agreement, any other Loan Document or any of the Obligations, including all court costs and the reasonable fees and expenses of its agents and legal counsel, the repayment of all advances made by the Collateral Agent hereunder or under any other Loan Document on behalf of any Pledgor and any other costs or expenses incurred in connection with the exercise of any right or remedy hereunder or under any other Loan Document; SECOND, to the payment in full of the Obligations (the amounts so applied to be distributed among the Secured Parties pro rata in accordance with the amounts of the Obligations owed to them on the date of any such distribution); and THIRD, to the Pledgors, their successors or assigns, or as a court of competent jurisdiction may otherwise direct. The Collateral Agent shall have absolute discretion as to the time of application of any such proceeds, moneys or balances in accordance with this Agreement. Upon any sale of the Collateral by the Collateral Agent (including pursuant to a power of sale granted by statute or under a judicial proceeding), the receipt of the purchase money by the Collateral Agent or of the officer making the sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the Collateral Agent or such officer or be answerable in any way for the misapplication thereof.

  • Application of Proceeds of Collateral Notwithstanding anything to the contrary in this Agreement, in the case of any Event of Default under Section 9.1(i), immediately following the occurrence thereof, and in the case of any other Event of Default, upon the termination of the Revolving Credit Aggregate Commitment, the acceleration of any Indebtedness arising under this Agreement and/or the exercise of any other remedy in each case by the requisite Lenders under Section 9.2 hereof, the Agent shall apply the proceeds of any Collateral, together with any offsets, voluntary payments by any Credit Party or others and any other sums received or collected in respect of the Indebtedness first, to pay all incurred and unpaid fees and expenses of the Agent under the Loan Documents and any protective advances made by Agent with respect to the Collateral under or pursuant to the terms of any Loan Document, next, to pay any fees and expenses owed to the Issuing Lender hereunder, next, to the Indebtedness under the Revolving Credit (including the Swing Line and any Reimbursement Obligations), any obligations owing by any Credit party under any Hedging Agreements or in connection with any Lender Products on a pro rata basis, next, to any other Indebtedness on a pro rata basis, and then, if there is any excess, to the Credit Parties or as otherwise required under applicable law, as the case may be.