Financing Proceeds Sample Clauses
The Financing Proceeds clause defines how funds obtained through financing activities, such as loans or investments, are to be handled within the context of the agreement. Typically, this clause specifies the permitted uses of these proceeds, such as project development, working capital, or repayment of existing obligations, and may require the recipient to provide documentation or evidence of proper use. Its core practical function is to ensure that financing obtained is used in accordance with the parties' intentions, thereby reducing the risk of misuse and providing transparency for all stakeholders involved.
Financing Proceeds. The Company covenants that the proceeds from the issuance of the Note are to be used for the purposes set forth on Exhibit E. Any diversion or use of the proceeds other than as set forth on Exhibit E without the prior written consent of the Holder shall constitute a covenant violation ("Covenant Violation"). Upon any such Covenant Violation, the Company shall immediately repay to the Holder the entire amount of the principal amount of the Note, including any costs and expenses incurred by the Holder in enforcing its rights in connection with such Covenant Violation. Nothing contained in this Section shall be construed to restrict or limit in any way the Holder's right to seek any remedy it deems advisable against the Company for any damages, costs, expenses or losses it may sustain or to bring an action against the Company in connection with such Covenant Violation. The Company will notify the Holder orally and in writing immediately upon the occurrence of such Covenant Violation.
Financing Proceeds. Financing Proceeds shall be applied and distributed in the following order of priority:
(i) First, to the Class B Limited Partners, in proportion to their respective Class B Percentage Interests, until each Class B Limited Partner has been distributed under this Section 5.1(b)(i) and Sections 5.1(a)(i) and 5.1(c)(i), an amount equal to its aggregate Preferred Return;
(ii) Second, to the Class B Limited Partners, in proportion to their respective Class B Percentage Interests, until each Class B Limited Partner’s Preferred Capital Balance is reduced to zero;
(iii) Third, to the Class A Partners, in proportion to their respective Common Capital balances, until each Class A Partner’s Common Capital Balance is reduced to zero; and
(iv) The balance, to the Class A Partners, in proportion to their respective Class A Percentage Interests.
Financing Proceeds. Company shall not repay the Principal and Interest due under the Note through proceeds obtained by any subsequent financing provided by the Holder to the Company.
Financing Proceeds. Out of all proceeds received by any PDGE Debtor Party as a result of the completion of any equity financing (a "Financing"), except a "Lender Equity Financing" as defined below, net of all selling expenses incident thereto, consisting of all brokerage and underwriting commissions, discounts, placement agent fees, and other related compensation, attorneys' and accountants' fees, printing costs, filing fees and other necessary expenses ("Net Financing Proceeds") a minimum of thirty percent (30%), or one hundred percent (100%) should any Event of Default have occurred and be continuing beyond any applicable cure period, shall be used solely for the purpose of repaying the amounts owing under the Loans, whether or not then due, as Lender may determine, and Lender is hereby granted a security interest in all such Net Financing Proceeds to the extent Lender is entitled to same hereunder. However, to the extent Net Financing Proceeds are derived from the issuance of shares of PDGE common stock at any time upon the exercise by Lender of any Warrants, in whole or in part, one hundred percent (100%) of such Net Financing Proceeds shall be applied to repayment of the Loans and Lender may credit the proceeds otherwise due Lender on such issuance directly to the amounts owing to Lender under the Loans. Lender shall have the right to require as a condition of any investment, securities purchase, underwriting, placement agent, or similar agreement related to any Financing that the Net Financing Proceeds be paid directly to Lender or as Lender may otherwise direct. The PDGE Debtor Parties agree to execute and deliver, and hereby irrevocably authorize Lender, on their behalf and as their attorney-in-fact, to execute and deliver, any and all agreements and instruments, and to take any and all actions, as Lender may request or deem necessary in order to provide for the direct payment of all Net Financing Proceeds to Lender, or to perfect Lender's security interest in such Net Financing Proceeds as granted herein. The PDGE Debtor Parties shall provide Lender with at least fifteen (15) Business Days notice prior to the closing of any Financing.
Financing Proceeds. On the Initial Borrowing Date and immediately prior to the incurrence of Loans hereunder, the Borrower shall have used the net cash proceeds from the Equity Financing and the Subordinated Financing to pay amounts owing in respect of the Transaction.
Financing Proceeds. The Buyer shall have received the proceeds of the debt financing for the transactions contemplated hereby (a) as contemplated by the Senior Commitment and as contemplated by Exhibit A to the Note Commitment or (b) on other terms acceptable to the Buyer in its sole discretion. The Buyer shall have entered into the Senior Secured Credit Facility contemplated by the Senior Commitments on terms acceptable to Buyer in its sole discretion.
Financing Proceeds. The proceeds of the Initial Project Financing; and [NOTE TO DRAFT: ADDITIONAL FINANCING PROCEEDS MAY BE ADDED AFTER THE FINANCING PLAN IS AGREED UPON.]
Financing Proceeds. Buyer shall have received (or receives contemporaneously with the Closing) the cash proceeds of the Financing.
Financing Proceeds. For the purposes of this Clause 8.3: