Use of Net Proceeds Sample Clauses
The 'Use of Net Proceeds' clause defines how the funds remaining after deducting expenses from a transaction, such as a sale or financing, must be used by the receiving party. Typically, this clause specifies permitted uses for the net proceeds, such as repaying debt, funding specific projects, or distributing to stakeholders, and may require the recipient to provide an accounting of how the funds are spent. Its core practical function is to ensure transparency and accountability in the handling of significant funds, preventing misuse and aligning the use of proceeds with the parties' agreed objectives.
Use of Net Proceeds. In accordance with the Community of ▇▇▇▇▇▇ net proceeds policy, the mission center officers will be responsible for developing a proposal for the use of net proceeds in consultation with the field apostle and the mission center council. The resolution to sell Camp Manitou indicates that the net proceeds “shall be utilized for pursuing mission through the development of campground properties and mission center camping and gathering activities.” The mission center officers will develop and guide a dialogue and discernment process in the coming months to explore ideas and options for the use of net proceeds. Conversation will occur at summer reunions and August budget presentations. Additional feedback through surveys may also be gathered. To provide for an open and Spirit-led discernment process, no deadline or expectation is in place at this time for bringing a proposal to a mission center conference.
Use of Net Proceeds. The Company will use the net proceeds received by it from the sale of the Shares in the manner specified in each of the Disclosure Package and the Prospectus under “Use of Proceeds.”
Use of Net Proceeds. The net proceeds of the Development Notes shall be used solely for the purposes set forth in Section 2.08.
Use of Net Proceeds. The Borrower Parties will use the net proceeds of the Development Notes for the purposes set forth in Section 2.08 hereof.
Use of Net Proceeds. The net proceeds Purchaser receives, shall only be used to finance or reimburse Purchaser for direct costs associated with any activities performed on the Historic Structures pursuant to an approved Work Plan under Paragraph 18. Net proceeds may not be used (i) for indirect costs associated with activities on the Historic Structures or (ii) for costs associated with fulfilling any other obligation under this Settlement, including any activities under Paragraph
Use of Net Proceeds. 2.1 The Company proposes to utilise the Net Proceeds from the Fresh Issue for the following purposes as more particularly set out in the Red ▇▇▇▇▇▇▇ Prospectus and the Prospectus for inter alia:
a. Repayment or pre-payment, in full or in part, of all or certain borrowings availed by our Company;
b. Funding working capital requirements of our Company;
c. Purchase of equipments and funding of other related costs for data centers proposed to be set-up in India and overseas locations;
d. Funding of expenditure relating to product development;
e. Investment in eMudhra INC for augmenting its business development, sales, marketing and other related costs for future growth; and
Use of Net Proceeds. The Town may elect to proceed under either subsection (a), (b) or (c) with respect to Net Proceeds deposited with the Trustee; provided, however, that subsections (a) and (b) will be available to the Town only if no Event of Default is continuing. The Town will notify the Corporation and the Trustee of its election within 60 days after the date of the deposit.
(a) If the amount of Net Proceeds is equal to at least 75% of the outstanding principal of the Certificates, then the Town may provide additional funds from any legal source and use such Net Proceeds and additional Town funds to prepay the Certificates in full pursuant to Section 3.01(c) of the Trust Agreement;
(b) If as a result of event (or series of events) giving rise to the Net Proceeds
(i) the Town has lost beneficial use of at least 51% of the Facilities of which it had beneficial use prior to such event or (ii) the damaged portion of the Facilities cannot be restored to its prior condition within six months of the event (or series of events) with respect to which the Net Proceeds have been collected, then the Town may use the Net Proceeds (and only the Net Proceeds) to prepay the Certificates in part pursuant to Section 3.01(c) of the Trust Agreement; or
(c) Otherwise the Town will use the Net Proceeds and other available funds for the completion or for repair and restoration of the Mortgaged Property. The Town will not be entitled to any reimbursement of any funds paid pursuant to this subsection, nor will the Town be entitled to any postponement or diminution of its obligation to make Contract Payments as a result of any such contribution. Determinations as to the extent of loss described in (b) above will be made by an Appropriate Consultant and will be in form and substance reasonably acceptable to the Trustee. If the Town decides to proceed pursuant to subsection (c) above, the Trustee will disburse Net Proceeds for the payment of such costs upon receipt of requisitions in substantially the form of Exhibit C to the Trust Agreement, but the Trustee need not honor any such requisition if an Event of Default is continuing. Any repair or replacement paid for in whole or in part out of such Net Proceeds will be the Town's property and will be part of the Facilities.
Use of Net Proceeds. The Company shall apply the net proceeds from the sale of the Shares for general working capital purposes.
Use of Net Proceeds. 2.1 The Company proposes to raise finance by way of the Issue for the following purposes as set out in the Prospectus: • Repayment and/ or prepayment, in full or part, of certain borrowings availed by the Company • Funding working capital requirements of the Company; and • General corporate purposes (Collectively, referred to herein as the “Objects of the Issue”).
2.2 The Company shall ensure that Net Proceeds are utilized for the purposes as are set out in the Prospectus and Clause 2.1 above.
Use of Net Proceeds. The Borrower will use the net proceeds of the Note for the purposes set forth in Section 2.08 hereof.