Uses of Proceeds Sample Clauses

The "Uses of Proceeds" clause defines how the funds provided under an agreement must be spent by the recipient. Typically, it outlines specific purposes or categories for which the money can be used, such as operational expenses, project development, or capital improvements, and may prohibit use for unrelated activities like personal expenses or debt repayment. This clause ensures that the funds are applied in accordance with the intentions of the parties, providing accountability and reducing the risk of misuse.
Uses of Proceeds. The Company shall utilize the cash proceeds from the sale of Additional Common Stock to reduce the debt levels of the Company and for general corporate purposes.
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Uses of Proceeds. The proceeds of the sale and issuance of the Notes shall be used for general corporate purposes.
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Uses of Proceeds. The Reorganized Company shall utilize the proceeds from the sale of Additional Common Stock and the New Preferred Stock, if any, (a) first, to pay the expenses of the Rights Offering and to pay the balance of the Put Option Premium that becomes due and payable on the Effective Date and (b) second, the net proceeds remaining will be contributed by the Company to Foamex, L.P., its operating subsidiary, to fund required payments under the First Amended Plan and to fund Foamex L.P.’s working capital requirements on the Effective Date.
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Uses of Proceeds. (a) To use the proceeds of Facility No. 1 only for working capital. (b) The proceeds of the credit extended under this Loan Agreement may not be used directly or indirectly to purchase or carry any “margin stock” as that term is defined in Regulation U of the Board of Governors of the Federal Reserve System, or extend credit to or invest in other parties for the purpose of purchasing or carrying any such “margin stock,” or to reduce or retire any indebtedness incurred for such purpose.
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Uses of Proceeds. It is under- stood and agreed that funds provided by (a) Revolving Credit Loans made and Letters of Credit issued under the General Purposes Sublimit may be used for (i) general corporate purposes of the Borrower and (ii) payments, in an amount not exceeding $2,500,000, to the Guarantor in settle- ment of liabilities in respect of advances by the Guarantor to the Borrower between September 1, 1995 and September 29, 1995, (b) revolving Credit Loans made under the Acquisition Sublimit may be used only for the purpose of making Permitted Acquisitions, (c) Tranche A Term Loans and Tranche B Term Loans may be used for the purpose of repay- ing the Subordinated Debt in full, (d) Revolving Credit Loans, Tranche A Term Loans and Tranche B Term Loans may be used for the purpose of making all or part of a Restricted Payment or Payments to the Guarantor or its Affiliates and (e) Tranche C Term Loans may be used only to prepay $20,000,000 of the Tranche A Term Loan." Section 4. Amendment of Section 8.02(e) of the Agreement. Section 8.02(e) is hereby amended to (a) delete the word "and" following the semicolon in the last line of subsection (i) of Section 8.02(e), (b) delete the period at the end of the last line of subsection (ii) of Section 8.02(e) and substitute therefor the following: "; and", and (c) add to Section 8.02(e) a new subsection (iii) to read in its entirety as follows: "
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Uses of Proceeds. The uses of the proceeds from the issuance of the Second Closing Purchased Securities shall be as set forth in Section 3.12.
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Uses of Proceeds. The Company will use the proceeds from the sale of the Units for substantially the same purposes and in substantially the same amounts as indicated in Schedule 4.4.
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Uses of Proceeds. The proceeds of the Bridge Loans will be used by the Company solely to repay debt of the Company under the Amended Revolving CRA Facility (as defined in the Commitment Letter) and to pay transaction costs and expenses in connection therewith. Ranking: The Bridge Facility will be senior secured indebtedness of the Company.
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Uses of Proceeds. In consideration of the Amendment, the Borrower agrees that the proceeds of any preferred equity raised under Section 7.1(i) of the Loan Agreement (the "PIK EQUITY PROCEEDS") shall be used to repay the Obligations then outstanding; PROVIDED, HOWEVER, any such repayment from the PIK Equity Proceeds shall not reduce the Commitment. In addition, the Borrower shall apply the proceeds of any subordinated Indebtedness raised under Section 7.1(j) of the Loan Agreement (the "SUB DEBT PROCEEDS") by either (A) depositing one-hundred percent (100%) of the Sub Debt Proceeds in a special purpose account of the Borrower pending the closing of (the "ATLANTIC CLOSING") the transactions described in that certain Asset Purchase Agreement among Atlantic Cellular Company, L.P., Atlantic Cellular/New Hampshire RSA Number One Limited Partnership, on the one hand, and RCC Atlantic, Inc. and Rural Cellular Corporation, on the other hand, dated as of February 13, 1998 (the "ATLANTIC PURCHASE AGREEMENT"), or (B) applying a portion of the Sub Debt Proceeds to repay the Obligations outstanding after application of the PIK Equity Proceeds and depositing the remaining balance of the Sub Debt Proceeds in a special purpose account of the Borrower to be used solely in connection with the Atlantic Closing. In addition, if, for any reason, the Atlantic Closing shall not occur on or prior to September 30, 1998, (i) all or a portion of the Sub Debt proceeds deposited in a special purpose account of the Borrower in accordance with this Amendment shall be withdrawn from such account and contemporaneously used to permanently repay Sub Debt; and
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Related to Uses of Proceeds

  • Applications of Proceeds The proceeds of any such sale, lease or other disposition of the Collateral hereunder shall be applied first, to the expenses of retaking, holding, storing, processing and preparing for sale, selling, and the like (including, without limitation, any taxes, fees and other costs incurred in connection therewith) of the Collateral, to the reasonable attorneys' fees and expenses incurred by the Secured Party in enforcing its rights hereunder and in connection with collecting, storing and disposing of the Collateral, and then to satisfaction of the Obligations, and to the payment of any other amounts required by applicable law, after which the Secured Party shall pay to the Company any surplus proceeds. If, upon the sale, license or other disposition of the Collateral, the proceeds thereof are insufficient to pay all amounts to which the Secured Party is legally entitled, the Company will be liable for the deficiency, together with interest thereon, at the rate of 15% per annum (the "Default Rate"), and the reasonable fees of any attorneys employed by the Secured Party to collect such deficiency. To the extent permitted by applicable law, the Company waives all claims, damages and demands against the Secured Party arising out of the repossession, removal, retention or sale of the Collateral, unless due to the gross negligence or willful misconduct of the Secured Party.

  • Use of Proceeds The Company will use the net proceeds received by it from the sale of the Securities in the manner specified in the Prospectus under “Use of Proceeds.”

  • Payment of Proceeds Borrower shall forthwith upon receipt of all proceeds of Collateral, pay such proceeds (insurance or otherwise) over to Lender for application against the Obligations in such order and manner as Lender may elect.

  • Investment of Proceeds Prior to the application of the proceeds of the Transaction Security in accordance with Clause 31.1 (Order of Application) the Security Agent may, at its discretion, hold all or part of those proceeds in an interest bearing suspense or impersonal account(s) in the name of the Security Agent or Agent with any financial institution (including itself) and for so long as the Security Agent thinks fit (the interest being credited to the relevant account) pending the application from time to time of those monies at the Security Agent’s discretion in accordance with the provisions of this Clause 31.2.

  • 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.