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Disbursement of Advance Proceeds
Disbursement of Advance Proceeds contract clause examples
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Use of Proceeds. The Company shall use the net proceeds from the sale of Subordinated Notes for general corporate purposes and the repayment of Indebtedness.

Use the proceeds of the Credit Extensions # to finance working capital and capital expenditures and # for other general corporate purposes, provided that in no event shall the proceeds of the Credit Extensions be used in contravention of any Requirement of Law or of any Credit Document.

Use of Proceeds. shall use the proceeds of the Loan to # pay or reimburse itself for Building Loan Costs actually incurred in connection with the construction of the Improvements if and to the extent that such Building Loan Costs are reflected in the Project Budget, subject to reallocation pursuant to [Sections 2.11 and 2.14]4] (or other reallocations approved by in the exercise of its commercially reasonable discretion).

Use of Proceeds. Co-Borrower shall use the proceeds of the Credit Extensions solely as working capital and to fund its general business requirements and not for personal, family, household or agricultural purposes.

Remittance of Proceeds. Except as otherwise provided in Section 6.3(c), deliver, in kind, all proceeds arising from the disposition of any Collateral to Bank in the original form in which received by Co-Borrowers not later than the following Business Day after receipt by Co-Borrowers, to be applied to the Obligations # prior to an Event of Default, pursuant to the terms of Section 6.3(c) hereof, and # after the occurrence and during the continuance of an Event of Default, pursuant to the terms of Section 9.4 hereof; provided that, if no Event of Default has occurred and is continuing, Co-Borrowers shall not be obligated to remit to Bank the proceeds of the sale of worn out or obsolete Equipment disposed of by Co-Borrowers in good faith in an arm’s length transaction for an aggregate purchase price of One Hundred Thousand Dollars ($100,000) or less (for all such transactions in any fiscal year). Each Co-Borrower agrees that it will not commingle proceeds of Collateral with any of Co-Borrower’s other funds or property, but will hold such proceeds separate and apart from such other funds and property and in an express trust for Bank. Nothing in this Section 6.4 limits the restrictions on disposition of Collateral set forth elsewhere in this Agreement.

Use of Proceeds. The proceeds of the Loans shall be used for general domestic corporate purposes. Borrower agrees it shall not Transfer any proceeds of the Loans or make any Investment with proceeds of the Loans to a Subsidiary that is not organized under the laws of the United States.

#[[Organization A:Organization]] may use the proceeds of Revolving Advances to # pay fees and expenses payable under this Agreement or any of the Other Documents to the [[Organization B:Organization]] and Lenders, # provide for [[Organization A:Organization]]' working capital needs and reimburse drawings under Letters of Credit, # to repay the obligations under the DIP Credit Agreement and certain other existing indebtedness and # provide for [[Organization A:Organization]]' capital expenditure needs, in accordance with the terms and conditions contained herein.

Use of Proceeds. Borrower will exclusively use all proceeds of # the Repurchase Term Loan to fund the Transaction, including to pay the fees and expenses incurred in connection with the Transaction; provided, that a de minimus use of Repurchase Term Loan proceeds for working capital needs and for other general corporate purposes of Borrower and its Subsidiaries will not be a breach of this Section 8.11, # the Delayed Draw-Down Term Loan to fund Permitted Share Repurchases or Permitted Acquisitions (in the case of Permitted Acquisitions, up to the aggregate amount permitted under this Agreement), and # Revolving Loans for the working capital and general corporate purposes of Borrower and its Subsidiaries, including to pay the fees and expenses incurred in connection with the Transaction.

Use of Proceeds. Borrower will not request any Borrowing, and Borrower shall not directly, or, to its knowledge, indirectly use the proceeds of any Borrowing or # in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, # for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, # in any manner that would result in the violation of any Sanctions applicable to any party hereto or # in violation of Section 7.08.

Application of Proceeds. Notwithstanding anything to the contrary contained in this Agreement, upon the occurrence and during the continuance of an Event of Default, Borrower irrevocably waives the right to direct the application of any and all payments received by Lender from or on behalf of Borrower or any guarantor during the continuance of such Event of Default against all of any part of the Obligations, and Lender shall have the continuing and exclusive right to apply and to reapply any and all payments received against the Obligations in such manner as the Lender may deem advisable notwithstanding any previous application by the Lender.

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