4Use of Proceeds. The Company shall use the net proceeds from the sale of Subordinated Notes for general corporate purposes, including, without limitation, the repayment of existing indebtedness.
4Use of Proceeds. All proceeds of the Loan shall be used by Borrowers solely (i) to repurchase, up to a maximum amount of $3,000,000 in the aggregate, of Borrower’s stock (the “Permitted Stock Repurchase”) as permitted under Section 6.10, (ii) to fund the BOIA Earnout, (iii) to pay the fees, costs, and expenses incurred in connection with this Agreement, the other Loan Documents, and the transactions contemplated hereby and thereby, (iv) for Borrowers’ working capital and general corporate purposes not prohibited hereunder and (v) for such other purposes as specifically permitted pursuant to the terms of this Agreement. All proceeds of the Loan shall be used solely for lawful business purposes. Without limiting the scope of the immediately preceding sentence, Borrowers understand and agree NOT to use the proceeds of the Loan for personal, family, or household purposes. Borrowers further understand that there are certain important duties imposed upon entities making loans to consumers for personal, family, or household purposes, and certain important rights conferred upon consumers, pursuant to federal or state law and that all of those laws, rules, and regulations concerning consumer loans do NOT apply to the Loan or this Agreement. Borrowers hereby confirm that they have consulted with their own attorney, or have had a fair opportunity to consult with an attorney, concerning this matter and that Borrowers’ counsel has explained to Borrowers and/or Borrowers understand that these rules, regulations, and laws concerning consumer loans do not apply to the Loan or this Agreement. Borrowers also understand that Xxxxxx will be unable to confirm whether Borrowers’ actual use of the proceeds of the Loan conforms to the requirements of this section. Borrowers agree that a breach by Borrowers of the provisions of this section will not affect Xxxxxx’s right to: (a) enforce Borrowers’ promise to pay all amounts owed under this Agreement, regardless of Borrowers’ actual use of the proceeds of the Loan; or (b) use any remedy legally available to Lender, even if that remedy would not have been available had the Loan been made for consumer or personal purposes.
4Use of Proceeds. The Loan is and shall be a “business loan”. The funds advanced by Lender under the Revolving Note will be used solely to provide funding for new real property acquisitions.
4Use of Proceeds. Borrower shall use the proceeds of the Loan to (i) pay and discharge any existing loans relating to the Property, (ii) pay all past-due Taxes, Insurance Premiums and Other Charges, if any, in respect of the Property, (iii) make initial deposits of the Reserve Funds, (iv) pay costs and expenses incurred in connection with the closing of the Loan, and (v) to the extent any proceeds remain after satisfying clauses (i) through (iv) above, for such lawful purpose as Borrower shall designate.
4Use of Proceeds. Borrower shall use the proceeds of the Loan solely to pay for Approved Project Costs and in the manner set forth herein.
4Use of Proceeds. (a)Subject to the allocation of funds at the Initial Closing as set forth in Section 1.4(b) below, assuming the full Offering amount is raised, the Company intends to use the proceeds from the sale of the Notes and Warrants for the repayment of outstanding indebtedness, to fund strategic merger and acquisition related activities and for general working capital purposes. To assist in the private placement of the Notes and Warrants, the Company may enter into placement agreements with one or more registered broker-dealers which will provide for a broker’s fee, or a commission in the form of cash and securities to be issued by the Company.
4Use of Proceeds. The Company shall use the net proceeds from the sale of Subordinated Notes for general corporate purposes, which may include, without limitation, the repayment of certain outstanding indebtedness; provided; however, that no part of the proceeds from the sale of any of the Subordinated Notes will be used by the Company or any of its Subsidiaries or Affiliates, directly or indirectly, to pay Xxxxxx, Xxxxxxxx & Company, Incorporated or any affiliate of Xxxxxx, Xxxxxxxx & Company, Incorporated, including the Placement Agent.
4Use of Proceeds. Company shall use the net proceeds from the sale of Subordinated Notes to support organic growth and for general corporate purposes.
4Use of Proceeds. The Loan is and shall be a “business loan”. The funds advanced by Lender under the Note will be used solely to satisfy the remaining portion of the outstanding indebtedness on the 142-room Fairfield Inn & Suites in Lakewood, Colorado, that is not being satisfied by the cash payment of $12,000,000.00 from Bluebird Credit EM LLC.
4Use of Proceeds. The Company intends to use the proceeds from the sale of the Units for the repayment of outstanding indebtedness, to fund strategic merger and acquisition related activities and for general working capital purposes. To assist in the private placement of the Units, the Company may enter into placement agreements with one or more registered broker-dealers which will provide for a broker’s fee, or a commission in the form of cash and securities to be issued by the Company. Offering Document No.: _____
