Proceeds and Revenues Sample Clauses

Proceeds and Revenues. (a) The Borrower shall, and shall cause each other Loan Party to, use the proceeds of the Loans and request the issuance of Letters of Credit only for the purposes specified in Section 3.13. (b) The Borrower shall, and shall cause each of the other Loan Parties to, deposit in an Investment Account and, until expended for purposes permitted under the Loan Documents, maintain on deposit in an Investment Account, all Cash, Cash Equivalents and any other Investment Property (including all Pledged Revenues (as defined in the Security Agreement)) other than (i) On-Site Cash in an amount not to exceed $10,000,000 at any time, (ii) Cash and Cash Equivalents held, pursuant to ordinary course operations, in payroll accounts of Persons providing the Loan Parties payroll services, (iii) Cash and Cash Equivalents on temporary deposit with, or held temporarily in escrow or trust by, other Persons pursuant to customary arrangements related to transactions otherwise permitted under the Loan Documents, (iv) Cash and Cash Equivalents that in the ordinary course of business are not maintained on deposit in a bank or other deposit or investment account pending application toward working capital or other general corporate purposes of the Loan Parties, and (v) Cash and Cash Equivalents on deposit in 401(k), pension and other similar benefit accounts established in the ordinary course of business. In addition, while the Disbursement Agreement is in effect, the Borrower shall comply and shall cause the other Loan Parties to comply with the further obligations set forth in the Disbursement Agreement. (c) Each such Investment Account (other than any Excluded Account (as defined in the Security Agreement)) shall be subject to the Collateral Account Control Agreement, a Deposit Account Control Agreement (as defined in the Security Agreement) or a Securities Account Control Agreement (as defined in the Security Agreement). Any Deposit Account Control Agreement or Securities Account Control Agreement, shall be in a form mutually agreed upon by the Borrower, the Administrative Agent and the Collateral Agent and the Borrower shall, if reasonably requested by the Administrative Agent, deliver to the Administrative Agent a declination letter from the NIGC, in form and substance reasonably satisfactory to the Administrative Agent, prior to the execution of such Deposit Account Control Agreement or Securities Account Control Agreement. (d) Notwithstanding anything to the contrary set forth h...
Sample 1
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Proceeds and Revenues. (a) The Borrower shall, and shall cause each other Loan Party to, use the proceeds of the Loans and the Revolving Loans only for the purposes specified in Section 3.13. (b) Subject to the terms of the Disbursement Agreements the Borrower shall, and shall cause each of the other Loan Parties to, deposit in an Investment Account and, until utilized or disbursed in accordance with the Loan Documents, maintain on deposit in an Investment Account, all Cash and Cash Equivalents other than (i) On-Site Cash, (ii) Cash and Cash Equivalents required pursuant to Gaming Laws or by Gaming Authorities to be deposited into Gaming Reserves, (iii) Cash and Cash Equivalents held, pursuant to ordinary course operations, in payroll accounts of Persons providing the Loan Parties payroll services, (iv) Cash and Cash Equivalents on temporary deposit with, or held temporarily in escrow or trust by, other Persons pursuant to customary arrangements related to transactions otherwise permitted under the Loan Documents and solely containing funds for such purposes, (v) Cash and Cash Equivalents that in the ordinary course of business are not maintained on deposit in a bank or other deposit or investment account pending application toward working capital or other general corporate purposes of the Loan Parties, (vi) Cash and Cash Equivalents on deposit in 401(k), trust accounts (for the benefit of third parties) and pension accounts established in the ordinary course of business and solely containing funds for such purposes, (vii) Cash and Cash Equivalents on deposit in Excluded Accounts or otherwise constituting Excluded Collateral, (viii) Cash and Cash Equivalents provided as security to bonding companies, letter of credit providers, Governmental Authorities, service providers or hedge counterparties pursuant to Section 6.02(d), Section 6.02(s), Section 6.02(u), Section 6.02(v) or Section 6.02(bb) and (ix) proceeds of any FF&E Agreement or Specified FF&E Collateral. (c) The Borrower shall cause the Sponsors to make the Required Equity Contributions (i) in an amount equal to the Golf Course Equity Amount for deposit into the Golf Course Equity Account and (ii) in such amounts and at such times as required pursuant to the Disbursement Agreements for deposit into the Company Funds Account.
Sample 1
Proceeds and Revenues. From the date hereof, until Parent shall have received all Proceeds Consideration and Revenue Consideration, Purchaser shall not (i) take (nor permit TDR to take) any action to hinder, or (ii) refrain from taking (or permit TDR to refrain from taking) any commercially reasonable action to facilitate, the collection of the Proceeds Consideration, the Revenue Consideration and the repayment of Advances.
Sample 1
Proceeds and Revenues. (a) The Borrowers will use the proceeds of the Loans in conformance with the Closing Date Sources and Uses and the approved Budget and Schedule (as the same may be modified pursuant to the line item reallocation rights of Borrowers as set forth in the definition of Budget and Schedule and provided, for the avoidance of doubt, that Borrower shall entitled to a Disbursement in the aggregate up to 110% of the aggregate amount specified for each calendar month in the Budget and Schedule in accordance with the terms of Section 5.13(d)(i)(3). Without limiting the foregoing, any (i) and all funds held in the Legacy Accounts and (ii) which are received by or on behalf of Borrowers from any and all sources shall be used solely to fund the Development Costs, Permitted Investments or in a manner which are otherwise accretive to the value of the HOFV Project; provided (and without limiting any other terms of this Agreement), that any uses consistent with Schedule 5.13(a) attached hereto shall be deemed to be a permissible use of such funds. (b) Borrowers shall deposit in the Proceeds Account any and all funds received by or on behalf of Borrowers from any and all sources, including, but not limited to (and without limiting any of the limitations on Borrower’s rights under this Agreement), (i) Equity Issuances, (ii) Indebtedness, (iii) Future Sponsorship Agreements and (iv) any revenue received by Borrowers; except for (w) proceeds of any PILOT Loan, (x) restricted cash pursuant to the EME Customer Contract, or (y) or funds required to be segregated into separate accounts pursuant to any Sponsorship Loan Agreement or pursuant to any other contractual requirement which contract has been approved by Administrative Agent. Notwithstanding the foregoing, any cash proceeds received by any Borrower after the Closing Date in connection with any new Permitted Indebtedness, Permitted Equity Issuance, Sponsorship Collateral Loan or Series A Preferred Stock, as applicable, once the Required Repayment Percentage in respect of the same has been remitted to Administrative Agent, Borrowers shall be permitted, so long as no Default or Event of Default has occurred and is continuing, to deposit all remaining funds in respect of the same in an Additional Account (that is subject to a Control Agreement) and Borrowers shall not be required to deposit any of such remainder in the Proceeds Account.
Sample 1

Related to Proceeds and Revenues

  • Proceeds The Company shall use the proceeds from the issuance and sale of the Securities as set forth in “Use of Proceeds to issuer” in the Offering Circular.

  • Proceeds of Sale The proceeds of any collection, recovery, receipt, appropriation, realization or sale of the Collateral shall be applied by the Pledgee as follows: (a) First, to the payment of all costs, reasonable expenses and charges of the Pledgee and to the reimbursement of the Pledgee for the prior payment of such costs, reasonable expenses and charges incurred in connection with the care and safekeeping of the Collateral (including, without limitation, the reasonable expenses of any sale or any other disposition of any of the Collateral), the expenses of any taking, attorneys' fees and reasonable expenses, court costs, any other fees or expenses incurred or expenditures or advances made by Pledgee in the protection, enforcement or exercise of its rights, powers or remedies hereunder; (b) Second, to the payment of the Indebtedness, in whole or in part, in such order as the Pledgee may elect, whether or not such Indebtedness is then due; (c) Third, to such persons, firms, corporations or other entities as required by applicable law including, without limitation, Section 9-504(1)(c) of the UCC; and (d) Fourth, to the extent of any surplus to the Pledgors or as a court of competent jurisdiction may direct. In the event that the proceeds of any collection, recovery, receipt, appropriation, realization or sale are insufficient to satisfy the Indebtedness, each Pledgor shall be jointly and severally liable for the deficiency plus the costs and fees of any attorneys employed by Pledgee to collect such deficiency.

  • Gross Revenues All revenues, receipts, and income of any kind derived directly or indirectly by Lessee from or in connection with the Hotel (including rentals or other payments from tenants, lessees, licensees or concessionaires but not including their gross receipts) whether on a cash basis or credit, paid or collected, determined in accordance with generally accepted accounting principles, excluding, however: (i) funds furnished by Lessor, (ii) federal, state and municipal excise, sales, and use taxes collected directly from patrons and guests or as a part of the sales price of any goods, services or displays, such as gross receipts, admissions, cabaret or similar or equivalent taxes and paid over to federal, state or municipal governments, (iii) the amount of all credits, rebates or refunds to customers, guests or patrons, and all service charges, finance charges, interest and discounts attributable to charge accounts and credit cards, to the extent the same are paid to Lessee by its customers, guests or patrons, or to the extent the same are paid for by Lessee to, or charged to Lessee by, credit card companies, (iv) gratuities or service charges actually paid to employees, (v) proceeds of insurance and condemnation, (vi) proceeds from sales other than sales in the ordinary course of business, (vii) all loan proceeds from financing or refinancings of the Hotel or interests therein or components thereof, (viii) judgments and awards, except any portion thereof arising from normal business operations of the Hotel, and (ix) items constituting “allowances” under the Uniform System.

  • Net Sales Proceeds In the case of a transaction described in clause (A) of the definition of Sale, the proceeds of any such transaction less the amount of selling expenses incurred by or on behalf of the Company, including all real estate commissions, closing costs and legal fees and expenses. In the case of a transaction described in clause (B) of such definition, Net Sales Proceeds means the proceeds of any such transaction less the amount of selling expenses incurred by or on behalf of the Company, including any legal fees and expenses and other selling expenses incurred in connection with such transaction. In the case of a transaction described in clause (C) of such definition, Net Sales Proceeds means the proceeds of any such transaction actually distributed to the Company from the Joint Venture less the amount of any selling expenses, including legal fees and expenses incurred by or on behalf of the Company (other than those paid by the Joint Venture). In the case of a transaction or series of transactions described in clause (D) of the definition of Sale, Net Sales Proceeds means the proceeds of any such transaction (including the aggregate of all payments under a Mortgage or in satisfaction thereof other than regularly scheduled interest payments) less the amount of selling expenses incurred by or on behalf of the Company, including all commissions, closing costs and legal fees and expenses. In the case of a transaction described in clause (E) of such definition, Net Sales Proceeds means the proceeds of any such transaction less the amount of selling expenses incurred by or on behalf of the Company, including any legal fees and expenses and other selling expenses incurred in connection with such transaction. In the case of a transaction described in the last sentence of the definition of Sale, Net Sales Proceeds means the proceeds of such transaction or series of transactions less all amounts generated thereby which are reinvested in one or more Assets within 180 days thereafter and less the amount of any real estate commissions, closing costs, and legal fees and expenses and other selling expenses incurred by or allocated to the Company in connection with such transaction or series of transactions. Net Sales Proceeds shall also include any consideration (including non-cash consideration such as stock, notes, or other property or securities) that the Company determines, in its discretion, to be economically equivalent to proceeds of a Sale, valued in the reasonable determination of the Company. Net Sales Proceeds shall not include any reserves established by the Company in its sole discretion.

  • Proceeds of Collateral Borrowers shall request in writing and otherwise take all necessary steps to ensure that all payments on Accounts or otherwise relating to Collateral are made directly to a Dominion Account (or a lockbox relating to a Dominion Account). If any Borrower or Subsidiary receives cash or Payment Items with respect to any Collateral, it shall hold same in trust for Agent and promptly (not later than the next Business Day) deposit same into a Dominion Account.

  • Proceeds of Notes The Borrower will not permit the proceeds of the Notes to be used for any purpose other than those permitted by Section 7.21. Neither the Borrower nor any Person acting on behalf of the Borrower has taken or will take any action which might cause any of the Loan Documents to violate Regulations T, U or X or any other regulation of the Board or to violate Section 7 of the Securities Exchange Act of 1934 or any rule or regulation thereunder, in each case as now in effect or as the same may hereinafter be in effect. If requested by the Administrative Agent, the Borrower will furnish to the Administrative Agent and each Lender a statement to the foregoing effect in conformity with the requirements of FR Form U-1 or such other form referred to in Regulation U, Regulation T or Regulation X of the Board, as the case may be.

  • Net Proceeds The Company will apply the net proceeds from the Offering and the sale of the Private Placement Warrants received by it in a manner consistent with the applications described under the caption “Use of Proceeds” in the Statutory Prospectus and the Prospectus.

  • Production Proceeds Notwithstanding that, by the terms of the various Mortgages, certain Guarantors and Borrower are and will be assigning to Administrative Agent and Lenders all of the “Production Proceeds” (as defined therein) accruing to the property covered thereby, so long as no Event of Default has occurred such Loan Parties may continue to receive from the purchasers of production all such Production Proceeds, subject, however, to the Liens created under the Mortgages, which Liens are hereby affirmed and ratified. Upon the occurrence of an Event of Default, Administrative Agent and Lenders may exercise all rights and remedies granted under the Mortgages, including the right to obtain possession of all Production Proceeds then held by Loan Parties or to receive directly from the purchasers of production all other Production Proceeds. In no case shall any failure, whether purposed or inadvertent, by Administrative Agent or Lenders to collect directly any such Production Proceeds constitute in any way a waiver, remission or release of any of their rights under the Mortgages, nor shall any release of any Production Proceeds by Administrative Agent or Lenders to Loan Parties constitute a waiver, remission, or release of any other Production Proceeds or of any rights of Administrative Agent or Lenders to collect other Production Proceeds thereafter.

  • Gross Proceeds The aggregate purchase price of all Shares sold for the account of the Company through all Offerings, without deduction for Sales Commissions, volume discounts, any marketing support and due diligence expense reimbursement or Organization and Offering Expenses. For the purpose of computing Gross Proceeds, the purchase price of any Share for which reduced Sales Commissions are paid to the Dealer Manager or a Soliciting Dealer (where net proceeds to the Company are not reduced) shall be deemed to be the full amount of the offering price per Share pursuant to the Prospectus for such Offering without reduction.

  • Gross Revenue The Gross Revenue shall be inclusive of installation charges, late fees, sale proceeds of handsets (or any other terminal equipment etc.), revenue on account of interest, dividend, value added services, supplementary services, access or interconnection charges, roaming charges, revenue from permissible sharing of infrastructure and any other miscellaneous revenue, without any set-off for related item of expense, etc.

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