Common use of PROCEEDS OF THE NOTE Clause in Contracts

PROCEEDS OF THE NOTE. This Investment Note is one of a series of notes being issued by the Borrower for the specific purpose of funding the future strategic plans of TechSoup. The proceeds of this Loan and the proceeds of other loans in this series will be used in accordance with the TechSoup Offering Statement.

PROCEEDS OF THE NOTE. This Investment Note is one of a series of notes being issued by the Borrower for the specific purpose of funding the future strategic plans of TechSoup. The proceeds of this Loan Note and the proceeds of other loans notes in this series will be used in accordance with the TechSoup Offering StatementMemorandum. If Xxxxxx has opted to subordinate the investment in Section 3 of the Investment Subscription Agreement, then proceeds for repayment to Lender may first be used to cover payment obligations to holders of Community Investment Notes, if needed, and as further described in the Offering Memorandum.