Purpose/Use of Proceeds Sample Clauses
Purpose/Use of Proceeds. The proceeds of the Loans will be used by the Borrowers for working capital, for the refinancing of existing Indebtedness and for its purchase of Container Equipment and for general corporate purposes (including the payment of dividends to its shareholders).
Purpose/Use of Proceeds. It is determined and declared to be necessary and conducive to the protection of the public health, safety, welfare and convenience of the town and the district to provide for the receipt of adequate revenues to meet the requirements of debt service, operation and maintenance (including replacement) and the establishment of adequate cash reserves by levying upon and collecting from all lands, lots and premises served by having connections with the sewer system of the district or where connection to the sewer system of the district is available monthly sewerage service charges. The proceeds of such charges shall be used and set aside to provide for debt service, operation and maintenance (including replacement). Such sewerage service charges shall be so established so as to proportionately allocate the costs of operation and maintenance (including replacement) to each user class. In allocating such costs, factors such as strength, volume and delivery flow rate characteristics shall be utilized in determining the waste load contribution from each user class. (Code 1982, § 19.09(1)) (Code 1982, § 19.09(2); Ord. No. 2013-01, § 1, 1-28-2013)
Purpose/Use of Proceeds. The purpose of the Offering is to raise sufficient equity capital in order to enable the Company to remain solvent and continue as a going concern. The Company will use the proceeds from the sale of the Shares in the Offering to pay down outstanding accounts payable to vendors and service providers, to meet near-term debt service requirements, to redirect and refocus its business plan, and otherwise to apply to general working capital purposes.
Purpose/Use of Proceeds. The proceeds of the Term Facilities will be used to fund the Refinancing, the Dividend, the Post-Merger Special Dividend and all fees and expenses in connection with the Merger (such fees and expenses, the “Transaction Expenses”). Amounts available under the Revolving Facility will be used to finance transaction expenses related to the Merger, for permitted capital expenditures and permitted acquisitions (subject to customary conditions and pro forma financial tests to be agreed), to provide for the ongoing working capital requirements of Parent and its subsidiaries following the Merger and for general corporate purposes. Joint Lead Arrangers, Joint Bookrunners and Syndication Agents: Xxxxxxx Xxxxx Lending Partners LLC (“GSLP”), Xxxxxxxxx Group, Inc. (“Jefferies”) and Xxxxxx Xxxxxxx Senior Funding, Inc. (“Xxxxxx Xxxxxxx” and together with GSLP and Jefferies, in their capacities as Joint Lead Arrangers, Joint Bookrunners and Syndication Agents, the “Arrangers”).
Purpose/Use of Proceeds. The proceeds of the Term Loan Facility will be used to fund working capital and other general corporate purposes, including to partially fund the Transactions. Availability: A single drawing in a combination of U.S. dollars and euro on the Closing Date; provided that on and after the Closing Date the Delayed Draw Facility shall be available to be drawn in a combination of U.S. dollars and euro up to two times prior to and including the date that is six months after the Closing Date (the “Delayed Draw Termination Date”).
Purpose/Use of Proceeds. All proceeds of DIP Loans shall be used to, among other things, (a) pay fees, interest, and expenses associated with the DIP Facility, (b) provide for the ongoing working capital and capital expenditure needs of the Debtors during the pendency of the Chapter 11 Cases strictly in accordance with the Budget (as updated from time to time as set forth herein), subject to the Permitted Variances (as defined below), including to pay obligations under any DIP Xxxxxx as they become due, (c) fund the adequate protection payments as authorized by the Bankruptcy Court in the Financing Orders, (d) fund the costs of the administration of the Chapter 11 Cases (including the Carve Out (as defined below)) strictly in accordance with the Budget (as updated from time to time as set forth herein), subject to the Permitted Variances, and (e) to refinance the portion of the Pre-Petition Secured Indebtedness constituting the Roll-Up Amount (which, for the avoidance of doubt, does not include the Retained Pre-Petition Claim).
Purpose/Use of Proceeds. The proceeds of the First Lien Facility will be used by the Borrower to fund, in part, the Acquisition (including paying all Transaction Costs).
Purpose/Use of Proceeds. The proceeds of borrowings under the ABL DIP Facility are to be used for costs, expenses and fees in connection with the ABL DIP Facility, for working capital of Borrower and its Subsidiaries’ restructuring costs, and other general corporate purposes, in each case consistent with the Budget (as defined in the ABL DIP Facility). The proceeds may not be used in connection with the initiation or prosecution of any claims or defenses against Agent or any Lender or any Supplemental Loan Participant, or preventing, hindering, or delaying the assertion of enforcement of any lien, claim, right or security interest or realization upon any ABL Collateral by Agent or any Lender. No portion of the claims in the Chapter 11 Case, other than those administrative expenses or priority claims directly attributable to the operation of the business of Borrower consistent with the Budget or to which Agent has specifically agreed, shall be funded with the Loans, the Supplemental Loans or LCs and the percentages and categories of permitted allocations of such claims and expenses not previously approved in the Budget shall be approved by Agent. . Letters of Credit will be used to support Borrower’s payment obligations incurred in the ordinary course of business consistent with the Budget. Proceeds from the Supplemental Loan shall be used by the Borrower consistent with the Budget, including, without limitation, to repay a portion of the revolving loans outstanding as of the filing of the Chapter 11 Case
Purpose/Use of Proceeds. The proceeds of the Bridge Facility will be used to fund, in part, the Acquisition, for the repayment of certain existing indebtedness of the Target, and to pay all or a portion of the costs incurred by the Company or any of its subsidiaries in connection with such transactions.
Purpose/Use of Proceeds. The purpose of the Term Loan is to pay the fees, costs and expenses of the Borrower and its Subsidiaries as and to the extent that such fees, costs or expenses are specifically provided for in the Series B Term Loan Budget. The proceeds of the Term Loan shall be kept in the Series B Term Loan Controlled Account and shall be used by solely as provided in the Series B Term Loan Budget.