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). 9.11
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)) Sec. 54-212. Assessment of sewer service charge. There is levied and assessed upon each lot, parcel of land or premises having any sewer connection with the sanitary sewer system of the district or for which sewer connection is available, a monthly sewer service charge as set forth below, payable on or before April 30, July 31, October 31 and January 31 of each year. In addition to the charge, rental or rate of service, a further charge of ten percent shall be added thereto in each case of failure to make a timely payment. In each case, such charges shall be collected by the clerk-treasurer on behalf of the district. Each charge levied pursuant hereto is hereby made a lien upon the lot, land or premises served by the sewerage system of the district and additions thereto pursuant to law and shall be collected pursuant to Wis. Stat. § 66.0821, if not paid. (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 DB1/63595778.5 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: Gxxxxxx Sxxxx Lending Partners LLC (“GSLP”), Jxxxxxxxx Group, Inc. (“Jefferies”) and Mxxxxx Sxxxxxx Senior Funding, Inc. (“Mxxxxx Sxxxxxx” and together with GSLP and Jefferies, in their capacities as Joint Lead Arrangers, Joint Bookrunners and Syndication Agents, the “Arrangers”). Administrative Agent: Gxxxxxx Sxxxx Lending Partners LLC (in such capacity, the “Administrative Agent”). Lenders: Gxxxxxx Sachs Bank USA, Mxxxxx Sxxxxxx and Jefferies and/or other financial institutions selected by the Arrangers (each, a “Lender” and, collectively, the “Lenders”).
Purpose/Use of Proceeds. The proceeds of the Facility will be used to fund MannKind’s Sharing Percentage of any Losses (each as defined in the License Agreement) (the “Loss Amount”).
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. 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 DIP Facility will be used, in a manner consistent with the terms of the Budget (defined below) (but not subject to any Budget compliance covenant in respect thereof): (i) first, to pay (w) transaction fees, liabilities and expenses (including all Professional Fees) (defined below) and other administration costs incurred in connection with the Cases and the negotiation, syndication, documentation (including any engagement or commitment letters), execution and closing of the DIP Facility, (x) the refinancing of the EFIH First Lien Secured Notes (as contemplated on Annex I) (including through the exchange or other roll of EFIH First Lien Secured Notes into Term Loans), and (y) Settlement Payments (as defined below), and (ii) second, to finance any and all working capital needs and for any other general corporate purposes, and to comply with any legal and/or regulatory requirements of governmental and quasi-governmental entities of the Debtors, (and, to the limited extent set forth below, of the Specified Affiliates). “Settlement Payments” shall mean amounts paid in accordance with the terms of any exchange agreement or similar document, agreement or arrangement to settle claims (including in respect of principal, interest and premium (if any)) in respect of the EFIH First Lien Secured Notes. Left Lead DIP Facility Arranger: Deutsche Bank Securities Inc. (the “Left Lead DIP Facility Arranger”).
Purpose/Use of Proceeds. Borrower may utilize and draw available funds under the Loan for any proper business purpose.
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.
