Subscription Proceeds Sample Clauses

Subscription Proceeds. The Company agrees that it shall deliver to the Escrow Agent via insured overnight mail, courier or by similar acceptable means, immediately upon receipt thereof, all subscription proceeds from the subscription for Units in the Offering, together with a copy of each such subscriber's completed and executed Subscription Agreement. The Company will instruct subscribers to make checks for Unit subscriptions payable to the order of the Escrow Agent. Any checks received by the Escrow Agent that are made payable to a party other than as set forth above shall be returned to the Company for restrictive endorsement by the payee to the Escrow Agent. Upon approval of each subscription by the Company (but not prior thereto), the Escrow Agent is authorized to forward each subscription check received for collection and, upon collection of such check, to immediately deposit the collected proceeds in the Escrow Account.
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Subscription Proceeds. All subscription proceeds received and accepted will be deposited directly into the Company’s operating account and following acceptance by the Company hereunder and payment by the Company of its costs and expenses, including organization and Offering expenses and such funds will be used by the Company for general corporate purposes, including salaries. The Company may use proceeds of the Offering immediately upon each Closing.
Sample 1
Subscription Proceeds. (A) If (1) a Investing Member’s I-526 Petition has been denied (without appeal or after denial of any appeal) by USCIS and (2) the Subscription Proceeds from such Investing Member still remains in the Escrow Account at such time, then the Escrow Agent shall return to the denied Investing Member identified in the Written Direction of the Manager, all of his or her Subscription Proceeds to the account from which such Subscription Proceeds originated, without deduction or payment of interest. (B) If (1) a Investing Member’s I-526 Petition has been denied (without appeal or after denial of any appeal) by USCIS and (2) the denied Investing Member’s Subscription Proceeds previously were released from the Escrow Account in accordance with Section 4(a) of the Escrow Agreement, the Escrow Agent shall return the Subscription Holdback Amount to the account from which such Subscription Holdback Amount originated, if such funds are still in the Subscription Holdback Account, to the denied Investing Member identified in the Written Direction of the Manager, without deduction or payment of interest. In such circumstances, the Manager shall also include in the Written Direction to the Escrow Agent instructions to release an additional amount from the Subscription Holdback Account (representing the Subscription Holdback Amount of other Investing Members) to the Company Account to enable the Company to continue its operations without deficit being caused by the Company’s refund of the denied Investing Member’s Subscription Proceeds in accordance with the terms and conditions set forth in the Company’s Operating Agreement. The additional amount to be disbursed from the Subscription Holdback Account to the Company Account shall equal $400,000.00 (in the case where the denied Investing Member’s Subscription Holdback Amount has been directly refunded by the Escrow Agent from the Subscription Holdback Account) or $500,000.00 (in the case where a denied Investing Member’s Subscription Holdback Amount has been previously released from the Escrow Account into the Company Account in accordance with Section 4(b)(III)(i)(B)) of the Escrow Agreement. (C) If there are insufficient funds available in the Subscription Holdback Account or the Company Account to refund the full amount of the Subscription Proceeds to the denied Investing Member as provided in Section 4(b)(III)(i)(B) of Escrow Agreement, then such refund may be delayed until there is at least $500,000.00 of funds in the Subsc...
Sample 1
Subscription Proceeds. All subscription proceeds received pursuant to this Agreement shall be placed into an escrow account, and upon acceptance of the subscription and the Initial Closing, such subscription proceeds shall be deposited directly into the Company’s operating account. Following payment by the Company of its costs and expenses, including organization and Offering expenses and the fees and expenses of Alexander Capital, L.P., the placement agent for this Offering (“Placement Agent”), such funds will be used by the Company for general working capital purposes. Adamas One Note Purchase Agreement 1
Sample 1
Subscription Proceeds. All subscription proceeds received pursuant to this Agreement shall be placed into a segregated trust account established by the Company in a financial institution having assets of not less than $1 billion whose accounts are insured by the Federal Deposit Insurance Corporation for the benefit of the Subscribers, and upon acceptance of the subscription and the Initial Closing, such subscription proceeds shall be deposited directly into the Company’s operating account. Following payment by the Company of its costs and expenses, including organization and Offering expenses and the fees and expenses of Alexander Capital, L.P., the placement agent for this Offering (“Placement Agent”), such funds will be used by the Company for general working capital purposes. Adamas Convertible Note Purchase Agreement
Sample 1
Subscription Proceeds. The Trustee shall receive subscription proceeds in respect of the initial public offering of Trust Units of the Fund and hold the same in trust for the subscribers in accordance with a separate agreement to be entered into with respect thereto.
Sample 1
Subscription Proceeds. All funds received by the Managing Dealer, if any, for the sale of Shares shall be deposited in an account established by the Company at a bank to be selected by the Company (the “Bank”), by the close of the first business day following receipt of such funds by the Managing Dealer. Checks may be made payable to the Company. The Managing Dealer may authorize certain Participating Brokers to instruct their customers to make their checks for Shares subscribed for payable directly to the Participating Broker. In such case, the Participating Broker will collect the proceeds of the subscribers’ checks and issue a check made payable to the order of the Company for the aggregate amount of the subscription proceeds. The Company represents and covenants that it will forward copies of the bank statements to the Managing Dealer on a monthly basis and such other times as reasonably requested by the Managing Dealer.
Sample 1
Subscription Proceeds. All subscriptions shall be deposited in an escrow account at Bank of New York reference: Elite Pharmaceuticals, Inc for the benefit of customers established under Exchange Act Rule 15c2-4 pending the Closing or termination of the Offering. Prior to the Closing or termination of the Offering, the Company will notify the Placement Agent as to which, if any, subscriptions it will not accept; provided that proceeds for subscriptions not accepted will be promptly returned without interest following termination of the Offering. The Company may not accept subscriptions if the aggregate subscription do not equal or exceed $4,000,000 or if the Closing Price is less than $1.40.
Sample 1
Subscription Proceeds. All subscription proceeds received pursuant to this Agreement shall be wired directly to the Company pursuant to the terms of this Agreement. Following payment by the Company of its costs and expenses, including Offering expenses and the fees and expenses of Alexander Capital, L.P., the placement agent for this Offering (“Placement Agent”), such funds will be used by the Company to repurchase all of the outstanding secured debt previously issued by the Company (the “Outstanding Notes”). Adamas One Convertible Note Purchase Agreement
Sample 1

Related to Subscription Proceeds

  • Working Capital Trust Account Proceeds Upon consummation of the Offering, $250,000 of the proceeds from the sale of the Firm Units will be released to the Company to fund the working capital requirements of the Company, and the remainder of the proceeds from the sale of the Firm Units will be deposited into the Trust Account and held pursuant to the terms of the Trust Agreement.

  • Loan Proceeds Borrower shall use the proceeds of the Loan received by it on the Closing Date only for the purposes set forth in Section 2.1.4.

  • Trust Account Proceeds Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination as required by its Charter Documents (the “Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the Company, all as more fully described in the Prospectus.

  • Liquidation Proceeds Cash received in connection with the liquidation of a defaulted Mortgage Loan, whether through the sale or assignment of such Mortgage Loan, trustee’s sale, foreclosure sale, payment in full, discounted payoff or otherwise, or the sale of the related Mortgaged Property if the Mortgaged Property is acquired in satisfaction of the Mortgage Loan, including any amounts remaining in the related Escrow Account.

  • Initial Escrow Amount; Issuance of Escrow Receipts The Escrow Agent hereby directs the Underwriters to, and the Underwriters hereby acknowledge that on the date hereof they shall, irrevocably deliver to the Depositary on behalf of the Escrow Agent, an amount in U.S. dollars ("Dollars") and immediately available funds equal to $56,000,000 for deposit on behalf of the Escrow Agent with the Depositary in accordance with Section 2.1 of the Deposit Agreement. The Underwriters hereby instruct the Escrow Agent, upon receipt of such sum from the Underwriters, to confirm such receipt by executing (by manual or facsimile signature) and delivering to the Pass Through Trustee an Escrow Receipt in the form of Exhibit A hereto (an "Escrow Receipt"), (a) to be affixed by the Pass Through Trustee to each Certificate and (b) to evidence the same percentage interest ("Escrow Interest") in the Account Amounts (as defined below) as the Fractional Undivided Interest in the Pass Through Trust evidenced by the Certificate to which it is to be affixed. The Escrow Agent shall provide to the Pass Through Trustee for attachment to each Certificate newly issued under and in accordance with the Pass Through Trust Agreement an executed Escrow Receipt as the Pass Through Trustee may from time to time request of the Escrow Agent. Each Escrow Receipt shall be registered by the Escrow Agent in a register (the "Register") maintained by the Escrow Agent in the same name and same manner as the Certificate to which it is attached and may not thereafter be detached from such Certificate to which it is to be affixed prior to the distribution of the Final Withdrawal (the "Final Distribution"). After the Final Distribution, no additional Escrow Receipts shall be issued and the Pass Through Trustee shall request the return to the Escrow Agent for cancellation of all outstanding Escrow Receipts.

  • Private Placement Proceeds On the Closing Date, the Company shall cause to be deposited $4,500,000 of proceeds from the Private Placement into the Trust Account. On the Option Closing Date, if any, the Company shall cause to be deposited an amount of additional proceeds from the additional Private Warrants sold on the Option Closing Date into the Trust Account such that the amount of funds in the Trust Account shall be $10.10 per Public Share sold in the Offering.

  • Sale Proceeds The proceeds of sale of any new Series of Notes shall be wired to the Collection and Funding Account, and the Indenture Trustee shall disburse such sale proceeds at the direction of the Administrator on behalf of the Issuer, except to the extent such funds are needed to satisfy the Collateral Test. The Administrator on behalf of the Issuer may direct the Issuer to apply such proceeds to reduce pro rata based on Invested Amounts, the VFN Principal Balance of any Classes of Variable Funding Notes, or to redeem any Series of Notes in accordance with Section 13.1. In the absence of any such direction, the proceeds of such sale shall be distributed to the Depositor or at the Depositor’s direction on the Issuance Date for the newly issued Notes. The Administrator shall deliver to the Indenture Trustee a report demonstrating that the release of sale proceeds pursuant to the Issuer’s direction will not cause a failure of the Collateral Test, as a precondition to the Indenture Trustee releasing such proceeds.

  • 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.

  • 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.

  • 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.