Use of Cash Proceeds. The Company, shall use the cash proceeds from the issuance of the Purchased Preferred Stock for development and working capital purposes as determined by the Board of Directors.
Use of Cash Proceeds. The Issuer shall utilize the entire amount of the proceeds received from the Investment solely for the purposes expressly set forth in the Consent Solicitation and Disclosure Statement and the Plan.
Use of Cash Proceeds. (a) The Company shall utilize (i) the entire amount of proceeds received from the issuance of the New Debt (net of transaction fees, expenses and costs) solely to repurchase and cancel Convertible Notes and pay related transaction fees, costs, expenses and taxes, and the Company will use its reasonable best efforts to effect such repurchases or redemptions as promptly as commercially practicable following the Initial Closing, and (ii) the entire amount of proceeds received from the issuance of the Initial Shares (net of transaction fees, expenses and costs) solely to repurchase and cancel Convertible Notes and pay related transaction fees, costs, expenses and taxes, and the Company will use its reasonable best efforts to effect such repurchases or redemptions as promptly as commercially practicable following the Second Closing. The Company shall notify the Purchaser of such repurchases or redemptions as promptly as practicable after their execution and no less frequently than monthly.
(b) On the Second Closing Date the Company shall use all of the proceeds received from the Purchaser’s, or any Affiliate of the Purchaser’s, purchase of $102,554,000 (face value) of Rollover Notes pursuant to Section 2.3 above solely to repurchase and cancel, at par, $102,554,000 of Convertible Notes held by the Purchaser, and in addition, and without duplication of amounts paid under the Convertible Notes, the Company shall pay to the Purchaser all accrued but unpaid interest then outstanding on such Convertible Notes. For the avoidance of doubt, all payments relating to the purchase of Rollover Notes and the repurchase and cancellation of Convertible Notes pursuant to this Section 8.7(b) shall be in United States dollars by wire transfer of immediately available funds and shall be made on the same day.
(c) On the Backstop Closing Date the Company shall use all of the proceeds received from the Purchaser’s, or any Affiliate of the Purchaser’s, purchase of Rollover Notes pursuant to Section 2.6 above to repurchase and cancel, at par, Convertible Notes held by the Purchaser with a face value equal to the amount set forth in the notice of ownership provided by the Purchaser to the Company pursuant to Section 2.5, and in addition, and without duplication of amounts paid under the Convertible Notes, the Company shall pay to the Purchaser all accrued but unpaid interest then outstanding on such Convertible Notes. For the avoidance of doubt, all payments relating to the purchase of...
Use of Cash Proceeds. The Company shall use the cash proceeds from the sale of the Purchased Shares for working capital and general corporate purposes.
Use of Cash Proceeds. The Issuers hereby agree to use the cash proceeds from the sale of the Notes, the Warrants and the Preferred Stock exclusively for the purchase of the Assets and the Business, together with the proceeds of the Mezzanine Loans and the proceeds from that certain loan from Silicon Valley Bank pursuant to that certain Loan and Security Agreement dated July 12, 2002, in connection with the Worldcom ABN Transaction pursuant to the Asset Purchase Agreement. If the Worldcom ABN Transaction does not close within two (2) days of the date hereof, the Issuers shall pay within three (3) days of the date hereof to each Purchaser the Purchase Price paid by each Purchaser pursuant to this Agreement in accordance with the wire transfer instructions provided to the Issuers by each Purchaser.
Use of Cash Proceeds. The Company, as determined by the Board of -------------------- Directors thereof, shall use the cash proceeds from the sale of the Purchased Shares for general working capital and to pay expenses associated with the transactions contemplated by this Agreement in accordance with Section 9.8 hereof. Such cash proceeds shall not be used to retire loans made by shareholders to the Company or for the redemption of any capital stock of the Company.
Use of Cash Proceeds. The cash paid by Silver Dragon to Sino pursuant to Section 1.1 shall be used to finance the exploration and, if deemed feasible by Sino-Top, development of the Property by Sino-Top and for general working capital. Silver Dragon shall have the right to review and offer proposals for the budget for such exploration of the Property. If the Option is exercised and closes, the cash paid by Silver Dragon to Sino pursuant to Section 4.2(e) shall be used to finance the exploration and, if deemed feasible by Sino-Top, development of the Additional Property by Sino-Top and for general working capital. Silver Dragon shall have the right to review and offer proposals for the budget for such exploration of the Additional Property.
Use of Cash Proceeds. The Company shall reinvest in its business -------------------- and operations or invest in short-term securities or other investments for (i) at least one year from the Closing Date, the Purchase Price and (ii) for at least one year from the date of exercise of the Option, the proceeds received upon exercise of the Option.
Use of Cash Proceeds. The cash paid by Silver Dragon to Linear pursuant to Section 2.1 shall be used by Linear partially to finance Linear Mexico's Payment Obligations to Messrs. Rxxxx Xxxxx Xxxxxx Fxxxxx, Xxxxxx Axxxxx Xxxx Xxxxxxx and Jxxx Jxxxx Xxxxxxxxx Xxxxx with respect to the Property as follows: (a) $20,000 payable in 2005; (b) $35,000 payable on April 6, 2006; and (c) $70,000 payable on April 6, 2007, with payments under (b) and (c) subject to the conditions set forth in Article VI.
Use of Cash Proceeds. The Company, as determined by the Board of Directors thereof, shall use the cash proceeds from the sale of the Debenture to provide general working capital to the Company and to pay all costs and expenses incurred by the Company in connection with the transactions provided for herein.
