USE OF PROCEEDS FROM THE DISPOSAL Sample Clauses

USE OF PROCEEDS FROM THE DISPOSAL. The proceeds from the Disposal, net of estimated expenses attributable thereto and repayment of the outstanding mortgage loan in respect of the Properties before Completion, is estimated to be approximately US$24.2 million (equivalent to approximately HK$188.8 million) and will be applied to the general working capital of the Group and operation of current principal business of the Group.
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USE OF PROCEEDS FROM THE DISPOSAL. The total gross proceeds from the Disposal, being the consideration for the Disposal pursuant to the Sale and Purchase Agreement, are HK$78.5 million. The Manager currently intends to use the proceeds, net of expenses, for repayment of loan to enable the release from existing mortgage of the Glory Rise Property, for funding investment and unit repurchase opportunities in the future and for general working capital purposes of the Sunlight REIT group. The Manager has no property acquisition target for Sunlight REIT at the time of making this announcement.
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USE OF PROCEEDS FROM THE DISPOSAL. The estimated net proceeds from the Disposal of approximately HK$15.0 million are intended to be used for general working capital of the Group.
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USE OF PROCEEDS FROM THE DISPOSAL. The Company intends to use all the net proceeds from the Disposal for general working capital purpose.
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USE OF PROCEEDS FROM THE DISPOSAL. The Group intends to apply the net proceeds of approximately HK$48.5 million from the Disposal (1) as to approximately HK$33.95 million for new investment opportunities in the Lamtex Opportunity Fund SPC; and (2) as to the remaining balance of approximately HK$14.55 million for general working capital of the Group.
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Related to USE OF PROCEEDS FROM THE DISPOSAL

  • Use of Proceeds The Company will use the net proceeds received by it from the sale of the Securities in the manner specified in the Prospectus under “Use of Proceeds.”

  • Use of Proceeds of the Loan Section 3.01. The Borrower shall cause the proceeds of the Loan to be applied to the financing of expenditures on the Project in accordance with the provisions of this Loan Agreement.

  • Use of Property The Property as defined herein shall be for the sole and exclusive use and occupation by the Tenant(s) and same’s exclusive family namely:

  • Application of Proceeds The Collateral Agent shall apply the proceeds of any collection, sale, foreclosure or other realization upon any Collateral, including any Collateral consisting of cash, as follows: FIRST, to the payment of all costs and expenses incurred by the Administrative Agent or the Collateral Agent (in their respective capacities as such hereunder or under any other Loan Document) in connection with such collection, sale, foreclosure or realization or otherwise in connection with this Agreement, any other Loan Document or any of the Obligations, including all court costs and the reasonable fees and expenses of its agents and legal counsel, the repayment of all advances made by the Collateral Agent or the Administrative Agent hereunder or under any other Loan Document on behalf of any Grantor and any other costs or expenses incurred in connection with the exercise of any right or remedy hereunder or under any other Loan Document; SECOND, to the payment in full of Unfunded Advances/Participations (the amounts so applied to be distributed between or among the Administrative Agent, any Swingline Lender and any Issuing Bank pro rata in accordance with the amounts of Unfunded Advances/Participations owed to them on the date of any such distribution); THIRD, to the payment in full of all other Obligations (the amounts so applied to be distributed (subject to the first proviso to Section 3.01 and clause (B) of the first proviso to Section 4.01(a)) among the Secured Parties pro rata in accordance with the amounts of the Obligations owed to them on the date of any such distribution); and FOURTH, to the Grantors, their successors or assigns, or as a court of competent jurisdiction may otherwise direct. The Collateral Agent shall have absolute discretion as to the time of application of any such proceeds, moneys or balances in accordance with this Agreement. Upon any sale of Collateral by the Collateral Agent (including pursuant to a power of sale granted by statute or under a judicial proceeding), the receipt of the Collateral Agent or of the officer making the sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the Collateral Agent or such officer or be answerable in any way for the misapplication thereof.

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