Use of Subscription Amount. The Subscription Amount shall be utilized by the Company in accordance with the Business Plan as approved by the Investors unless otherwise agreed by the Investors in writing.
Use of Subscription Amount. (a) The Company shall utilize the Subscription Amount in accordance with the terms of the Shareholders' Agreement.
Use of Subscription Amount. The Subscription Amount shall be utilized by the Company for working capital, capital expenditure, and other general corporate purposes in accordance with the Business Plan as approved by the Investors, unless otherwise agreed by the Investors in writing. The Company will not directly or indirectly use the proceeds of the Subscription Amount, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other person for the purpose of funding or facilitating any activities or business of or with any person towards any sales or operations in Cuba, Iran, Syria, the Democratic People’s Republic of Korea, Crimea or any other country sanctioned by OFAC from time to time or for the purpose of funding any operations or financing any investments in, or make any payments to, any person targeted by or subject to any Sanctions. The use of proceeds will be in compliance with and will not result in the breach by any Relevant Person of the Sanctions; and the Company further covenants not to engage, directly or indirectly, in any other activities that would result in a violation of Sanctions by any Person.
Use of Subscription Amount. The Company must use the funds paid to it by the Subscriber as the Subscription Amount for the general corporate purposes of the Company and its Related Bodies Corporate.
Use of Subscription Amount. The Subscription Amount shall be utilized by the Company in accordance with the Business Plan.
Use of Subscription Amount. The Warrantors shall procure that an amount of up to US$650,000 of the Subscription Amount shall be applied towards repayment of the Existing Shareholders' Loan and the balance of the Subscription Amount shall be used as operating funds of the Company.
Use of Subscription Amount. For avoidance of any doubt, it is hereby clarified that the Company shall not utilise the Subscription Amount until and unless, the Investor Securities have been validly issued and allotted.
Use of Subscription Amount. The Subscription Amount shall be utilized by the Company for working capital, capital expenditure, and general corporate purposes in accordance with the Business Plan as approved by the Investors, unless otherwise agreed by the Investors in writing. Further, up to INR 443,390,350 (Indian Rupees Four Hundred Forty Three Million Three Hundred Ninety Thousand Three Hundred and Fifty) may be utilized by the Company in order to repurchase or cancel the employee stock options granted to, or Equity Shares issued to, one or more of the Founders and employees (at the sole discretion of Xxxxxxxxx Xxxxxx), subject to any such repurchase or cancellation being at a price equal to or lower than INR 119,256 (Indian Rupees One Hundred Nineteen Thousand Two Hundred and Fifty Six).
