Use of Subscription Proceeds. The Company shall use the Subscription Proceeds for the exploration and development of the Material Projects owned by the Company as of the date hereof, including working capital and general and administrative expenses.
Use of Subscription Proceeds. (a) The Company must use the proceeds from the issue of the Subscription Notes for:
Use of Subscription Proceeds. The Company hereby covenants and agrees that it will, and will cause the Venture Entities to, use the Subscription Proceeds solely for Permitted Expenditures and not for any other purpose. The Company further covenants and agrees that it will retain no more than $19 million of the Subscription Proceeds for purposes of operational, administrative and general expenses and costs of the Company and will contribute the balance of the Subscription Proceeds to the Venture LP, pursuant to the terms of the Venture LP Agreement.
Use of Subscription Proceeds. The Company and the Promoters undertake that the proceeds from the issue of the Convertible Instruments, shall be utilized and applied by the Company solely for the purposes of enhancing and promoting the Business of the Company, save as otherwise expressly and specifically agreed in writing by the Investor at their sole and absolute discretion.
Use of Subscription Proceeds. 7.12.1 The Issuer shall use the Subscription Proceeds in accordance with the annual budget duly approved by the Issuer’s general meeting and/or the board of Directors. The Issuer shall set up a special account for the Subscription Proceeds. The Issuer shall procure its chief financial officer (or, if there is no chief financial officer, the person in charge of its finance department at the time) to provide quarterly budget for the use of proceeds to the board of Directors of the Issuer for approval at least fifteen (15) days prior to the commencement of each quarter and to provide the bank statements to the board of Directors of the Issuer for inspection within fifteen (15) days after the end of each quarter following the Closing Date. If the board of Directors determines that the Issuer has not used the Subscription Proceeds in accordance with the purposes set forth in Clause 7.12.2 or the quarterly budget approved by the board of Directors, the Issuer shall submit a written request for use to the Subscriber in each quarter in accordance with the quarterly use plan under the budget and obtain the Subscriber’s consent before drawing down the Subscription Proceeds from the condominium bank.
Use of Subscription Proceeds. The Company shall use the Subscription Proceeds in accordance with the Strategic Development Agreement and for other corporate purposes.
Use of Subscription Proceeds. The Company shall use the Subscription Proceeds to (a) fund the development and working capital requirements of the Project in accordance with, in all material respects, the Development Budget, including exploration, infill drilling, technical and environmental programs and studies, permitting and community social relations programs, and (b) general corporate and administrative expenses of the Project Parties in respect of the Project in accordance with the Development Budget.
Use of Subscription Proceeds. The Company will use the proceeds received by it pursuant to this Subscription Agreement as follows:
Use of Subscription Proceeds. The aggregate Subscription Price will be used by the Company for general corporate purposes and to fund the Company’s (and its Related Bodies Corporate’s) development projects.
