Examples of Equity Proceeds in a sentence
No later than the fifth Business Day following the date of receipt by the Borrower of any Borrower Equity Proceeds (other than if received pursuant to an Excluded Issuance), the Borrower shall prepay the Term Loans as set forth in Section 2.11 in an aggregate amount equal to 50% of such Borrower Equity Proceeds, net of attorneys’ fees, investment banking fees, accountants’ fees, underwriting discounts and commissions and other customary costs and expenses actually incurred in connection therewith.
For the avoidance of doubt this Section 6.15 shall not limit SEP’s ability to utilize SEP Restricted Equity Proceeds to fund capital expenditures of SEP or any of its Subsidiaries (including any acquisitions, mergers or joint ventures).
On the Closing Date, the proceeds from the sale of the Series 2019A Notes shall be deposited into the Note Proceeds Account and the proceeds of the draw on the Bridge Loan shall be deposited into the Equity Proceeds Account.
Monies on deposit in the Note Proceeds Account and the Equity Proceeds Account shall be disbursed for payment of (a) costs of the Project, (b) interest on the Series 2019 Notes during construction of the Project and (c) Issuance Costs of the Series 2019 Notes, as provided herein.
Spectra MLP shall not, and shall cause its subsidiaries not to, use Spectra MLP Restricted Equity Proceeds for any purposes other than the funding of capital expenditures of Spectra MLP or any of its subsidiaries (including any acquisitions, mergers or joint ventures).