Net Closing Proceeds definition

Net Closing Proceeds means the funds contained in the Trust Account, together with the cash on SPAC’s balance sheet and the aggregate amount of gross proceeds from any Future PIPE Investment, after giving effect to the SPAC Stockholder Redemptions and the payment of or reimbursement of previously paid Transaction Expenses.
Sample 1Sample 2
Net Closing Proceeds means, with respect to any sale of a Release Property or any other Real Estate by a Credit Party, the gross sales price to be paid by the purchaser for such property less sums attributable to (i) closing costs, including without limitation, legal costs of the seller in connection with the sale of such property, transfer taxes, fees for recording the applicable lien release, and typical closing adjustments for real property closing (such as prorations for real property taxes and utility charges), in each case to the extent customarily paid by sellers of real property in the relevant jurisdiction and in reasonable amounts, (ii) in the case of any property subject to a Purchase Money Mortgage approved by the Lenders, any amount which must be applied in repayment of the related Purchase Money Mortgage Obligation pursuant to the terms of the documents governing such Purchase Money Mortgage Obligation, and (iii) such other items as shall have been pre-approved as to item and amount by the Agent and Requisite Lenders.
Sample 1
Net Closing Proceeds means an amount equal to: (i) the Closing Proceeds, less (ii) the sum of (A) the Purchaser’s accrued Expenses for the transactions contemplated by this Agreement and (B) the deferred Expenses (including cash amounts payable to EBC and any legal fees) of the IPO, including any Expenses that are required to be paid by delivery of the Purchaser’s securities at the Closing.
Sample 1

Examples of Net Closing Proceeds in a sentence

  • The Placement Agent shall deliver the Net Closing Proceeds to the Company either by (i) certified check of the Escrow Agent drawn on the Escrow Account and payable to the Company; or (ii) by wire transfer from the Escrow Account to the account of the Company designated herein.

  • Notwithstanding the contemporaneous execution and delivery of this Agreement, the obligation of the Seller Representative (on behalf of the Redeemed Shareholders) to close the transactions contemplated by the Stock Redemption Agreement shall be conditioned on the consummation of the transactions contemplated by Section 1.2 of this Agreement and distribution of the Net Closing Proceeds (defined in Section 1.3(a)) and the APA Rights.

  • The calculation of the Net Closing Proceeds, and the parties to whom and accounts to which payment shall be made at Closing, shall be set forth on a closing statement prepared by Buyer and delivered to Seller no less than two business days before Closing (the “Closing Statement”).

  • The Closing Statement shall, among other things, include the portion of the Net Closing Proceeds to be distributed to each Shareholder, which each Shareholder agrees shall be equal to one-twelfth (1/12) (the “Sharing Percentage”) of the total Net Closing Proceeds.

  • The Receipt shall be held in escrow by counsel for the Placement Agents until either (i) the Placement Agents deliver to the Company a certified check of the Escrow Agent as provided for above, or (ii) the Company receives telephonic confirmation by the Escrow Agent that the Net Closing Proceeds have been wired to the Company by the Escrow Agent, at which time the Receipt shall be released.


More Definitions of Net Closing Proceeds

Net Closing Proceeds means, with respect to the closing of the sale of any Lot, an amount equal to (a) the Gross Closing Cash payable at such closing minus Lender pre-approved costs such as (b) the reasonable, customary, actual and verifiable costs of the sale in question which are payable at the time of such closing, to the extent paid to third parties that are not Affiliates of Borrower, but in no event shall the total of all such costs (including any brokerage commission payable to Affiliates of Borrower) with respect to any Lot, whether payable at the time of execution of a Sales Contract or at the time of closing thereunder, exceed six percent (6%) of the gross sales price for any Lot.
Sample 1
Net Closing Proceeds means the amount of the Purchase Price remaining any Paydown or any other similar payment to creditors pursuant to an order of the Bankruptcy Court.
Sample 1
Net Closing Proceeds means the gross proceeds received by Holdings (and contributed to the Company) and the Company from the Equity Investment and the issuance and sale of the Notes minus the sum of transaction costs paid on or before the Closing Date and amounts funded into the Overhead Reserve Account.
Sample 1
Net Closing Proceeds means the net proceeds of the issue of the Notes (after payment of all commissions, fees, costs and expenses incurred in connection with the issue of the Notes which are due and payable on the Issue Date);
Sample 1

Related to Net Closing Proceeds

  • Net Financing Proceeds means the cash proceeds received by the Partnership in connection with any borrowing or refinancing of borrowing by or on behalf of the Partnership or by or on behalf of any Property Partnership (whether or not secured), after deduction of all costs and expenses incurred by the Partnership or the Property Partnership in connection with such borrowing, and after deduction of that portion of such proceeds used to repay any other indebtedness of the Partnership or Property Partnerships, or any interest or premium thereon.

  • Net Offering Proceeds means all cash or other assets received by General Partner or Borrower as a result of the issuance or sale of common shares of beneficial interest, preferred shares of beneficial interest, partnership interests, preferred partnership units, limited liability company interests, Convertible Securities or other ownership or equity interests in General Partner or Borrower less customary costs and discounts of issuance paid by General Partner or Borrower, as the case may be.

  • Financing Proceeds means the net proceeds from any loan secured by all or any portion of the Partnership's real property (including any refinancing) that remain after the repayment of any indebtedness of the Partnership secured by all or a portion of such real property with such proceeds and all costs related to such loan.

  • Closing Date Working Capital has the meaning specified in Section 2.3(b).

  • Refinancing Proceeds means the proceeds of the refinancing of any indebtedness of the Company, less the amount of expenses incurred by or on behalf of the Company in connection with such refinancing.

  • Final Closing Working Capital has the meaning set forth in Section 2.5(d).

  • Estimated Closing Working Capital has the meaning set forth in Section 2.04(a)(ii).

  • Final Closing Cash shall have the meaning set forth in Section 2.11(g).

  • Final Closing Net Working Capital has the meaning set forth in Section 2.6(c).

  • Estimated Closing Net Working Capital has the meaning set forth in Section 2.6(a).

  • First Closing has the meaning set forth in Section 2.1(a).

  • Closing Working Capital means: (a) the Current Assets of the Company, less (b) the Current Liabilities of the Company, determined as of the open of business on the Closing Date.

  • Target Closing Date means three (3) Business Days following receipt of the Approval and Vesting Order, or such other date as the Parties may agree.

  • Closing Cash means the aggregate amount of all Cash of the Company as of the close of business on the day immediately preceding the Closing Date.

  • Net Casualty Proceeds means, with respect to any Casualty Event, the amount of any insurance proceeds or condemnation awards received by the Borrower or any of its U.S. Subsidiaries in connection with such Casualty Event (net of all collection or similar expenses related thereto), but excluding any proceeds or awards required to be paid to a creditor (other than the Lenders) which holds a first priority Lien permitted by clause (d) of Section 7.2.3 on the property which is the subject of such Casualty Event.

  • Retained Asset Sale Proceeds shall have the meaning provided in Section 10.4.

  • Closing Cash Payment has the meaning set forth in Section 2.06(a).

  • First Closing Date shall refer to the time and date of delivery of certificates for the Firm Shares and such Optional Shares). Any such time and date of delivery, if subsequent to the First Closing Date, is called an “Option Closing Date,” shall be determined by the Representatives and shall not be earlier than three or later than five full business days after delivery of such notice of exercise. If any Optional Shares are to be purchased, each Underwriter agrees, severally and not jointly, to purchase the number of Optional Shares (subject to such adjustments to eliminate fractional shares as the Representatives may determine) that bears the same proportion to the total number of Optional Shares to be purchased as the number of Firm Shares set forth on Schedule A opposite the name of such Underwriter bears to the total number of Firm Shares. The Representatives may cancel the option at any time prior to its expiration by giving written notice of such cancellation to the Company.

  • Net Proceeds Offer Trigger Date has the meaning provided in Section 4.16.

  • Pre-Closing Straddle Period means the portion of the Straddle Period ending on the Closing Date.

  • Closing Cash Amount shall have the meaning set forth in Section 2.8(b).

  • Net Equity Proceeds means, with respect to each issuance or sale of any equity by any Person or any capital contribution to such Person, the cash proceeds (net of underwriting discounts and commissions and other reasonable costs associated therewith) received by such Person from the respective sale or issuance of its equity or from the respective capital contribution.

  • Estimated Closing Date Net Working Capital has the meaning set forth in Section 2.3(a)(i).

  • Estimated Closing Indebtedness has the meaning set forth in Section 2.4(a).

  • Estimated Closing Cash has the meaning set forth in Section 2.4(a).

  • RI Closing Value means, in respect of a Reference Item and a ST Valuation Date, the Settlement Level (as defined in the Equity Linked Conditions) on such ST Valuation Date.