Examples of Subscription Proceeds in a sentence
The Company has requested, and the Investor has agreed, subject to the terms and conditions set out in the Transaction Documents (as defined herein), to provide Subscription Proceeds (as defined herein) for the exploration of the Material Projects (as defined herein) owned by the Company as of the date hereof.
The Company is not and, after giving effect to application of the Subscription Proceeds, will not be, required to register as an “investment company” under the Investment Company Act of 1940, as amended (the “Investment Company Act”), and is not and will not be an entity “controlled” by an “investment company” within the meaning of the Investment Company Act.
The Investor shall be entitled to set-off any costs and expenses that are eligible to be reimbursed pursuant to this Section 7.12 by deducting such amounts from the amount of the Subscription Proceeds that is to be paid to the Company at Closing.
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.