Common use of Purpose and utilization Clause in Contracts

Purpose and utilization. The net proceeds of the Bonds (net of legal costs, fees to the Manager and the Bond Trustee and any other agreed costs and expenses) shall exclusively be applied towards (i) refinancing of the Existing Bonds in full (including, without limitation, any costs and expenses incurred by the bond trustee under the Existing Bonds and any additional early redemption costs) and (ii) any remaining amount shall be employed for other general corporate purposes of the Group, including development of new projects. The employment of the proceeds of the Bond Issue shall upon request be evidenced to the satisfactory of the Bond Trustee.

Purpose and utilization. The net proceeds of the Bonds (net of legal costs, fees to the Manager Managers and the Bond Trustee and any other agreed costs and expenses) shall exclusively be applied towards (i) refinancing of the Existing Bonds in full (including, without limitation, any costs and expenses incurred by the bond trustee under the Existing Bonds and any additional early redemption costs) and (ii) to the extent there is any remaining amount shall be employed for other amount, general corporate purposes of the Group, including development of new projects. The employment of the proceeds of the Bond Issue shall upon request be evidenced to the satisfactory of the Bond Trustee.