Use of Proceed. For Changhua’s R&D, Clinical Trial, GMP Facilities Upgrading and Operation Expenses.
Use of Proceed sThe Borrower shall use the proceeds of the TIFIA Loan for purposes permitted by applicable law and as otherwise permitted under this Agreement and the other Related Documents.
Use of Proceed. The net proceeds to be received by the Company upon the exercise of the Option in full is estimated to be about HK$35 million which is intended to be used by the Company as general working capital and business expansion purposes. FUND RAISING ACTIVITY OF THE COMPANY IN THE 12 MONTHS IMMEDIATELY PRECEDING THE DATE OF THIS ANNOUNCEMENT The Company had not raised any fund in the 12 months immediately preceding the date of this announcement.
Use of Proceed. The Group is one of China’s leading manufacturer of flat glass, specialised in the research and development, manufacturing and selling of a variety of construction coated glass, energy-efficient and environmental-friendly glass and new-energy products, in which it occupies a leading technological position. The China-Africa Development Fund was one of the eight measures announced at the Beijing Summit of the Forum on China-Africa Cooperation by the Chinese Government in November 2006. The China-Africa Development Fund commenced its business on 26 June 2007. The China-Africa Development Fund it is the first fund to be announced by the President of the PRC and established by the State Council of the PRC, and is the only fund in China focusing on equity investment in Africa. At present, China Development Bank Corporation is the sole shareholder of China-Africa Development Fund. The Bondholder is the wholly-owned subsidiary of the China-Africa Development Fund registered in Hong Kong. It is an investment platform established by the China-Africa Development Fund to invest in projects in Africa relating to the manufacturing industry. To diversify and explore new business opportunities, the Company has been actively implementing the strategy of “going abroad”. Certain areas of Africa has been existing markets for the Company’s products, by leveraging on the PRC government’s development of the “one belt and one road” and its support for capacity transfer policies, and following the implementation of the “going abroad” strategy of the Company, the localisation of our production lines will further increase demand in those markets, allowing Africa to become the Company’s main focus for developing an overseas market. In 2015, the Company has begun the establishment of new production bases in Nigeria and Egypt. The establishment of a strategic cooperation relationship with the China-Africa Development Fund is a testament of the progress made by the Company in expanding its business to the African markets. The Directors consider that entering into the Strategic Cooperation Agreement with the China-Africa Development Fund will allow the Company to (i) create a strategic advantage for its development of the African markets for construction materials such as flat glass, (ii) leverage on the years of experience and knowledge of the China-Africa Development Fund in the African markets to increase the efficiency of the Company’s assimilation into the African markets, and (iii)...
Use of Proceed. The proceeds of the Loans will be used only to finance the working capital needs, potential acquisitions and for other general corporate purposes of the Borrower and its Subsidiaries in the ordinary course of business. No part of the proceeds of any Loan will be used by any Credit Party, whether directly or indirectly, for any purpose that entails a violation of any of the Regulations of the Boards, including Regulations T, U and X. Letters of Credit will be issued only to support obligations incurred by the Parent and its Subsidiaries for general corporate purposes.
Use of Proceed. For Xxxxxxxx’s R&D, Clinical Trial, GMP Facilities Upgrading and Operation Expenses.
Use of Proceed. Borrower will use the proceeds of (a) the Term Loans to finance a portion of the Merger (through the making of the Closing Date Intercompany Loan), effect the Refinancing and pay fees and expenses in connection with the Transactions and (b) the Revolving Loans following the Closing Date to provide ongoing working capital requirements and for general corporate purposes. Borrower may also use the proceeds of the Revolving Loans on the Closing Date to fund up to $4.0 million to provide ongoing working capital requirements. All of the proceeds from the Equity Financing will be used to fund the Transactions (other than the Refinancing, except with respect to the Xxxxx Fargo Agreement). All of the proceeds from the Closing Date Intercompany Loan will be used to fund the Merger consideration and to pay fees, commissions and expenses in connection with the Transactions.
Use of Proceed. 10291 7.11 Financial Covenants....................................................................................................10291 7.12 Sanctions.....................................................................................................................10392 7.13 Amendments of Organization Documents..................................................................10392 7.14 Accounting Changes...................................................................................................10392 7.15 Prepayments, Etc.........................................................................................................10392 7.16 Amendment, Etc..........................................................................................................10392 7.17 Sale and Leaseback Transactions................................................................................10392 7.18 Anti-Corruption Laws.................................................................................................10492
Use of Proceed. The proceeds of Loans will be used (i) for working capital and other general corporate purposes of the Borrower and its Subsidiaries, (ii) to repay the Existing Credit Facility in full and (iii) to pay Transaction Expenses.
Use of Proceed. Use the proceeds of the Loans (other than the 2021 Incremental Term Loans) only for general corporate purposes of Ultimate Parent and any of its Subsidiaries. The Borrower will not request any Credit Extension, and the Borrower shall not use, and shall procure that its Affiliates and its or their respective directors, officers, employees and agents shall not use, directly or indirectly, the proceeds of any Credit Extension (a) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (b) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country or (c) in any manner that would result in the violation of any Sanctions applicable to any party hereto.
