Examples of Net Proceeds in a sentence
The Borrower’s certification that 97% of the Net Proceeds of the Bonds were applied to pay or reimburse Qualified Project Costs; that not more than 3% of the Net Proceeds of the Bonds were applied to pay or reimburse Project Costs other than Qualified Project Costs; and that no more than 2% of the proceeds of the Bonds (face amount of the Bonds, less original issue discount, if any) were used to pay Costs of Issuance.
Importance of the voteShareholders should be aware that if Resolutions 1 and 3 are not approved at the General Meeting, the Transaction will not complete and the Net Proceeds will not be received by the Company.
However, we have not entered into any definitive agreements and do not have any definite and specific commitments towards the aforementioned purposes for which our Company intends to use the Net Proceeds.
Pursuant to the SEBI Listing Regulations, our Company shall on a quarterly basis disclose to the Audit Committee the uses and application of the Net Proceeds.
Our Promoters will be required to provide an exit opportunity to such Shareholders who do not agree to the above stated proposal, ata price as prescribed by SEBI, in this regard.Other confirmationsThere is no proposal whereby any portion of the Net Proceeds will be paid to our Promoters, Promoter Group, Directors, Key Managerial Personnel, or Senior Management Personnel, except in the ordinary course of business.