Use of Proceeds Clause Example from Business Contracts

Use of Proceeds. On or prior to the date of this Note, the Payee shall remit the full principal amount to the Maker. The Maker hereby represents, warrants and covenants to the Payee, that the entire principal amount will be used by the Maker solely for purposes of making a payment pursuant to the Investment Management Trust Agreement dated October 7, 2021 by and between Maker and Continental Stock Transfer & Trust Company, a New York limited purpose trust company ("CST"), for the Extension.