Use of Proceeds Contract Clauses (406)

Use of Proceeds. The Maker agrees that any borrowings under this Note shall be used by the Maker solely to fund any deposit into the Trust Account as described in the Maker's definitive proxy statement, dated December 16, 2022, as supplemented on January 4, 2023 and January 9, 2023.

Use of Proceeds. 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 payments to extend the period the Maker has to complete an initial business combination.

Use of Proceeds. The Company will use the proceeds from the sale of the Put Shares (excluding amounts paid by the Company for fees as set forth in the Registered Offering Transaction Documents) for general corporate and working capital purposes and acquisitions or assets, businesses or operations or for other purposes that the Board of Directors, in good faith, deem to be in the best interest of the Company.

Use of Proceeds. The proceeds of the Loan made by the Lender on the date hereof will be applied by the Borrower as follows: (i) an amount equal to $20,000,000 (the "Summit III Advance") shall be applied toward the payment of a portion of the purchase price under that certain Real Estate Purchase and Sale Agreement, dated June 2, 2015, by and among American Realty Capital Hospitality Portfolio SMT, LLC, as Purchaser, the Sellers party thereto, and Summit Hotel OP, LP, in its capacity as Seller Representative for ...the Sellers (as amended, supplemented or otherwise modified, the "Summit III Purchase Agreement"), and (ii) the remaining amount equal to $7,500,000 (the "Summit II Advance") shall be applied toward the deposit to be made pursuant to that certain letter agreement dated the date hereof between American Realty Capital Hospitality Portfolio SMT ALT, LLC and Summit Hotel OP, LP and each of the Sellers identified therein, reinstating that certain Real Estate Purchase and Sale Agreement, dated June 2, 2015, by and among American Realty Capital Hospitality Portfolio SMT, LLC, as Original Purchaser, the Sellers party thereto, and Summit Hotel OP, LP, in its capacity as Seller Representative for the Sellers (as amended, supplemented or otherwise modified, the "Summit II Purchase Agreement"). View More

Use of Proceeds. The proceeds from the sale of Shares and Warrant Shares pursuant to this Agreement shall be used for general corporate purposes.

Use of Proceeds. The Company shall use the proceeds from the sale of the Securities for general working capital purposes.

Use of Proceeds. The Maker will use the proceeds received from Holder to pay its employees' salaries and health insurance premia, Delaware franchise taxes, Holder's legal fees, D&O insurance, vendors located in Minnesota as well as Italy and the Maker's independent registered public accounting firm.

Use of Proceeds. Maker shall use the proceeds from this Note hereunder for general working capital purposes.

Use of Proceeds. The proceeds of the Tranche B-1 Term Loans shall be applied in exchange for or to prepay in full the aggregate principal amount of the Existing Term Loans outstanding on the First Amendment Effective Date in accordance with the terms hereof.

Use of Proceeds. The Company covenants that it will within, one month(s) of the Effective Date of this Consideration, it shall use approximately $100,000 of the proceeds in the manner set forth below (the "Use of Proceeds"): 3. Independent Transactions. The Borrower understands and agrees that the Note sets forth the terms for a series of independent transactions in which the Lender may elect to make a payment of Consideration to the Borrower with each payment of Consideration creating a separate obligation of t...he Borrower to the Lender with the terms set forth in the Note. Accordingly, the Maturity Date of each payment of Consideration, and the repayment terms for each payment of Consideration, are as set forth in the Note. ALL OTHER TERMS AND CONDITIONS OF THE NOTE REMAIN IN FULL FORCE AND EFFECT. Please indicate acceptance and approval of this amendment dated April 2, 2019 by signing below: /s/ Daniel Weadock /s/ Justin Ederle Indoor Harvest Corp. Tangiers Global, LLC By: Daniel Weadock By: Justin Ederle Its: CEO Its: Managing Member EX-10.1 2 ex10-1.htm Exhibit 10.1 AMENDMENT #2 TO THE $550,000 PROMISSORY NOTE DATED SEPTEMBER 14, 2018 The parties agree that the $550,000 Fixed Convertible Promissory Note (the "Note") by and between Indoor Harvest Corp. (the "Borrower") and Tangiers Global, LLC (the "Lender") is hereby amended as follows: 1. Payment. The Lender shall make a payment to the Borrower $100,000 of Consideration, plus $10,000 in an OID, for a total additional principal sum of $110,000 under the Note on or before April 2, 2019. View More