Passing list of of data to stored procedure

Hi, I have been requested to create a stored procedure (to be called by .net) that will receive multiple input records (table of objects).  For each record, I must issue an update command.  The number of records in the list will be in the thousands.  I have coded the following program which I believe will work, but I am wondering if it will be the most efficient way to receive the list of records or if there is any limitations that would prevent me for receiving thousands of records in this way.  Is this the best way to handle this