Common use of Acceptance of Subscription and Issuance of Shares Clause in Contracts

Acceptance of Subscription and Issuance of Shares. It is understood and agreed that the Company has the right to accept or reject this subscription, in whole or in part, and that this subscription is accepted by the Company only when it is signed by a duly authorized officer of the Company and delivered to the undersigned at the Closing referred to in Section 3.