Common use of Accounting and Recording Clause in Contracts

Accounting and Recording. (1) The Warrant Agent shall promptly account to the Corporation with respect to Warrants exercised, and shall promptly forward to the Corporation (or into an account or accounts of the Corporation with the bank or trust company designated by the Corporation for that purpose), all monies received by the Warrant Agent on the subscription of Warrant Shares through the exercise of Warrants. All such monies and any securities or other instruments, from time to time received by the Warrant Agent, shall be received in trust for, the Warrantholders and the Corporation as their interests may appear, and shall be segregated and kept apart by the Warrant Agent.

Accounting and Recording. (1) The Warrant Agent shall promptly promptly, and in any event within five Business Days following any exercise of Warrants, account to the Corporation with respect to Warrants exercised, and shall promptly forward to the Corporation (or into an account or accounts of the Corporation with the bank or trust company designated by the Corporation for that purpose), all monies received by the Warrant Agent on the subscription of Warrant Ordinary Shares through the exercise of Warrants. All such monies and any securities or other instruments, from time to time received by the Warrant Agent, shall be received in trust for, the Warrantholders and the Corporation as their interests may appear, and shall be segregated and kept apart by the Warrant Agent, the Warrantholders and the Corporation as their interests may appear.