Common use of Disposal of Allotted Securities Clause in Contracts

Disposal of Allotted Securities. Unless TCSCL or its nominee receives notice from the Client to the contrary and payment of all amounts owing by the Client to TCSCL or its nominee in connection with any Application (within such time as TCSCL or its nominee may specify in their notification of allotment to the Client (without prejudice to their right of repayment on demand or any other rights or remedies)), TCSCL and its nominee is authorized but not obliged, without notice to or consent from the Client, to sell or otherwise dispose of any and all Allotted Securities in such manner and for such price or prices, free from any restrictions and claims and without being responsible for any loss, as they may think fit and apply the proceeds of such sale or disposal towards discharging any liabilities in such order of priority as they may consider appropriate, including the costs incurred in connection with the sale or disposal of the Allotted Securities and all other costs incurred by TCSCL and its nominee in connection with the Application, the Handling Fee, interest payable by the Client on the IPO Loan, outstanding principal amount of the IPO Loan, and the Application Amount, and the remaining amount (if any) shall be paid to the Client or to the Client's order. In the event of any deficit after applying the proceeds of sale or disposal of the Allotted Securities, the Client shall forthwith pay on demand to TCSCL or its nominee such deficit.

Disposal of Allotted Securities. Unless TCSCL the Company or its nominee receives notice from the Client to the contrary and payment of all amounts owing by the Client to TCSCL the Company or its nominee in connection with any Application (within such time as TCSCL the Company or its nominee may specify in their notification of allotment to the Client (without prejudice to their right of repayment on demand or any other rights or remedies)), TCSCL the Company and its nominee is authorized authorised but not obliged, without notice to or consent from the Client, to sell or otherwise dispose of any and all Allotted Securities in such manner and for such price or pricesprice, free from any restrictions and claims and without being responsible for any loss, as they may think fit and apply the proceeds of such sale or disposal towards discharging any liabilities Liabilities in such order of priority as they may consider appropriate, including the costs incurred in connection with the sale or disposal of the Allotted Securities and all other costs incurred by TCSCL the Company and its nominee in connection with the Application, the Handling Fee, interest payable by the Client on the IPO Loan, outstanding principal amount of the IPO Loan, and the Application Amount, and the remaining amount (if any) shall be paid to the Client or to the Client's order. In the event of any deficit Deficit after applying the proceeds of sale or disposal of the Allotted Securities, the Client shall forthwith make good and pay on demand to TCSCL the Company or its nominee such deficitDeficit.

Disposal of Allotted Securities. Unless TCSCL the Company or its nominee receives notice from the Client to the contrary and payment of all amounts owing by the Client to TCSCL the Company or its nominee in connection with any Application (within such time as TCSCL the Company or its nominee may specify in their notification of allotment to the Client (without prejudice to their right of repayment on demand or any other rights or remedies)), TCSCL the Company and its nominee is authorized but not obliged, without notice to or consent from the Client, to sell or otherwise dispose of any and all Allotted Securities in such manner and for such price or prices, free from any restrictions and claims and without being responsible for any loss, as they may think fit and apply the proceeds of such sale or disposal towards discharging any liabilities Liabilities in such order of priority as they may consider appropriate, including the costs incurred in connection with the sale or disposal of the Allotted Securities and all other costs incurred by TCSCL the Company and its nominee in connection with the Application, the Handling Fee, interest payable by the Client on the IPO Loan, outstanding principal amount of the IPO Loan, and the Application Amount, and the remaining amount (if any) shall be paid to the Client or to the Client's order. In the event of any deficit Deficit after applying the proceeds of sale or disposal of the Allotted Securities, the Client shall forthwith make good and pay on demand to TCSCL the Company or its nominee such deficitDeficit.