Each Subscription Clause Samples

Each Subscription. Right shall be non-transferable and shall, if exercised by the holder thereof in the manner set forth in the Prospectus, become irrevocable upon the expiration of the Rights Offering. The Subscription Agent shall, in its capacity as transfer agent for the Company, maintain a register of Subscription Rights and the holders of record thereof (each of whom shall be deemed a "Shareholder" hereunder for purposes of determining the rights of holders of Subscription Rights). Each Subscription Right shall, subject to the provisions thereof, entitle the Shareholder in whose name it is recorded to the following: (1) The right (the "Basic Subscription Right") to purchase a number of Shares equal to one Share for every five (5) Subscription Rights; provided, however, that no Rights Certificates which evidence fractional rights and no fractional Shares shall be issued; and (2) The right (the "Oversubscription Right") to purchase from the Company additional Shares, subject to the availability of such shares and to allotment of such shares as may be available among Shareholders who exercise Oversubscription Rights on the basis specified in the Prospectus; provided, however, that a Shareholder who has not exercised his Basic Subscription Rights with respect to the full number of shares that such Shareholder is entitled to purchase by virtue of his Basic Subscription Rights as of the Expiration Date, if any, shall not be entitled to any Oversubscription Rights.