Failure of the Issue after the Designated Date Sample Clauses

Failure of the Issue after the Designated Date. 3.2.2.1 After the funds (including funds received from ASBA Bidders and Anchor Investors) are transferred from the Escrow Accounts and the ASBA Accounts to the Public Issue Account, in the event that the listing of the Equity Shares does not occur in the manner described in the Issue Documents, SEBI ICDR Regulations or any other Applicable Laws, the Managers shall intimate the Public Issue Account Bank, Refund Bank and the Registrar to the Issue in writing to transfer amount from the Public Issue Account to the Refund Account, in the form specified in Schedule X, hereto (with a copy to the Company). The Public Issue Account Bank shall, and the Registrar to the Issue shall ensure that the Public Issue Account Bank shall, after a notice to the Managers (with a copy to the Company), not later than 1 (one) Working Day from the date of receipt of the aforementioned notice from the Managers, transfer the amount held in the Public Issue Account to the Refund Account. Thereafter, the Refund Bank shall on the same Working Day, ensure the refund of amounts held in the Refund Account to the Bidders in accordance with the Applicable Laws (including the RTA Master Circular and the April 2022 Circular II, as applicable) and Clause 3.2.4 as per the modes specified in the Red Xxxxxxx Prospectus and the Prospectus. All refunds under this Agreement shall be payable by the Refund Bank and until such refunds are paid as agreed herein, the monies lying in the Refund Account shall be held for the benefit of the Bidders without any right or lien thereon.
Sample 1
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Failure of the Issue after the Designated Date. In the event that the listing of the Equity Shares does not occur in the manner described in the Offer Documents, SEBI ICDR Regulations and any other Applicable Law, after the funds are transferred to the Public Issue Account, the Company and the BRLM shall, intimate the Banker to the Issue and the Registrar in writing (as provided in Schedule X), and the Banker to the Issue and the Registrar shall in turn, after a notice to the BRLM, the Company, forthwith but not later than one Working Day, ensure the transfer of amounts held in the Public Issue Account into the Refund Account in accordance with the Applicable Law and as per the modes specified in the Red Xxxxxxx Prospectus and the Prospectus. The Refund Account Bank shall refund such amounts as described in Schedule X, within (1) one Working Day of the transfer of such amount to the Refund Account to all the Beneficiaries in accordance with the Applicable Law as per the modes specified in the Red Xxxxxxx Prospectus and the Prospectus. All refunds under this Agreement shall be payable by the Refund Account Bank and until such refunds are paid as agreed herein, the monies lying in the Refund Account shall be held for the benefit of and in trust for the Beneficiaries without any right or lien thereon.
Sample 1
Failure of the Issue after the Designated Date. 3.2.2.1 After the funds (including funds received from ASBA Bidders and Anchor Investors) are transferred to the Public Issue Account, in the event that the listing of the Equity Shares does not occur in the manner described in the Issue Documents, SEBI ICDR Regulations or any other Applicable Laws, the BRLM shall intimate the Public Issue Account Bank, Refund Bank and the Registrar in writing to transfer amount from the Public Issue Account to the refund account, in the form specified in Schedule IX, hereto (with a copy to the Company). On receipt of intimation from the BRLM of the failure of the Issue as per Clause 3.2.1.2, the Registrar shall forthwith, but not later than 1 (one) Working Day, following the reconciliation of accounts with the Escrow Collection Bank or Public Issue Account Bank, as applicable, (which shall be completed within 1 (one) Working Day after the receipt of intimation of failure of the Issue) provide to Public Issue Account Bank, the Refund Bank, the Sponsor Banks, the SCSBs, with a copy to the Company and the BRLM, a list of Beneficiaries and a list of Bidders (other than Anchor Investors), amounts to be refunded by the Refund Bank to such Beneficiaries (in the form specified in Schedule II, hereto). The Public Issue Account Bank shall, and the Registrar shall ensure that the Public Issue Account Bank shall, after a notice to the BRLM (with a copy to the Company), not later than 1 (one) Working Day from the date of the receipt of the list of Beneficiaries and the amounts to be refunded thereto, transfer the amount held in the Public Issue Account to the Refund Account. Thereafter, the Refund Bank shall on the same Working Day, ensure the refund of amounts held in the Refund Account to the Bidders in accordance with the Applicable Law and Clause 3.2.4 as per the modes specified in the Red Xxxxxxx Prospectus and the Prospectus. All refunds under this Agreement shall be payable by the Refund Bank and until such refunds are paid as agreed herein, the monies lying the Refund Account shall be held for the benefit of the Bidders without any right or lien thereon.
Sample 1

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