Form and Execution of Subscription Certificates. (a) Each Subscription Certificate shall be irrevocable and non-transferable. The Agent shall, in its capacity as Transfer Agent of the Fund, maintain a register of Subscription Certificates 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 Certificates). Each Subscription Certificate shall, subject to the provisions thereof, entitle the Shareholder in whose name it is recorded to the following:
(1) With respect to Record Date Shareholders only, the right to acquire during the Subscription Period, as defined in the Prospectus, at the Subscription Price, as defined in the Prospectus, a number of shares of Shares equal to one share of Shares for every one Right (the "Primary Subscription Right"); and
(2) With respect to Record Date Shareholders only, the right to subscribe for additional Shares, subject to the availability of such Shares and to the allotment of such Shares as may be available among Record Date Shareholders who exercise Over-Subscription Rights on the basis specified in the Prospectus; provided, however, that such Record Date Shareholder has exercised all Primary Subscription Rights issued to him or her (the "Over-Subscription Privilege").
Form and Execution of Subscription Certificates. Each Subscription Certificate shall be irrevocable and transferable upon the terms and conditions set forth in the Prospectus. The Subscription Agent shall maintain a register of Subscription Certificates and of the Rights Holders.
Form and Execution of Subscription Certificates. A. Each Subscription Certificate shall be irrevocable and transferable. The Agent shall, in its capacity as Transfer Agent of the Fund, maintain a register of Subscription Certificates 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 Certificates). Each Subscription Certificate shall, subject to the provisions thereof, entitle each Shareholder in whose name it is recorded, and each transferee who purchases or otherwise receives a Subscription Certificate upon the terms set forth in the Prospectus, to the following:
(1) The right to acquire during the Subscription Period, as defined in the Prospectus Supplement to be filed with the SEC (“the Prospectus Supplement”), at the Subscription Price, as defined in the Prospectus Supplement, one transfer subscription right will be issued for each common share of the Fund held on record date. Three subscription rights (“Rights”) will be required to purchase one common share and one preferred share; and
(2) Solely with respect to Shareholders exercising all Rights received in the initial offering, the right to subscribe for additional common shares and preferred shares, subject to the availability of such shares and to the allotment of such shares as may be available among Shareholders who exercise Over-Subscription Privileges on the basis specified in the Prospectus Supplement; provided, however, that such Shareholder or transferee has exercised all Basic Subscription Rights issued to him or her (the “Over-Subscription Privilege”).
Form and Execution of Subscription Certificates. A. Each Subscription Certificate shall be irrevocable and non-transferable. The Agent shall, in its capacity as Transfer Agent of the Company, maintain a register of Subscription Certificates 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 Certificates). Each Subscription Certificate shall, subject to the provisions thereof, entitle the Shareholder in whose name it is recorded to the following only if non-transferable:
(1) With respect to Record Date Shareholders only, the right to acquire during the Subscription Period, as defined in the Prospectus, at the Subscription Price, as defined in the Prospectus, a number of shares of Common Stock equal to one share of Common Stock for every one Right (the “Primary Subscription Right”); and
(2) With respect to Record Date Shareholders only, the right to subscribe for additional shares of Common Stock, subject to the availability of such shares and to the allotment of such shares as may be available among Record Date Shareholders who exercise Over-Subscription Rights on the basis specified in the Prospectus; provided, however, that such Record Date Shareholder has exercised all Primary Subscription Rights issued to him or her (the “Over-Subscription Privilege”).
B. Create a special account for the issuance of shares of Common Stock to shareholders who have exercised the rights set forth herein. Prior to the issuance of Common Stock as set forth herein, the Company shall provide an opinion of counsel to set up reserve of shares. The opinion shall state that all shares are:
(1) Registered, or subject to a valid exemption from registration, under the Securities Act of 1933, as amended, and that they are “covered securities” under Section 18 of the Securities Act; and
(2) Validly issued, fully paid and non-assessable.
Form and Execution of Subscription Certificates. A. Each Subscription Certificate shall be irrevocable and non-transferable as set forth in the section of the Prospectus entitled “The Offer.” The Agent shall maintain a register of Subscription Certificates and the Record Date Stockholders and create a special account for the issuance of shares of Common Stock to Record Date Stockholders who have exercised the Rights.
B. Prior to the issuance of Common Stock as set forth herein, the Company shall provide an opinion of counsel to set up reserve of shares of Common Stock. The opinion shall state that all shares of Common Stock are:
(1) Registered, or subject to a valid exemption from registration, under the Securities Act of 1933, as amended, and all appropriate state securities law filings have been made with respect to the shares; and
(2) Validly issued, fully paid and non assessable.
Form and Execution of Subscription Certificates. A. Each Subscription Certificate shall be irrevocable. The Agent shall maintain a register of Subscription Certificates 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 Certificates). Each Subscription Certificate shall, subject to the provisions thereof, entitle the Shareholder in whose name it is recorded to the following:
(1) The right to acquire during the Subscription Period, as defined in the Prospectus, at the Subscription Price, as defined in the Prospectus, a number of Preferred Shares equal to one Preferred Share for every ten Rights (the "Primary Subscription Right"); and
(2) The right to subscribe for additional Preferred Shares, subject to the availability of such shares and to the allotment of such shares as may be available among Rights holders who exercise Over-Subscription Rights on the basis specified in the Prospectus; (the "Over-Subscription Privilege").
Form and Execution of Subscription Certificates. The certificates or other evidences of subscription rights, in the form designated by the Company (the "Subscription Certificates"), shall be irrevocable and non-transferable. The Agent shall, in its capacity as Transfer Agent of the Company, maintain a register of Subscription Certificates and the holders of record thereof (each of whom shall be deemed a "Stockholder" hereunder for purposes of determining the rights of holders of Subscription Certificates). Each Subscription Certificate shall, subject to the provisions thereof, entitle the Stockholder in whose name it is recorded to subscribe during the subscription period set forth in the Prospectus, upon payment of the subscription price set forth in the Prospectus, (i) for shares of Common Stock at the rate of one share of Common Stock for each whole Right evidenced by the Subscription Certificate (the "Basic Subscription Privilege") and (ii) for additional shares of Common Stock, subject to the availability of such shares and to the allotment of such shares as may be available on the basis specified in the Prospectus; provided, however, that such Stockholder has exercised its Basic Subscription Privilege in full (the "Oversubscription Privilege").
Form and Execution of Subscription Certificates. (a) Each Subscription Certificate shall be irrevocable and non-transferable. The Agent shall, in its capacity as transfer agent of the Company, maintain a register of Subscription Certificates and the holders of record thereof (each of whom shall be deemed a "Holder" hereunder for purposes of determining the rights of holders of Subscription Certificates). Each Subscription Certificate shall, subject to the provisions thereof, entitle the Holder in whose name it is recorded to the following:
(1) The right to acquire for on or prior to the expiration date as set forth in the Prospectus (the "Expiration Date"), at Subscription Price a number of shares of Common Stock equal to such Holder's Basic Subscription Privilege; and
(2) The right to subscribe for additional shares of Common Stock, subject to the availability of such shares and to the allotment of such shares as may be available among Holders who exercise their Over-subscription Privilege on the basis specified in the Prospectus; provided, however, that such Holder has exercised the Basic Subscription Privilege.
Form and Execution of Subscription Certificates. (a) Each Subscription Certificate shall be irrevocable and non- transferable. The Agent shall, in its capacity as Transfer Agent of the Fund, maintain a register of Subscription Certificates and the Record Date Stockholders. Each Subscription Certificate shall, subject to the provisions thereof, entitle the Stockholder in whose name it is recorded to the following:
(1) With respect to Record Date Stockholders only, the right to acquire during the Subscription Period, as defined in the Prospectus, at the Subscription Price, as defined in the Prospectus, a number of shares of Common Stock equal to one share of Common Stock for every six Rights held (the "Primary Subscription Right"); and
(2) With respect to Record Date Stockholders only, the right to subscribe for additional shares of Common Stock, subject to the availability of such shares and to the allotment of such shares as may be available among Record Date Stockholders who exercise Over-Subscription Rights on the basis specified in the Prospectus; provided, however, that such Record Date Stockholder has exercised all Primary Subscription Rights issued to him or her (the "Over-Subscription Privilege"). Fractional Shares will not be issued upon the exercise of Rights.
Form and Execution of Subscription Certificates. (a) Each Subscription Certificate shall be irrevocable and fully transferable. The Agent shall, in its capacity as Transfer Agent of the Partnership, maintain a register of Subscription Certificates and the holders of record thereof (each of whom shall be deemed a "Unitholder" hereunder for purposes of determining the rights of holders of Subscription Certificates). Each Subscription Certificate shall, subject to the provisions thereof, entitle the Unitholder in whose name it is recorded to the following:
(1) The right to acquire during the Subscription Period, as defined in the Prospectus, at the Subscription Price, four Depositary Units and one Preferred Unit for each Right (the "Basic Subscription Right"); and
(2) If all Basic Subscription Rights are not exercised, the right to subscribe for additional Depositary Units and Preferred Units, at the Subscription Price and as a unit consisting of four Depositary Units and one Preferred Unit, subject to the availability of such Depositary Units and Preferred Units and to the allotment of such units as may be available among Unitholders who exercise their Over- Subscription Privilege on the basis specified in the Prospectus (the "Over-Subscription Privilege").
