Common use of Holding Proceeds of Rights Offering Clause in Contracts

Holding Proceeds of Rights Offering. A. All proceeds received by the Subscription Agent from Rights Holders in respect of the exercise of Rights pursuant to the Basic Subscription [and the Over-Subscription Privilege] shall be held by the Subscription Agent on behalf of the Company in a segregated account (the “Account”). Interest shall accrue for the benefit of the Company at and not for the benefit of the Subscription Agent or any Rights Holders, on funds held in the Account pending disbursement in the manner described in Section 4 above. B. The Subscription Agent shall deliver all proceeds received in respect of the exercise of Rights, other than those to be refunded to exercising Rights Holders pursuant to Section 4 above, to the Company as promptly as practicable, but in no event later than one Business Day after the Confirmation Date. C. The Company acknowledges that the bank accounts maintained by in connection with the services provided under this Agreement shall be in its name, in a segregated account and held in trust for the benefit of the Company.

Holding Proceeds of Rights Offering. A. All proceeds received by the Subscription Agent from Rights Holders in respect of the exercise of Rights pursuant to the Basic Subscription [and the Over-Subscription Privilege] Privilege shall be held by the Subscription Agent Agent, on behalf of the Company Company, in a segregated account (the “"Account”"). Interest shall accrue for the benefit of the Company at [ • ] and not for the benefit of the Subscription Agent or any Rights Holders, on funds held in the Account pending disbursement in the manner described in Section 4 above. B. The Subscription Agent shall deliver all proceeds received in respect of the exercise of Rights, other than those to be refunded to exercising Rights Holders pursuant to Section 4 above, to the Company as promptly as practicable, but in no event later than one Business Day after the Confirmation Date. C. The Company acknowledges that the bank accounts maintained by Computershare in connection with the services provided under this Agreement shall will be in its name, in a segregated account and held in trust for the benefit of the Company.

Holding Proceeds of Rights Offering. A. All proceeds received by the Subscription Agent from Rights Holders in respect of the exercise of Rights pursuant to the Basic Subscription [and the Over-Subscription Privilege] shall be held by the Subscription Agent on behalf of the Company in a segregated account (the “Account”). Interest shall accrue for the benefit of the Company at [____] and not for the benefit of the Subscription Agent or any Rights Holders, on funds held in the Account [pending any disbursement in the manner described in required pursuant to Section 4 above]. B. The Subscription Agent shall deliver all proceeds received in respect of the exercise of Rights[, other than those to be refunded to exercising Rights Holders pursuant to Section 4 above, ,] to the Company as promptly as practicable, but in no event later than one Business Day after the Confirmation Date. C. The Company Subscription Agent acknowledges that the bank accounts Account maintained by in connection with the services provided under this Agreement shall be in its name, in a segregated account name and held in trust for the benefit of the Company.