Initial Closing Deliveries. At the Initial Closing, the Parties shall take, or cause to be taken, the following actions: (a) each relevant member of the TEF Group and each relevant member of the PT Group shall transfer to the Company its Initial Capital Contributions; (b) the relevant member of the TEF Group and the relevant member of the PT Group shall sign a notarial deed of issuance pursuant to which the relevant Company Shares are issued to such relevant member of the TEF Group and such relevant member of the PT Group; (c) the shareholders’ register of the Company shall be duly updated to reflect the number of Company Shares held by each Group; (d) the delivery of letters or other documents evidencing the waiver of any applicable rights of first refusal which otherwise could be exercised by any Person in connection with the transfer, to the Company, of the Initial Capital Contributions; and (e) the relevant member of the TEF Group and the relevant member of the PT Group and the Company shall take all other actions and execute all other documents, certificates and requests as may reasonably be required for the timely completion of transfer to the Company of the Initial Capital Contributions.
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Samples: Subscription Agreement (Telefonica S A), Subscription Agreement (Telefonica Mobile Inc), Subscription Agreement (Telefonica S A)
Initial Closing Deliveries. At the Initial Closing, the Parties shall take, or cause to be taken, the following actions:
(a) each relevant member of the TEF Group and each relevant member of the PT Group shall transfer to the Company its Initial Capital Contributions;
(b) the relevant member of the TEF Group and the relevant member of the PT Group shall sign a notarial deed of issuance pursuant to which the relevant Company Shares are issued to such relevant member of the TEF Group and such relevant member of the PT Group;
(c) the shareholders’ ' register of the Company shall be duly updated to reflect the number of Company Shares held by each Group;
(d) the delivery of letters or other documents evidencing the waiver of any applicable rights of first refusal which otherwise could be exercised by any Person in connection with the transfer, to the Company, of the Initial Capital Contributions; and
(e) the relevant member of the TEF Group and the relevant member of the PT Group and the Company shall take all other actions and execute all other documents, certificates and requests as may reasonably be required for the timely completion of transfer to the Company of the Initial Capital Contributions.
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