Common use of Initial Public Offerings and Private Placements of Securities Clause in Contracts

Initial Public Offerings and Private Placements of Securities. 7.1 We may, on your Instruction but subject always to the provision and/or execution of such documents and indemnities as we may require, subscribe for Securities on your behalf, pursuant to an initial public offering or private placement. Unless we agree otherwise, each such Instruction shall be irrevocable.