Issuance Decision Clause Samples
The Issuance Decision clause defines the process and authority for determining whether a particular document, security, or instrument will be formally issued. Typically, this clause outlines who within an organization has the power to make the final issuance decision, the criteria that must be met before issuance, and any procedural steps required, such as board approval or regulatory compliance. Its core practical function is to ensure that the issuance of important documents or securities is controlled, deliberate, and compliant with internal and external requirements, thereby reducing the risk of unauthorized or improper issuances.
Issuance Decision. Following the receipt of an Agent Notification provided for in Section 3(b)(iii) and no later than 3:30 pm (Eastern) on the Trading Day on which the Company wants to sell Shares, the Company shall issue a decision of the board of directors or the Chief Executive Officer of the Company in the form set forth in Exhibit B hereto (the “Issuance Decision”), acting upon delegated authority, reflecting the Company’s decision to issue the Common Shares to be represented by the Shares, allocated, and at such price, as set forth in the Agent Notification to the Company provided in Section 3(b)(iii), subject to settlement on the relevant Settlement Date, it being specified that for each issuance of Shares the equivalent in Euro of the Sales Price will be set by the board of directors or the Chief Executive Officer based upon the U.S. Dollar-Euro exchange rate, as published by the European Central Bank on that date and within the price limits set forth in the 27th resolution of the Company’s combined general shareholders’ meeting held on May 22, 2025 (or any substitute resolutions thereto adopted at a subsequent shareholders’ meeting) as applicable.
Issuance Decision. Following the receipt of an Agent Notification provided for in Section 3(b)(iii) and no later than 3:30 pm (Eastern time) on the Trading Day on which the Company wants to sell Shares, the Company shall issue a decision of the management board of the Company in the form set forth in Exhibit B hereto (the “Issuance Decision”), acting upon delegated authority, reflecting the Company’s decision to issue the Ordinary Shares to be represented by the Shares, allocated, and at such price, as set forth in the Agent Notification to the Company provided in Section 3(b)(ii), subject to settlement on the relevant Settlement Date, it being specified that for each issuance of Shares the equivalent in Euro of the Sales Price will be set by management board of the Company based upon the U.S. Dollar-Euro exchange rate, as published by the European Central Bank on that date and within the price limits set forth in the 22nd Resolution or the 26th Resolution as applicable.
Issuance Decision. Following the receipt of an Agent Notification provided for in Section 3(b)(iii) and no later than 3:30 pm (New York City time) on the Trading Day on which the Company wants to sell Shares, the Company shall issue a decision of the Board of Directors or the Chief Executive Officer of the Company or, as the case may be, of an Associate Managing Officer, in the form set forth in Exhibit B hereto (the “Issuance Decision”), acting upon delegated authority, reflecting the Company’s decision to issue the Shares, allocated, and at such price, as set forth in the Agent Notification to the Company provided in Section 3(b)(iii), subject to settlement on the relevant Settlement Date, it being specified that for each issuance of Shares the equivalent in Euro of the Sales Price will be set by the Board of Directors or the Chief Executive Officer or, as the case may be, of a an Associate Managing Officer of the Company, based upon the U.S. dollar-Euro exchange rate, as published by the European Central Bank on that date and within the price limits set forth in the 33rd resolution of the Company’s combined general shareholders’ meeting held on June 26, 2024 (or any substitute resolutions thereto adopted at a subsequent shareholders’ meeting).