ISSUE AND ALLOTMENT Clause Samples
ISSUE AND ALLOTMENT. 3.1 The Advance Subscription shall automatically be applied to the Subscription for Subscription Shares at the Subscription Price (rounded down to the nearest whole share), and the Company shall issue and allot to the Subscriber (or as the Subscriber shall direct) the number of fully paid Subscription Shares to which it is entitled:
(a) in the event of a Qualifying Financing Round, as part of and simultaneously with the unconditional completion of such Qualifying Financing Round; or
(b) at the election of the Subscriber, in the event of a Financing Round which is not Qualifying Financing Round, as part of and simultaneously with the unconditional completion of such Financing Round; or
(c) in the event of a Sale or a Listing, immediately prior to the unconditional completion of such Sale or Listing; or
(d) on the Longstop Date (if none of the events set out in sub-clauses (a) to (c) have occurred on or prior to the Longstop Date); or
(e) in the event of an Insolvency occurring before any of the events set out in sub-clauses
(a) to (d) above, immediately prior to the occurrence of such Insolvency event, and (in each case) Subscription Shares so allotted and issued shall be in full satisfaction and discharge of all obligations of the Company under this agreement to the Subscriber and this agreement shall terminate automatically and immediately on completion of such issue.
ISSUE AND ALLOTMENT. Subject to the terms and conditions of this Agreement, SBN shall on Completion issue and allot, and SNMI shall on Completion subscribe for the SBN Subscription Shares from SBN, free from any and all Encumbrances together with all rights, dividends, entitlements and advantages now and hereafter attaching thereto.
ISSUE AND ALLOTMENT. (a) (Resolutions) On or before 10.00am on the Settlement Date, the Company must:
(i) procure that its board (or a sub-committee of the board, with requisite authority) resolves to issue the Placement Securities, subject to receipt of Valid Applications;
(ii) accept the Valid Applications and subscription monies received in respect of the Placement Securities for the Placement Price; and
(iii) issue Allocation Interests representing the Placement Securities.
(b) (Allotment of Placement Securities) The Company must take all necessary and appropriate steps to cause the conversion of the Allocation Interests referred to in clause 5.4(a)(iii) to CDIs and complete the allotment on the Allotment Date of all of the Placement Securities.