{"component": "clause", "props": {"groups": [{"snippet_links": [{"key": "person-or-entity", "type": "definition", "offset": [50, 66]}, {"key": "pursuant-to", "type": "definition", "offset": [91, 102]}, {"key": "short-sales", "type": "clause", "offset": [148, 159]}, {"key": "hedging-transactions", "type": "definition", "offset": [179, 199]}, {"key": "with-respect-to", "type": "clause", "offset": [212, 227]}, {"key": "the-acquired-shares", "type": "clause", "offset": [228, 247]}, {"key": "period-from", "type": "definition", "offset": [259, 270]}, {"key": "date-of-this", "type": "clause", "offset": [275, 287]}, {"key": "subscription-agreement", "type": "clause", "offset": [288, 310]}, {"key": "the-closing", "type": "definition", "offset": [319, 330]}, {"key": "termination-of-this", "type": "clause", "offset": [348, 367]}, {"key": "notwithstanding-anything-to-the-contrary", "type": "clause", "offset": [393, 433]}, {"key": "nothing-in-this-section", "type": "clause", "offset": [452, 475]}, {"key": "engaging-in", "type": "definition", "offset": [514, 525]}, {"key": "transactions-with", "type": "clause", "offset": [534, 551]}, {"key": "other-securities", "type": "clause", "offset": [563, 579]}, {"key": "the-issuer", "type": "definition", "offset": [583, 593]}, {"key": "class-a-ordinary-shares", "type": "definition", "offset": [605, 628]}, {"key": "class-a-common-stock", "type": "clause", "offset": [632, 652]}, {"key": "open-market-purchases", "type": "definition", "offset": [665, 686]}, {"key": "put-equivalent-position", "type": "definition", "offset": [732, 755]}, {"key": "rule-16a-1", "type": "definition", "offset": [785, 795]}, {"key": "the-exchange-act", "type": "definition", "offset": [802, 818]}, {"key": "investment-adviser", "type": "definition", "offset": [929, 947]}, {"key": "the-subscriber", "type": "definition", "offset": [953, 967]}, {"key": "knowledge-of", "type": "definition", "offset": [980, 992]}, {"key": "agreement-or", "type": "definition", "offset": [1011, 1023]}, {"key": "of-subscriber", "type": "clause", "offset": [1024, 1037]}, {"key": "this-transaction", "type": "definition", "offset": [1057, 1073]}, {"key": "controlled-affiliates", "type": "clause", "offset": [1098, 1119]}, {"key": "entering-into", "type": "clause", "offset": [1144, 1157]}, {"key": "in-the-case", "type": "clause", "offset": [1221, 1232]}, {"key": "investment-bank", "type": "clause", "offset": [1273, 1288]}, {"key": "portfolio-managers", "type": "clause", "offset": [1317, 1335]}, {"key": "investment-decisions", "type": "definition", "offset": [1459, 1479]}, {"key": "the-portfolio-manager", "type": "clause", "offset": [1657, 1678]}, {"key": "decision-to-purchase", "type": "clause", "offset": [1712, 1732]}, {"key": "covered-by", "type": "definition", "offset": [1753, 1763]}], "snippet": "Subscriber hereby agrees that neither it, nor any person or entity acting on its behalf or pursuant to any understanding with it, shall execute any short sales or engage in other hedging transactions of any kind with respect to the Acquired Shares during the period from the date of this Subscription Agreement through the Closing (or such earlier termination of this Subscription Agreement). Notwithstanding anything to the contrary set forth herein, nothing in this Section 7(b) shall prohibit such persons from engaging in hedging transactions with respect to other securities of the Issuer, including Class A Ordinary Shares or Class A Common Stock acquired in open market purchases, so long as such person does not create any \u201cput equivalent position,\u201d as such term is defined in Rule 16a-1 under the Exchange Act, or short sale positions, with respect to the Acquired Shares, nor shall this Section 7(b) prohibit any other investment adviser with the Subscriber that has no knowledge of this Subscription Agreement or of Subscriber\u2019s participation in this transaction (including Subscriber\u2019s controlled affiliates and/or affiliates) from entering into any short sales or engaging in other hedging transactions; and in the case of a Subscriber that is a multi-managed investment bank or vehicle whereby separate portfolio managers or desks manage separate portions of such Subscriber\u2019s assets and the portfolio managers or desks have no knowledge of the investment decisions made by the portfolio managers or desks managing other portions of such Subscriber\u2019s assets, this Section 7(b) shall only apply with respect to the portion of assets managed by the portfolio manager or desk that made the investment decision to purchase the Acquired Shares covered by this Subscription Agreement.", "samples": [{"hash": "ahL30z1RKkM", "uri": "/contracts/ahL30z1RKkM#no-hedging", "label": "Subscription Agreement (FTAC Athena Acquisition Corp.)", "score": 30.5893230438, "published": true}, {"hash": "5NMyhP2W5By", "uri": "/contracts/5NMyhP2W5By#no-hedging", "label": "Subscription Agreement (FTAC Athena Acquisition Corp.)", "score": 30.5893230438, "published": true}], "size": 13, "hash": "78f3942a0ba88b4d395bb2d8dba1ef2e", "id": 1}, {"snippet_links": [{"key": "person-or-entity", "type": "definition", "offset": [50, 66]}, {"key": "pursuant-to", "type": "definition", "offset": [91, 102]}, {"key": "short-sales", "type": "clause", "offset": [148, 159]}, {"key": "hedging-transactions", "type": "definition", "offset": [179, 199]}, {"key": "with-respect-to", "type": "clause", "offset": [212, 227]}, {"key": "the-acquired-shares", "type": "clause", "offset": [228, 247]}, {"key": "period-from", "type": "definition", "offset": [259, 270]}, {"key": "date-of-this", "type": "clause", "offset": [275, 287]}, {"key": "subscription-agreement", "type": "clause", "offset": [288, 310]}, {"key": "the-closing", "type": "definition", "offset": [319, 330]}, {"key": "nothing-in-this-section", "type": "clause", "offset": [332, 355]}, {"key": "engaging-in", "type": "definition", "offset": [394, 405]}, {"key": "transactions-with", "type": "clause", "offset": [414, 431]}, {"key": "other-securities", "type": "clause", "offset": [443, 459]}, {"key": "the-issuer", "type": "definition", "offset": [463, 473]}, {"key": "shares-acquired", "type": "clause", "offset": [493, 508]}, {"key": "open-market-purchases", "type": "definition", "offset": [512, 533]}, {"key": "put-equivalent-position", "type": "definition", "offset": [579, 602]}, {"key": "rule-16a-1", "type": "definition", "offset": [632, 642]}, {"key": "the-exchange-act", "type": "definition", "offset": [649, 665]}, {"key": "investment-portfolios", "type": "clause", "offset": [776, 797]}, {"key": "the-subscriber", "type": "definition", "offset": [801, 815]}, {"key": "knowledge-of", "type": "definition", "offset": [829, 841]}, {"key": "agreement-or", "type": "definition", "offset": [860, 872]}, {"key": "of-subscriber", "type": "clause", "offset": [873, 886]}, {"key": "this-transaction", "type": "definition", "offset": [906, 922]}, {"key": "controlled-affiliates", "type": "clause", "offset": [947, 968]}, {"key": "entering-into", "type": "clause", "offset": [993, 1006]}], "snippet": "Subscriber hereby agrees that neither it, nor any person or entity acting on its behalf or pursuant to any understanding with it, shall execute any short sales or engage in other hedging transactions of any kind with respect to the Acquired Shares during the period from the date of this Subscription Agreement through the Closing. Nothing in this Section 7(b) shall prohibit such persons from engaging in hedging transactions with respect to other securities of the Issuer, including Class A Shares acquired in open market purchases, so long as such person does not create any \u201cput equivalent position,\u201d as such term is defined in Rule 16a-1 under the Exchange Act, or short sale positions, with respect to the Acquired Shares, nor shall this Section 7(b) prohibit any other investment portfolios of the Subscriber that have no knowledge of this Subscription Agreement or of Subscriber\u2019s participation in this transaction (including Subscriber\u2019s controlled affiliates and/or affiliates) from entering into any short sales or engaging in other hedging transactions.", "samples": [{"hash": "a84uuYEgmwU", "uri": "/contracts/a84uuYEgmwU#no-hedging", "label": "Subscription Agreement (Metromile, Inc.)", "score": 30.1129360199, "published": true}, {"hash": "bZtO3YTdhGM", "uri": "/contracts/bZtO3YTdhGM#no-hedging", "label": "Subscription Agreement (FinTech Acquisition Corp. IV)", "score": 29.9979457855, "published": true}, {"hash": "9zbA4sy4Ehe", "uri": "/contracts/9zbA4sy4Ehe#no-hedging", "label": "Subscription Agreement (Cohen & Co Inc.)", "score": 29.9130725861, "published": true}], "size": 8, "hash": "83cb25ee2048627d02445bc37b2701e9", "id": 3}, {"snippet_links": [{"key": "date-hereof", "type": "clause", "offset": [35, 46]}, {"key": "termination-of-this", "type": "clause", "offset": [80, 99]}, {"key": "subscription-agreement", "type": "clause", "offset": [100, 122]}, {"key": "person-or-entity", "type": "definition", "offset": [152, 168]}, {"key": "on-behalf-of", "type": "clause", "offset": [176, 188]}, {"key": "pursuant-to", "type": "definition", "offset": [205, 216]}, {"key": "engage-in-any", "type": "definition", "offset": [258, 271]}, {"key": "other-transactions", "type": "definition", "offset": [283, 301]}, {"key": "short-sale", "type": "clause", "offset": [354, 364]}, {"key": "sale-of", "type": "clause", "offset": [384, 391]}, {"key": "call-option", "type": "definition", "offset": [419, 430]}, {"key": "including-without-limitation", "type": "clause", "offset": [529, 557]}, {"key": "repurchase-agreements", "type": "definition", "offset": [565, 586]}, {"key": "securities-lending", "type": "clause", "offset": [591, 609]}, {"key": "to-lead", "type": "definition", "offset": [714, 721]}, {"key": "other-disposition", "type": "definition", "offset": [763, 780]}, {"key": "by-the-investor", "type": "clause", "offset": [802, 817]}, {"key": "any-other-person", "type": "definition", "offset": [821, 837]}, {"key": "each-case", "type": "definition", "offset": [843, 852]}, {"key": "to-the-extent", "type": "clause", "offset": [861, 874]}, {"key": "economic-effect", "type": "clause", "offset": [891, 906]}, {"key": "regulation-sho", "type": "definition", "offset": [967, 981]}, {"key": "the-exchange-act", "type": "definition", "offset": [988, 1004]}, {"key": "consequences-of", "type": "definition", "offset": [1023, 1038]}, {"key": "for-the-avoidance-of-doubt", "type": "clause", "offset": [1061, 1087]}, {"key": "foreign-exchange-fluctuations", "type": "clause", "offset": [1128, 1157]}, {"key": "directly-or-indirectly", "type": "clause", "offset": [1181, 1203]}, {"key": "prior-to-the-closing", "type": "clause", "offset": [1274, 1294]}, {"key": "delivery-of-securities", "type": "definition", "offset": [1400, 1422]}, {"key": "publicly-disclose", "type": "definition", "offset": [1460, 1477]}, {"key": "the-foregoing", "type": "definition", "offset": [1512, 1525]}, {"key": "section-12", "type": "definition", "offset": [1574, 1584]}, {"key": "securities-held", "type": "definition", "offset": [1635, 1650]}, {"key": "controlled-affiliates", "type": "clause", "offset": [1672, 1693]}, {"key": "securities-purchased", "type": "clause", "offset": [1816, 1836]}, {"key": "open-market", "type": "definition", "offset": [1860, 1871]}, {"key": "derivative-transactions", "type": "definition", "offset": [1932, 1955]}, {"key": "similar-instruments", "type": "definition", "offset": [1960, 1979]}], "snippet": "The Investor agrees that, from the date hereof until the Closing or the earlier termination of this Subscription Agreement, none of the Investor or any person or entity acting on behalf of the Investor or pursuant to any understanding with the Investor will engage in any hedging or other transactions or arrangements (including, without limitation, any short sale or the purchase or sale of, or entry into, any put or call option, or combination thereof, forward, swap or any other derivative transaction or similar instrument, including without limitation equity repurchase agreements and securities lending arrangements, however described or defined) designed or intended, or which could reasonably be expected to lead to or result in, a sale, loan, pledge or other disposition or transfer (whether by the Investor or any other person), in each case, solely to the extent it has the same economic effect as a \u201cshort sale\u201d (as defined in Rule 200 promulgated under Regulation SHO under the Exchange Act), of any economic consequences of ownership (excluding, for the avoidance of doubt, any consequences resulting solely from foreign exchange fluctuations), in whole or in part, directly or indirectly, physically or synthetically, of any Shares or any securities of SPAC prior to the Closing, whether any such transaction or arrangement (or instrument provided for thereunder) would be settled by delivery of securities of SPAC, in cash or otherwise, or to publicly disclose the intention to undertake any of the foregoing; provided, however, that the provisions of this Section 12 shall not apply to long sales (including sales of securities held by the Investor, its controlled affiliates or any person or entity acting on behalf of the Investor or any of its controlled affiliates prior to the date hereof and securities purchased by the Investor in the open market after the date hereof) other than those effectuated through derivative transactions and similar instruments.", "samples": [{"hash": "eTsqbXapWIB", "uri": "/contracts/eTsqbXapWIB#no-hedging", "label": "Business Combination Agreement (ESGEN Acquisition Corp)", "score": 34.2977409363, "published": true}, {"hash": "7Q21AhZ413b", "uri": "/contracts/7Q21AhZ413b#no-hedging", "label": "Business Combination Agreement (ESGEN Acquisition Corp)", "score": 34.2977409363, "published": true}, {"hash": "j5HWNDi0NYL", "uri": "/contracts/j5HWNDi0NYL#no-hedging", "label": "Subscription Agreement (ESGEN Acquisition Corp)", "score": 32.2977409363, "published": true}], "size": 12, "hash": "abe16883a876cc2eb23f2bfd16ad2942", "id": 2}, {"snippet_links": [{"key": "controlled-affiliates", "type": "clause", "offset": [71, 92]}, {"key": "person-or-entity", "type": "definition", "offset": [102, 118]}, {"key": "pursuant-to", "type": "definition", "offset": [197, 208]}, {"key": "short-sales", "type": "clause", "offset": [267, 278]}, {"key": "regulation-sho", "type": "definition", "offset": [308, 322]}, {"key": "the-exchange-act", "type": "definition", "offset": [329, 345]}, {"key": "put-equivalent-position", "type": "definition", "offset": [374, 397]}, {"key": "hedging-transactions", "type": "definition", "offset": [482, 502]}, {"key": "with-respect-to", "type": "clause", "offset": [515, 530]}, {"key": "the-purchased-shares", "type": "clause", "offset": [531, 551]}, {"key": "period-from", "type": "definition", "offset": [563, 574]}, {"key": "calendar-days", "type": "definition", "offset": [604, 617]}, {"key": "prior-to-the", "type": "clause", "offset": [630, 642]}, {"key": "date-hereof", "type": "clause", "offset": [643, 654]}, {"key": "the-closing", "type": "definition", "offset": [663, 674]}, {"key": "this-purchase-agreement", "type": "clause", "offset": [707, 730]}, {"key": "nothing-in-this-section-7", "type": "clause", "offset": [733, 758]}, {"key": "investment-portfolios", "type": "clause", "offset": [784, 805]}, {"key": "knowledge-of", "type": "definition", "offset": [835, 847]}, {"key": "agreement-or", "type": "definition", "offset": [862, 874]}, {"key": "transactions-contemplated", "type": "clause", "offset": [914, 939]}, {"key": "by-the-investor", "type": "clause", "offset": [994, 1009]}, {"key": "entering-into", "type": "clause", "offset": [1113, 1126]}, {"key": "engaging-in", "type": "definition", "offset": [1146, 1157]}, {"key": "investment-vehicle", "type": "definition", "offset": [1225, 1243]}, {"key": "portfolio-managers", "type": "clause", "offset": [1262, 1280]}, {"key": "investment-decisions", "type": "definition", "offset": [1384, 1404]}, {"key": "each-case", "type": "definition", "offset": [1495, 1504]}, {"key": "the-assets", "type": "clause", "offset": [1569, 1579]}, {"key": "the-portfolio-manager", "type": "clause", "offset": [1591, 1612]}, {"key": "decision-to-purchase", "type": "clause", "offset": [1638, 1658]}, {"key": "shares-to-be-issued", "type": "clause", "offset": [1673, 1692]}], "snippet": "The Investor hereby agrees that neither he, she or it, his, her or its controlled affiliates, nor any person or entity acting on his, her or its or his, her or its controlled affiliates\u2019 behalf or pursuant to any understanding with him, her or it, shall execute any \u201cshort sales\u201d (as such term is defined in Regulation SHO under the Exchange Act, 17 CFR 242.200(a)) or any \u201cput equivalent position\u201d as such term is defined in Rule 16a-1(h) under the Exchange Act or engage in other hedging transactions of any kind with respect to the Purchased Shares during the period from the date that is thirty (30) calendar days immediately prior to the date hereof through the Closing (or such earlier termination of this Purchase Agreement). Nothing in this Section 7 shall prohibit any other investment portfolios of the Investor that have no knowledge of this Purchase Agreement or of the Investor\u2019s participation in the transactions contemplated by this Purchase Agreement and have not been informed by the Investor of the transactions contemplated by this Purchase Agreement (including the Investor\u2019s affiliates) from entering into any short sales or engaging in other hedging transactions and, if the Investor is a multi-managed investment vehicle, whereby separate portfolio managers manage separate portions of the Investor\u2019s assets, and the portfolio managers have no knowledge of the investment decisions made by the portfolio managers managing other portions of the Investor\u2019s assets, then, in each case, this Section 7 shall only apply with respect to the portion of the assets managed by the portfolio manager that made the investment decision to purchase the Purchased Shares to be issued pursuant to this Purchase Agreement.", "samples": [{"hash": "9evesrcPg5Q", "uri": "/contracts/9evesrcPg5Q#no-hedging", "label": "Purchase Agreement (Affinity Partners GP LP)", "score": 34.3429145813, "published": true}, {"hash": "jAPamVPSlzZ", "uri": "/contracts/jAPamVPSlzZ#no-hedging", "label": "Purchase Agreement (QXO, Inc.)", "score": 34.2060241699, "published": true}, {"hash": "6kj3BWnLcz1", "uri": "/contracts/6kj3BWnLcz1#no-hedging", "label": "Purchase Agreement (QXO, Inc.)", "score": 33.5544166565, "published": true}], "size": 6, "hash": "841c4388cb26474950fd77364d52ce0d", "id": 9}, {"snippet_links": [{"key": "the-investor", "type": "definition", "offset": [0, 12]}, {"key": "not-established", "type": "definition", "offset": [17, 32]}, {"key": "the-common-stock", "type": "clause", "offset": [64, 80]}, {"key": "the-closing-date", "type": "clause", "offset": [104, 120]}, {"key": "to-lead", "type": "definition", "offset": [174, 181]}, {"key": "the-common-shares", "type": "clause", "offset": [210, 227]}, {"key": "for-purposes-hereof", "type": "definition", "offset": [229, 248]}, {"key": "short-sale", "type": "clause", "offset": [306, 316]}, {"key": "in-effect", "type": "definition", "offset": [327, 336]}, {"key": "short-position", "type": "definition", "offset": [341, 355]}, {"key": "grant-of", "type": "definition", "offset": [381, 389]}, {"key": "put-option", "type": "definition", "offset": [394, 404]}, {"key": "call-option", "type": "definition", "offset": [406, 417]}, {"key": "forward-contract", "type": "definition", "offset": [429, 445]}, {"key": "with-respect-to", "type": "clause", "offset": [446, 461]}, {"key": "common-stock-of-the-company", "type": "clause", "offset": [466, 493]}, {"key": "market-basket", "type": "definition", "offset": [552, 565]}, {"key": "relates-to", "type": "definition", "offset": [591, 601]}, {"key": "significant-part", "type": "definition", "offset": [617, 633]}], "snippet": "The Investor has not established any hedge or other position in the Common Stock that is outstanding on the Closing Date which is designed to or could reasonably be expected to lead to or result in any sale of the Common Shares. For purposes hereof, a \u201chedge or other position\u201d would include effecting any short sale or having in effect any short position or any purchase, sale or grant of any put option, call option or prepaid forward contract with respect to the Common Stock of the Company or with respect to any security (other than a broad-based market basket or index) that includes, relates to or derives any significant part of its value from the Common Stock.", "samples": [{"hash": "jWkcaEE6QFS", "uri": "/contracts/jWkcaEE6QFS#no-hedging", "label": "Securities Purchase Agreement (Internet America Inc)", "score": 21.0, "published": true}, {"hash": "hDjK5an9WQS", "uri": "/contracts/hDjK5an9WQS#no-hedging", "label": "Securities Purchase Agreement (Perficient Inc)", "score": 21.0, "published": true}, {"hash": "gTA7yiOheXv", "uri": "/contracts/gTA7yiOheXv#no-hedging", "label": "Securities Purchase Agreement (Mihaylo Steven G)", "score": 21.0, "published": true}], "size": 8, "hash": "7b5b48207c5dc165255f857f4fd1e64e", "id": 4}, {"snippet_links": [{"key": "date-of-this", "type": "clause", "offset": [37, 49]}, {"key": "subscription-agreement", "type": "clause", "offset": [50, 72]}, {"key": "the-closing-date", "type": "clause", "offset": [79, 95]}, {"key": "termination-of-this", "type": "clause", "offset": [111, 130]}, {"key": "person-or-entity", "type": "definition", "offset": [185, 201]}, {"key": "on-behalf-of", "type": "clause", "offset": [209, 221]}, {"key": "pursuant-to", "type": "definition", "offset": [240, 251]}, {"key": "engage-in-any", "type": "definition", "offset": [295, 308]}, {"key": "other-transactions", "type": "definition", "offset": [320, 338]}, {"key": "short-sale", "type": "clause", "offset": [391, 401]}, {"key": "sale-of", "type": "clause", "offset": [421, 428]}, {"key": "call-option", "type": "definition", "offset": [456, 467]}, {"key": "derivative-transaction", "type": "definition", "offset": [520, 542]}, {"key": "including-without-limitation", "type": "clause", "offset": [566, 594]}, {"key": "repurchase-agreements", "type": "definition", "offset": [602, 623]}, {"key": "securities-lending", "type": "clause", "offset": [628, 646]}, {"key": "to-lead", "type": "definition", "offset": [751, 758]}, {"key": "other-disposition", "type": "definition", "offset": [800, 817]}, {"key": "by-the-subscriber", "type": "clause", "offset": [839, 856]}, {"key": "any-other-person", "type": "definition", "offset": [860, 876]}, {"key": "each-case", "type": "definition", "offset": [882, 891]}, {"key": "to-the-extent", "type": "clause", "offset": [900, 913]}, {"key": "economic-effect", "type": "clause", "offset": [930, 945]}, {"key": "regulation-sho", "type": "definition", "offset": [1006, 1020]}, {"key": "the-exchange-act", "type": "definition", "offset": [1027, 1043]}, {"key": "consequences-of", "type": "definition", "offset": [1062, 1077]}, {"key": "for-the-avoidance-of-doubt", "type": "clause", "offset": [1100, 1126]}, {"key": "foreign-exchange-fluctuations", "type": "clause", "offset": [1167, 1196]}, {"key": "directly-or-indirectly", "type": "clause", "offset": [1220, 1242]}, {"key": "equity-securities-of-the-company", "type": "clause", "offset": [1386, 1418]}, {"key": "prior-to-the-closing", "type": "clause", "offset": [1419, 1439]}, {"key": "delivery-of", "type": "clause", "offset": [1545, 1556]}, {"key": "publicly-disclose", "type": "definition", "offset": [1619, 1636]}, {"key": "provisions-of-this-section", "type": "clause", "offset": [1714, 1740]}, {"key": "securities-held", "type": "definition", "offset": [1794, 1809]}, {"key": "controlled-affiliates", "type": "clause", "offset": [1833, 1854]}, {"key": "of-subscriber", "type": "clause", "offset": [1896, 1909]}, {"key": "securities-purchased", "type": "clause", "offset": [1999, 2019]}, {"key": "open-market", "type": "definition", "offset": [2045, 2056]}, {"key": "notwithstanding-the-foregoing", "type": "clause", "offset": [2105, 2134]}, {"key": "nothing-in-this-section-11", "type": "clause", "offset": [2136, 2162]}, {"key": "entering-into", "type": "clause", "offset": [2244, 2257]}, {"key": "the-transactions", "type": "clause", "offset": [2265, 2281]}, {"key": "in-the-case", "type": "clause", "offset": [2342, 2353]}, {"key": "investment-vehicle", "type": "definition", "offset": [2394, 2412]}, {"key": "portfolio-managers", "type": "clause", "offset": [2430, 2448]}, {"key": "with-respect-to", "type": "clause", "offset": [2587, 2602]}, {"key": "the-portfolio-manager", "type": "clause", "offset": [2636, 2657]}, {"key": "decision-to-purchase", "type": "clause", "offset": [2683, 2703]}, {"key": "covered-by", "type": "definition", "offset": [2724, 2734]}], "snippet": "The Subscriber agrees that, from the date of this Subscription Agreement until the Closing Date or the earlier termination of this Subscription Agreement, none of the Subscriber or any person or entity acting on behalf of the Subscriber or pursuant to any understanding with the Subscriber will engage in any hedging or other transactions or arrangements (including, without limitation, any short sale or the purchase or sale of, or entry into, any put or call option, or combination thereof, forward, swap or any other derivative transaction or similar instrument, including without limitation equity repurchase agreements and securities lending arrangements, however described or defined) designed or intended, or which could reasonably be expected to lead to or result in, a sale, loan, pledge or other disposition or transfer (whether by the Subscriber or any other person), in each case, solely to the extent it has the same economic effect as a \u201cshort sale\u201d (as defined in Rule 200 promulgated under Regulation SHO under the Exchange Act), of any economic consequences of ownership (excluding, for the avoidance of doubt, any consequences resulting solely from foreign exchange fluctuations), in whole or in part, directly or indirectly, physically or synthetically, of any Acquired Shares, any equity securities of IIAC or any instrument exchangeable for or convertible into any equity securities of the Company prior to the Closing, whether any such transaction or arrangement (or instrument provided for thereunder) would be settled by delivery of equity securities of the Company, in cash or otherwise, or to publicly disclose the intention to undertake any of the foregoing; provided, however, that the provisions of this Section 11 shall not apply to long sales (including sales of securities held by the Subscriber, its controlled affiliates or any person or entity acting on behalf of Subscriber or any of its controlled affiliates prior to the date of this Subscription Agreement and securities purchased by the Subscriber in the open market after the date of this Subscription Agreement). Notwithstanding the foregoing, nothing in this Section 11 (i) shall prohibit any entities under common management with the Subscriber from entering into any of the transactions set forth in the first sentence of this Section 11 and (ii) in the case of a Subscriber that is a multi-managed investment vehicle whereby separate portfolio managers manage separate portions of such Subscriber\u2019s assets, the restriction set forth in the first sentence of this Section 11 shall only apply with respect to the portion of assets managed by the portfolio manager that made the investment decision to purchase the Acquired Shares covered by this Subscription Agreement.", "samples": [{"hash": "4H9xi1kCNCE", "uri": "/contracts/4H9xi1kCNCE#no-hedging", "label": "Redemption Offset Agreement (Ermenegildo Zegna N.V.)", "score": 32.9753608704, "published": true}, {"hash": "9huvs2GXOob", "uri": "/contracts/9huvs2GXOob#no-hedging", "label": "Redemption Offset Agreement (Investindustrial Acquisition Corp.)", 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[277, 291]}], "snippet": "Neither the Purchaser nor any of its affiliates will, directly or indirectly hold or maintain any short position in or engage in hedging transactions with respect to the common stock of the Company or any other securities of the Company, other than in accordance with the U.S. Securities Act.", "samples": [{"hash": "4hpF5RZzqWG", "uri": "/contracts/4hpF5RZzqWG#no-hedging", "label": "Common Stock Purchase Agreement (AntriaBio, Inc.)", "score": 28.175907135, "published": true}, {"hash": "deZEDm5vZEh", "uri": "/contracts/deZEDm5vZEh#no-hedging", "label": "Purchase Agreement (AntriaBio, Inc.)", "score": 27.491443634, "published": true}, {"hash": "jbSkNmjQArH", "uri": "/contracts/jbSkNmjQArH#no-hedging", "label": "Purchase Agreement for Shares of Series Aa Preferred Stock (Rezolute, Inc.)", "score": 26.1197814941, "published": true}], "size": 6, "hash": "e7d139c14a26864dac17bfba4bcdf5b9", "id": 7}, {"snippet_links": [{"key": "during-the-employment-period", "type": "clause", "offset": [0, 28]}, {"key": "financial-risk", "type": "clause", "offset": [81, 95]}, {"key": "with-respect-to", "type": "clause", "offset": [96, 111]}, {"key": "the-options", "type": "clause", "offset": [112, 123]}, {"key": "including-without-limitation", "type": "clause", "offset": [170, 198]}, {"key": "other-techniques", "type": "clause", "offset": [218, 234]}], "snippet": "During the Employment Period, Executive will not in any way attempt to limit the financial risk with respect to the Options which are not vested by means of any hedging (including without limitation, selling short) or other techniques.", "samples": [{"hash": "lwPeRjdTz3c", "uri": "/contracts/lwPeRjdTz3c#no-hedging", "label": "Employment Agreement (New Plan Excel Realty Trust Inc)", "score": 19.0, "published": true}, {"hash": "babM3bkUNev", "uri": "/contracts/babM3bkUNev#no-hedging", "label": "Employment Agreement (New Plan Excel Realty Trust Inc)", "score": 19.0, "published": true}, {"hash": 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COFACE Agent, enter into any Hedging Agreement.\n(b) Hedging Agreements shall not be entered into with any parties other than the Original Lenders.", "samples": [{"hash": "fj9ddwRj1jE", "uri": "/contracts/fj9ddwRj1jE#no-hedging", "label": "Coface Facility Agreement (Globalstar, Inc.)", "score": 24.6386032104, "published": true}, {"hash": "7qVul9sSSWv", "uri": "/contracts/7qVul9sSSWv#no-hedging", "label": "Coface Facility Agreement (Globalstar, Inc.)", "score": 19.8569469452, "published": true}, {"hash": "9sE3oMqh8VL", "uri": "/contracts/9sE3oMqh8VL#no-hedging", "label": "Facility Agreement (Globalstar, Inc.)", "score": 19.0, "published": true}], "size": 6, "hash": "3245d7b3392706b6ba6d7ba54a01b89e", "id": 10}], "next_curs": "ClMSTWoVc35sYXdpbnNpZGVyY29udHJhY3Rzci8LEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhNuby1oZWRnaW5nIzAwMDAwMDBhDKIBAmVuGAAgAA==", "clause": {"title": "No Hedging", "size": 175, "parents": [["additional-agreements-and-waivers-of-subscriber", "Additional Agreements and Waivers of Subscriber"], ["compensation-and-related-matters", "Compensation and Related Matters"], ["representations-and-warranties-of-investors", "REPRESENTATIONS AND WARRANTIES OF INVESTORS"], ["miscellaneous", "Miscellaneous"], ["covenants", "Covenants"]], "children": [["", ""], ["notices", "Notices"], ["expenses", "Expenses"], ["specific-performance-remedy", "Specific Performance Remedy"], ["indemnification-of-seller", "Indemnification of Seller"]], "id": "no-hedging", "related": [["hedging", "Hedging", "Hedging"], ["interest-rate-hedging", "Interest Rate Hedging", "Interest Rate Hedging"], ["netting", "Netting", "Netting"], ["contractual", "Contractual", "Contractual"], ["hedging-contracts", "Hedging Contracts", "Hedging Contracts"]], "related_snippets": [], "updated": "2026-03-26T04:21:01+00:00", "also_ask": ["What are the most effective carve-outs to negotiate in a No Hedging clause?", "Which specific activities must be clearly defined to avoid ambiguity in No Hedging provisions?", "What are the most common legal pitfalls that render No Hedging clauses unenforceable?", "How do No Hedging clauses differ across major jurisdictions or industry sectors?", "What evidentiary standards do courts apply when assessing alleged breaches of No Hedging clauses?"], "drafting_tip": "Prohibit all hedging activities to prevent circumvention of contractual obligations; specify covered instruments to avoid ambiguity; define exceptions, if any, to ensure enforceability.", "explanation": "The No Hedging clause prohibits a party from engaging in hedging activities related to the subject matter of the agreement. In practice, this means that a party cannot enter into financial transactions, such as derivatives or offsetting contracts, that would reduce or eliminate their exposure to the risks or obligations specified in the contract. This clause ensures that each party remains fully exposed to the intended risks and benefits of the agreement, preventing them from undermining the contract's economic purpose through external risk management strategies."}, "json": true, "cursor": ""}}