Common use of Oversubscription Clause in Contracts

Oversubscription. If, after allocation of shares of Common Stock to Stockholders, there remain unexercised Rights, then the Agent shall allot the shares issuable upon exercise of such unexercised Rights (the "Remaining Shares") to stockholders who have exercised all of their Basic Subscription Privilege and who have exercised an Oversubscription Privilege. Shares subscribed for pursuant to the Oversubscription Privilege will be allocated in the amounts of such oversubscriptions if remaining sufficient shares are available. If the number of shares for which the Oversubscription Privilege has been exercised is greater than the Remaining Shares, the Agent shall allocate the Remaining Shares to Stockholders exercising Oversubscription Privileges based on the number of shares of Common Stock purchased by each of them pursuant to the Basic Subscription Privilege. The percentage of Remaining Shares each over-subscribing Stockholder may acquire will be rounded upwards or downwards, as appropriate, to result in delivery of whole shares of Common Stock. The Agent shall advise the Company immediately upon the completion of the allocation set forth above as to the total number of shares subscribed and distributable.

Appears in 2 contracts

Samples: Subscription Agent Agreement (Medis Technologies LTD), Subscription Agent Agreement (Medis Technologies LTD)

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Oversubscription. If, after allocation the exercise of shares of Common Stock to Stockholders, the Basic Subscription Privilege there remain unexercised Stockholder Rights, then the Agent shall allot the shares issuable upon exercise of such unexercised Rights (the "Remaining Excess Shares") to stockholders who have exercised all of their Basic Subscription Privilege and who have exercised an subscriptions pursuant to the Oversubscription Privilege. Shares subscribed for pursuant to the Oversubscription Privilege will be allocated in accordance with the amounts of such oversubscriptions if remaining sufficient shares are availableterms, limitations and restrictions set forth in the Prospectus. If the number of shares for which the Oversubscription Privilege has been exercised is greater than the Remaining Excess Shares, the Agent shall allocate the Remaining Excess Shares pro rata to Stockholders the Rights Holders exercising the Oversubscription Privileges Privilege based on the number of Underlying Shares subscribed for pursuant to the Basic Subscription Privilege, so that the number of shares issued to Rights Holders who subscribe pursuant to the Oversubscription Privilege will generally be in proportion to the number of shares of Common Stock purchased owned by each of them pursuant to on the Basic Subscription PrivilegeRights Record Date. The percentage number of Remaining Excess Shares each over-subscribing Stockholder Rights Holder may acquire will be rounded upwards or downwards, as appropriate, up to result in delivery of whole shares of Common Stock. The Agent shall advise the Company immediately upon the completion of the allocation set forth above as to the total number of shares subscribed and distributable.shares

Appears in 1 contract

Samples: Subscription Agent Agreement (First Commercial Bancorp Inc)

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Oversubscription. If, after allocation of shares of Common Stock to Medis Common Stockholders, there remain unexercised Rights, then the Agent shall allot the shares issuable upon exercise of such unexercised Rights (the "β€œRemaining Shares"”) to stockholders Medis Common Stockholders who have exercised all of their Basic Subscription Privilege and who have exercised an Oversubscription Privilege. Shares subscribed for pursuant to the Oversubscription Privilege will be allocated in the amounts of such oversubscriptions if remaining sufficient shares are available. If the number of shares for which the Oversubscription Privilege has been exercised is greater than the Remaining Shares, the Agent shall allocate the Remaining Shares to Medis Common Stockholders exercising Oversubscription Privileges based on the number of shares of Common Stock purchased by each of them pursuant to the Basic Subscription Privilege. The percentage of Remaining Shares each over-subscribing Stockholder stockholder may acquire will be rounded upwards or downwards, as appropriate, to result in delivery of whole shares of Common Stock. The Agent shall advise the Company immediately upon the completion of the allocation set forth above as to the total number of shares subscribed and distributable.

Appears in 1 contract

Samples: Subscription Agency Agreement (Cell Kinetics LTD)

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