Common use of Prior to or on the Designated Date Clause in Contracts

Prior to or on the Designated Date. (a) The Escrow Collection Bank shall, upon receipt of an intimation from the Managers in writing in accordance with Clause 3.2.1.2 or 3.2.2 of this Agreement, after notice to the Company and the Selling Shareholders forthwith but not later than 1 (one) Working Day from the date of receipt of such notice, ensure the transfer of any amounts standing to the credit of the Escrow Accounts to the Refund Account (as set out in Schedule IX hereto); (b) The Refund Bank shall, upon receipt of an intimation from the Managers in writing in accordance with Clause 3.2.3 of this Agreement, after notice to the Company, the Selling Shareholders and the Registrar to the Offer, forthwith but not later than 1 (one) Working Day from the date of transfer of amounts from the Escrow Accounts, ensure the transfer of any amounts standing to the credit of the Refund Account to the Beneficiaries as directed by the Managers in the prescribed form (as set out in Schedule II hereto); (c) On receipt of the intimation of failure of the Offer from the Managers as per Clause 3.

Appears in 1 contract

Samples: Cash Escrow and Sponsor Bank Agreement

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Prior to or on the Designated Date. (a) The Escrow Collection Bank shall, upon receipt of an intimation from the Lead Managers in writing in accordance with Clause 3.2.1.2 or 3.2.2 of this Agreement, after notice to the Company and the Selling Shareholders forthwith but not later than 1 (one) the same Working Day from the date of receipt of such notice, ensure the transfer of any amounts Surplus Amount standing to the credit of the Escrow Accounts to the Refund Account (as set out in Schedule IX IVA hereto); (b) The Refund Bank shall, upon receipt of an intimation from the Lead Managers in writing in accordance with Clause 3.2.3 of this Agreement, after notice to the Company, the Selling Shareholders and the Registrar to the OfferRegistrar, forthwith but not later than 1 (one) the same Working Day from the date of transfer of amounts from the Escrow Accounts, ensure the transfer of any amounts standing to the credit of the Refund Account to the Beneficiaries as directed by the Lead Managers in the prescribed form (as set out in Schedule II hereto); (c) On receipt of the intimation of failure of the Offer from the Lead Managers as per Clause 3.

Appears in 1 contract

Samples: Cash Escrow and Sponsor Bank Agreement

Prior to or on the Designated Date. (a) The Escrow Collection Bank shall, upon receipt of an intimation from the Managers in writing in accordance with Clause 3.2.1.2 or 3.2.2 of this Agreement, after notice to the Company and the Selling Shareholders forthwith but not later than 1 (one) Working Day from the date of receipt of such notice, ensure the transfer of any amounts standing to the credit of the Escrow Accounts to the Refund Account (as set out in Schedule IX VII hereto); (b) The Refund Bank shall, upon receipt of an intimation from the Managers in writing in accordance with Clause 3.2.3 of this Agreement, after notice to the Company, the Selling Shareholders Company and the Registrar to the OfferIssue, forthwith but not later than 1 (one) Working Day from the date of transfer of amounts from the Escrow Accounts, ensure the transfer of any amounts standing to the credit of the Refund Account to the Beneficiaries as directed by the Managers in the prescribed form (as set out in Schedule II hereto); (c) On receipt of the intimation of failure of the Offer Issue from the Managers as per Clause 3.Xxxxxx

Appears in 1 contract

Samples: Cash Escrow and Sponsor Bank Agreement

Prior to or on the Designated Date. (a) The Escrow Collection Bank shall, upon receipt of an intimation from the Managers in writing in accordance with Clause 3.2.1.2 or 3.2.2 of this Agreement, after notice to the Company and the Promoter Selling Shareholders forthwith but not later than 1 (one) Working Day from the date of receipt of such notice, ensure the transfer of any amounts Surplus Amount standing to the credit of the Cash Escrow Accounts to the Refund Account (as set out in Schedule IX X hereto); (b) The Refund Bank shall, upon receipt of an intimation from the Managers in writing in accordance with Clause 3.2.3 of this Agreement, after notice to the Company, the Promoter Selling Shareholders and the Registrar to the OfferRegistrar, forthwith but not later than 1 (one) Working Day from the date of transfer of amounts from the Cash Escrow Accounts, ensure the transfer of any amounts standing to the credit of the Refund Account to the Beneficiaries as directed by the Managers in the prescribed form (as set out in Schedule II hereto); (c) On receipt of the intimation of failure of the Offer from the Managers as per Clause 3.

Appears in 1 contract

Samples: Cash Escrow and Sponsor Bank Agreement

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Prior to or on the Designated Date. (a) The Escrow Collection Bank shall, upon receipt of an intimation from the Managers Manager in writing in accordance with Clause 3.2.1.2 or 3.2.2 of this Agreement, after notice to the Company and the Selling Shareholders forthwith but not later than 1 (one) Working Day from the date of receipt of such notice, ensure the transfer of any amounts standing to the credit of the Escrow Accounts to the Refund Account (as set out in Schedule IX VII hereto); (b) The Refund Bank shall, upon receipt of an intimation from the Managers Manager in writing in accordance with Clause 3.2.3 of this Agreement, after notice to the Company, the Selling Shareholders Company and the Registrar to the OfferIssue, forthwith but not later than 1 (one) Working Day from the date of transfer of amounts from the Escrow Accounts, ensure the transfer of any amounts standing to the credit of the Refund Account to the Beneficiaries as directed by the Managers Manager in the prescribed form (as set out in Schedule II hereto); (c) On receipt of the intimation of failure of the Offer Issue from the Managers Manager as per Clause 3.Xxxxxx

Appears in 1 contract

Samples: Cash Escrow and Sponsor Bank Agreement

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