Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally represents and warrants to and agrees with each of the Underwriters that: (a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder. (b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky laws and regulations of the various states in connection with the offer and sale of the Shares. (c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares. (d) The Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be brought. (e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC. (f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement. (i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto.
Appears in 3 contracts
Samples: Underwriting Agreement (IntraLinks Holdings, Inc.), Underwriting Agreement (IntraLinks Holdings, Inc.), Underwriting Agreement (IntraLinks Holdings, Inc.)
Representations and Warranties of the Selling Shareholders. Each of the Selling Shareholder Shareholders, severally and not jointly, represents and warrants to and agrees with with, each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Such Selling Shareholder.
(b) The execution , at the First Closing Date, will have good and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact marketable title to the extent Shares set forth therein and relating to the deposit of the Shares in Schedule II to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, any liens, encumbrances, equities and claims (other than as imposed by the Securities Act or other encumbrances and the legal right and powerthis Agreement), and all authorization full right, power and approval required by law, authority to enter into this Agreement effect the sale and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect delivery of such Shares.
(d) The Power ; and upon the delivery of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be brought.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, good and marketable title thereto, free and clear of any liens, encumbrances, equities and claims, of any kind, will be transferred to the Underwriters.
(b) Such Selling Shareholder has duly executed and delivered the Custody Agreement and Power of Attorney in the form previously delivered to the Representatives, appointing the persons named therein, and each of them as such Selling Shareholder's attorney-in-fact (the "Attorney-in-Fact") and as custodian (the "Custodian"). The Attorney-in-Fact is authorized to execute, deliver and perform this Agreement on behalf of such Selling Shareholder, to deliver the Shares to be sold by such Selling Shareholder hereunder, to accept payment therefor, and otherwise to act on behalf of such Selling Shareholder in connection with this Agreement, including payment from the Offering proceeds of expenses incurred on behalf of such Selling Shareholder. Certificates, in suitable form for transfer by delivery or accompanied by duly executed instruments of transfer or assignment in blank, representing the Shares to be sold by such Selling Shareholder hereunder have been deposited with the Custodian pursuant to the Custody Agreement and Power of Attorney for the purpose of delivery pursuant to this Agreement. Such Selling Shareholder agrees that the shares of Common Stock represented by the certificates on deposit with the Custodian are subject to the interest of the Underwriters hereunder, that the arrangements made for such custody and the appointment of the Attorney-in-Fact are to that extent irrevocable, and that the obligations of such Selling Shareholder hereunder shall not be terminated except as provided in this Agreement and the Custody Agreement and Power of Attorney. If such Selling Shareholder should die or become incapacitated, or if any other event should occur, before the delivery of the Shares of such SharesSelling Shareholder hereunder, as directed the certificates for such Shares deposited with the Custodian shall be delivered by the UnderwritersCustodian in accordance with the terms and conditions of this Agreement as if such death, incapacity or other event had not occurred, regardless of whether the Custodian or the Attorney-in-Fact shall have received notice thereof.
(c) Such Selling Shareholder, acting through his duly authorized Attorney-in-Fact, has duly executed and delivered this Agreement and the Custody Agreement and Power of Attorney; this Agreement constitutes a legal, valid and binding obligation of such Selling Shareholder, all authorizations and consents necessary for the execution and delivery of this Agreement and the Custody Agreement and Power of Attorney on behalf of such Selling Shareholder and for the sale and delivery of the Shares to Cede & Co. (“Cede”) or be sold by such other nominee Selling Shareholder hereunder have been given, except as may be designated required by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede Securities Act or such other nominee state securities laws; and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such paymenthas the legal capacity and full right, delivery power and crediting occur, authority to execute this Agreement and the Custody Agreement and Power of Attorney.
(xd) such Shares will have been registered in The performance of this Agreement and the name Custody Agreement and Power of Cede or another nominee designated by DTC, in each case on Attorney and the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 consummation of the UCC transactions contemplated hereby and (z) appropriate entries to the accounts thereby by such Selling Shareholder will not result in a breach or violation of, or conflict with, any of the several Underwriters on terms or provisions of, or constitute a default by such Selling Shareholder under, any indenture, mortgage, deed of trust, trust (constructive or other), loan agreement, lease, franchise, license or other agreement or instrument to which such Selling Shareholder or any of his or its properties is bound, or any statute, judgment, decree, order, rule or regulation of any court or governmental agency or body applicable to such Selling Shareholder or any of his, her or its properties.
(e) Such Selling Shareholder has not distributed nor, other than as permitted by the records Securities Act and the Rules and Regulations, will distribute any prospectus or other offering material in connection with the offer and sale of DTC will have been made pursuant to the UCCShares other than any Preliminary Prospectus filed with the Commission or the Final Prospectus or other material permitted by the Securities Act.
(f) Such Selling Shareholder has reviewed and is not prompted by any material information concerning familiar with the Company or its subsidiaries which is not set forth in Registration Statement and the Time Preliminary Prospectus. To the knowledge of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statementsuch Selling Shareholder, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Preliminary Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto.
Appears in 3 contracts
Samples: Underwriting Agreement (Amsurg Corp), Underwriting Agreement (Bankfirst Corp), Underwriting Agreement (Radio Systems Corp)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder Shareholder, severally and not jointly, represents and warrants to and agrees with each of the Underwriters Underwriter that:
(a) This Agreement has been duly authorizedauthorized (if such Selling Shareholder is not a natural person), executed and delivered by or on behalf of such Selling ShareholderShareholder and the transactions contemplated by this Agreement have been duly authorized by or on behalf of such Selling Shareholder (if such Selling Shareholder is not a natural person).
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of a corporation, limited liability company, partnership or other entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases case of clause clauses (i), (iii) and (iv) as would not, individually or in the aggregate, impair have a material adverse effect on the ability of such the Selling Shareholder Shareholders to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling ShareholderAgreement, except for (i) such consentsas may have already been obtained, approvals, authorizations, orders or qualifications (ii) such as may be required by the securities or blue sky laws and regulations of the various states in connection with the offer and sale of the SharesShares by the securities, anti-fraud or Blue Sky laws of the various states, the approval for listing of the Shares on the New York Stock Exchange and the approval of the underwriting terms and arrangements by the Financial Industry Regulatory Authority, Inc. or (iii) such that would not reasonably be expected to have a material adverse effect on the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” (within the meaning of Section 8-501 102(a)(17) of the New York Uniform Commercial Code in respect of, (the “NYUCC”)) to the Shares to be sold by such Selling Shareholder in a securities account maintained with DTC, free and clear of all security interests, any claims, liens, equities or other encumbrances and the legal right and powerencumbrances, and all authorization and approval required by law, to enter into this Agreement and assuming that the Power of Attorney and Custody Agreement and to sell, transfer and deliver Underwriter acquires its interest in the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement it has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be brought.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has purchased without notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (NYUCC), upon the “UCC”)) crediting of such Shares to the securities account of the Underwriter maintained with DTC and payment therefor by the Underwriter, as provided herein, the Underwriter will acquire a security entitlement to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares claim may be asserted against the Underwriters Underwriter with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery payment and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC NYUCC and (zy) appropriate entries to the accounts account of the several Underwriters Underwriter on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this AgreementNYUCC.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, misleading and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g2(d) are limited in all respects to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by or on behalf of such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto, it being understood and agreed that for purposes of this Agreement, the only information furnished by such Selling Shareholder consists of the name of such Selling Shareholder, the number of offered shares and the address and other information with respect to such Selling Shareholder (excluding percentages) which appear in the Registration Statement or any Prospectus in the table (and corresponding footnotes) under the caption “Selling Shareholders” (with respect to each Selling Shareholder, the “Selling Shareholder Information”).
(e) With respect to any Selling Shareholder that is a non-U.S. person, such Selling Shareholder has the power to submit, and pursuant to Section 19(a) has, to the extent permitted by law, legally, validly, effectively and irrevocably submitted, to the jurisdiction of the Specified Courts (as defined in Section 19(a)), and has the power to designate, appoint and empower, and pursuant to Section 19(b), has legally, validly and effectively designated, appointed and empowered an agent for service of process in any suit or proceeding based on or arising under this Agreement in any of the Specified Courts.
(f) Such Selling Shareholder has executed a “lock-up” agreement, substantially in the form of Exhibit A hereto, relating to sales and certain other dispositions of Ordinary Shares or certain other securities, that is in full force and effect as of the date hereof and shall be in full force and effect as of the Closing Date.
Appears in 2 contracts
Samples: Underwriting Agreement (Cushman & Wakefield PLC), Underwriting Agreement (Cushman & Wakefield PLC)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally represents and warrants to and agrees with each of the Underwriters Underwriter that:
(a) Such Selling Shareholder is the lawful owner of the Firm Shares to be sold by such Selling Shareholder pursuant to this Agreement and has, and on the Closing Date will have, good and clear title to such Firm Shares, free of all restrictions on transfer, liens, encumbrances, security interests, equities and claims whatsoever (subject to any lien created hereby and restrictions arising under applicable securities law, which do not survive the Closing).
(b) Such Selling Shareholder has, and on the Closing Date will have, full legal right, power and authority, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney (the "Power of Attorney") of such Selling Shareholder, if applicable, appointing certain individuals as such Selling Shareholder's attorneys-in-fact (the "Attorneys") to the extent set forth therein, relating to the transactions contemplated hereby and by the Registration Statement and to sell, assign, transfer and deliver the Shares to be sold by such Selling Shareholder in the manner provided herein and therein.
(c) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement of such Selling Shareholder has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement instrument of such Selling Shareholder Shareholder, enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcyand, insolvencypursuant to such Power of Attorney, reorganizationsuch Selling Shareholder has, moratorium among other things, authorized the Attorneys, or similar laws affecting creditors’ rights generallyany one of them, to execute and (ii) deliver on such Selling Shareholder's behalf this Agreement and any other document that they, or any one of them, may deem necessary or desirable in connection with the remedy of specific performance transactions contemplated hereby and injunctive and other forms of equitable relief may be subject to equitable defenses thereby and to deliver the discretion of the court before which any proceeding may Firm Shares to be broughtsold by such Selling Shareholder pursuant to this Agreement.
(e) Upon delivery of and payment for the Firm Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 all of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes rights of this representation, such Selling Shareholder may assume that when and will also acquire their interest in such payment, delivery and crediting occur, (x) such Firm Shares will have been registered in the name free of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCCany adverse claim.
(f) Such The execution, delivery and performance of this Agreement and Power of Attorney, if applicable, of such Selling Shareholder by or on behalf of such Selling Shareholder, the compliance by such Selling Shareholder with all the provisions hereof and thereof and the consummation of the transactions contemplated hereby and thereby will not (i) require any consent, approval, authorization or other order of, or qualification with, any court or governmental body or agency (except such as may be required under the securities or Blue Sky laws of the various states), (ii) conflict with or constitute a breach of any of the terms or provisions of, or a default under, the organizational documents of such Selling Shareholder, if such Selling Shareholder is not prompted an individual, or any indenture, loan agreement, mortgage, lease or other agreement or instrument to which such Selling Shareholder is a party or by which such Selling Shareholder or any material information concerning the Company property of such Selling Shareholder is bound or its subsidiaries which is not set forth (iii) violate or conflict with any applicable law or any rule, regulation, judgment, order or decree of any court or any governmental body or agency having jurisdiction over such Selling Shareholder or any property of such Selling Shareholder, other than, in the Time case of Sale Prospectus clauses (ii) and (iii), any conflict or violation that, would not affect the validity of, or adversely affect the Selling Shareholder's ability to sell its Shares pursuant to this Agreementconsummate the transactions contemplated hereunder.
(ig) The information in the Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit Statement under the caption "Principal and Selling Stockholders" which specifically relates to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus such Selling Shareholder does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is and will not yet available to prospective purchasers and at on the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will notDate, contain any untrue statement of a material fact or omit to state a any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and .
(iiih) At any time during the Prospectus does not contain and, as amended or supplementedperiod described in Section 5(d), if applicable, will not contain there is any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, change in the light of the circumstances under which they were madeinformation referred to in Section 7(g), not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished will immediately notify you of such change.
(i) Such Selling Stockholder has not taken, and will not take, directly or indirectly, any action designed to, or which might reasonably be expected to, cause or result in stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Shares pursuant to the Company distribution contemplated by this Agreement, and other than as permitted by the Act, such Selling Stockholder has not distributed and will not distribute any prospectus or other offering material in writing connection with the offering and sale of the Shares.
(j) Each certificate signed by or on behalf of such Selling Shareholder and delivered to the Underwriters or counsel for the Underwriters shall be deemed to be a representation and warranty by such Selling Shareholder expressly for use in to the Registration Statement, Underwriters as to the Time of Sale Prospectus, the Prospectus or any amendments or supplements theretomatters covered thereby.
Appears in 2 contracts
Samples: Underwriting Agreement (Zell Samuel), Underwriting Agreement (Cna Surety Corp)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorizedauthorized (if a non-natural person), executed and delivered by or on behalf of such Selling Shareholder, as applicable.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder and Computershare Inc., as Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Custody Agreement”) and the Power of Attorney appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder Registration Statement (the “Power of Attorney and Custody AgreementAttorney”) will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation or bylaws by-laws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entitya corporation), (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Custody Agreement or Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorizedauthorized (if a non-natural person), executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(e) Upon payment for Delivery of the Shares to be sold by such Selling Shareholder and payment therefor pursuant to this Agreement, delivery of Agreement will pass valid title to such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee free and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice clear of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCCNew York Uniform Commercial Code, to each Underwriter who has purchased such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes without notice of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCCan adverse claim.
(f) Such Selling Shareholder has no reason to believe that the representations and warranties of the Company contained in Section 1 are not true and correct. Such Selling Shareholder is not prompted by any material non-public information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(ig) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (iii) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, (ii) each broadly available road show, if any, when considered together with the Time of Sale Prospectus, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except ; provided that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, each broadly available road show, if any, the Prospectus or any amendments or supplements thereto.
Appears in 2 contracts
Samples: Underwriting Agreement (Neutral Tandem Inc), Underwriting Agreement (Neutral Tandem Inc)
Representations and Warranties of the Selling Shareholders. Each of the Selling Shareholder Shareholders, severally and not jointly, represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals and American Stock Transfer & Trust Company, as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “"Custody Agreement") and the Power of Attorney appointing Waynx X. Xxxxxxx xx such Selling Shareholder's attorney-in-fact to the extent set forth therein, relating to the transactions contemplated hereby and Custody Agreement”by the Registration Statement (the "Power of Attorney") will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation law or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Custody Agreement or Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, to the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such SharesShareholder.
(d) The Shares to be sold by such Selling Shareholder pursuant to this Agreement have been duly authorized and are validly issued, fully paid and non-assessable.
(e) The Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(ef) Upon payment for Delivery of the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters Agreement will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, pass title to such Shares may be asserted against the Underwriters with respect to such free and clear of any security entitlement; for purposes of this representationinterests, such Selling Shareholder may assume that when such paymentclaims, delivery liens, equities and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCCother encumbrances.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto.
Appears in 2 contracts
Samples: Underwriting Agreement (Advanced Lighting Technologies Inc), Underwriting Agreement (Advanced Lighting Technologies Inc)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder Shareholder, severally and not jointly, represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder Registration Statement (the “Power of Attorney and Custody AgreementAttorney”) will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) by-laws or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of an entity), (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or “blue sky sky” laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date Date, after giving effect to the Formation Transactions, will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and have the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(e) Upon payment of the purchase price by the Underwriters for the Shares to be being sold by such Selling Shareholder pursuant to this Agreement, and the delivery of by such Shares, as directed by the Underwriters, Selling Shareholder to Cede & Co. (“Cede”) or such other nominee as may be designated by the The Depository Trust Company (“DTC”), registration ) of the Shares being sold by such Shares Selling Shareholder registered in the name of Cede or such other nominee designated by DTC, both as provided for in this Agreement, and the crediting of such Shares on to the books of DTC to securities accounts account of the Underwriters with DTC, Cede or such other nominee designated by DTC will be a “protected purchaser” (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of as defined in Section 8-105 303 of the New York Uniform Commercial Code (the “UCCCode”)) to of such Shares), the Underwriters will acquire a valid “security entitlement” (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCCCode) to such Shares, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any an “adverse claim”, within the meaning of ” (as defined in Section 8-102 of the UCC, to such Shares Code) may be asserted against the Underwriters with respect to such security entitlemententitlement (assuming that the Underwriters are without notice of any such adverse claim); for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC Code and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCCCode.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus and the Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 56), the Time of Sale Prospectus, as then amended or supplemented by the Companysupplemented, if applicable, will not, not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, misleading and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties and agreements set forth in this paragraph 2(g3(g) are limited to statements or omissions the name and address of such Selling Stockholder, the number of shares of Common Stock beneficially owned by such Selling Stockholder after giving effect to the sale of the Shares being sold by such Selling Stockholder and the number of Shares made in reliance upon and in conformity with information relating to available for sale by such Selling Shareholder (the “Selling Shareholder Information”), which information has been furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, Prospectus or the Prospectus or any amendments or supplements thereto.
Appears in 2 contracts
Samples: Underwriting Agreement (Morgans Hotel Group Co.), Underwriting Agreement (Northstar Capital Investment Corp /Md/)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally severally, and not jointly, represents and warrants to to, and agrees with with, each of the Underwriters that:Underwriter as set forth below in this Section 2.
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by Other than any Lien granted pursuant to the applicable Margin Loan (as defined in the Prospectus), which Liens applicable to the Securities shall be discharged at Closing, such Selling Shareholder of, has good and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact valid title to the extent set forth therein and relating to the deposit of the Shares Securities to be sold by such Selling Shareholder (the “Power it pursuant to this Agreement, free and clear of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky laws and regulations of the various states in connection with the offer and sale of the Sharesall Liens.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be brought.
(e) Upon payment for the Shares Securities to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such SharesSecurities, as directed by the UnderwritersRepresentative, to Cede & Co. (“Cede”) or such other nominee as may be designated by the The Depository Trust Company (“DTC”) or CDS Clearing and Depository Services Inc. (“CDS”), as applicable, registration of such Shares Securities in the name of Cede or such other nominee and the crediting of such Shares Securities on the books of DTC or CDS to the securities accounts account of the Underwriters (assuming that neither DTC DTC, CDS nor any such Underwriter the Underwriters has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such SharesSecurities), (A) DTC or CDS, as applicable, shall be a “protected purchaser” of such Shares Securities within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and Securities, (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares Securities may be asserted against the Underwriters with respect to such security entitlement; and (D) the Underwriters will otherwise acquire good and valid title to such Securities free and clear of all Liens; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares Securities will have been registered in the name of Cede or another nominee designated by DTCDTC or CDS, in each case on the Company’s share registry in accordance with its certificate of incorporationarticles, bylaws and applicable law, (y) DTC or CDS, as applicable, will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries entry to the accounts account of the several Underwriters on the records of DTC or CDS, as applicable, will have been made pursuant to the UCC.
(fd) Such The execution and delivery by such Selling Shareholder is of, and the performance by such Selling Shareholder of its obligations under, this Agreement will not prompted by contravene or conflict with, result in a breach of, or constitute a default (or, with the giving of notice or lapse of time, would be in default) under, or require the consent of any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
other party to, (i) The Registration Statementthe articles, when it became effective, did not contain andby-laws or other organizational documents, as amended or supplementedthe case may be, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingsuch Selling Shareholder, (ii) any other agreement or instrument to which such Selling Shareholder is a party or by which it is bound or (iii) any provision of applicable law or any judgment, order, decree or regulation applicable to such Selling Shareholder of any court, regulatory body, administrative agency, governmental body or arbitrator having jurisdiction over such Selling Shareholder, except, in the Time case of Sale Prospectus does the foregoing clauses (ii) and (iii) as would not, andindividually or in the aggregate, at reasonably be expected to materially impact such Selling Shareholder’s ability to perform its obligations under this Agreement. No consent, approval, authorization or other order of, or registration or filing with, any court or other governmental authority or agency, is required for the time of each sale consummation by such Selling Shareholder of the Shares transactions contemplated in connection with this Agreement, except such as may be required under the offering when Securities Act, applicable state securities or blue sky laws and from the Prospectus is not yet available FINRA and such other approvals as have been or will be made or obtained on or prior to prospective purchasers the Closing Date.
(e) All information furnished to the Company or the Underwriters by or on behalf of such Selling Shareholder in writing expressly for use in the Registration Statement, the Disclosure Package and at the Prospectuses is, and on the Closing Date (will be, true, correct and complete in all material respects, and did not, and as defined in Section 5), of the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, Closing Date will not, contain any untrue statement of a material fact or omit to state a any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, such information not misleading, it being understood and agreed that the only such information consists of the information with respect to such Selling Shareholder under the captions “Selling Shareholders” and “Use of Proceeds” in the Pricing Disclosure Package and the Prospectuses (iiisuch information, the “Selling Shareholder Information”).
(f) Prior to the Prospectus does completion of the Underwriters’ distribution of the Securities, such Selling Shareholder has not contain and, as amended or supplemented, if applicable, distributed and will not contain distribute any untrue statement of a offering material fact or omit to state a material fact necessary to make in connection with the statements therein, in the light offering and sale of the circumstances under Securities other than the Disclosure Package and the Prospectuses.
(g) Such Selling Shareholder has not taken and will not take, directly or indirectly, any action that is designed to or that has constituted or that might reasonably be expected to cause or result in stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Securities.
(h) Except as provided herein, there is no Person which they were made, not misleading, except that has been engaged by such Selling Shareholder to act for such Selling Shareholder and which is entitled to any brokerage or finder’s fee in connection with the completion of this Agreement or any of the transactions contemplated hereunder. Any certificate signed by or on behalf of such Selling Shareholder and delivered to the Representative or to counsel for the Underwriters in connection with the offering of the Securities shall be deemed a representation and warranty by such Selling Shareholder to the Underwriters as to the matters covered thereby with respect to such Selling Shareholder. Such Selling Shareholder has a reasonable basis for making each of the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance Section 2. Such Selling Shareholder further acknowledges that the Underwriters will rely upon the accuracy and in conformity with information relating truthfulness of the foregoing representations and hereby consents to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements theretoreliance.
Appears in 2 contracts
Samples: Underwriting Agreement (GFL Environmental Inc.), Underwriting Agreement (GFL Environmental Inc.)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder Shareholder, severally and not jointly, represents and warrants to and agrees with the several Underwriters and the Company, and shall be deemed to represent and warrant to the several Underwriters and the Company on each of the Underwriters Closing Date, that:
(a) This Such Selling Shareholder has duly executed a durable power of attorney and custody agreement ("Irrevocable Power of Attorney and Custody Agreement") naming Xxxx X. Xxxx and Xxxxxx X. Xxxxxxx, or either of them, as such Selling Shareholder's attorney(s)-in-fact ("Attorneys-in-Fact") for the purpose of entering into and carrying out this Agreement and naming Xxxx X. Xxxx, as custodian ("Custodian") of the Shares of such Selling Shareholder for the purpose of selling such Shares to the Underwriters on each Closing Date and receiving payment therefor.
(b) All consents, approvals, authorizations and orders necessary for the execution and delivery by such Selling Shareholder of this Agreement, the Irrevocable Power of Attorney and Custody Agreement and the Tax Indemnification Agreement by and among the Company and the shareholders of the Company and included as an exhibit to the Registration Statement (the "Tax Indemnification Agreement"), and for the sale and delivery of the Shares to be sold by such Selling Shareholder hereunder, as set forth on SCHEDULE II annexed hereto, have been obtained. Such Selling Shareholder has, and at the time of delivery thereof hereunder such Selling Shareholder will have, good and valid title to the Shares proposed to be sold by such Selling Shareholder hereunder, free and clear of all voting trust arrangements, liens, encumbrances, security interests, equities, claims and community or marital property rights, other than any created by the Irrevocable Power of Attorney and Custody Agreement or this Agreement for the benefit of the Underwriters. Such Selling Shareholder has full right, power and authority to enter into this Agreement, the Irrevocable Power of Attorney and Custody Agreement and the Tax Indemnification Agreement and to sell, assign, transfer and deliver such Shares hereunder, free and clear of all voting trust arrangements, liens, encumbrances, security interests, equities, claims and community or marital property rights, other than any created by the Irrevocable Power of Attorney and Custody Agreement or this Agreement for the benefit of the Underwriters. Upon delivery of and payment for such Shares hereunder, the Underwriters will acquire good and valid title thereto, free and clear of all voting trust arrangements, liens, encumbrances, security interests, equities, claims and community or marital property rights.
(c) Such Selling Shareholder has not distributed and will not distribute any Preliminary Prospectus, the Prospectus or any other material in connection with the offering and sale of the Shares. Such Selling Shareholder has not taken and will not take, directly or indirectly, any action designed to or which could cause or result in, under the Exchange Act or otherwise, stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Common Stock.
(d) The execution, delivery and performance by such Selling Shareholder of this Agreement, the Irrevocable Power of Attorney and Custody Agreement and the Tax Indemnification Agreement will not, if applicable, result in the violation of any provisions of the Articles of Incorporation, By-laws or other governing documents of such Selling Shareholder, or constitute a breach, or be in contravention, of any provision of any agreement, franchise, license, indenture, mortgage, deed of trust or other instrument to which such Selling Shareholder is a party or by which such Selling Shareholder or such Selling Shareholder's property may be bound or affected, or any statute, rule or regulation applicable to such Selling Shareholder, or violate any order or decree of any court, regulatory body, administrative agency or other governmental body having jurisdiction over such Selling Shareholder or any of such Selling Shareholder's property. No consent, approval, authorization or other order of any court, regulatory body, administrative agency or other governmental body is required for the execution and delivery of, and performance under, this Agreement by such Selling Shareholder or the consummation by such Selling Shareholder of the transactions contemplated by this Agreement, except for compliance with the Act, the Exchange Act, the Blue Sky Laws applicable to the public offering of the Shares by the Underwriters and the clearance of such offering with the NASD. Such Selling Shareholder hereby represents and warrants that each Attorney-in-Fact has been duly appointed as attorney-in-fact by such Selling Shareholder for the purpose of entering into and carrying out this Agreement, and the Irrevocable Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by or on behalf of such Selling ShareholderShareholder to the Representatives.
(be) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody This Agreement”) will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Irrevocable Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Tax Indemnification Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a are each valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its their respective terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be brought.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted has deposited in custody, under the Irrevocable Power of Attorney and Custody Agreement, certificates in negotiable form for the Shares to be sold hereunder by any material information concerning the Company or its subsidiaries which is not such Selling Shareholder as set forth in opposite such Selling Shareholder's name on SCHEDULE II annexed hereto (including the Time maximum number of Sale Prospectus to sell its Optional Shares set forth on SCHEDULE II) for the purpose of further delivery pursuant to this Agreement. Such Selling Shareholder agrees that the Shares of such Selling Shareholder on deposit with the Custodian are subject to the interests of the Company, the Underwriters and the other Selling Shareholders, that the arrangements made for such custody, and the appointment of the Attorneys-in-Fact pursuant to the Irrevocable Power of Attorney and Custody Agreement, are to that extent irrevocable, and that the obligations of such Selling Shareholder hereunder and under the Irrevocable Power of Attorney and Custody Agreement shall not be terminated, except as provided in this Agreement and the Irrevocable Power of Attorney and Custody Agreement, by any act of such Selling Shareholder, by operation of law, whether in the case of an individual Selling Shareholder, by the death or incapacity of such Selling Shareholder or, in the case of a trust or estate, by the death of the trustee or trustees or the executor or executors or the termination of such trust or estate, or, in the case of a partnership or corporation, by the dissolution, winding up or other event affecting the legal life of such entity, or by the occurrence of any other event. If any individual Selling Shareholder, trustee or executor should die or become incapacitated, or any such trust, estate, partnership or corporation should be terminated, or if any other event should occur before the delivery of the Shares hereunder, the certificates for Shares then on deposit with the Custodian shall, to the extent such Shares are purchased by the Underwriters, be delivered by the Custodian in accordance with the terms and conditions of this Agreement and the Irrevocable Power of Attorney and Custody Agreement as if such death, incapacity, termination or other event had not occurred, regardless of whether or not the Custodian shall have received notice thereof. Such Selling Shareholder represents that each Attorney-in-Fact has been authorized by such Selling Shareholder to execute and deliver this Agreement and the Custodian has been authorized to receive and acknowledge receipt of the proceeds of sale of the Shares sold by such Selling Shareholder against delivery thereof and otherwise to act on behalf of such Selling Shareholder.
(ig) The Registration StatementInsofar as it relates to such Selling Shareholder, when it became effectiveeach Preliminary Prospectus, did not contain as of its date, has conformed in all material respects with the requirements of the Act and, as amended of its date, has not included any untrue statement of a material fact or supplementedomitted to state a material fact necessary to make the statements therein not misleading; and on the effective date of the Registration Statement and at all times subsequent thereto up to each Closing Date; (i) the Registration Statement and the Prospectus, if applicableas they relate to such Selling Shareholder, did or will not contain conform to the requirements of the Act; and (ii) neither the Registration Statement nor the Prospectus as it relates to such Selling Shareholder did or will include any untrue statement of a material fact or omit to state a any material fact required to be stated therein or necessary to make the statements therein not misleading, .
(iih) To the Time of Sale Prospectus does not, and, at the time knowledge of each sale Selling Shareholder who is not a Principal Shareholder, the representations and warranties of the Shares Company and the Principal Shareholders set forth in Section 2 hereof are true and correct.
(i) The information contained in such Directors', Officers' and Selling Shareholders' Questionnaire completed in connection with the Company's public offering when and delivered to the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale ProspectusRepresentatives was, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleadingdate of such questionnaire, and (iii) the Prospectus does not contain andis, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were madedate of this Agreement, not misleading, except that the representations true and warranties set forth in this paragraph 2(g) are limited to statements correct. A certificate signed by or omissions made in reliance upon and in conformity with information relating to such on behalf of any Selling Shareholder furnished as such and delivered to the Company in writing Representatives or to counsel for the Underwriters shall be deemed a representation and warranty by such Selling Shareholder expressly to the Underwriters as to the matters covered thereby. A certificate delivered by or on behalf of any Selling Shareholder to counsel for use the Selling Shareholders for purposes of enabling such counsel to render the opinion referred in Section 10(e) will also be furnished to the Registration Statement, Representatives and counsel for the Time of Sale Prospectus, Underwriters and shall be deemed to be additional representations and warranties to the Prospectus or any amendments or supplements theretoUnderwriters by such Selling Shareholder as to the matters covered thereby.
Appears in 2 contracts
Samples: Underwriting Agreement (Metro Information Services Inc), Underwriting Agreement (Metro Information Services Inc)
Representations and Warranties of the Selling Shareholders. Each of the Selling Shareholder Shareholders, severally and not jointly, represents and warrants to and agrees with each of the Underwriters thatas follows:
(a) This Agreement has been duly authorized, executed and delivered Except with respect to any Option Shares to be acquired by or on behalf of such Selling Shareholder.
(b) The execution and delivery by , such Selling Shareholder of, is the record owner of and now has and at the Closing Date and the performance by such Selling Shareholder of its obligations underOver-Allotment Closing Date, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact if any, will have valid title to the extent set forth therein and relating to the deposit of the Shares to be sold by such Selling Shareholder Shareholder, free and clear of any liens, encumbrances, equities and claims (except for any liens, encumbrances, equities and claims arising under the “Custody Agreement and Power of Attorney described in Section 3(b) of this Agreement that has been executed and Custody Agreement”) will not contravene (i) delivered by such Selling Shareholder). At the Closing Date and any provision of applicable lawOver-Allotment Closing Date, (ii) the certificate of incorporation or bylaws of if any, such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents will be the record owner of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, have valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the to any Option Shares to be sold by such Selling Shareholder Shareholder, free and clear of all security interests, claims, any liens, encumbrances, equities or other encumbrances and claims (except for any liens, encumbrances, equities and claims arising under the legal right and power, and all authorization and approval required by law, to enter into this Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement that has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder).
(eb) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company Company, New York, NY (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares)Underwriters, (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCCNYUCC, and (B) under Section 8-501 of the UCCNYUCC, the Underwriters will acquire a valid security entitlement in respect of such Shares Shares, free and (C) no action based on clear of any “adverse claim”liens, within the meaning of Section 8-102 of the UCCencumbrances, to such Shares may be asserted against the Underwriters with respect to such security entitlementequities and claims; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another a nominee designated by DTC, in each case on the CompanyIssuer’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(fc) This Agreement and the Custody Agreement and Power of Attorney have been duly authorized, executed and delivered by such Selling Shareholder and are valid and binding agreements of such Selling Shareholder. The execution and delivery of this Agreement and the Custody Agreement and Power of Attorney and the consummation by such Selling Shareholder of the transactions contemplated thereby and the fulfillment by such Selling Shareholder of the terms thereof will not require any consent, approval, authorization, or other order of any court, regulatory body, administrative agency or other governmental body (except as may be required under the Securities Act and state securities or Blue Sky laws) and will not result in a breach of any of the terms and provisions of, or constitute a default under, (i) organizational documents of such Selling Shareholder, if not an individual, (ii) any indenture, mortgage, deed of trust or other agreement or instrument to which such Selling Shareholder is a party, or (iii) of any order, rule or regulation applicable to such Selling Shareholder of any court or of any regulatory body or administrative agency or other governmental body having jurisdiction, except, with respect to clauses (ii) and (iii), where the failure to obtain such consents, approvals, authorizations or orders, or the occurrence of such breaches or defaults, would not materially adversely affect the power or ability of such Selling Shareholder to perform its obligations under this Agreement or the Custody Agreement and Power of Attorney or to consummate the transactions contemplated hereby and thereby.
(d) Such Selling Shareholder is has not prompted by taken, directly or indirectly, any material information concerning the Company action designed to, or its subsidiaries which is not set forth has constituted, or which might reasonably be expected to cause or result in the Time stabilization or manipulation of Sale the price of the Common Stock of the Issuer and, except as permitted by the Securities Act and consented to in advance by the Representatives, the Selling Shareholder has not distributed any Free Writing Prospectus, Preliminary Prospectus, the Prospectus to sell its Shares pursuant to this Agreementor any other offering material in connection with the offering of the Shares.
(ie) Except as disclosed by such Selling Shareholder in writing to the Representatives, neither such Selling Shareholder nor any of his, her or its affiliates directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, or has any other affiliations or associations with any member of FINRA.
(f) The information pertaining to such Selling Shareholder under the caption “Principal and Selling Shareholders” in the Pricing Prospectus and Prospectus, and any Free Writing Prospectus containing information pertaining to such Selling Shareholder that has been provided by such Selling Shareholder, is complete and accurate in all material respects. The Registration StatementStatement does not, and any further amendments to the Registration Statement will not, when it became they become effective, did not contain and, as amended or supplemented, if applicable, will not contain any an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) ; the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at as amended or supplemented on the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any an untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, ; and (iii) the Prospectus does not contain andDisclosure Package, as amended or supplementedof the Applicable Time, if applicable, will did not contain include any untrue statement of a material fact or omit to state a any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, except that all of the representations and warranties set forth in this paragraph 2(gsecond sentence of clause (f) are limited apply only to statements (1) information with respect to such Selling Shareholder set forth in the Registration Statement, the Prospectus, the Disclosure Package or omissions made any amendment or supplement thereto in reliance upon and in conformity with written information relating to such Selling Shareholder furnished to the Company in writing Issuer by such Selling Shareholder expressly for use therein, it being understood and agreed that the only such information furnished by each Selling Shareholder consists of the statements with respect to such Selling Shareholder under the caption “Principal and Selling Shareholders” in the Prospectus and the Disclosure Package (with respect to each Selling Shareholder, the “Selling Shareholder Information”); and (2) information with respect to any position, office or other relationship that such Selling Shareholder has had with, and that is material to, the Issuer or any of its predecessors or affiliates within the three years prior to the date of the Prospectus. The sale of the Firm Securities by such Selling Shareholder pursuant hereto is not prompted by any information concerning the Issuer or any of the Subsidiaries which is not set forth in the Registration Statement, Prospectus or Disclosure Package.
(g) Each Selling Shareholder that is selling Option Shares hereby severally, and not jointly, represents and warrants to each of the Time Underwriters that the arrangements made by such Selling Shareholder for the exercise of Sale Prospectusthe Options exercisable for the Option Shares are in proper form for the irrevocable exercise of such Options in accordance with the terms of the applicable Issuer Stock Plan (as hereinafter defined); and that on or before the Closing Date, such Options will be duly and irrevocably exercised in accordance with the terms of the applicable Issuer Stock Plan, and the exercise of such Options shall not be terminable by any act or deed of such Selling Shareholder (or by any other person, firm or corporation including the Issuer, the Prospectus Custodian or any amendments the Attorney-in-Fact)or by operation of law or supplements theretootherwise (including the death of such Selling Shareholder if an individual or the dissolution or winding up of such Selling Shareholder if an entity).
Appears in 2 contracts
Samples: Equity Underwriting Agreement (Matador Resources Co), Equity Underwriting Agreement (Matador Resources Co)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally represents and warrants to and agrees with each of the Underwriters Underwriter that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the and, if such Selling Shareholder is an individual, a Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain one or more individuals as such Selling Shareholder’s 's attorneys-in-fact to the extent set forth therein and relating to the deposit of transactions contemplated hereby and by the Shares Registration Statement (with respect to be sold by such Selling Shareholder (Shareholder, the “Power of Attorney and Custody Agreement”"POWER OF ATTORNEY") will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation or bylaws by-laws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entitya corporation), (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement (if any) of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “"security entitlement” " within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement (if any) and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The If such Selling Shareholder is an individual, the Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that Shareholder. A copy of the remedy Power of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and Attorney has been delivered to the discretion of Underwriter prior to the court before which any proceeding may be broughtdate hereof.
(e) Delivery of the Shares represented by certificates to be sold by such Selling Shareholder and payment therefor pursuant to this Agreement will pass valid title to such Shares, free and clear of any adverse claim within the meaning of Section 8-102 of the New York Uniform Commercial Code, to the Underwriter if the Underwriter has purchased such Shares without notice of an adverse claim.
(f) Upon payment for the Shares not represented by certificates to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the UnderwritersUnderwriter, to Cede & Co. (“Cede”"CEDE") or such other nominee as may be designated by the Depository Trust Company (“"DTC”"), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters Underwriter (assuming that neither DTC nor any such the Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “"UCC”")) to such Shares), (A) DTC shall be a “"protected purchaser” " of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters Underwriter will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “"adverse claim”", within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters Underwriter with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s 's share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “"clearing corporation” " within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts account of the several Underwriters Underwriter on the records of DTC will have been made pursuant to the UCC.
(fg) Such Selling Shareholder is not prompted by To the extent that any material information concerning the Company statements or its subsidiaries which is not set forth omissions made in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, the Prospectus or any amendment or supplement thereto are made in reliance upon and in conformity with written information furnished to the Company by such Selling Shareholder expressly for use therein, the Registration Statement did, and the Prospectus and any further amendments or supplements to the Registration Statement and the Prospectus, when it became effective, did not contain andthey become effective or are filed with the Commission, as amended or supplementedthe case may be, if applicable, will conform in all material respects to the requirements of the Act and the rules and regulations of the Commission thereunder and will not contain any untrue statement of a material fact or omit to state a any material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto.
Appears in 2 contracts
Samples: Underwriting Agreement (Timberland Co), Purchase Agreement (Timberland Co)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder and is the valid and binding agreement of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder and Computershare Trust Company, N.A., as Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Custody Agreement”) and the Power of Attorney appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder Registration Statement (the “Power of Attorney and Custody AgreementAttorney”) will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation incorporation, by-laws or bylaws similar constitutional document of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entitynot a natural person), (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement, the Custody Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares)), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(g) (i) The Each document, if any, filed or to be filed pursuant to the Exchange Act and incorporated by reference in the Time of Sale Prospectus or the Prospectus complied or will comply when so filed in all material respects with the Exchange Act and the applicable rules and regulations of the Commission thereunder, (ii) each part of the Registration Statement, when it such part became effective, did not contain andand each such part, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (iiiii) the Registration Statement as of the date hereof does not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (iv) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, (v) each broadly available road show, if any, when considered together with the Time of Sale Prospectus, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading and (iiivi) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except ; provided that the representations and warranties set forth in this paragraph Section 2(g) are limited to statements or omissions made in reliance the Registration Statement, Time of Sale Prospectus, the Prospectus, or any amendments or supplements thereto based upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use therein, it being understood and agreed that the only such information is that described as such in Section 11(b) hereof.
(h) Such Selling Shareholder is not (1) an employee benefit plan subject to Title I of ERISA, (2) a plan or account subject to Section 4975 of the Code or (3) an entity deemed to hold “plan assets” of any such plan or account under Section 3(42) of ERISA, 29 C.F.R.2510.3-101, or otherwise.
(i) Neither such Selling Shareholder nor any of its subsidiaries or controlled affiliates, nor any of their directors or officers, nor, to such Selling Shareholder’s knowledge, any employee, agent or representative of such Selling Shareholder or of any of its subsidiaries or non-controlled affiliates, has taken or will take any action in furtherance of an offer, payment, promise to pay, or authorization or approval of the payment, giving or receipt of money, property, gifts or anything else of value, directly or indirectly, to any government official (including any officer or employee of a government or government-owned or controlled entity or of a public international organization, or any person acting in an official capacity for or on behalf of any of the foregoing, or any political party or party official or candidate for political office) (“Government Official”) in order to improperly influence official action by that Government Official for the benefit of such Selling Shareholder or its subsidiaries or affiliates, or to otherwise secure any improper advantage, or to any person in violation of the Anti-Corruption Laws. For purposes of these Sections (i)(i) through (iii), “controlled affiliate” means an affiliate over which such Selling Shareholder possesses, directly or indirectly, the power to direct or cause the direction of the management and policies thereof, whether through the ownership of voting securities, by contract or otherwise. For purposes of the representations in this Section 2, the Company and each of its subsidiaries shall not be considered a subsidiary, controlled affiliate or affiliate of such Selling Shareholder.
(i) The operations of such Selling Shareholder and each of its subsidiaries and controlled affiliates are and have been conducted at all times in material compliance with all applicable financial recordkeeping and reporting requirements and the Anti-Money Laundering Laws.
(ii) Neither such Selling Shareholder nor any of its subsidiaries, nor any of their directors or officers nor, to the Company’s knowledge, any employee, agent, affiliate or representative, is a Person that is, or is owned or controlled by one or more Persons that are:
(A) the subject of any sanctions administered or enforced by the Sanctions, or
(B) located, organized or resident in a country or territory that is the subject of comprehensive territorial Sanctions (including, without limitation, the so-called Donetsk People’s Republic, the so-called Luhansk People’s Republic, or any other Covered Region of Ukraine identified pursuant to Executive Order 14065, Crimea, Cuba, Iran, North Korea and Syria).
(iii) For the past five years, such Selling Shareholder and each of its subsidiaries have not engaged in, are not now engaged in, and will not engage in, any dealings or transactions with any Person, or in any country or territory, that at the time of the dealing or transaction is or was the subject of Sanctions.
(j) Such Selling Shareholder will not, directly or indirectly, use the proceeds of the offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person.
(i) to fund or facilitate any activities or business of or with any Person or in any country or territory that, at the time of such funding or facilitation, is, or whose government is, the subject of Sanctions;
(ii) to fund or facilitate any money laundering or terrorist financing activities; or
(iii) in any other manner that would cause or result in a violation of any Anti-Corruption Laws, Anti-Money Laundering Laws, or Sanctions by any Person (including any Person participating in the Registration Statementoffering, whether as underwriter, advisor, investor or otherwise).
(k) Such Selling Shareholder and its subsidiaries have conducted and will conduct their businesses in compliance with the Anti-Corruption Laws, the Time Anti-Money Laundering Laws, and Sanctions, and no investigation, inquiry, action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving such Selling Shareholder or any of Sale Prospectusits subsidiaries with respect to the Anti-Corruption Laws, the Prospectus Anti-Money Laundering Laws or any amendments or supplements theretoSanctions is pending or, to the knowledge of such Selling Shareholder, threatened. Such Selling Shareholder and its subsidiaries and affiliates have instituted and maintained and will continue to maintain policies and procedures reasonably designed to promote and achieve compliance with the Anti-Corruption Laws, the Anti-Money Laundering Laws, Sanctions, and with the representations and warranties contained herein.
Appears in 2 contracts
Samples: Underwriting Agreement (REV Group, Inc.), Underwriting Agreement (REV Group, Inc.)
Representations and Warranties of the Selling Shareholders. Each The Selling Shareholder Shareholders, severally represents and warrants to not jointly, represent and agrees with each of warrant to, and agree with, the Underwriters Company and the Underwriter that:
(a) This Agreement, the Custodian Agreement has (as defined below) and the Power of Attorney have been duly authorized, executed and delivered by or on behalf of such each of the Selling ShareholderShareholders, and assuming due execution and delivery by the other parties hereto and thereto, constitutes the valid and binding agreement of the Selling Shareholders, enforceable against the Selling Shareholders in accordance with the terms hereof and thereof.
(b) The execution and delivery by such the Selling Shareholder Shareholders of, and the performance by such the Selling Shareholder Shareholders of its their obligations under, this Agreement, the Custodian Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) will not contravene (with or without the giving of notice or the passage of time or both) (i) result in a breach or violation of any provision of applicable lawthe terms or provisions of, (ii) the certificate or constitute a default under, any indenture, mortgage, deed of incorporation trust, loan agreement, lease or bylaws of such Selling Shareholder (if other agreement or instrument to which such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder a party or (ivii) conflict with or violate any judgmentlaw, order statute, rule or regulation or any order, judgment or decree of any court or governmental body, agency or court body having jurisdiction over such any Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such The Selling Shareholder hasShareholders will have, and on as of the Closing Date will have(as hereinafter defined), valid title to, or a valid “security entitlement” within to the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances Firm Shares and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custodian Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Selling Shareholder Firm Shares (including those to be issued upon the exercise of an Option) free and clear of all liens, security interests, pledges, charges, equities and other encumbrances and to perform all obligations under such agreements.
(d) Upon delivery of the certificates for the Selling Shareholder Firm Shares properly indorsed to the Underwriter, to the extent such delivery is not made through the facilities of The Depository Trust Company (the “DTC”), and payment of the purchase price therefor pursuant to this Agreement, title to such Selling Shareholder Firm Shares will be passed to the Underwriter, free and clear of all liens, security interests, pledges, charges, equities, and other encumbrances.
(e) The Selling Shareholders do not require any consent, approval, authorization, order or declaration of or from, or registration, qualification or filing with, any court or governmental agency or body in connection with the sale of the Selling Shareholder Firm Shares or the consummation of the transactions contemplated by this Agreement, except for the registration of the Common Shares under the Securities Act, and such as may be required by the NASD (as hereinafter defined) and under state securities or blue sky laws in connection with the offer, sale and distribution of the Common Shares by the Underwriter.
(f) The Selling Shareholders have not (i) taken, directly or indirectly, any action designed to cause or result in, or that has constituted or might reasonably be expected to constitute, the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Common Shares, (ii) distributed, and will not distribute, prior to the completion of the Underwriter’s distribution of the Shares, any offering material in connection with the offering and sale of the Shares other than a Preliminary Prospectus, Prospectus or the Registration Statement, or (iii) since the filing of the Registration Statement (A) sold, bid for, purchased or paid anyone any compensation for soliciting purchases of, the Common Shares or (B) paid or agreed to pay to any person any compensation for soliciting another to purchase any other securities of the Company, other than pursuant to this Agreement.
(g) Each of the Selling Shareholders severally and not jointly represents and warrants that certificates in negotiable form representing all of the Shares, to the extent such delivery is not made through the facilities of DTC, be sold by such Selling Shareholder or a security entitlement in respect Shareholders hereunder other than any such Shares to be issued upon the exercise of such Shares.
(d) The Power of Attorney and Custody Agreement has been duly authorizedOptions, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generallyhave been, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion each of the court before which any proceeding may be brought.
(e) Upon payment for Selling Shareholders who is selling Shares upon the exercise of Options represents and warrants that duly completed and executed irrevocable Option exercise notices, in the forms specified by the relevant Option Agreement, with respect to all of the Shares to be sold by such Selling Shareholder pursuant to this AgreementShareholders hereunder have been, delivery of such Shares, placed in custody under a Custodian Agreement (as directed by the Underwriters, to Cede & Co. (“Cede”defined below) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) relating to such Shares). Furthermore, (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 each of the UCC, (B) under Section 8-501 of Selling Shareholders specifically agrees that the UCC, Shares represented by the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCCcertificates, to the extent such Shares may be asserted against delivery is not made through the Underwriters with respect to such security entitlement; facilities of DTC, or the irrevocable Option exercise notice, in either case held in custody for purposes of this representation, such Selling Shareholder may assume under the Custodian Agreement, are subject to the interests of the Underwriter hereunder, and that when the arrangements made by such paymentSelling Shareholder for such custody, delivery and crediting the appointment by such Selling Shareholder of the Attorneys-in-Fact by the Power of Attorney, are to that extent irrevocable. Each of the Selling Shareholders specifically agrees that the obligations of such Selling Shareholder hereunder shall not be terminated by operation of law, whether by the death or incapacity of any individual Selling Shareholder, or, in the case of an estate or trust, by the death or incapacity of any executor or trustee or the termination of such estate or trust, or in the case of a partnership, corporation or similar organization, by the dissolution of such partnership, corporation or organization, or by the occurrence of any other event. If any individual Selling Shareholder or any such executor or trustee should die or become incapacitated, or if any such estate or trust should be terminated, or if any such partnership, corporation or similar organization should be dissolved, or if any other such event should occur, (x) before the delivery of the Shares hereunder, certificates representing such Shares will have been registered in shall be delivered, to the name extent such delivery is not made through the facilities of Cede or another nominee designated by DTC, in each case by or on the Company’s share registry behalf of such Selling Shareholder in accordance with its certificate the terms and conditions of incorporationthis Agreement and the Custodian Agreement, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within actions taken by the meaning of Section 8Attorneys-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made in-Fact pursuant to the UCCPowers of Attorney shall be as valid as if such death, incapacity, termination, dissolution or other event had not occurred, regardless of whether or not the Custodian, the Attorneys-in-Fact, or any of them, shall have received notice of such death, incapacity, termination, dissolution or other event.
(fh) Such Selling Shareholder is not prompted by any material The information concerning the Company or its subsidiaries which is not set forth in the Time section entitled “Selling Shareholders” was the only written information furnished to the Company by and on behalf of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The the Selling Shareholders expressly for use in connection with the preparation of the Registration Statement, when it became effective, did and is correct and complete in all material respects and does not contain and, as amended or supplemented, if applicable, will not contain include any untrue statement of a material fact or omit to state a any material fact required to be stated therein or necessary to make the statements therein not misleading, .
(iii) the Time of Sale Prospectus does not, and, at the time of With respect to each sale Selling Shareholder who is an executive officer of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date Company (as defined in Section 5a “Management Shareholder”), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit such Management Shareholder has no reason to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except believe that the representations and warranties of the Company contained in Section 1 of this Agreement are not true and correct, is familiar with the Registration Statement and has no knowledge of any material fact, condition or information not disclosed in the Registration Statement which has adversely affected or may adversely affect the business of the Company or any of its Subsidiaries, and the sale of those Selling Shareholder Firm Shares (or of any options convertible into Selling Shareholder Firm Shares) that are owned by such Management Shareholder pursuant to the terms of this Agreement is not prompted by any information concerning the Company or its Subsidiaries which is not set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, . Any certificate signed by the Time of Sale Prospectus, the Prospectus Selling Shareholders or any amendments authorized representative of any Selling Shareholder and delivered to the Underwriter or supplements theretoto counsel for the Underwriter shall be deemed a representation and warranty of the Selling Shareholders to the Underwriter as to the matters covered thereby. Any certificate delivered by the Selling Shareholders to their counsel for purposes of enabling such counsel to render an opinion pursuant to Section 9 will also be furnished to the Underwriter and counsel for the Underwriter and shall be deemed to be additional representations and warranties to the Underwriter by the Selling Shareholders as to the matters covered thereby.
Appears in 2 contracts
Samples: Underwriting Agreement (Benthos Inc), Underwriting Agreement (Benthos Inc)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit transactions contemplated hereby and by the Time of the Shares to be sold by such Selling Shareholder Sale Prospectus (the “Power of Attorney and Custody AgreementAttorney”) will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational formation documents of such Selling Shareholder (if such Selling Shareholder is another type of entity)Shareholder, (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various U.S. states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares, (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC and as interpreted under the laws of The Netherlands, to such Shares may be asserted against DTC or its nominee with respect to such security entitlement and (CD) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is has not prompted by entered into any material information concerning contractual arrangements relating to the offer, sale, distribution or delivery of the Shares or any other securities of the Company or its subsidiaries which is not set forth other than this Agreement and the arrangements disclosed in the Registration Statement, the Time of Sale Prospectus to sell its Shares pursuant to this Agreementor the Prospectus.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5)purchasers, the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, (iii) each broadly available road show, if any, when considered together with the Time of Sale Prospectus, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading and (iiiiv) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except provided that the representations and warranties set forth in this paragraph 2(g2(h) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus Prospectus, each broadly available roadshow or any amendments or supplements thereto.
Appears in 2 contracts
Samples: Underwriting Agreement (AerCap Holdings N.V.), Underwriting Agreement (AerCap Holdings N.V.)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder Shareholder, severally and not jointly, represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, and, in the Power case of Attorney and the Selling Shareholders named in Schedule I(b) hereto, the Custody Agreement signed by such Selling Shareholder and American Stock Transfer & Trust Company, LLC as Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Custody Agreement”) and the Power of Attorney appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder Registration Statement (the “Power of Attorney and Custody AgreementAttorney”) will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation or bylaws by-laws (or equivalent organizational documents) of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entitythan a natural person), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except except, in the cases case of clause clauses (i), (iii) as and (iv), for any such contraventions that would not, individually or in the aggregate, impair materially interfere with the consummation of the transactions contemplated by this Agreement and, in the case of the Selling Shareholders named in Schedule I(b) hereto, the Custody Agreement or the Power of Attorney or the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney perform its obligations hereunder and, if applicable, thereunder, and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required to be obtained by such Selling Shareholder for the performance by such Selling Shareholder of its obligations under this Agreement or, if applicable, the Custody Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the SharesShares or such as may have previously been obtained or made.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code (the “UCC”) in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances (in the case of the Selling Shareholders named in Schedule I(b) hereto, other than those created by the Custody Agreement and Power of Attorney) and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and, if applicable, the Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The In the case of the Selling Shareholders named in Schedule I(b) hereto, the Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, ,” within the meaning of Section 8-102 of the UCC, to such Shares may be successfully asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(g) (i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain contain, as of the date of such amendment or supplement, any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, andas of the date of this Agreement, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, (iii) each broadly available road show, if any, when considered together with the Time of Sale Prospectus, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading and (iiiiv) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, except that the representations and warranties set forth in this paragraph 2(g) are limited in all respects to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto, it being understood and agreed that the only information furnished by such Selling Shareholder consists of the name of such Selling Shareholder, the number of offered shares and the address and other information with respect to such Selling Shareholder (excluding percentages) which appear in the Time of Sale Prospectus in the table (and corresponding footnotes) under the caption “Principal and Selling Stockholders” (with respect to each Selling Shareholder, the “Selling Shareholder Information”).
(h) Such Selling Shareholder has executed a “lock-up” agreement, substantially in the form of Exhibit A hereto, relating to sales and certain other dispositions of shares of Common Stock or certain other securities, that is in full force and effect as of the date hereof and shall be in full force and effect as of the Closing Date.
Appears in 2 contracts
Samples: Underwriting Agreement (Performant Financial Corp), Underwriting Agreement (Performant Financial Corp)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally and not jointly represents and warrants to to, and agrees with with, each of the Underwriters as of the date hereof and as of the Closing Date that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Such Selling Shareholder ofhas full right, power and the performance by such Selling Shareholder of authority to execute and deliver this Agreement, to perform its obligations under, this Agreement hereunder and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement, the Registration Statement and the Prospectus. This Agreement or and the Power of Attorney transactions contemplated by this Agreement, the Registration Statement and Custody Agreement. No consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance Prospectus have been duly and validly authorized by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody . This Agreement has been duly authorized, and validly executed and delivered by such Selling Shareholder and is a constitutes the legal, valid and binding agreement obligation of such Selling Shareholder Shareholder, enforceable against such Selling Shareholder in accordance with its terms, except (i) as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generallygenerally and except as enforceability may be subject to general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).
(b) Such Selling Shareholder has full right, power and authority to execute and deliver a Custody Agreement and Power of Attorney substantially in the form of Exhibits D and E hereto (such Selling Shareholder’s “Custody Agreement” and “Power of Attorney”, respectively), to perform its obligations thereunder and to consummate the transactions contemplated thereby. The Custody Agreement and Power of Attorney and the transactions contemplated thereby have been duly and validly authorized by such Selling Shareholder. The Custody Agreement and Power of Attorney have each been duly and validly executed and delivered by such Selling Shareholder and constitute the legal, valid and binding obligation of such Selling Shareholder, enforceable in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally and except as enforceability may be subject to general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). Counterparts of such Selling Shareholder’s Custody Agreement, duly signed by (i) National City Bank, as custodian (in such capacity, the “Custodian”), and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and such Selling Shareholder have been delivered to the discretion Company and the Representatives on or prior to the date of the court before which any proceeding may be broughtthis Agreement.
(ec) Upon Such Selling Shareholder agrees that the Shares to be sold by such Selling Shareholder, whether or not on deposit with the Custodian, are subject to the interests of the Underwriters, that the arrangements made for such custody are to that extent irrevocable, and that the obligations of such Selling Shareholder hereunder shall not be terminated, except as provided in this Agreement or in the Custody Agreement and Power of Attorney, by any act of such Selling Shareholder, by operation of law or by the occurrence of any other event. If such Selling Shareholder should die or become incapacitated, or if any other event should occur affecting the legal status or capacity of such Selling Shareholder before the delivery of the Selling Shareholders’ Shares to be sold by a Selling Shareholder hereunder, the documents evidencing the Selling Shareholders’ Shares, to be sold by such Selling Shareholder then on deposit with the Custodian shall be delivered by the Custodian in accordance with the terms and conditions of this Agreement as if such event had not occurred, regardless of whether or not the Custodian shall have received notice thereof.
(d) Such Selling Shareholder has, and on the Closing Date, will have, good and valid title to and is the lawful owner of the Shares to be sold by such Selling Shareholder hereunder and upon sale and delivery of, and payment for, such Shares as provided herein, such Selling Shareholder will convey to the Underwriters good and marketable title to such Shares, free and clear of all Liens. Certificates for all of the Shares to be sold by such Selling Shareholder pursuant to this Agreement, in suitable form for transfer by delivery or accompanied by duly executed instruments of such Sharestransfer or assignment in blank with signatures guaranteed, as directed by have been placed in custody with the Underwriters, Custodian with irrevocable conditional instructions to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of deliver such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(e) No Consent of, from or with any judicial, regulatory or other legal or governmental agency or body or any third party, foreign or domestic, is required for the execution, delivery and performance by such Selling Shareholder of this Agreement or its Custody Agreement and Power of Attorney, or consummation by the Selling Shareholders of the transactions contemplated herein or therein, except such as have been obtained under the Securities Act and such as may be required under the state securities laws, the blue sky laws of any jurisdiction, the NASD or NASDR in connection with the purchase and distribution of such Selling Shareholder’s Shares by the Underwriters.
(f) The execution, delivery and performance of this Agreement, the Power of Attorney and the Custody Agreement by such Selling Shareholder and consummation of any of the other transactions contemplated herein and therein by the Selling Shareholder or the fulfillment of the terms hereof by the Selling Shareholder will not (i) The conflict with, result in a breach or violation of, or constitute a default (or an event that with notice or lapse of time, or both, would constitute a default) under, or result in the creation or imposition of any lien, charge or encumbrance upon any property or assets of the Selling Shareholder pursuant to any law, statute, rule or regulation or the terms of any indenture or other agreement or instrument to which such Selling Shareholder is party or bound, or to which any of the property or assets of such Selling Shareholder is subject, or (ii) if such Selling Shareholder is not a natural person, result in any violation of the provisions of any charter or bylaws or certificate of formation, trust agreement, partnership agreement, articles of partnership or other organizational documents, as applicable, of the Selling Shareholder, or (iii) result in any violation or breach of any judgment, order, decree statute, rule or regulation applicable to such Selling Shareholder of any court or any public, governmental or regulatory agency or body, administrative agency or arbitrator having jurisdiction over such Selling Shareholder.
(g) Such Selling Shareholder does not have any registration or other similar rights to have any equity or debt securities registered for sale by the Company under the Registration Statement or included in the Offering, except for such rights as have been waived or which are described in the Prospectus (and which have been complied with).
(h) Such Selling Shareholder does not have, or has waived prior to the date hereof, any preemptive right, co-sale right or right of first refusal or other similar right to purchase any of the Shares that are to be sold by the Company or any other Selling Shareholder to the Underwriters pursuant to this Agreement; and such Selling Shareholder does not own any warrants, options or similar rights to acquire, and does not have any right or arrangement to acquire, any capital stock, right, warrants, options or other securities from the Company, other than those described in the Registration Statement and the Prospectus.
(i) Except as disclosed in the Prospectus, there are no contracts, agreements or understandings between such Selling Shareholder and any person that would give rise to a valid claim against the Company or any Underwriter for a brokerage commission, finder’s fee or other like payment in connection with this offering or, to such Selling Shareholder’s knowledge, any other arrangements, agreements, understandings, payments or issuance with respect to the Company or any of its officers, directors, shareholders, partners, employees, Subsidiaries or affiliates that may affect the Underwriters’ compensation as determined by the NASD.
(j) At the time of the effectiveness of the Registration Statement or any Rule 462(b) Registration Statement or the effectiveness of any post-effective amendment to the Registration Statement, when it became effectivethe Prospectus is first filed with the Commission pursuant to Rule 424(b) of the Rules and Regulations, when any supplement to or amendment of the Prospectus is filed with the Commission and at the Closing Date and the Additional Closing Date, if any, the Registration Statement and the Prospectus and any amendments thereof and supplements thereto complied or will comply in all material respects with the applicable provisions of the Securities Act, the Exchange Act and the Rules and Regulations and did not contain and, as amended or supplemented, if applicable, and will not contain any an untrue statement of a material fact or and did not and will not omit to state a any material fact required to be stated therein or necessary in order to make the statements therein (i) in the case of the Registration Statement, not misleading, misleading and (ii) in the Time of Sale Prospectus does not, and, at the time of each sale case of the Shares Prospectus or any related Preliminary Prospectus in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. When any related Preliminary Prospectus was first filed with the Commission (whether filed as part of the registration statement for the registration of the Shares or any amendment or supplement thereto or pursuant to Rule 424 under the Securities Act) and when any amendment thereof or supplement thereto was first filed with the Commission, such Preliminary Prospectus and (iii) any amendments thereof and supplements thereto complied in all material respects with the Prospectus does applicable provisions of the Securities Act and the Rules and Regulations and did not contain and, as amended or supplemented, if applicable, will not contain any an untrue statement of a material fact or and did not omit to state a any material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, except . The two preceding sentences apply only to the extent that the representations and warranties set forth any statements in this paragraph 2(g) are limited to statements or omissions from the Registration Statement, the Preliminary Prospectus or the Prospectus are made in reliance upon and in conformity with written information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use therein, it being agreed that the only such information is that which is included under the headings “Selling Shareholders” which relates to such Selling Shareholder.
(k) Such Selling Shareholder has reviewed and is familiar with the Registration Statement and the Prospectus and (i) has no knowledge of any material adverse information with regard to the Company or the Subsidiaries which is not disclosed in the Registration StatementStatement and the Prospectus and (ii) is not prompted to sell the Shares to be sold by the Selling Shareholder by any information concerning the Company or any Subsidiary which is not set forth in the Registration Statement and the Prospectus.
(l) Such Selling Shareholder has not taken and will not take, directly or indirectly, any action designed to, or that could be reasonably expected to, cause or result in stabilization or manipulation of the Time price of Sale the Common Stock to facilitate the sale or resale of the Shares.
(m) Such Selling Shareholder has not distributed and will not distribute, prior to the later of the Additional Closing Date, if any, and the completion of the Underwriters’ distribution of the Shares, any offering material in connection with the offering and sale of the Shares by the Selling Shareholders other than a Preliminary Prospectus, the Prospectus or any amendments the Registration Statement.
(n) The representations and warranties of such Selling Shareholder in its Custody Agreement and Power of Attorney are, and on the Closing Date will be, true and correct. Any certificate signed by or supplements theretoon behalf of the Selling Shareholder and delivered to the Representatives or to counsel for the Underwriters shall be deemed to be a representation and warranty by such Selling Shareholder to each Underwriter as to the matters covered thereby.
Appears in 2 contracts
Samples: Underwriting Agreement (Albemarle Corp), Underwriting Agreement (Albemarle Corp)
Representations and Warranties of the Selling Shareholders. Each In addition to the representations and warranties set forth above, each Selling Shareholder Shareholder, severally and not jointly, represents and warrants to and agrees with each of the Underwriters Underwriter that:
(a) This Agreement has been duly authorizedSuch Selling Shareholder is, executed and delivered at the time of delivery of the Offered Shares to be sold by or such Selling Shareholder hereunder on behalf any Closing Date will be, the lawful and beneficial owner of such Offered Shares and has, and at the time of delivery of such Offered Shares or ADSs will have, valid and marketable title to such Offered Shares or ADSs, and upon sale and delivery of, and payment for, such Offered Shares or ADSs, as provided herein, such Selling ShareholderShareholder will convey good and marketable title to such Offered Shares or ADSs, free and clear of any security interests, liens, encumbrances, equities or claims.
(b) Such Selling Shareholder has full right, power and capacity to enter into this Agreement and the escrow agreement between Brunswick UBS Russia Limited, as escrow agent (the “External Escrow Agent”), you and each of the Selling Shareholders (the “External Escrow Agreement”) and to perform its obligations hereunder and thereunder, and each of this Agreement and the External Escrow Agreement has been duly executed and delivered by the Selling Shareholder; and in deciding to sell the Offered Shares or ADSs to be sold by him or it hereunder, the Selling Shareholder has relied upon his own judgment and such independent financial and legal advice as he has seen fit to obtain, and has not relied upon any of the Underwriters or their advisers for any such advice.
(c) The deposit with the Depositary by such Selling Shareholder of the Offered Shares to be sold by him or it against issuance of ADRs evidencing ADSs, the execution and delivery by such Selling Shareholder of, of this Agreement and the External Escrow Agreement and the performance by such Selling Shareholder of its obligations underhereunder and thereunder, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) will not contravene (i) do not require any provision of applicable law, (ii) the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No consent, approval, authorization or order of, or filing or qualification with, any governmental agency or body or any court except such as have been obtained and such as may be required under the securities or “blue sky” laws of any jurisdiction in connection with the purchase and distribution by the Underwriters of the Offered Shares or ADSs in the manner contemplated herein and in the Final Prospectus and (ii) will not conflict with or result in a breach or violation of any of the terms and provisions of, or constitute a default under, (A) any statute, or any rule, regulation or order of any governmental agency or body or any court applicable to such Selling Shareholder, (B) any agreement or instrument to which such Selling Shareholder is required a party or by which such Selling Shareholder is bound or to which any of their respective properties is subject.
(d) No stamp or other issuance or transfer taxes or duties and no withholding or other taxes are payable by or on behalf of the Underwriters to the Russian Federation or any political subdivision or taxing authority thereof or therein (except any income, capital gains, withholding or other taxes imposed upon the Underwriters that would not have been imposed but for a connection between the performance Underwriters and the jurisdiction imposing such taxes, other than a connection arising as a result of the transaction contemplated by this Agreement, the Deposit Agreement or the External Escrow Agreement) in connection with (i) the sale and delivery by such Selling Shareholder of its obligations under this Agreement the Offered Shares to be sold by him or it, (ii) the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by deposit with the securities or blue sky laws and regulations Depositary of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Offered Shares to be sold by such Selling Shareholder free against the issuance of ADRs evidencing ADSs or (iii) the sale and clear of all security interests, claims, liens, equities or other encumbrances and delivery by the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect Underwriters of such Shares.
(d) The Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium Offered Shares or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and ADSs to the discretion of initial purchasers thereof in the court before which any proceeding may be broughtmanner contemplated in the Final Prospectus.
(e) Upon payment for the Shares In order to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by document the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by ’ compliance with the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee reporting and the crediting of such Shares on the books of DTC to securities accounts withholding provisions of the Underwriters (assuming that neither DTC nor any such Underwriter has notice Tax Equity and Fiscal Responsibility Act of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters 1982 with respect to such security entitlement; for purposes of this representationthe transactions herein contemplated, such Selling Shareholder may assume that when such paymentwill deliver to you prior to or at the First Closing Date a properly completed and executed United States Treasury Department Form W-8, delivery and crediting occurW-9, (x) such Shares will have been registered or other applicable form or statement specified by Treasury Department regulations in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCClieu thereof.
(f) Such Selling Shareholder is not prompted by has taken all actions necessary to dispose of the proceeds from the sale of the Offered Shares in accordance with, and has taken no action which could have the effect of disposing of the proceeds from the sale of the Offered Shares in any material information concerning way differing from, the Company or its subsidiaries which is not set forth description of their disposition in the Time Final Prospectus under the sections entitled “Prospectus Summary—The Offering—Escrow of Sale Prospectus to sell its Shares pursuant to this Agreementproceeds and registration of placement report” and “Escrow of Proceeds and Registration of Placement Report.”
(ig) The When the Registration StatementStatement becomes effective and at all times subsequent thereto through the latest Closing Date or the termination of the offering of the Offered Shares, when it became effectivethe Registration Statement and Final Prospectus, did not contain andand any supplements or amendments thereto, in each case, as amended or supplemented, if applicable, relate to such Selling Shareholder will not contain any an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, ;
(iih) The sale of such Selling Shareholder’s Offered Shares or ADSs pursuant to this Agreement is not prompted by any information concerning the Time of Sale Prospectus does not, and, at Company which is not set forth in the time Final Prospectus.
(i) The execution and delivery by each Selling Shareholder of each sale transaction document to which he is a party, and the consummation of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended transactions contemplated hereby or supplemented thereby by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicablesuch Selling Shareholder, will not contain require the consent of any untrue statement spouse of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished pursuant to the Company in writing by such Selling Shareholder expressly for use in applicable laws of any jurisdiction, including, but not limited to, those of the Registration StatementFederal Republic of Germany and of the Russian Federation, the Time of Sale Prospectus, the Prospectus or any amendments or supplements theretoexcept as have been obtained.
Appears in 2 contracts
Samples: Underwriting Agreement, Underwriting Agreement (Mechel Steel Group OAO)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder Shareholder, severally represents and not jointly, represents, warrants to and covenants to, and agrees with with, each of the Underwriters that, as of the date hereof and as of the Closing Date and any Additional Closing Date:
(a) This Agreement has been duly authorized, executed Such Selling Shareholder is the record and delivered beneficial owner of the Additional Shares to be sold by or on behalf it hereunder free and clear of all Liens. Delivery of the Additional Shares to be sold by such Selling ShareholderShareholder and payment therefor pursuant to this Agreement will pass valid title to such Additional Shares, free and clear of any adverse claim within the meaning of Section 8-102 of the New York Uniform Commercial Code, to each Underwriter who has purchased such Shares without notice of an adverse claim.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder and American Stock Transfer & Trust Company, as Custodian, relating to the deposit of the Additional Shares to be sold by such Selling Shareholder (the “Custody Agreement”) and the Power of Attorney appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder Registration Statement (the “Power of Attorney and Custody AgreementAttorney”) will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation incorporation, by-laws or bylaws other organizational instrument or document of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Custody Agreement or Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect ofThis Agreement, the Shares Custody Agreement, the Power of Attorney and the “lock-up” agreement attached as Annex I hereto to be sold executed by such Selling Shareholder free each constitute the valid and clear binding agreement of all security interestssuch Selling Shareholder, claimsenforceable in accordance with its terms, liensexcept as the enforcement thereof may be limited by bankruptcy, equities insolvency, reorganization, moratorium or other encumbrances similar laws relating to or affecting the rights and remedies of creditors or by general equitable principles, and the legal right consummation by such Selling Shareholder of the transactions contemplated hereby and powerthereby will not: (i) conflict with or result in a breach or violation of any of the terms or provisions of, and or constitute a default under, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which such Selling Shareholder is a party or by which such Selling Shareholder is bound or to which any of the property or assets of such Selling Shareholder is subject, (ii) result in any violation, as applicable, of the governing documents of such Selling Shareholder, if any, or (iii) result in the violation of any statute or any order, rule or regulation known to such counsel of any court or governmental agency or body having jurisdiction over such Selling Shareholder or any of their properties or assets.
(d) Such Selling Shareholder has all authorization and approval required by law, law to enter into this Agreement and Agreement, the Custody Agreement, the Power of Attorney and Custody Agreement the “lock-up” agreement attached as Annex I hereto and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(e) Upon payment No consent, approval, authorization or order of or filing with any Israeli or U.S. court or governmental agency or body is required for the Shares to be sold consummation by such Selling Shareholder pursuant to this Agreementof the transactions contemplated hereby, delivery of except such Shares, as directed by may have been obtained under the Underwriters, to Cede & Co. (“Cede”) or Act and such other nominee as may be designated required under the blue sky laws of any jurisdiction in connection with the purchase and distribution of the Additional Shares by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or Underwriters and such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will approvals as have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCCobtained.
(f) Such Selling Shareholder has not taken, directly or indirectly, any action designed to or that would constitute or that might reasonably be expected to cause or result in, under the Exchange Act or otherwise, stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Shares.
(g) The sale of Additional Shares by such Selling Shareholder pursuant to this Agreement is not prompted by the knowledge by such Selling Shareholder of any “material information non-public information” concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this AgreementCompany.
(h) Such Selling Shareholder has reviewed the General Disclosure Package and, to the knowledge of such Selling Shareholder, the information regarding such Selling Shareholder (including, without limitation, the Ordinary Share ownership of such Selling Shareholder) in the General Disclosure Package: (i) The Registration Statementis accurate and complete in all material respects, when it became effective, did not contain and, as amended or supplemented, if applicable, will and (ii) does not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements appearing therein not misleading, (ii) the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, misleading in the light of the circumstances under in which they were made.
(i) No stamp or other issuance or transfer taxes or duties and no capital gains, not misleadingincome, withholding or other taxes are payable by or on behalf of the Underwriters to the State of Israel or to any political subdivision or taxing authority thereof or therein in connection with the sale and delivery by the Underwriters of the Additional Shares being sold by such Selling Shareholder as contemplated herein.
(iiij) Neither the Prospectus does not contain andSelling Shareholder nor any of his immediate family members or affiliates, as amended either directly or supplementedindirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, or has any other association with (within the meaning of Article I, Section 1(m) of the By-laws of the NASD), any member firm of the NASD. Any certificate signed by any Selling Shareholder or, if applicable, will not contain any untrue statement authorized officer of a material fact any Selling Shareholder, and delivered to the Underwriters or omit to state a material fact necessary to make counsel for the statements therein, Underwriters in connection with the light offering of the circumstances under which they were made, not misleading, except that the representations Additional Shares shall be deemed a representation and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing warranty by such Selling Shareholder expressly for use in the Registration StatementShareholder, the Time of Sale Prospectusas to matters covered thereby, the Prospectus or any amendments or supplements theretoto each Underwriter.
Appears in 2 contracts
Samples: Underwriting Agreement (IncrediMail Ltd.), Underwriting Agreement (IncrediMail Ltd.)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Agreement and Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s 's attorneys-in-fact to the extent set forth therein and therein, relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder Registration Statement (the “Power of Attorney and Custody Agreement”"POWER OF ATTORNEY") will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation or bylaws by-laws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entitya corporation), (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states or any applicable law, rule or regulation of any foreign jurisdiction in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “"security entitlement” " within the meaning of Section 8-501 of the New York Uniform Commercial Code (the "UCC") in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by lawlaw or the certificate of incorporation or by-laws or other organizational documents of such Selling Shareholder (if such Selling Shareholder is not a natural person), to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”"CEDE") or such other nominee as may be designated by the The Depository Trust Company (“"DTC”"), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “"protected purchaser” " of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “"adverse claim”", within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s 's share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “"clearing corporation” " within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, misleading and (ii) the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except ; PROVIDED that the representations and warranties set forth in this paragraph 2(g2(f) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto.
(g) Such Selling Shareholder has not taken and will not take, directly or indirectly, any action which is designed to or which has constituted or which might reasonably be expected to cause or result in stabilization or manipulation of the price of any security of the Company or CME to facilitate the sale or resale of the Shares.
(h) In order to document the Underwriters' compliance with the reporting and withholding provisions of the Tax Equity and Fiscal Responsibility Act of 1982 with respect to the transactions herein contemplated, such Selling Shareholder will deliver to the Representatives prior to or at the Closing Date a properly completed and executed U.S. Treasury Department Form W-9 (or other applicable form or statement specified by the U.S. Treasury Department regulations in lieu thereof).
(i) Except as disclosed by such Selling Shareholder in writing to the Representatives, neither such Selling Shareholder nor any of his, her or its affiliates directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, or has any other association with (within the meaning of Article 1(q) of the By-laws of the National Association of Securities Dealers, Inc. (the "NASD")), any member firm of the NASD.
Appears in 2 contracts
Samples: Underwriting Agreement (Chicago Mercantile Exchange Holdings Inc), Underwriting Agreement (Chicago Mercantile Exchange Holdings Inc)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally severally, and not jointly, represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals and American Stock Transfer & Trust Company, LLC, as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) incorporation, by-laws or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entitya corporation), (iii) or any agreement or other instrument binding upon such Selling Shareholder that is material to such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for as may have been obtained prior to the time of the execution of this Agreement or such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code (the “UCC”) in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares, except for any claims, liens, equities or other encumbrances arising under the Custody Agreement.
(d) The Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) In the case of Xx. Xxxxxxx Xxxxxx, such Selling Shareholder has no reason to believe that the representations and warranties of the Company contained in Section 1 are not true and correct, is familiar with the Registration Statement, the Time of Sale Prospectus and the Prospectus and has no knowledge of any material fact, condition or information not disclosed in the Time of Sale Prospectus or the Prospectus that has had, or may have, a material adverse effect on the Company and its subsidiaries, taken as a whole.
(g) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(ih) The To the extent that any statements or omissions made in the Registration StatementStatement are made in reliance upon and in conformity with written information furnished to the Company by such Selling Shareholder for inclusion therein, the Registration Statement did not, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any an untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and misleading with respect to such information.
(iiii) To the extent that any statements or omissions made in the Prospectus does not contain andare made in reliance upon and in conformity with written information furnished to the Company by such Selling Shareholder for inclusion therein, the Prospectus will not, as amended or supplementedof its date, if applicable, will not contain any an untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except misleading with respect to such information.
(j) To the extent that the representations and warranties set forth in this paragraph 2(g) are limited to any statements or omissions made in the Time of Sale Prospectus or a broadly available road show, if any, are made in reliance upon and in conformity with written information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in inclusion therein, neither the Registration StatementTime of Sale Prospectus nor such road show, when considered together with the Time of Sale Prospectus, as of its date, contained an untrue statement of a material fact or omitted to state a material fact necessary to make the Prospectus or any amendments or supplements theretostatements therein, in the light of the circumstances under which they were made, not misleading with respect to such information.
Appears in 1 contract
Samples: Underwriting Agreement (Sagent Pharmaceuticals, Inc.)
Representations and Warranties of the Selling Shareholders. (a) Each of the Selling Shareholder Shareholders, severally and not jointly, represents and warrants to and agrees with each of the Underwriters that:
(ai) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(bii) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals and the Company, as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “"CUSTODY AGREEMENT") and the Power of Attorney appointing certain individuals as such Selling Shareholder's attorneys-in-fact to the extent set forth therein, relating to the transactions contemplated hereby and Custody Agreement”) by the Registration Statement (the "POWER OF ATTORNEY"), will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation (or bylaws similar charter) or by-laws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entitya corporation), (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Custody Agreement or Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(ciii) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, to the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such SharesShareholder.
(div) The Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(ev) Upon payment for Delivery of the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, Agreement will pass title to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in free and clear of any security interests, claims, liens, equities and other encumbrances.
(b) Each of the name of Cede or such other nominee Selling Founder Shareholders, severally and the crediting of such Shares on the books of DTC not jointly, represents and warrants to securities accounts and agrees with each of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
that: (i) The the Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Registration Statement and the Prospectus does not, comply and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Companysupplemented, if applicable, will not, contain any untrue statement of a comply in all material fact or omit to state a material fact necessary to make respects with the statements therein, in Securities Act and the light applicable rules and regulations of the circumstances under which they were made, not misleading, Commission thereunder and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g2(b) are limited do not apply to statements or omissions made in reliance the Registration Statement or the Prospectus based upon information relating to any Underwriter furnished to the Company in writing by such Underwriter through you expressly for use therein.
(c) Each of the Selling Management Shareholders, severally and not jointly, represents and warrants to and agrees with each of the Underwriters that such Selling Management Shareholder has reviewed and is familiar with the Registration Statement and the Prospectus (or, if the Prospectus is not in conformity existence, the most recent preliminary prospectus) and, to the knowledge of such Selling Management Shareholder without independent investigation or verification:
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Registration Statement and the Prospectus comply and, as amended or supplemented, if applicable, will comply in all material respects with the Securities Act and the applicable rules and regulations of the Commission thereunder and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(c) do not apply to statements or omissions in the Registration Statement or the Prospectus based upon information relating to any Underwriter furnished to the Company in writing by such Underwriter through you expressly for use therein.
(d) Each of the Selling Non-Affiliate Shareholders, severally and not jointly, represents and warrants to and agrees with each of the Underwriters that: (i) the Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Registration Statement and the Prospectus comply and, as amended or supplemented, if applicable, will comply in all material respects with the Securities Act and the applicable rules and regulations of the Commission thereunder and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(d) shall apply only to statements or omissions in the Registration Statement or the Prospectus based upon information relating to such Selling Non-Affiliate Shareholder furnished to the Company in writing by or on behalf of such Selling Non-Affiliate Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements theretotherein.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder Shareholder, severally and not jointly, represents and warrants to and agrees with each of the Underwriters Underwriter and the Company, solely as to itself, that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Custody Agreement and Power of Attorney and (the “Custody Agreement and Power of Attorney”) signed by such Selling Shareholder and the Custodian and Attorneys-in-Fact referenced therein, relating to the deposit of the Shares to be sold by such Selling Shareholder and appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) Registration Statement will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (i.e., the certificate of incorporation and by-laws if such Selling Shareholder is another type of entitya corporation), (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Custody Agreement and Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the SharesShares and such as may have previously been made or obtained.
(c) Such Selling Shareholder hashas on the date hereof, and on the Closing Date such Selling Shareholder will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code (the “UCC”) in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Custody Agreement and Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the UnderwritersUnderwriter, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of transfer of such Shares in the stock registry of the Company in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts account of the Underwriters Underwriter (assuming that neither DTC nor any such the Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters Underwriter will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be successfully asserted against the Underwriters Underwriter with respect to such security entitlementshares; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters Underwriter on the records of DTC will have been made pursuant to the UCC.
(f) Such The sale of Shares by such Selling Shareholder pursuant hereto is not prompted by any material non-public historical information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreementsubsidiaries.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Registration Statement and the Prospectus comply and, as amended or supplemented, if applicable, will comply in all material respects with the Securities Act and the applicable rules and regulations of the Commission thereunder, (iii) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, (iv) each broadly available road show, if any, when considered together with the Time of Sale Prospectus, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading and (iiiv) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, except that (1) the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with written information relating to such Selling Shareholder furnished provided to the Company in writing by or on behalf of such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale ProspectusProspectus or the Prospectus and (2) the representations and warranties set forth in this paragraph 2(g) do not apply to statements or omissions in the Registration Statement, the Time of Sale Prospectus or the Prospectus based upon information relating to the Underwriter furnished to the Company in writing by the Underwriter through you expressly for use therein.
(h) Such Selling Shareholder has not taken and will not take, directly or indirectly, any amendments action which is designed to or supplements theretowhich has constituted or which might reasonably be expected to cause or result in stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of its Shares. \
(i) Except as disclosed by such Selling Shareholder in writing to Mxxxxx Sxxxxxx, neither such Selling Shareholder nor any of his, her or its affiliates directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, or has any other association with (within the meaning of Article 1(q) of the Bylaws of the National Association of Securities Dealers, Inc. (the “NASD”)), any member firm of the NASD.
Appears in 1 contract
Samples: Underwriting Agreement (Premium Standard Farms, Inc.)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally (except as otherwise indicated) represents and warrants to warrants, for such Selling Shareholder only and not for any other Selling Shareholder, to, and agrees with with, each of the Underwriters thatas of the date hereof, and as of the Closing Date and the Option Closing Date, if any, as follows:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Such Selling Shareholder ofhas full right, power and the performance by such Selling Shareholder of its obligations underauthority to enter into this Agreement, this Agreement and the Power of Attorney (the "Power of Attorney") and the Custody Agreement signed by (the "Custody Agreement") hereinafter referred to and at the date hereof such Selling Shareholder appointing certain individuals as has, and at the time of delivery of the Selling Shareholder Shares to the Underwriters hereunder such Selling Shareholder’s attorneys-in-fact Shareholder will have, full right, power and authority to sell and deliver the extent set forth therein and relating to the deposit of the Selling Shareholder Shares to be sold by such Selling Shareholder (to the “Power of Attorney Underwriters, and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) at the certificate of incorporation or bylaws of date hereof such Selling Shareholder (if is, and at the time of delivery of Selling Shareholders Shares to the Underwriters such Selling Shareholder is an entity) or other organizational documents will be, the lawful owner of and has, and will have, marketable title to such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree shares free and clear of any governmental bodyclaims, agency liens, encumbrances or court having jurisdiction over such Selling Shareholdersecurity interests.
(b) The performance of this Agreement, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and the Custody Agreement. No consent, approvaland the consummation of the transactions herein and therein contemplated, authorization will not conflict with or order result in a breach of, or filing or qualification withdefault under, any governmental body agreement, indenture or agency is required for the performance by other instrument to which such Selling Shareholder of its obligations under this Agreement is a party or by which such Selling Shareholder is bound, or any law, rule, administrative regulation or court decree. This Agreement, the Power of Attorney and the Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement has have been duly validly authorized, executed and delivered by such Selling Shareholder and is a each constitutes the valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(ec) Upon payment for When the Shares to be sold by such Selling Shareholder pursuant to this AgreementRegistration Statement becomes effective, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCCat all times subsequent thereto, the Underwriters will acquire a valid security entitlement in respect of such Shares Registration Statement and (C) no action based on Prospectus and any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery amendments thereof and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, supplements thereto will not contain any untrue statement of a material fact regarding such Selling Shareholder or omit to state a material fact regarding such Selling Shareholder required to be stated therein or necessary in order to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to regarding such Selling Shareholder furnished not misleading.
(d) Such Selling Shareholder has not taken and will not take, directly or indirectly, any action designed to cause or result in, or which has constituted or which might reasonably be expected to constitute, the Company stabilization or manipulation of the price of the shares of Common Stock to facilitate the sale or resale of the Common Stock.
(e) Certificates in writing negotiable form representing all of the Selling Shareholder Shares to be sold by such Selling Shareholder expressly for use have been placed in custody under a Custody Agreement, in the Registration Statementform heretofore furnished to you, duly executed and delivered by such Selling Shareholder to the Time Company, as custodian (the "Custodian"), and such Selling Shareholder has duly executed and delivered a Power of Sale ProspectusAttorney, in the Prospectus or any amendments or supplements thereto.form heretofore furnished to you,
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each of the Selling Shareholder severally Shareholders represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals and ChaseMellon Shareholder Services, L.L.C., as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and Custodian relating to the deposit of the Shares to be sold by such Selling Shareholder (the “"Custody Agreement") and the Power of Attorney signed by such Selling Shareholder, appointing Xxxxxxx X. Xxxxxx as such Selling Shareholder's attorney-in-fact to the extent set forth therein, relating to the transactions contemplated hereby and Custody Agreement”by the Registration Statement (the "Power of Attorney") will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder that is material to such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the SharesShares and except such consent, approval, authorization, order or qualification which if not obtained would not impair the performance by such Selling Shareholder of its obligations under this Agreement.
(c) Such Selling Shareholder hashas or has the right to acquire, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, to the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such SharesShareholder.
(d) The Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(e) Upon payment for the Shares to be sold by such each Selling Shareholder pursuant to this Agreementas provided herein, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“"Cede”") or such other nominee as may be designated by the The Depository Trust Company (“"DTC”"), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to "securities accounts accounts" (as defined in Section 8-501 of the Uniform Commercial Code ("UCC")) of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of as such phrase is defined in Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares)), (A) DTC shall be a “"protected purchaser” " of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “"adverse claim”, within the meaning of " (as defined in Section 8-102 of the UCC, ) to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) ii the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited 2 only apply to statements or omissions made in reliance the Registration Statement or the Prospectus based upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder through you expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements theretotherein.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder Shareholder, severally and not jointly, represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power share transfer agreements, each to be dated the applicable Closing Date, pursuant to which the Shares to be sold by such Selling Shareholder will be transferred by such Selling Shareholder to the Underwriters in accordance with this Agreement (the “Share Transfer Agreements”) and (other than in the case of Attorney and Sensata Investment Company S.C.A.) the Custody Agreement and Agreement to Sell signed by such Selling Shareholder and Sensata Technologies, Inc., as Custodian, relating to the Shares to be sold by such Selling Shareholder (the “Custody Agreement”), the Power of Attorney appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit transactions contemplated hereby and by the Registration Statement (the “Power of Attorney”) and the private deeds of issuance, each to be dated the applicable Closing Date, pursuant to which the Shares to be sold by such Selling Shareholder will be issued to such Selling Shareholder in connection with the exercise by such Selling Shareholder of outstanding stock options (the “Power Deeds of Attorney and Custody AgreementIssuance”) will not contravene (i) any provision of applicable law, (ii) or the articles of organization, articles of association, certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) incorporation, by-laws or other organizational constituent documents of such Selling Shareholder (if such Selling Shareholder is another type of a corporation, Luxembourg société en commandite par actions or other business entity), (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Share Transfer Agreements, Custody Agreement, Power of Attorney and Custody Agreement or Deeds of Issuance of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement Attorney, as applicable, and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Custody Agreement and the Power of Attorney and Custody Agreement has Attorney, to the extent such Selling Shareholder is a party thereto, have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against Shareholder. The Share Transfer Agreements and the Deeds of Issuance, to the extent such Selling Shareholder in accordance with its termswill be a party thereto, except (i) as limited of each Closing Date, will have been duly authorized, executed and delivered by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, such Selling Shareholder and (ii) that the remedy will be valid and binding agreements of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtsuch Selling Shareholder.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(g) (i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Registration Statement and the Prospectus comply and, as amended or supplemented, if applicable, will comply in all material respects with the Securities Act and the applicable rules and regulations of the Commission thereunder, (iii) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, (iv) each broadly available road show, if any, when considered together with the Time of Sale Prospectus, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading and (iiiv) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited made only as to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by or on behalf of such Selling Shareholder expressly specifically for use in the preparation of the Registration Statement, the Time of Sale Prospectus, the Prospectus Statement or any amendments or supplements theretosuch other documents.
Appears in 1 contract
Samples: Underwriting Agreement (Sensata Technologies Holding N.V.)
Representations and Warranties of the Selling Shareholders. (a) Each Selling Shareholder severally represents and warrants to and agrees with each of the Underwriters Selling Shareholders severally represent and warrant to, and agree with, each Underwriter that:
(ai) This Agreement Such Selling Shareholder has been duly authorized, executed and delivered by or a Custody Agreement (the "Custody Agreement"), in the form heretofore delivered to the Representatives, with Continental Stock Transfer & Trust Company as custodian (the "Custodian"). Such Selling Shareholder has duly executed and delivered a power of attorney as provided for in the Custody Agreement and in the form heretofore delivered to the Representatives, (the "Power of Attorney") appointing Mark Cocchiola and Steven Venechanos as such Selling Shareholder's attxxxxxx-xx- xxxt (thx "Xxxxxxxxx-xx-Xact"). The Attorneys-in-Fact are authorized to execute, deliver and perform this Agreement on behalf of such Selling Shareholder, including, without limitation, the authority to determine the purchase price to be paid to each Selling Shareholder by the Underwriters as set forth in Section 3 of this Agreement. Certificates in negotiable form representing the Offered Shares to be sold by each Selling Shareholder hereunder shall be, following exercise of the warrant pursuant to which such Offered Shares are issued, deposited with the Custodian pursuant to the Custody Agreement for the purpose of delivery pursuant to this Agreement. Such Selling Shareholder agrees that the Offered Shares represented by the certificates to be on deposit with the Custodian pursuant to the Custody Agreement are held for the purpose of delivery pursuant to this Agreement. Such Selling Shareholder agrees that the Offered Shares represented by the certificates to be deposited with the Custodian are subject to the interests of the Underwriters hereunder, that the arrangements made for such custody and the appointment of the Attorneys-in-Fact are to that extent irrevocable, and that the obligations of such Selling Shareholder hereunder shall not be terminated, except as provided in this Agreement, by any act of such Selling Shareholder, by operation of law or otherwise, whether by the dissolution, reorganization, death, incapacity or other such event should occur before the delivery of the Offered Shares to be sold by the affected Selling Shareholder hereunder, the certificates for such Offered Shares shall be delivered by the Custodian in accordance with the terms and conditions of this Agreement, as if such dissolution, reorganization, death, incapacity, or other event had not occurred, regardless of whether or not the Custodian or Attorneys-in-Fact shall have received notice thereof.
(bii) The execution and delivery by such Such Selling Shareholder ofhas all requisite right, power and authority to enter into this Agreement, the performance by such Selling Shareholder of its obligations under, this Custody Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact has, or, in the case of shares of Common Stock to be issued upon exercise of Common Stock options, will have, all requisite right, power and authority to sell, transfer and deliver the extent set forth therein and relating to the deposit of the Offered Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder hashereunder, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect ofthis Agreement, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a constitute the legal, valid and binding agreement obligations of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its their respective terms, except (i) as enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium moratorium, fraudulent conveyance or other similar laws relating to or affecting creditors’ ' rights generallygenerally or by general principles of equity and rules of law governing specific performance, estoppel, waiver, injunctive relief and other equitable remedies (regardless of whether enforcement is sought in a proceeding at law or in equity) and except, as to this Agreement, as rights to indemnity and contribution may be limited by federal and state securities laws or principles of public policy.
(iii) The execution, delivery and performance of this Agreement, and the consummation of the transactions contemplated hereby and by the Prospectus, the Custody Agreement and the Power of Attorney do not and shall not, with or without the giving of notice or lapse of time or both, (i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, any indenture, mortgage or other agreement or instrument to which such Selling Shareholder is a party or by which such Selling Shareholder or any of the Offered Shares to be sold by such Selling Shareholder is bound, except for any such conflict, breach or violation which could not interfere with such Selling Shareholders performance under this Agreement and which would not result in any lien, charge, security interest or encumbrance on any of the Offered Shares to be sold by such Selling Shareholder, (ii) that the remedy any organizational document relating to such Selling Shareholder (including without limitation, any partnership agreement, articles of specific performance and injunctive and incorporation, bylaws or other forms governing instruments) or (iii) violate any existing, applicable law, rule, regulation, judgment, order or decree of equitable relief may be subject to equitable defenses and to the discretion any government, governmental instrumentality or court, domestic or foreign, having jurisdiction over such Selling Shareholder or any of the court before Offered Shares to be sold by such Selling Shareholder, except for any such conflict or violation which could not interfere with such Selling Shareholders performance under this Agreement and which would not result in any proceeding may lien, charge, security interest or encumbrance of any of the Offered Shares to be broughtsold by such Selling Shareholder.
(eiv) Upon payment All authorizations, approvals and consents necessary for the valid execution and delivery by such Selling Shareholder of the Custody Agreement and the Power of Attorney, the execution and delivery by or on behalf of such Selling Shareholder of this Agreement, and the sale and delivery of the shares to be sold by such Selling Shareholder hereunder (other than, at the time of the execution thereof, the issuance of the order of the Commission declaring the Registration Statement effective and such authorizations, approvals or consents as may be necessary under the state securities or Blue Sky laws and the bylaws, rules and pronouncements of the NASD), have been obtained and are in full force and effect.
(v) On the Closing Date and any Option Closing Date, such Selling Shareholder will be the lawful owner of the Offered Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by . On the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee Closing Date and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representationOption Closing Date, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered good and marketable title to such Offered Shares, free and clear of all liens, encumbrances, security interests or other restrictions (other than those created under the Custody Agreement).
(vi) On the Closing Date and any Option Closing Date, such Selling Shareholder will have full legal right, power and authorization, and any approval required by law, to sell, assign, transfer and deliver such Offered Shares in the name manner provided in this Agreement, the Power of Cede or another nominee designated by DTCAttorney and the Custody Agreement, in each case on the Company’s share registry in accordance with its certificate and upon delivery of incorporationand payment for such Offered Shares hereunder, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on will acquire good and marketable title to such Offered Shares free and clear of any lien, claim, security interest or other encumbrance, except any that may be created by the records of DTC will have been made pursuant to the UCCUnderwriters' own action.
(fvii) Such Selling Shareholder is not prompted to sell the Offered Shares to be sold by such Selling Shareholder hereunder by any material information concerning the Company or its subsidiaries which the Subsidiaries that is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this AgreementProspectus.
(iviii) The To the knowledge of such Selling Shareholder, such parts of the Registration Statement, when it became effective, did Statement and the Prospectus under the caption "Principal and Selling Shareholders" which specifically relate to such Selling Shareholder do not contain and, as amended or supplemented, if applicable, will not contain any an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein in light of the circumstances under which they were made not misleading, (ii) misleading and such part of the Time of Sale Preliminary Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading.
(ix) Such Selling Shareholder is not a party to any arrangements or undertakings, whether oral or written, nor has such Selling Shareholder made any payments for commissions, finder's fees or similar payments in connection with the transaction contemplated by this Agreement.
(x) Such Selling Shareholder has not distributed and will not distribute any offering material in connection with the offering and sale of the Offered Shares other than the Registration Statement, a Preliminary Prospectus, the Prospectus and other material, if any, permitted by the Act and the Regulations. Neither such Selling Shareholder nor any affiliate of such Selling Shareholder has taken or shall take any action designed, or that might be reasonably expected, to cause or result in stabilization or manipulation of the price of the Offered Shares.
(b) Each of Mark Cocchiola and Steven Venechanos (each a "Management Selling Sharexxxxxx" xxx xxllectxxxxx, xxx "Xxxxxement Selling Shareholders") severally represent and warrant to, and agree with each Underwriter that, to the knowledge of each Management Selling Shareholder, each of the Registration Statement and Prospectus does not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleadingmisleading and to the knowledge of such Management Selling Shareholder, and (iii) the Preliminary Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each of the Selling Shareholder severally Shareholders represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals and the Company, as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “"Custody Agreement") and the Power of Attorney appointing certain individuals as such Selling Shareholder's attorneys-in-fact to the extent set forth therein, relating to the transactions contemplated hereby and Custody Agreement”) by the Registration Statement (the "Power of Attorney"), will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation or bylaws by-laws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entitya corporation), (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Custody Agreement or Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, to the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such SharesShareholder.
(d) The Shares to be sold by such Selling Shareholder pursuant to this Agreement have been duly authorized and are validly issued, fully paid and non-assessable.
(e) The Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(ef) Upon payment for Delivery of the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters Agreement will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, pass title to such Shares may be asserted against the Underwriters with respect to such free and clear of any security entitlement; for purposes of this representationinterests, such Selling Shareholder may assume that when such paymentclaims, delivery liens, equities and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreementother encumbrances.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Registration Statement and the Prospectus does not, comply and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Companysupplemented, if applicable, will not, contain any untrue statement of a comply in all material fact or omit to state a material fact necessary to make respects with the statements therein, in Securities Act and the light applicable rules and regulations of the circumstances under which they were made, not misleading, Commission thereunder and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited do not apply to statements or omissions made in reliance the Registration Statement or the Prospectus based upon and in conformity with information relating to such Selling Shareholder any Underwriter furnished to the Company in writing by such Selling Shareholder Underwriter through you expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements theretotherein.
Appears in 1 contract
Samples: Underwriting Agreement (International Integration Inc)
Representations and Warranties of the Selling Shareholders. (a) Each of the Selling Shareholder Shareholders, severally and not jointly, represents and warrants to and agrees with each Underwriter as of the Underwriters thatdate hereof, and as of the Firm Shares Closing Date, as follows:
(ai) Such Selling Shareholder has caused certificates for the number of Shares to be sold by such Selling Shareholder hereunder to be delivered to American Stock Transfer & Trust Company (the "Custodian"), endorsed in blank or with blank stock powers duly executed, with a signature appropriately guaranteed, such certificates to be held in custody by the Custodian for delivery, pursuant to the provisions of this Agreement and an agreement dated ____________ among the Custodian and the Selling Shareholders substantially in the form attached hereto as Exhibit B (the "Custody Agreement").
(ii) This Agreement has and the Custody Agreement have each been duly authorized, executed and delivered by or on behalf of such Selling Shareholder and, assuming due authorization, execution and delivery by the other parties thereto, constitutes the valid and legally binding agreement of such Selling Shareholder, enforceable against such Selling Shareholder in accordance with its terms.
(biii) The execution and delivery by such Selling Shareholder of, of this Agreement and the performance by such Selling Shareholder of its obligations underunder this Agreement, this Agreement including the sale and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and relating to the deposit delivery of the Shares to be sold by such Selling Shareholder and the consummation of the transactions contemplated herein and compliance by such Selling Shareholder with its obligations hereunder, do not and will not, whether with our without the giving of notice or the passage of time or both, (the “Power of Attorney and Custody Agreement”A) will not violate or contravene (i) any provision of the charter or bylaws or other organizational instrument of such Selling Shareholder, if applicable, or any applicable law, (ii) the certificate of incorporation statute, regulation, or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) filing or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except (B) conflict with or constitute a breach of, or default under, or result in the cases creation or imposition of clause (iii) as would notany tax, individually lien, charge or in encumbrance upon the aggregate, impair the ability shares to be sold by such Selling Shareholder or any property or assets of such Selling Shareholder pursuant to consummate the transactions contemplated terms of any agreement or instrument to which such Selling Shareholder is a party or by this Agreement which such Selling Shareholder may be bound or to which any of the Power property or assets of Attorney and Custody Agreement. No such Selling Shareholder is subject or (C) require any consent, approval, authorization or order of, of or registration or filing with any court or qualification with, any governmental agency or body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholderhaving jurisdiction over it, except for such consents, approvals, authorizations, orders or qualifications as may be required under the Securities Act or by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the SharesShares which have been or will be effected in accordance with this Agreement.
(civ) Such Selling Shareholder hasis, and on the Firm Shares Closing Date will havebe, valid title tothe record owner of, or has a valid “security entitlement” entitlement (within the meaning of Section 8-501 105 of the New York Uniform Commercial Code Code) in respect of, the Shares to be sold by such Selling Shareholder free and clear of all any lien, claim, security interests, claims, liens, equities interest or other encumbrances encumbrance, including, without limitation, any restriction on transfer, except as otherwise described in the Registration Statement and the legal right and powerProspectus.
(v) Such Selling Shareholder has, and all authorization on the Firm Shares Closing Date will have, full legal right, power and authority, and any approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, assign, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Sharesthe manner provided by this Agreement.
(d) The Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be brought.
(evi) Upon delivery of and payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such each Underwriter has no notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)Code) to such Shares), (A) DTC shall be a “protected purchaser” of the several Underwriters will receive valid and unencumbered title to such Shares within free and clear of any lien, claim, mortgage, pledge, security interest or other encumbrance, and, under the meaning of Section 8-303 of the UCCNew York Uniform Commercial Code, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no an action based on any “an adverse claim”, within the meaning of Section 8-102 of the UCC, claim to such Shares title to such Shares, whether framed in conversion, replevin, constructive trust, equitable lien or other theory, may not be asserted against the Underwriters with respect several Underwriters.
(vii) All information relating to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when furnished in writing by such payment, delivery and crediting occur, (x) such Shares will have been registered Selling Shareholder expressly for use in the name of Cede or another nominee designated by DTCRegistration Statement and Prospectus is true, in each case on the Company’s share registry in accordance with its certificate of incorporationcorrect, bylaws and applicable lawcomplete, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will does not contain any untrue statement of a material fact or omit to state a any material fact required to be stated therein or necessary to make the statements therein such information not misleading.
(viii) Such Selling Shareholder has not taken and will not take, directly or indirectly, any action designed to or that might reasonably be expected to cause or result in stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Shares.
(ix) The representations and warranties of such Selling Shareholder in the Custody Agreement are true and correct.
(b) The Additional Selling Shareholder (as defined in section 4(k) below) also represents and warrants to each Underwriter as of the date hereof, and as of the Firm Shares Closing Date, as follows:
(i) Such Additional Selling Shareholder has granted an irrevocable power of attorney substantially in the form attached hereto as Exhibit C (the "Power of Attorney") to the persons named therein, on behalf of such Additional Selling Shareholder, to execute and deliver this Agreement and any other document necessary or desirable in connection with the transactions contemplated hereby and to deliver the Shares to be sold by such Additional Selling Shareholder pursuant hereto.
(ii) the Time Such Power of Sale Prospectus does notAttorney has been duly authorized, executed and delivered by or on behalf of such Additional Selling Shareholder and, at assuming due authorization, execution and delivery by the time other parties thereto, constitutes the valid and legally binding agreement of each sale such Additional Selling Shareholder, enforceable against such Additional Selling Shareholder in accordance with its terms. Any certificate signed by an officer of any Selling Shareholder and delivered to the Shares Underwriters or counsel for the Underwriters in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, Shares shall be deemed a representation and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing warranty by such Selling Shareholder expressly for use in the Registration StatementShareholder, the Time of Sale Prospectusas to matters covered thereby, the Prospectus or any amendments or supplements theretoto each Underwriter.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder Shareholder, severally and not jointly, represents and warrants to and agrees with each of the Underwriters and the Company, solely as to itself, that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Custody Agreement and Power of Attorney and Custody Agreement (the "CUSTODY AGREEMENT AND POWER OF ATTORNEY") signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneysand the Custodian and Attorneys-in-fact to the extent set forth therein and Fact referenced therein, relating to the deposit of the Shares to be sold by such Selling Shareholder (and appointing certain individuals as such Selling Shareholder's attorneys-in-fact to the “Power of Attorney extent set forth therein, relating to the transactions contemplated hereby and Custody Agreement”) by the Registration Statement will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (i.e., the certificate of incorporation and by-laws if such Selling Shareholder is another type of entitya corporation), (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Custody Agreement and Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the SharesShares and such as may have previously been made or obtained.
(c) Such Selling Shareholder hashas on the date hereof (other than (i) a Warrantholder with respect to Warrant Shares and (ii) Neon Capital Limited ("NEON") with respect to its Shares, for which a security interest has been granted in favor of HSBC Trustee (C.I.) Limited ("HSBC TRUSTEE") pursuant to a Trust Instrument dated 19 December 2003 between inter alia Neon and HSBC Trustee, which security interest will be released prior to payment to the Custodian with respect to the Shares to be sold by Neon pursuant to this Agreement), and on the Closing Date such Selling Shareholder (including (i) a Warrantholder and (ii) Neon) will have, valid title to, or a valid “"security entitlement” " within the meaning of Section 8-501 of the New York Uniform Commercial Code (the "UCC") in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares. In the case of a Warrantholder, such Selling Shareholder has valid title to the Warrants to be exercised for Warrant Shares free and clear of all security interests, claims, liens, equities or other encumbrances except those that may be imposed by the United States federal or state securities laws.
(d) The Custody Agreement and Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”"CEDE") or such other nominee as may be designated by the Depository Trust Company (“"DTC”"), registration of transfer of such Shares in the stock registry of the Company in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “"protected purchaser” " of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “"adverse claim”", within the meaning of Section 8-102 of the UCC, to such Shares may be successfully asserted against the Underwriters with respect to such security entitlementshares; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s 's share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “"clearing corporation” " within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such The sale of Shares by such Selling Shareholder pursuant hereto is not prompted by any material non-public historical information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreementsubsidiaries.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Registration Statement and the Prospectus does not, comply and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Companysupplemented, if applicable, will not, contain any untrue statement of a comply in all material fact or omit to state a material fact necessary to make respects with the statements therein, in Securities Act and the light applicable rules and regulations of the circumstances under which they were made, not misleading, Commission thereunder and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, except that that
(1) the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with written information relating to such Selling Shareholder furnished provided to the Company in writing by or on behalf of such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectusany preliminary prospectus, the Prospectus or any amendments or supplements theretothereto and (2) the representations and warranties set forth in this paragraph 2(g) do not apply to statements or omissions in the Registration Statement or the Prospectus based upon information relating to any Underwriter furnished to the Company in writing by such Underwriter through you expressly for use therein.
(h) Such Selling Shareholder has not taken and will not take, directly or indirectly, any action which is designed to or which has constituted or which might reasonably be expected to cause or result in stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of its Shares.
(i) Except as disclosed by such Selling Shareholder in writing to Xxxxxx Xxxxxxx, neither such Selling Shareholder nor any of his, her or its affiliates directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, or has any other association with (within the meaning of Article 1(q) of the Bylaws of the National Association of Securities Dealers, Inc. (the "NASD")), any member firm of the NASD.
Appears in 1 contract
Samples: Underwriting Agreement (Premium Standard Farms, Inc.)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally (except as otherwise indicated) represents and warrants to warrants, for such Selling Shareholder only and not for any other Selling Shareholder, to, and agrees with with, each of the Underwriters thatas of the date hereof, and as of the Closing Date and the Option Closing Date, if any, as follows:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Such Selling Shareholder ofhas full right, power and the performance by such Selling Shareholder of its obligations under, authority to enter into this Agreement and the Power of Attorney (the "Power of Attorney") and the Custody Agreement signed by (the "Custody Agreement") hereinafter referred to and at the date hereof such Selling Shareholder appointing certain individuals as has, and at the time of delivery of the Selling Shareholder Shares to the Underwriters hereunder such Selling Shareholder’s attorneys-in-fact Shareholder will have, full right, power and authority to sell and deliver the extent set forth therein and relating to the deposit of the Selling Shareholder Shares to be sold by such Selling Shareholder (to the “Power of Attorney Underwriters, and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) at the certificate of incorporation or bylaws of date hereof such Selling Shareholder (if is, and at the time of delivery of Selling Shareholders Shares to the Underwriters such Selling Shareholder is an entity) or other organizational documents will be, the lawful owner of and has, and will have, marketable title to such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree shares free and clear of any governmental bodyclaims, agency liens, encumbrances or court having jurisdiction over such Selling Shareholdersecurity interests.
(b) The performance of this Agreement, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and the Custody Agreement. No consent, approvaland the consummation of the transactions herein and therein contemplated, authorization will not conflict with or order result in a breach of, or filing or qualification withdefault under, any governmental body agreement, indenture or agency is required for the performance by other instrument to which such Selling Shareholder of its obligations under this Agreement is a party or by which such Selling Shareholder is bound, or any law, rule, administrative regulation or court decree. This Agreement, the Power of Attorney and the Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement has have been duly validly authorized, executed and delivered by such Selling Shareholder and is a each constitutes the valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(ec) Upon payment for When the Shares to be sold by such Selling Shareholder pursuant to this AgreementRegistration Statement becomes effective, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCCat all times subsequent thereto, the Underwriters will acquire a valid security entitlement in respect of such Shares Registration Statement and (C) no action based on Prospectus and any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery amendments thereof and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, supplements thereto will not contain any untrue statement of a material fact regarding such Selling Shareholder or omit to state a material fact regarding such Selling Shareholder required to be stated therein or necessary in order to make the statements therein regarding such Selling Shareholder not misleading.
(d) Such Selling Shareholder has not taken and will not take, (ii) directly or indirectly, any action designed to cause or result in, or which has constituted or which might reasonably be expected to constitute, the Time of Sale Prospectus does not, and, at the time of each sale stabilization or manipulation of the price of the shares of Common Stock to facilitate the sale or resale of the Common Stock.
(e) Certificates in negotiable form representing all of the Selling Shareholder Shares to be sold by such Selling Shareholder have been placed in custody under a Custody Agreement, in the form heretofore furnished to you, duly executed and delivered by such Selling Shareholder to the Company, as custodian (the "Custodian"), and such Selling Shareholder has duly executed and delivered a Power of Attorney, in the form heretofore furnished to you, appointing, each of Xxxxxxx X. Xxxxx and Xxxxxx X. Xxxxx as such Selling Shareholder's attorney-in-fact (together, the "Attorneys-in-Fact") with authority to execute and deliver this Agreement on behalf of such Selling Shareholders, to authorize the delivery of the Selling Shareholder Shares to be sold by such Selling Shareholders hereunder and otherwise to act on behalf of such Selling Shareholder in connection with the offering when transactions contemplated by this Agreement and the Prospectus is not yet available to prospective purchasers and at the Closing Date Custody Agreement.
(as defined f) The Selling Shareholder Shares held in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to custody for such Selling Shareholder furnished under the Custody Agreement are subject to the Company in writing interests of the Underwriters hereunder, and the arrangements made by such Selling Shareholder expressly for use such custody, as well as the appointment by such Selling Shareholder of the Attorney-in-Fact, are, to that extent, irrevocable. Each Selling Shareholder specifically agrees that the obligations of the Selling Shareholders hereunder shall not be terminated by operation of law, whether by the death or incapacity of any individual Selling Shareholder or by the occurrence of any other event. If any individual Selling Shareholder should die or become incapacitated, or if any other such event should occur, before the delivery of the Stock hereunder, certificates representing the Selling Shareholder Shares shall be delivered by or on behalf of such Selling Shareholder in accordance with the Registration Statementterms and conditions of this Agreement and of the Custody Agreement, and the Time actions taken by the Attorney-in-Fact pursuant to the Power of Sale ProspectusAttorney shall be as valid as if such death, incapacity or other event had not occurred, whether or not the Prospectus Custodian or any amendments the Attorney-in-Fact shall have received notice of such death, incapacity or supplements theretoother event.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each ---------------------------------------------------------- Selling Shareholder Shareholder, severally and not jointly, represents and warrants to and agrees with each of the Underwriters Underwriter that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation or bylaws of such Selling Shareholder (if such Such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in either the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky laws and regulations lawful owner of the various states in connection with the offer and sale number of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be brought.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this AgreementAgreement or is the lawful owner of securities convertible into or exercisable for at least the number of Shares to be sold by such Selling Shareholder, will be the lawful owner of the number of Shares to be sold by such Selling Shareholder pursuant to this Agreement at the time of purchase and will have valid and marketable title to such Shares at the time of purchase; upon delivery of and payment for such Shares the Underwriters will acquire valid and marketable title to such Shares free and clear of any claim, lien, encumbrance, security interest, community property right, restriction on transfer or other defect in title;
(b) Such Selling Shareholder has and at the time of delivery of such SharesShares (whether the time of purchase or additional time of purchase, as directed the case may be) will have, full legal right, power and capacity, and any approval required by law (other than those imposed by the UnderwritersAct, the NYSE and the securities or blue sky laws of certain jurisdictions), to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”)sell, registration of assign, transfer and deliver such Shares in the name of Cede or such other nominee manner provided in this Agreement; (c) This Agreement and the crediting of such Shares on Custody Agreement and Power-of- Attorney among the books of DTC to securities accounts Company, as custodian and the Selling Shareholders and the Representatives of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code Selling Shareholders (the “UCC”)"Custody Agreement") to such Shares), (A) DTC shall be a “protected purchaser” have been duly executed and delivered by or on behalf of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when and each is a legal, valid and binding agreement of such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry Selling Shareholder enforceable in accordance with its certificate of incorporationterms, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries subject to the accounts bankruptcy, insolvency, reorganization, moratorium and similar laws of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information general applicability relating to such Selling Shareholder furnished or affecting creditors rights and to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto.general equitable principles;
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally and not jointly represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, and, to the Power of Attorney and extent a party thereto, the Custody Agreement signed by such Selling Shareholder, the Company and Computershare Inc., as Custodian (the “Custodian”), relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Custody Agreement”) and the Power of Attorney appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder Registration Statement (the “Power of Attorney and Custody AgreementAttorney”) will not contravene (i) any provision of applicable lawthe charter or by-laws, (ii) the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) partnership agreement, trust agreement or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of a corporation, trust or other business entity), (iiiii) any agreement or other instrument binding upon such Selling Shareholder or (iviii) any applicable law or judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except except, in the cases case of clause clauses (ii) and (iii) above, as would not, individually not singly or in the aggregate, impair the ability of be reasonably expected to have a material adverse effect on such Selling Shareholder Shareholder’s ability to consummate the transactions contemplated by this Agreement, or to the extent the Selling Shareholder is a party thereto, the Custody Agreement or the Power of Attorney (a “Selling Shareholder Material Adverse Effect”); and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or, to the extent a party thereto, the Custody Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for (i) such consents, approvals, authorizations, orders or qualifications as may be required by the United States federal and state securities or blue sky laws, Blue Sky laws and regulations of the various states of the United States or securities laws of other applicable jurisdictions in connection with the offer and sale of the Shares, (ii) where the failure to obtain such consents, approvals or authorizations would not have a Selling Shareholder Material Adverse Effect and (iii) those which have been obtained or made.
(ci) Such Institutional Selling Shareholder hasis as of the date hereof, and will be on the Closing Date, the registered owner of, or has as of the date hereof, and will have on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of as defined in Section 8-501 102 of the New York Uniform Commercial Code in respect of, of the Shares to be sold by such Institutional Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances encumbrances, except as described in the Time of Sale Prospectus, and has on the date hereof the legal right and power, and all authorization and approval required by law, to enter into this Agreement and, to the extent that such Institutional Selling Shareholder is a party thereto, the Custody Agreement and the Power of Attorney and Custody Agreement Attorney, and to sell, transfer and deliver the Shares to be sold by such Institutional Selling Shareholder or a security entitlement in respect of such Shares; and (ii) such Management Selling Shareholder on the Closing Date will be the registered owner of, or will have “security entitlement” as defined in Section 8-102 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Management Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances, except as described in the Time of Sale Prospectus, and has on the date hereof the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney, and will have on the Closing Date the legal right and power, and all authorization and approval required by law to sell, transfer and deliver the Shares to be sold by such Management Selling Shareholder or a security entitlement in respect of such Shares.
(d) The To the extent a party thereto, the Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its termsShareholder, except (i) as limited by subject to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or and similar laws of general applicability, relating to or affecting creditors’ creditor rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion general principles of the court before which any proceeding may be broughtequity.
(e) Upon payment by the Underwriters for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee in the Company’s register of members and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (CB) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, DTC in each case on the Company’s share registry register of members in accordance with its certificate memorandum of incorporationassociation, bylaws bye-laws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain andand at the Closing Date, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, (iii) each broadly available road show, if any, when considered together with the Time of Sale Prospectus, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading and (iiiiv) the Prospectus does not contain andand at the Closing Date, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except ; provided that the representations and warranties set forth in this paragraph 2(g) made by each Selling Shareholder are limited in all respects to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto, it being understood and agreed that such information consists only of such Selling Shareholder’s name and any information relating to its holdings of Common Stock (including for the avoidance of doubt that information set forth in the footnotes to the beneficial ownership table in the “Principal and Selling Shareholders” section of the Time of Sale Prospectus and the Prospectus) as set forth in the Registration Statement, the Time of Sale Prospectus, each broadly available road show and the Prospectus.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such the Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals and Computershare Investor Services, L.L.C., as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “"CUSTODY AGREEMENT") and the Power of Attorney appointing certain individuals as such Selling Shareholder's attorneys-in-fact to the extent set forth therein, relating to the transactions contemplated hereby and Custody Agreement”by the Registration Statement (the "POWER OF ATTORNEY") will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational constituent documents of such Selling Shareholder (if such Selling Shareholder is another type of entity)Shareholder, (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Custody Agreement or Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “"security entitlement” " within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities (subject to the beneficial interests of the plan beneficiaries) or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such the Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”"CEDE") or such other nominee as may be designated by the Depository Trust Company (“"DTC”"), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “"UCC”")) to such Shares), (A) DTC shall be a “"protected purchaser” " of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “"adverse claim”", within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s 's share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “"clearing corporation” " within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder has no reason to believe that the representations and warranties of the Company contained in Section 1 are not true and correct, is familiar with the Registration Statement and Prospectus and has no knowledge of any material fact, condition or information not disclosed in the Prospectus that has had, or may have, a material adverse effect on the Company and its subsidiaries, taken as a whole. Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Registration Statement and the Prospectus does notcomply, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Companysupplemented, if applicable, will not, contain any untrue statement of a comply in all material fact or omit to state a material fact necessary to make respects with the statements therein, in Securities Act and the light applicable rules and regulations of the circumstances under which they were made, not misleading, Commission thereunder and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except ; provided that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto.
(h) The statements in the Prospectus under the captions "Summary - Selling Shareholders" and "Selling Shareholders" insofar as such statements constitute summaries of the legal matters, documents or proceedings referred to therein, fairly present the information called for with respect to such legal matters, documents and proceedings and fairly summarize the matters referred to therein.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally represents and warrants to and agrees with each of the Underwriters U.S. Underwriter that:
(a) Such Selling Shareholder now has, and on the Closing Date and any Option Closing Date, if applicable, will have, valid and marketable title to the Shares to be sold by such Selling Shareholder on such date, free and clear of any lien, claim, security interest or other encumbrance, including, without limitation, any restriction on transfer, except as otherwise described in the Prospectuses.
(b) Such Selling Shareholder now has, and on the Closing Date and any Option Closing Date, if applicable, will have, full legal right, power and authorization, and any approval required by law (other than any approval under federal or state securities or foreign laws), to sell, assign, transfer and deliver such Shares in the manner provided in this Agreement and the International Underwriting Agreement, and upon delivery of and payment for such Shares hereunder, the several U.S. Underwriters will acquire valid and marketable title to such Shares free and clear of any lien, claim, security interest, or other encumbrance.
(c) This Agreement, the International Underwriting Agreement has and the Custody Agreement have been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a are the valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its their terms, except that (i) as the enforceability hereof or thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting now or hereafter in effect relating to creditors’ ' rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to certain equitable defenses and to the discretion of the court before which any proceeding the proceedings may be broughtbrought and (iii) rights to indemnity and contribution hereunder or thereunder may be limited by federal or state securities laws or the public policy underlying such laws.
(d) Neither the sale of the Shares, the execution, delivery or performance of this Agreement, the International Underwriting Agreement or the Custody Agreement by or on behalf of such Selling Shareholder nor the consummation by or on behalf of such Selling Shareholder of the transactions contemplated hereby and thereby (i) requires any consent, approval, authorization or other order of, or registration or filing with, any court, regulatory body, administrative agency or other governmental body, agency or official (except as may be required for the registration of the Shares under the Act and the Exchange Act and such as may be required under state securities or foreign laws), or (ii) conflicts or will conflict with or constitutes or will constitute a breach of, or a default under, any agreement, indenture, lease or other instrument to which such Selling Shareholder is a party or by which such Selling Shareholder is or may be bound (except any such agreements or other instruments which will either be terminated or released upon the Closing hereunder), or violates or will violate any statute, law, regulation or filing or judgment, injunction, order or decree applicable to such Selling Shareholder, or will result in the creation or imposition of any lien, charge or encumbrance upon any property or assets of such Selling Shareholder pursuant to the terms of any agreement or instrument to which such Selling Shareholder is a party or by which such Selling Shareholder may be bound or to which any of the property or assets of such Selling Shareholder is subject.
(e) Upon payment for the Shares The information pertaining to be sold by such Selling Shareholder pursuant provided to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by Company for inclusion under the Depository Trust Company (“DTC”), registration of such Shares caption "Principal and Selling Shareholders" in the name of Cede or such other nominee Prospectuses, does not and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any an untrue statement of a material fact or omit to state a any material fact required to be stated therein or necessary to make the statements therein not misleading.
(f) The representations and warranties of such Selling Shareholder in the Custody Agreement are, and on the Closing Date and any Option Closing Date, if applicable, will be, true and correct.
(g) Such Selling Shareholder has not taken, directly or indirectly, any action designed to or that might reasonably be expected to cause or result in stabilization or manipulation of the price of the Common Stock to facilitate the sale or resale of the Shares, except for the lock-up arrangements referred to in the Prospectuses.
(h) Such Selling Shareholder has not distributed and, prior to the later to occur of (i) the Closing Date or the Option Closing Date, if applicable, and (ii) the Time of Sale Prospectus does not, and, at the time of each sale completion of the Shares distribution of the Shares, will not distribute any offering material in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light sale of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements theretoShares.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each of the Selling Shareholder Shareholders, severally and not jointly, represents and warrants to each Underwriter and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder ofhas all right, power and authority necessary to execute and deliver this Agreement, to sell and deliver the Shares to be sold by him or her hereunder and to perform all other obligations under this Agreement; the execution, delivery and performance of this Agreement by such the Selling Shareholder will not conflict with, result in the creation or imposition of its obligations underany lien, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and relating to the deposit charge or encumbrance upon any of the Shares to be sold by such the Selling Shareholder (pursuant to the “Power of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable lawterms of, (ii) the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity)constitute a default under, (iii) any agreement or other instrument binding upon such Selling Shareholder instrument, or (iv) any judgmentorder, order rule or decree regulation of any court or governmental body, agency or court having jurisdiction over such the Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney Selling Shareholder's Properties; and Custody Agreement. No except as required by the 1933 Act and applicable state securities laws, no consent, approval, authorization or order of, or filing or qualification registration with, any court or governmental body or agency is required (or, if required, has been obtained) for the execution, delivery and performance of this Agreement by such the Selling Shareholder.
(b) At the Closing Time, the Selling Shareholder will have good title to the Shares being sold by him or her hereunder; such Shares are, and at the Closing Time will be, validly authorized, issued and outstanding, fully paid and nonassessable Common Stock of its obligations under this Agreement or the Power Company with no personal liability attaching to the ownership thereof; and upon the delivery of Attorney and Custody Agreement of payment for such Shares as contemplated herein, the Underwriters will receive good title to the Shares purchased by them, respectively, from such Selling Shareholder, except for such consentsfree and clear of any and all liens, approvalsencumbrances, authorizations, orders or qualifications as may be required by the securities or blue sky laws security interests and regulations of the various states in connection with the offer and sale of the Sharesadverse claims.
(c) Such Without the prior written consent of the Underwriters, the Selling Shareholder has, and on any affiliate controlled by him or her (other than the Closing Date Company) will have, valid title to, not sell or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities offer or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and contract to sell, transfer and deliver except to the Shares Underwriters pursuant to be sold by such this Agreement, any securities of the Company which he or she beneficially owns within 180 days after the effective date of the Registration Statement; the Selling Shareholder has not taken, and agrees that he or a security entitlement she will not take, directly or indirectly, any action which might reasonably be expected to cause or result in respect stabilization or manipulation of such Sharesthe price of the Common Stock of the Company.
(d) The Power of Attorney and Custody Agreement has been duly authorizedExcept as set forth in the Prospectus, executed and delivered by such the Selling Shareholder is disposing of his or her Shares hereunder for his or her own account and is a valid and binding agreement of not selling such Selling Shareholder enforceable against such Selling Shareholder in accordance with its termsShares, except (i) as limited by bankruptcydirectly or indirectly, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that for the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion benefit of the court before which any proceeding may be broughtCompany or the Underwriters.
(e) Upon payment for To the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) extent that any statements or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares omissions made in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, any Preliminary Prospectus, the Prospectus or any amendment or supplement thereto are made in reliance upon and in conformity with written information furnished to the Company by the Selling Shareholder expressly for use therein, such Preliminary Prospectus, did, and the Registration Statement and the Prospectus and any amendment or supplement thereto will, when it became effective, did not contain andthey become effective or are filed with the Commission, as amended or supplementedthe case may be, if applicable, conform in all material respects to the requirements of the 1933 Act and the 1933 Act Regulations and will not contain any untrue statement of a material fact or omit to state a any material fact required to be stated therein or necessary to make the statements therein not misleading, .
(iif) the Time of Sale Prospectus does not, and, at the time of each The sale of the Shares in connection with by the offering when the Prospectus Selling Shareholder pursuant to this Agreement is not yet available to prospective purchasers and at prompted by any material information concerning the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under Company which they were made, is not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto.
Appears in 1 contract
Samples: Underwriting Agreement (Motor Cargo Industries Inc)
Representations and Warranties of the Selling Shareholders. Each of the Selling Shareholder severally Shareholders represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals and __________, as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “"Custody Agreement") and the Power of Attorney appointing certain individuals as such Selling Shareholder's attorneys-in-fact to the extent set forth therein, relating to the transaction contemplated hereby and Custody Agreement”by the Registration Statement (the "Power of Attorney") will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) of any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Custody Agreement or Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, to the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such SharesShareholder.
(d) The Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(e) Upon payment for Delivery of the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters Agreement will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, pass title to such Shares may be asserted against the Underwriters with respect to such free and clear of any security entitlement; for purposes of this representationinterests, such Selling Shareholder may assume that when such paymentclaims, delivery liens, equities and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCCother encumbrances.
(f) Such If the Selling Shareholder is not prompted by any material information concerning an officer or director of the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The the Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Registration Statement and the Prospectus does not, comply and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Companysupplemented, if applicable, will not, contain any untrue statement of a comply in all material fact or omit to state a material fact necessary to make respects with the statements therein, in Securities Act and the light applicable rules and regulations of the circumstances under which they were made, not misleading, Commission thereunder and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g2(f) are limited do not apply to statements or omissions made in reliance the Registration Statement or the Prospectus based upon information relating to any Underwriter furnished to the Company in writing by such Underwriter through you expressly for use therein.
(g) For each Selling Shareholder other than those making a representation and in conformity with warranty pursuant to paragraph 2(f) above, all information relating to such Selling Shareholder furnished to the Company in writing by or on behalf of such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, Statement and the Prospectus is, and on the Closing Date will be, true, correct, and complete, and does not, and on the Closing Date will not, contain any untrue statement of a material fact or omit to state any amendments or supplements theretomaterial fact necessary to make such information not misleading.
Appears in 1 contract
Samples: Underwriting Agreement (Professional Detailing Inc)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally severally, and not jointly, represents and warrants to and agrees with each of the Underwriters that:
(a) This such Selling Shareholder has full power and authority to enter into this Agreement and the Custody Documents to which it is a party. All authorizations and consents necessary for the execution and delivery by such Selling Shareholder of the Custody Documents, and for the execution of this Agreement on behalf of such Selling Shareholder, have been obtained. Each of the Custody Documents and this Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is constitutes a valid and binding agreement of such Selling Shareholder and is enforceable against such Selling Shareholder in accordance with its termsthe terms thereof and hereof, except (i) as may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) by general equitable principles, and except to the extent that the remedy indemnification and contribution provisions of specific performance and injunctive and other forms of equitable relief Section 11 hereof may be subject to equitable defenses limited by federal or state securities laws and to public policy considerations in respect thereof;
(b) such Selling Shareholder now has, and at the discretion Option Closing Time and the Date of Delivery of the court before which any proceeding may be brought.
Option Shares will have, (ei) Upon payment for record and beneficial ownership of the Shares to be sold by such Selling Shareholder hereunder, free and clear of all liens, encumbrances and claims whatsoever (other than pursuant to this Agreementthe Custody Documents), and (ii) full legal right and power, and all authorizations and approvals required by law, to sell, transfer and deliver such Shares to the Underwriters hereunder and to make the representations, warranties and agreements made by such Selling Shareholder herein. Upon the delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of and payment for such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representationhereunder, such Selling Shareholder will deliver record and beneficial ownership thereto, free and clear of any pledge, lien, encumbrance, security interest or other claim;
(c) at the Option Closing Time and the Date of Delivery of the Option Shares, all stock transfer or other taxes (other than income taxes) which are required to be paid in connection with the sale and transfer of the Shares to be sold by such Selling Shareholder to the Underwriters hereunder will have been fully paid or provided for by such Selling Shareholder and all laws imposing such taxes will have been fully complied with;
(d) the performance of this Agreement and the consummation of the transactions contemplated herein will not conflict with, or result in any breach of, or constitute a default under (nor constitute any event which with notice, lapse of time, or both would constitute a breach of, or default under), (i) any provision of the constituent documents of the Selling Shareholder, or (ii) any provision of any material license, indenture, mortgage, deed of trust, loan or credit agreement or other agreement or instrument to which the Selling Shareholder is a party or by which it or its properties may assume that when such paymentbe bound or affected, or under any federal, state, local or foreign law, regulation or rule or any decree, judgment or order applicable to the Selling Shareholder; or result in the creation or imposition of any lien, charge, claim or encumbrance upon any material property or asset of the Selling Shareholder;
(e) no approval, authorization, consent or order of or filing with any federal, state or local governmental or regulatory commission, board, body, authority or agency is required in connection with the Selling Shareholder’s execution, delivery and crediting occurperformance of this Agreement, its consummation of the transactions contemplated herein, and its sale and delivery of the Option Shares to be sold by such Selling Shareholder, other than (xi) such Shares as have been obtained, or will have been registered obtained at the Closing Time under the Securities Act and the Exchange Act, (ii) such approvals as have been obtained in connection with the name approval of Cede or another nominee designated by DTC, in each case the listing of the Shares on the Company’s share registry in accordance with its certificate of incorporation, bylaws Nasdaq National Market and applicable law, (yiii) DTC will be registered as a “clearing corporation” within any necessary qualification under the meaning of Section 8-102 securities or blue sky laws of the UCC and (z) appropriate entries to various jurisdictions in which the accounts of Shares are being offered by the several Underwriters on the records of DTC will have been made pursuant to the UCC.Underwriters;
(f) Such such Selling Shareholder is not prompted to sell Shares by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.Registration Statement or the Prospectus;
(ig) The all material information with respect to such Selling Shareholder contained in the Registration Statement, when it became effective, did not contain and, the Preliminary Prospectus and the Prospectus (as amended or supplemented, if applicablethe Company shall have filed with the Commission any amendment or supplement thereto) complied and will comply in all material respects with all applicable provisions of the Securities Act and the Securities Act Regulations; the Registration Statement, the Preliminary Prospectus and the Prospectus, as amended and supplemented, contain and will contain all statements of material fact with respect to such Selling Shareholder required to be stated therein in accordance with the Securities Act and the Securities Act Regulations; the Registration Statement, as amended, does not and will not contain any an untrue statement of a material fact with respect to such Selling Shareholder or omit to state a material fact with respect to such Selling Shareholder required to be stated therein or necessary in order to make the statements therein not misleading, (ii) ; and the Time of Sale Preliminary Prospectus does not, and, at and the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Companyand supplemented, if applicable, does not and will not, not contain any an untrue statement of a material fact with respect to such Selling Shareholder or omit to state a material fact with respect to such Selling Shareholder required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, and misleading (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are information being limited to statements or omissions made in reliance upon and in conformity the information with information relating respect to such Selling Shareholders described in the second to last sentence of the first paragraph of Section 11(b) hereof);
(h) other than as permitted by the Securities Act and the Securities Act Regulations, such Selling Shareholder furnished has not distributed and will not distribute any prospectus or any other offering material in connection with the offering and sale of the Shares; such Selling Shareholder has not, directly or indirectly, taken any action intended, or which might reasonably be expected, to cause or result in, or which has constituted, stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Shares;
(i) certificates in writing negotiable form for the Shares to be sold hereunder by such Selling Shareholder expressly have been placed in custody, for use the purpose of making delivery of such Shares under this Agreement and under the Custody Documents which appoints American Stock Transfer and Trust Company as custodian (in such capacity, the “Custodian”), for such Selling Shareholder; such Selling Shareholder agrees that the Shares represented by the certificates held in custody under the Custody Documents are for the benefit of and coupled with and subject to the interest hereunder of the Custodian, the Attorneys, the Underwriters, each other Selling Shareholder and the Company; that the arrangements made by such Selling Shareholder for such custody and the appointment of the Custodian and the Attorneys by such Selling Shareholder are irrevocable; and that the obligations of such Selling Shareholder hereunder shall not be terminated by operation of law, whether by the death, disability, incapacity or liquidation of any Selling Shareholder or the occurrence of any other event; if any Selling Shareholder should die, become disabled or incapacitated or be liquidated or if any other such event should occur before the delivery of the Shares hereunder, certificates for the Shares shall be delivered by the Custodian in accordance with the terms and conditions of this Agreement and actions taken by the Attorneys and the Custodian pursuant to the Custody Documents shall be as valid as if such death, liquidation, incapacity or other event had not occurred, regardless of whether or not the Custodian or the Attorneys, or either of them, shall have received notice thereof;
(j) such Selling Shareholder has not relied upon the Representatives or legal counsel for the Representatives for any legal, tax or accounting advice in connection with the offering and sale of the Shares to be sold by it;
(k) such Selling Shareholder does not have any registration or other similar rights to have any equity or debt securities registered for sale by the Company under the Registration Statement or included in the offering contemplated by this Agreement, except for such rights as are described in the Prospectus under “Shares Eligible for Future Sale”;
(l) such Selling Shareholder does not have, or has waived prior to the date hereof, any preemptive right, co-sale right or right of first refusal or other similar right to purchase any of the Shares that are to be sold by the Company or any of the other Selling Shareholders to the Underwriters pursuant to this Agreement; and such Selling Shareholder does not own any warrants, options or similar rights to acquire, and does not have any right or arrangement to acquire, any capital stock, right, warrants, options or other securities from the Company, other than those described in the Registration StatementStatement and the Prospectus; and
(m) except as disclosed in the Custody Documents, such Selling Shareholder is not a member of or an affiliate of or associated with any member of the Time NASD (within the meaning of Sale Prospectus, Article 1 of the Prospectus or any amendments or supplements theretoBy-Laws and the applicable rules of the NASD).
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each of the Selling Shareholder Shareholders severally represents and warrants to and agrees with each of the Underwriters thatas follows:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Such Selling Shareholder of, now has and at the performance by such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals Option Closing Date (as such Selling Shareholder’s attorneys-in-fact dates is hereinafter defined) will have good and valid title to the extent set forth therein and relating to the deposit of the Option Shares to be sold by such Selling Shareholder, free and clear of any liens, encumbrances, equities and claims, and full right, power and authority to effect the sale and delivery of such Option Shares; and upon the delivery of, against payment for, such Option Shares pursuant to this Agreement, the Underwriters will acquire good and valid title thereto, free and clear of any liens, encumbrances, equities and claims.
(b) Such Selling Shareholder (has full right, power and authority to execute and deliver this Agreement, the “Power of Attorney Attorney, and Custody Agreement”) will not contravene (i) any provision the Custodian Agreement referred to below and to perform its obligations under such Agreements. The execution and delivery of applicable law, (ii) this Agreement and the certificate of incorporation or bylaws of consummation by such Selling Shareholder (if of the transactions herein contemplated and the fulfillment by such Selling Shareholder is an entity) of the terms hereof will not require any consent, approval, authorization, or other order of any court, regulatory body, administrative agency or other governmental body (except as may be required under the Act, state securities laws or Blue Sky laws) and will not result in a breach of any of the terms and provisions of, or constitute a default under, organizational documents of such Selling Shareholder (Shareholder, if not an individual, or any indenture, mortgage, deed of trust or other agreement or instrument to which such Selling Shareholder is another type of entity)a party, (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental bodyorder, agency rule or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder regulation applicable to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement any court or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders any regulatory body or qualifications as may be required by the securities administrative agency or blue sky laws and regulations of the various states in connection with the offer and sale of the Sharesother governmental body having jurisdiction.
(c) Such Selling Shareholder hashas not taken and will not take, and on the Closing Date will havedirectly or indirectly, valid title any action designed to, or a valid “security entitlement” within which has constituted, or which might reasonably be expected to cause or result in the meaning of Section 8-501 stabilization or manipulation of the New York Uniform Commercial Code in respect ofprice of the Common Stock of the Company and, other than as permitted by the Act, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities will not distribute any prospectus or other encumbrances and offering material in connection with the legal right and power, and all authorization and approval required by law, to enter into this Agreement and offering of the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power Without having undertaken to determine independently the accuracy or completeness of Attorney either the representations and Custody Agreement has been duly authorizedwarranties of the Company contained herein or the information contained in the Registration Statement, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) has no reason to believe that the remedy of specific performance representations and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion warranties of the court before Company contained in Section 1 are not true and correct, is familiar with the Registration Statement and has no knowledge of any material fact, condition or information not disclosed in the Registration Statement which any proceeding has adversely affected or may be brought.
(e) Upon payment for adversely affect the business of the Company; and the sale of the Option Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder hereto is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) Registration Statement or the documents incorporated by reference therein. The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating pertaining to such Selling Shareholder furnished to under the Company in writing by such caption "Principal and Selling Shareholder expressly for use Stockholders" in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements theretois complete and accurate in all material respects.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each of the Selling Shareholder Shareholders severally and not jointly represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the its Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation or bylaws by-laws of such Selling Shareholder (if such Selling Shareholder is an entity) a corporation), or other organizational documents of such Selling Shareholder the limited partnership agreement (if such Selling Shareholder is another type of entity), (iiia limited partnership) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date (as defined below), in the case of a Firm Selling Shareholder, or the Option Closing Date (as defined below), in the case of an Option Selling Shareholder, will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, to the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization required authorizations and approval required by law, approvals to enter into this Agreement and the its Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such SharesShareholder.
(d) The Power of Attorney and Custody Agreement of such Selling Shareholder has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder Shareholder, enforceable against such Selling Shareholder in accordance with its terms, except as (i) as the enforceability thereof may be limited by bankruptcy, insolvency, reorganization, moratorium insolvency or similar laws affecting creditors’ ' rights generally, generally and (ii) that the remedy of specific performance and injunctive and other forms availability of equitable relief remedies may be subject to limited by equitable defenses and to the discretion principles of the court before which any proceeding may be broughtgeneral applicability.
(e) Upon payment for Delivery of the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters Agreement will acquire a pass valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, title to such Shares may be asserted against the Underwriters with respect to such free and clear of any security entitlement; for purposes of this representationinterests, such Selling Shareholder may assume that when such paymentclaims, delivery liens, equities and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCCother encumbrances.
(f) Such The information which relates specifically to such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not Shareholder, as set forth under the caption "Principal and Selling Stockholders" (including the notes thereto), in the Time of Sale Registration Statement and Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statementis, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at on the Closing Date (as defined in Section 5below), in the Time case of Sale Prospectusa Firm Selling Shareholder, or the Option Closing Date (as then amended defined below), in the case of an Option Selling Shareholder, will be, true, correct and complete, and does not, and on the Closing Date, in the case of a Firm Selling Shareholder, or supplemented by the CompanyOption Closing Date, if applicablein the case of an Option Selling Shareholder, will not, contain any untrue statement of a material fact or omit to state a any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, such information not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder Shareholder, severally and not jointly, represents and warrants to and agrees with each of the Underwriters that:
(ai) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(bii) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder and the Company, as Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Custody Agreement”), and the Power of Attorney appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder Registration Statement (the “Power of Attorney and Custody AgreementAttorney”) ), will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) by-laws or other similar corporate organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entitya corporation), (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Custody Agreement or Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(ciii) Such Selling Shareholder has, and on the Closing Date will have, valid good title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances other than pursuant to this Agreement, the Custody Agreement and the Power of Attorney, and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(div) The Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(ev) Upon payment for Delivery of the Shares to be sold by such Selling Shareholder and payment therefor pursuant to this Agreement, delivery of Agreement will pass good title to such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee free and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice clear of any adverse claim (within the meaning of Section 8-102 of the New York Uniform Commercial Code, to each Underwriter who has purchased such Shares without notice of an adverse claim within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCCCode.
(fvi) Such (a) Insofar as it has related to such Selling Shareholder is not prompted by any material information concerning Shareholder, the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (iib) the Time of Sale Prospectus Disclosure Package does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Applicable Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, misleading and (iiic) the Prospectus Prospectus, as of its Date, does not contain and, as amended or supplemented, if applicable, will not not, as of the Closing Date, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except ; provided that the representations and warranties set forth in this paragraph 2(g) Section 2 are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale ProspectusDisclosure Package, the Prospectus or any amendments or supplements thereto.
(vii) Such Selling Shareholder is not prompted by any information concerning the Company or its subsidiaries which is not set forth in the Registration Statement and the Disclosure Package to sell its Shares pursuant to this Agreement.
Appears in 1 contract
Samples: Underwriting Agreement (Biodel Inc)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally and not jointly represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorizedauthorized (if such Selling Shareholder is not a natural person), executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) , will not contravene (iA) any provision of applicable law, (ii) or the certificate of incorporation or bylaws by-laws of such Selling Shareholder (if such Selling Shareholder is an entitya corporation) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of a corporation, limited liability company, partnership or other entity), or (iiiB) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases case of clause (iii) as B), for such violations that would not, individually or in the aggregate, impair not reasonably be expected to have a material adverse effect on the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney Agreement;, and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body body, agency or agency court is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be brought[reserved].
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder has delivered to Xxxxxx Xxxxxxx an executed lock-up agreement in substantially the form attached hereto as Exhibit A (the “Lock-up Agreement”).
(g) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Registration Statement, the Time of Sale Prospectus or the Prospectus to sell its Shares pursuant to this Agreement; provided, however, that, except with respect to the Selling Shareholder Information (as defined herein), no representation or warranty is being made hereby as to whether the Registration Statement, the Time of Sale Prospectus or the Prospectus contains any untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances in which they are made, not misleading.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, (iii) each broadly available road show, if any, when considered together with the Time of Sale Prospectus, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading and (iiiiv) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except provided that the such representations and warranties set forth in this paragraph 2(gclause (h) are limited apply, with respect to a Selling Shareholder, only to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the each Registration Statement, the Time of Sale Prospectus, the Prospectus or and any further amendments or supplements theretoto the Registration Statement, the Time of Sale Prospectus and the Prospectus that are made in reliance upon and in conformity with written information furnished to the Company by such Selling Shareholder expressly for use therein; provided, further, that it is agreed that such information furnished by such Selling Shareholder to the Company consists only of (A) the legal name, address and the number of Shares owned by such Selling Shareholder before and after the offering and (B) the other information with respect to such Selling Shareholder (excluding percentages) which appear in the table (and corresponding footnotes) under the caption “Selling Shareholder” (such information with respect to such Selling Shareholder, the “Selling Shareholder Information”).
(i) (i) None of such Selling Shareholder or (if applicable) any of its subsidiaries, or, (if applicable) to the knowledge of such Selling Shareholder, any director, officer, employee, agent, representative, or affiliate thereof, is a Person that is, or is owned or controlled by one or more Persons that are:
(A) the subject of any Sanctions, or
(B) located, organized or resident in a country or territory that is the subject of Sanctions (including, without limitation, Crimea, Cuba, Iran, North Korea and Syria).
(ii) Such Selling Shareholder will not, directly or indirectly, use the proceeds of the offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person:
(A) to fund or facilitate any activities or business of or with any Person or in any country or territory that, at the time of such funding or facilitation, is the subject of Sanctions; or
(B) in any other manner that will result in a violation of Sanctions by any Person (including any Person participating in the offering, whether as underwriter, advisor, investor or otherwise).
(iii) Such Selling Shareholder has not knowingly engaged in, is not now knowingly engaged in, and will not engage in, any dealings or transactions with any Person, or in any country or territory, that at the time of the dealing or transaction is or was the subject of Sanctions.
(a) None of such Selling Shareholder or (if applicable) any of its subsidiaries, or, (if applicable) to the knowledge of such Selling Shareholder, any director, officer, employee, agent, representative, or affiliate thereof has taken or will take any action in furtherance of an offer, payment, promise to pay, or authorization or approval of the payment giving or receipt of money, property, gifts or anything else of value, directly or indirectly, to any Government Official in order to influence official action, or to any person in violation of any applicable anti-corruption laws; (b) such Selling Shareholder and each of its subsidiaries have conducted their businesses in compliance with applicable anti-corruption laws and (c) neither the Selling Shareholder nor any of its subsidiaries will use, directly or indirectly, the proceeds of the offering in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any person in violation of any applicable anti-corruption laws.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each of the Selling Shareholder severally Shareholders represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement Agreement, and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s , the attorneys-in-fact to the extent set forth named therein (as defined below) and Wachovia Bank, N.A., as Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder and appointing certain individuals as such Selling Shareholder's attorneys-in-fact (the “Power of Attorney "Attorneys-in-Fact") to the extent set forth therein, relating to the transactions contemplated hereby and Custody Agreement”by the Registration Statement (the "POWER OF ATTORNEY AND CUSTODY AGREEMENT") will not contravene (i) violate any provision of any statute, rule or regulation applicable lawto such Selling Shareholder, (ii) or the certificate of incorporation or bylaws by-laws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entitya corporation), (iii) or any material agreement or other material instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky laws and regulations of the various states in connection with the offer and sale of the Shares.agency
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, to the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement Agreement, and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such SharesShareholder.
(d) The Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(e) Upon payment for Upon, delivery of the Shares to be sold by such Selling Shareholder pursuant to this AgreementAgreement against payment therefor as provided herein, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee good and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, title to such Shares may be asserted against will pass to the Underwriters with respect to such free and clear of any security entitlement; for purposes of this representationinterests, such Selling Shareholder may assume that when such paymentclaims, delivery liens, equities and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreementother encumbrances.
(i) The information furnished by or on behalf of such Selling Shareholder for use in the Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make Statement and the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at on the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, such information not misleading, ; and (iiiii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement sale of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing Shares by such Selling Shareholder expressly for use in pursuant hereto is not prompted by any material non-public information relating to or concerning the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements theretoCompany.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder and [ ● ], as Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Custody Agreement”) and the Power of Attorney appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder Registration Statement (the “Power of Attorney and Custody AgreementAttorney”) will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation or bylaws by-laws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entitya corporation), (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body body, agency or agency court is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Custody Agreement or Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states or FINRA in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(e) [Delivery of the Shares to be sold by such Selling Shareholder and payment therefor pursuant to this Agreement will pass valid title to such Shares, free and clear of any adverse claim within the meaning of Section 8-102 of the New York Uniform Commercial Code, to each Underwriter who has purchased such Shares without notice of an adverse claim.] [OR] [Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.]
(f) Such Selling Shareholder has delivered to the Representatives an executed lock-up agreement in substantially the form attached hereto as Exhibit A (the “Lock-up Agreement”).
(g) Such Selling Shareholder has no reason to believe that the representations and warranties of the Company contained in Section 1 are not true and correct, is familiar with the Registration Statement, the Time of Sale Prospectus and the Prospectus and has no knowledge of any material fact, condition or information not disclosed in the Registration Statement, the Time of Sale Prospectus or the Prospectus that has had, or may have, a material adverse effect on the Company and its subsidiaries, taken as a whole. Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Registration Statement, the Time of Sale Prospectus or the Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Registration Statement and the Prospectus comply and, as amended or supplemented, if applicable, will comply in all material respects with the Securities Act and the applicable rules and regulations of the Commission thereunder, (iii) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, (iv) each broadly available road show, if any, does not contain any information that conflicts with the information contained in the Registration Statement, the Time of Sale Prospectus or the Prospectus, and when considered together with the Time of Sale Prospectus, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading and (iiiv) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited do not apply to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale ProspectusProspectus or the Prospectus based upon information relating to any Underwriter furnished to the Company in writing by or on behalf of such Underwriter through the Representatives expressly for use therein, it being understood and agreed upon that the only information furnished by any Underwriter consists of the Underwriter Information, as defined below.
(i) None of such Selling Shareholder or any of its subsidiaries, or any director, officer, or employee thereof, or, to the knowledge of such Selling Shareholder, any agent, representative, or affiliate thereof, is a Person that is, or is owned or controlled by one or more Persons that are:
(A) the subject of any Sanctions, or
(B) located, organized or resident in a country or territory that is the subject of Sanctions (including, without limitation, Crimea, Cuba, Iran, North Korea and Syria).
(ii) Such Selling Shareholder will not, directly or indirectly, use the proceeds of the offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person:
(A) to fund or facilitate any activities or business of or with any Person or in any country or territory that, at the time of such funding or facilitation, is the subject of Sanctions; or
(B) in any other manner that will result in a violation of Sanctions by any Person (including any Person participating in the offering, whether as underwriter, advisor, investor or otherwise).
(iii) Such Selling Shareholder has not knowingly engaged in, is not now knowingly engaged in, and will not engage in, any dealings or transactions with any Person, or in any country or territory, that at the time of the dealing or transaction is or was the subject of Sanctions.
(i) None of such Selling Shareholder or any of its subsidiaries, or any director, officer, or employee thereof, or, to the knowledge of such Selling Shareholder, any agent, representative, or affiliate thereof has taken or will take any action in furtherance of an offer, payment, promise to pay, or authorization or approval of the payment giving or receipt of money, property, gifts or anything else of value, directly or indirectly, to any Government Official in order to obtain, retain or direct business or influence official action, or to any person in violation of any applicable anti-corruption laws; (ii) such Selling Shareholder and each of its subsidiaries have conducted their businesses in compliance with applicable anti-corruption laws and have instituted and maintained and will continue to maintain policies and procedures reasonably designed to promote and achieve compliance with such laws and with the representations and warranties contained herein; and (iii) neither the Selling Shareholder nor any of its subsidiaries will use, directly or indirectly, the Prospectus proceeds of the offering in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any person in violation of any applicable anti-corruption laws.
(k) The operations of such Selling Shareholder and each of its subsidiaries are and have been conducted at all times in material compliance with all applicable Anti-Money Laundering Laws, and no action, suit or proceeding by or before any court or governmental or regulatory agency, authority or body or any amendments arbitrator involving such Selling Shareholder or supplements theretoany of its subsidiaries with respect to the Anti-Money Laundering Laws is pending or, to the best knowledge of the Selling Shareholder, threatened.
(l) Such Selling Shareholder represents and warrants that it is not (i) an employee benefit plan subject to Title I of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), (ii) a plan or account subject to Section 4975 of the Internal Revenue Code of 1986, as amended or (iii) an entity deemed to hold “plan assets” of any such plan or account under Section 3(42) of ERISA, 29 C.F.R. 2510.3-101, or otherwise.
Appears in 1 contract
Samples: Underwriting Agreement (Airsculpt Technologies, Inc.)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder Shareholder, severally and not jointly, represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder and Mellon Investor Services LLC, as Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Custody Agreement”) and the Power of Attorney appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder Registration Statement (the “Power of Attorney and Custody AgreementAttorney”) will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) incorporation, by-laws or other organizational charter documents of such Selling Shareholder (if such Selling Shareholder is another type of a corporation or other entity), (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Custody Agreement or Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(e) Upon With respect to any Shares delivered by the Selling Shareholder in certificated form endorsed to the Underwriters, delivery of the Shares to be sold by such Selling Shareholder and payment therefor pursuant to this Agreement will pass valid title to such Shares, free and clear of any adverse claim within the meaning of Section 8-102 of the New York Uniform Commercial Code, to each Underwriter who has purchased such Shares without notice of an adverse claim. With respect to any Shares delivered by the Selling Shareholder through DTC without ever being registered directly in the name of the Underwriters, upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Each Selling Shareholder who is also an officer of the Company as indicated on Schedule I hereto (the “Officer Selling Shareholder”) (but none of the other Selling Shareholders) represents that to his knowledge, the Registration Statement, when it became effective, did not contain, and any post-effective amendments thereto will not contain, any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, and each of the Time of Sale Prospectus and the Prospectus does not contain, and any amendments or supplements thereto will not contain, any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading.
(g) Each Officer Selling Shareholder (but none of the other Selling Shareholders) represents that he is not prompted by any material information concerning the Company or its subsidiaries Subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Registration Statement and the Prospectus comply and, as amended or supplemented, if applicable, will comply in all material respects with the Securities Act and the applicable rules and regulations of the Commission thereunder, (iii) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, (iv) each broadly available road show, if any, when considered together with the Time of Sale Prospectus, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading and (iiiv) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g2(h) are limited in all respects to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto. The liability of each Selling Shareholder under this Section 2 shall be limited to an amount equal to the aggregate Public Offering Price of the Shares sold by such Selling Shareholder under this Agreement.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder Shareholder, severally and not jointly, represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement, and, with respect to each Selling Shareholder identified on Schedule I hereto as a “Management Selling Shareholder” (each, a “Management Selling Shareholder”), the Custody Agreement signed by such Management Selling Shareholder and American Stock Transfer & Trust Company, LLC, as Custodian, relating to the deposit of the Shares to be sold by such Management Selling Shareholder (the “Custody Agreement”) and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Management Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder Registration Statement (the “Power of Attorney and Custody AgreementAttorney”) will not contravene (i) any provision of applicable lawlaw applicable to such Selling Shareholder, (ii) the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of a corporation, limited liability company, partnership or other entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases case of clause clauses (i), (iii) and (iv) as would not, individually singly or in the aggregate, impair have a material adverse effect on the ability of such the Selling Shareholder Shareholders to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or, with respect to each Management Selling Shareholder, the Custody Agreement or the Power of Attorney and Custody Agreement of such Management Selling Shareholder, except for (i) such consentsas may have already been obtained, approvals, authorizations, orders or qualifications (ii) such as may be required by the securities or blue sky Blue Sky laws and regulations of the various states or foreign jurisdictions or the rules and regulations of FINRA in connection with the offer and sale of the SharesShares or (iii) such that would not reasonably be expected to have a material adverse effect on the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of (as defined in Section 8-501 102 of the New York Uniform Commercial Code Code) in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, and, with respect to each Management Selling Shareholder, the Custody Agreement and the Power of Attorney and Custody Agreement Attorney, and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The With respect to each Management Selling Shareholder, the Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Management Selling Shareholder and is a are valid and binding agreement agreements of such Management Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(e) With respect to any Selling Shareholder that is a non-U.S. person, no stamp, documentary, issuance, registration, transfer, withholding, capital gains, income or other taxes or duties are payable by or on behalf of the Underwriters, the Company or any of its subsidiaries in India, the UK or Ireland, or to any taxing authority thereof or therein in connection with (i) the execution, delivery or consummation of this Agreement, (ii) the sale and delivery of the Shares to the Underwriters or purchasers procured by the Underwriters, or (iii) the resale and delivery of the Shares by the Underwriters in the manner contemplated herein.
(f) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to the securities accounts account of the Underwriters Xxxxxxx Xxxxx (assuming that neither DTC nor any such Underwriter Xxxxxxx Sachs has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters Xxxxxxx Xxxxx will acquire a valid security entitlement in respect of such Shares and (CB) no action based on any “adverse claim”, within the meaning of (as defined in Section 8-102 of the UCC, ) to such Shares may be asserted against the Underwriters Xxxxxxx Sachs with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of (as defined in Section 8-102 of the UCC UCC) and (z) appropriate entries to the accounts account of the several Underwriters Xxxxxxx Xxxxx on the records of DTC will have been made pursuant to the UCC.
(fg) Such Selling Shareholder is not prompted by any material information concerning has delivered to the Company or its subsidiaries which is not set forth Representatives an executed lock-up agreement in substantially the Time of Sale Prospectus to sell its Shares pursuant to this form attached hereto as Exhibit A (the “Lock-up Agreement”).
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, misleading and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited in all respects to statements or omissions made in reliance upon and in conformity with the information relating to such Selling Shareholder furnished to the Company in writing by or on behalf of such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus or the Prospectus, it being understood and agreed that for purposes of this Agreement, the only information furnished by such Selling Shareholder consists of the name of such Selling Shareholder, the number of offered shares and the address and other information with respect to such Selling Shareholder (excluding percentages) which appear in the Registration statement or the Prospectus or any amendments or supplements theretoin the table (and corresponding footnotes) under the caption “Principal and Selling Stockholders” (with respect to each Selling Shareholder, the “Selling Shareholder Information”).
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally represents and warrants to and agrees with each of the Underwriters that:
(a) Such Selling Shareholder has, and on the Closing Date and each Option Closing Date will have, valid and unencumbered title to the ADSs and Ordinary Shares represented thereby to be delivered by such Selling Shareholder on such Closing Date or Option Closing Date and full right, power and authority to enter into this Agreement and, assuming effectiveness of the Registration Statement and the ADS Registration Statement, to sell, assign, transfer and deliver the ADSs and Ordinary Shares represented thereby to be delivered by such Selling Shareholder on such Closing Date or Option Closing Date hereunder, and to deposit with the Depositary the Ordinary Shares represented by such ADSs; and upon the delivery of and payment for the ADSs on the Closing Date or Option Closing Date hereunder, the several Underwriters will acquire valid and unencumbered title to the ADSs and Ordinary Shares represented thereby to be delivered by such Selling Shareholder on such Closing Date.
(b) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(bc) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) or the certificate memorandum and articles of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) association or other organizational constitutive documents of such Selling Shareholder (if such Selling Shareholder is another type of entitya corporation), (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgmentjudgments, order orders, decrees or decree writs, guidelines or notices of any arbitrator, court, governmental body, regulatory body, administrative agency or court other authority, body or agency having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as for any such conflict, breach, violation or default that would not, individually or in the aggregate, impair have a material adverse effect on the Selling Shareholders’ ability of such Selling Shareholder to consummate the transactions contemplated by fulfill its obligations under this Agreement or the Power of Attorney and Custody Agreement. .
(d) No consent, approval, authorization or order of, or filing or qualification with, any person (including any governmental agency or body or agency any court) is required for the performance to be obtained or made by such Selling Shareholder for the consummation of its obligations under the transactions contemplated by this Agreement or in connection with the Power offering and sale of Attorney and Custody Agreement of the ADSs sold by such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states of the United States in connection with the offer and sale of the SharesADSs.
(e) (i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact relating to such Selling Shareholder or omit to state a material fact required to be stated therein or necessary to make the statements therein relating to such Selling Shareholder not misleading, (ii) the Time of Sale Prospectus does not, and at the time of each sale of the Offered Securities in connection with the offering when the Prospectus is not yet available to prospective purchasers, at the Closing Date and at each Option Date, the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact relating to such Selling Shareholder or omit to state a material fact necessary to make the statements therein relating to such Selling Shareholder, in the light of the circumstances under which they were made, not misleading, (iii) each broadly available road show, if any, when considered together with the Time of Sale Prospectus, does not contain any untrue statement of a material fact relating to such Seller Shareholder or omit to state a material fact relating to such Seller Shareholder necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading and (iv) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact relating to such Selling Shareholder or omit to state a material fact necessary to make the statements therein relating to such Selling Shareholder, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph shall only apply to any statements or omissions made in reliance upon and in conformity with information furnished in writing to the Representatives by such Selling Shareholder expressly for use therein, and it being understood and agreed that the only information furnished by such Selling Shareholder consists of the information with respect to such Selling Shareholder under the caption headed “Principal and Selling Shareholders” in the Registration Statement, the Time of Sale Prospectus and the Prospectus (such information, the “Selling Shareholder Information”).
(cf) The sale of the ADSs by such Selling Shareholder pursuant to this Agreement is not prompted by any material information concerning the Company or any of its Subsidiaries that is not set forth in the in the Registration Statement, the Time of Sale Prospectus and the Prospectus.
(g) Such Selling Shareholder hashas no affiliations or associations with any member of FINRA.
(h) There are no contracts, and on the Closing Date will have, valid title to, agreements or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by understandings between such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, any person that would give rise to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by a valid claim against such Selling Shareholder or any Underwriter for a security entitlement brokerage commission, finder’s fee or other like payment in respect of such Sharesconnection with this offering.
(di) The Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Such Selling Shareholder and has not taken, directly or indirectly, any action that is a valid and binding agreement designed to or that has constituted or that would reasonably be expected to cause or result in the stabilization or manipulation of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except the price of any security of the Company to facilitate the sale or resale of the ADSs.
(j) Upon (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be brought.
(e) Upon payment for the Shares ADSs to be sold by such Selling Shareholder pursuant to this Agreement, (ii) issuance of the ADSs pursuant to the Deposit Agreement, (iii) delivery of such SharesADSs, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), (iv) registration of such Shares ADSs in the name of Cede or such other nominee nominee, and (v) the crediting of such Shares ADSs on the books of DTC to securities accounts of the Underwriters (assuming that neither the Depositary, DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such SharesADSs), (A) DTC shall be a “protected purchaser” of such ADSs and the Shares represented thereby within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such ADSs and the Shares represented thereby and (C) no action based on any “adverse claim”, ,” within the meaning of Section 8-102 of the UCC, to such ADSs or the Shares represented thereby may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery delivery, issuance and crediting occur, (x) such Shares ADSs will have been registered in the name of Cede or another nominee designated by DTC, in each case on the CompanyDepositary’s share registry in accordance with its certificate of incorporation, bylaws the Depositary Agreement and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(fk) Such No transaction, stamp, capital or other documentary, issuance, registration, transaction, transfer, withholding, capital gains, income or other taxes or duties are payable by or on behalf of the Underwriters to the jurisdiction of organization or tax residence of the Selling Shareholder is not prompted by Shareholder, the government of the PRC, the United States, Hong Kong or the Cayman Islands or any material information concerning the Company political subdivision or its subsidiaries which is not set forth taxing authority thereof in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
connection with (i) The Registration Statementthe sale and delivery of the ADSs by such Selling Shareholder or the deposit of the Ordinary Shares represented by the ADSs by such Selling Shareholder with the Depositary under the Deposit Agreement, when it became effectivethe issuance of the ADSs of such Selling Shareholder by the Depositary, did not contain and, as amended and the delivery of the ADSs to or supplemented, if applicable, will not contain any untrue statement for the account of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleadingUnderwriters, (ii) the Time of Sale Prospectus does not, and, at purchase from the time of each sale Selling Shareholder of the Shares ADSs and the initial resale and delivery of the ADSs of such Selling Shareholder to purchasers thereof by the Underwriters or (iii) the execution, delivery or performance of this Agreement, except that Cayman Islands and PRC stamp duty may be payable in the event that this Agreement is executed in or brought within the jurisdiction of the Cayman Islands or the PRC, as applicable.
(l) Such Selling Shareholder has not distributed or will not distribute, prior to the later of the Closing Date, the latest Option Closing Date and the completion of the Underwriters’ distribution of the ADSs, any offering material in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light sale of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing ADSs by such Selling Shareholder expressly for use Shareholder, including any free writing prospectus.
(m) Other than as disclosed in the Registration Statement, the Time of Sale Prospectus and the Prospectus, such Selling Shareholder does not have any registration or other similar rights to have any equity or debt securities registered for sale by the Company.
(n) Such Selling Shareholder does not have, or has waived prior to the date hereof, any preemptive right, co-sale right or right of first refusal or other similar right to purchase any of the ADSs that are to be sold by any other Selling Shareholder or the Ordinary Shares represented thereby to the Underwriters pursuant to this Agreement; and such Selling Shareholder does not own any warrants, options or similar rights to acquire, and does not have any right or arrangement to acquire, any shares, right, warrants, options or other securities from the Company, except as disclosed in the Registration Statement, the Time of Sale Prospectus and the Prospectus.
(o) As of the date hereof, no affiliate of such Selling Shareholder (except for the other Selling Shareholder) is the registered or legal owner of any Ordinary Shares.
(p) None of such Selling Shareholder or its subsidiaries, or any amendments director or supplements theretoofficer thereof, or, to such Selling Shareholder’s knowledge, any employee, agent or representative thereof or their respective affiliates, is aware of or has taken or will take any action, directly or indirectly, that would result in a violation by such persons of the Foreign Corrupt Practice Act of 1977, as amended, and the rules of regulations thereunder, the U.K. Bribery Act 2010, as amended, and the rules and regulations thereunder, or any other applicable anti-corruption law in furtherance of an offer, payment, promise to pay, or authorization or approval of the payment, giving or receipt of money, property, gifts or anything else of value, directly or indirectly, to any government official (including any Government Official) in order to influence official action, or to any person in violation of any applicable anti-corruption laws; and (ii) such Selling Shareholder and its subsidiaries and its and their affiliates have conducted their businesses in compliance with applicable anti-corruption laws and have instituted and maintained and will continue to maintain policies and procedures reasonably designed to promote and achieve compliance with such laws and with the representations and warranties contained herein.
(q) The operations of such Selling Shareholder and its subsidiaries are and have been conducted at all times in material compliance with all applicable Anti-Money Laundering Laws, and no action, suit or proceeding by or before any court or governmental or regulatory agency, authority or body or any arbitrator involving such Selling Shareholder or any of its subsidiaries with respect to the Anti-Money Laundering Laws is pending or, to the best knowledge of such Selling Shareholder, threatened.
(i) Neither such Selling Shareholder nor any of its subsidiaries, nor any director, officer thereof, nor, to the knowledge of such Selling Shareholder, any employee, agent, affiliate or representative of such Selling Shareholder or any of its subsidiaries, is or undertakes any business with a Person that is, or is owned or controlled by one or more Persons that are:
(A) subject to or the target of any Sanctions, including without limitation individuals or entities named on OFAC’s Specially Designated Nationals and Blocked Persons List, Foreign Sanctions Evaders List, and Sectoral Sanctions Identifications List, or
(B) located, organized or resident in a Sanctioned Country.
(ii) Such Selling Shareholder and its subsidiaries will not, directly or indirectly, use the proceeds of the offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person:
(A) to fund or facilitate any dealings, activities or business in, with or relating to any country, territory or Person that, at the time of such funding or facilitation, is the subject of Sanctions; or
(B) in any other manner that will result in a violation of Sanctions by any Person (including any Person participating in the offering, whether as underwriter, advisor, investor or otherwise).
(iii) For the past five years, such Selling Shareholder and its subsidiaries have not knowingly engaged in, are not now knowingly engaged in, and will not engage in, any dealings or transactions with any Person, or in any country or territory, that at the time of the dealing or transaction is or was the subject of Sanctions.
(iv) No investigation, inquiry, action or suit or proceeding by or before any Governmental Entity, involving any actual or alleged violations of any Sanctions by such Selling Shareholder or its subsidiaries, is pending, or to the knowledge of such Selling Shareholder, threatened.
Appears in 1 contract
Samples: Underwriting Agreement (Atour Lifestyle Holdings LTD)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder Shareholder, severally and not jointly, represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals and CIBC Mellon Trust Company, as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder and appointing certain individuals as such Selling Shareholder's attorneys-in-fact to the extent set forth therein, relating to the transactions contemplated hereby and by the Registration Statement (the “Power of Attorney and Custody Agreement”"CUSTODY AGREEMENT AND POWER OF ATTORNEY") will not contravene (i) any provision of any law applicable lawto such Selling Shareholder or the Custody Agreement and Power of Attorney, (ii) or the certificate articles of incorporation or bylaws by-laws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entitya corporation), (iii) or any agreement or other instrument binding upon such Selling Shareholder (other than the Pledge Agreement dated February 16, 2005 from the pledgors named therein, including one of the Selling Shareholders, to the Collateral Agent named therein (the "PLEDGE AGREEMENT") for which a waiver will be obtained prior to the Closing Date) or (iv) any judgment, order or decree applicable to such Selling Shareholder of any foreign or domestic governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency (including without limitation any Canadian court or Canadian federal or provincial governmental authority) is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Custody Agreement and Power of Attorney and Custody Agreement of entered into by such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications (i) as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares, and (ii) for the filing of the Canadian Supplemented Prospectus.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “"security entitlement” " within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances (except for such restrictions, legends, proxies or other encumbrances disclosed to the Underwriters listed on the first page of this Agreement (the "REPRESENTATIVES") or referenced in clause (b) above with respect to the Pledge Agreement and which will be released or shall terminate as of the Closing Date) and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Custody Agreement and Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Custody Agreement and Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against Shareholder, except as the enforcement of rights to indemnity and contribution thereunder may be limited by federal or state securities laws or principles of public policy and subject to the qualification that the enforceability of obligations of such Selling Shareholder in accordance with its terms, except (i) as thereunder may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ the enforcement of auditors' rights generally, generally and by general equitable principles (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtwhether applied in law or equity).
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”"CEDE") or such other nominee as may be designated by the Depository Trust Company (“"DTC”"), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “"UCC”")) to such Shares), (A) DTC shall be a “"protected purchaser” " of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “"adverse claim”", within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s 's share registry in accordance with its certificate articles of incorporation, bylaws and applicable law, (y) DTC will be registered as a “"clearing corporation” " within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(ig) The Registration Statement, when it became effective, did not contain and, as amended All information furnished by or supplemented, if applicable, will not contain any untrue statement on behalf of a material fact or omit to state a material fact required to be stated therein or necessary to make such Selling Stockholder for use in the statements therein not misleading, (ii) Prospectus and the Time of Sale Canadian Final Prospectus does not, and, at and on the time date of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, Closing Date and any Additional Closing Date will not, contain any untrue statement of a material fact or omit to state a any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and .
(iiih) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to If such Selling Shareholder furnished was requested to complete an "NASD Questionnaire", the Company in writing written response to such document provided by such Selling Shareholder expressly to counsel for use the Underwriters is true, correct and complete.
(i) In order to document the Underwriters' compliance with the reporting and withholding provisions of the Tax Equity and Fiscal Responsibility Act of 1982 with respect to the transactions herein contemplated, such Selling Shareholder will deliver to the Representatives prior to or at the Closing Date a properly completed and executed U.S. Treasury Department Form W-9 (or other applicable form or statement specified by the U.S. Treasury Department regulations in lieu thereof). The Underwriters hereby acknowledge that Robert V. Voit, Laura Jeanne Voit and Robert V. Voit GRAT, being certaxx Xxxxxxg Xxxxxxxxxxrx, xxx xxxxies tx x Xxxxxxxx Xhareholders Agreement dated October 25, 2004 (the Registration Statement"MINORITY SHAREHOLDERS AGREEMENT") which will terminate pursuant to its terms immediately prior to the initial closing of the offer and sale of the Firm Shares and that all of the representations, warranties, covenants and agreements of Robert V. Voit, Laura Jeanne Voit and Robert V. Voit GRAT set forth abxxx, xxxxfxx xx xxxx mxx xxxxxx xo perxxxx xxxxx xx the Time closing of Sale Prospectusthe offering, are qualified by reference to the Prospectus or any amendments or supplements theretoterms and conditions of the Minority Shareholders Agreement.
Appears in 1 contract
Samples: Underwriting Agreement (Corel Corp)
Representations and Warranties of the Selling Shareholders. (a) Each of the Selling Shareholder Shareholders, severally and not jointly, represents and warrants to and agrees with each of the Underwriters that:
(ai) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(bii) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, (A) this Agreement and (B) the Power of Attorney and Custody Agreement (the "Power of Attorney and Custody Agreement") signed by such Selling Shareholder appointing Shareholder, certain individuals as such Selling Shareholder’s 's attorneys-in-fact to (the extent set forth therein "Attorneys-in-Fact") and BankBoston, N.A. as Custodian (the "Custodian"), relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) Registration Statement, will not contravene (i) violate any provision of law applicable lawto such Selling Shareholder, (ii) or the certificate of incorporation or bylaws by-laws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entitya corporation), (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders as has been obtained under the Securities Act or qualifications otherwise and such as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(ciii) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, to the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such SharesShareholder.
(div) The Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(ev) Upon payment for delivery of the Shares to be sold by such Selling Shareholder pursuant to this AgreementAgreement against payment therefor, delivery of such Shares, as directed by the Underwriters, title to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in will pass to the name Underwriters free and clear of Cede or such any security interests, claims, liens, equities and other nominee encumbrances.
(b) Beacon Group III - Focus Value Fund, L.P. ("Beacon") represents to and the crediting of such Shares on the books of DTC to securities accounts agrees with each of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The the Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Registration Statement and the Prospectus does not, comply and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Companysupplemented, if applicable, will not, contain any untrue statement of a comply in all material fact or omit to state a material fact necessary to make respects with the statements therein, in Securities Act and the light applicable rules and regulations of the circumstances under which they were made, not misleading, Commission thereunder and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g2(b) are limited do not apply to statements or omissions in the Registration Statement or the Prospectus based upon information relating to any Underwriter furnished to the Company in writing by such Underwriter through you expressly for use therein.
(c) Each of the Selling Shareholders, other than Beacon, represents to and agrees with each of the Underwriters that, to the extent that any statements or omissions made in the Registration Statement, any preliminary Prospectus, the Prospectus or any amendment or supplement thereto are made in reliance upon and in conformity with written information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in therein, such preliminary Prospectus and the Registration StatementStatement did, the Time of Sale Prospectus, and the Prospectus or and any further amendments or supplements theretoto the Registration Statement and the Prospectus, when they become effective or are filed with the Commission, as the case may be, will conform in all material respects to the requirements of the Securities Act and the rules and regulations of the Commission thereunder and will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading.
Appears in 1 contract
Samples: Underwriting Agreement (Generac Portable Products Inc)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder Shareholder, severally and not jointly, represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder and Computershare Inc., as Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Custody Agreement”) and the Power of Attorney appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder Registration Statement (the “Power of Attorney and Custody AgreementAttorney”) will not contravene (i) any provision of applicable law, or (ii) the operating agreement, LLC agreement, partnership agreement, certificate of incorporation or bylaws by-laws (or other equivalent documents) of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entitya corporation), or (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases case of clause clauses (iii) and (iv) as would not, individually or in the aggregate, impair have a material adverse effect on the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement, the Custody Agreement or and the Power of Attorney Attorney, and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body body, agency or agency court is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Custody Agreement or Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states or foreign jurisdictions in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date and each Option Closing Date, will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances (other than those created by the Custody Agreement and the Power of Attorney) and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or and similar laws of general applicability relating to or affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtgeneral equity principles.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (Ai) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (Bii) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (Ciii) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be successfully asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning has delivered to the Company or its subsidiaries which is not set forth in the Time Representatives an executed Lock-Up Agreement. For purposes of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective“Lock-Up Agreement” means, did not contain and, a lock-up agreement in substantially the form attached hereto as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto.Exhibit A.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each of the Selling Shareholder Shareholders, severally and not jointly, and only with respect to such Selling Shareholder, represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The Power of Attorney and the Custody Agreement relating to outstanding shares in the form heretofore furnished to the Representatives (the “Power of Attorney” and “Custody Agreement”, respectively), has been duly authorized, executed and delivered by such Selling Shareholder and is the valid and binding agreement of such Selling Shareholder.
(c) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to and, if applicable, the extent set forth therein and relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) , will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational formation documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iiinot an individual) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or Agreement, the Power of Attorney and or the Custody Agreement of Agreement, if applicable, or such Selling Shareholder, except for such consents, approvals, authorizations, orders as have already been obtained or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the SharesStock.
(cd) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, of the Shares Stock to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by applicable law, to enter into this Agreement and the Power of Attorney and Custody Agreement Agreement, and to sell, transfer and deliver the Shares Stock to be sold by such Selling Shareholder or a security entitlement in respect of such SharesStock.
(de) The Power information provided by such Selling Shareholder to the Company in writing for inclusion in the “Selling Shareholders” section of Attorney the Prospectus is true and Custody Agreement has been duly authorizedcorrect; it being understood and agreed that the only such information furnished to the Company by such Selling Shareholder consists of the name of such Selling Shareholder, executed the number of shares of Firm Stock beneficially owned by and delivered to be offered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be brought.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters information with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (xexcluding any percentage) such Shares will have been registered which appears under the caption “Selling Shareholders” in the name of Cede or another nominee designated by DTCProspectus (such information so furnished in writing being hereinafter called, in each case on collectively, the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this AgreementInformation”).
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto.
Appears in 1 contract
Samples: Underwriting Agreement (Midland Co)
Representations and Warranties of the Selling Shareholders. Each Except as otherwise provided below, each Selling Shareholder listed in Schedule II, severally and not jointly, represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals and the Company, as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) and the Power of Attorney appointing certain individuals as such Selling Shareholder’s attorneys-in-fact (each, an “Attorney-in-Fact”) to the extent set forth therein, relating to the transactions contemplated hereby and by the Registration Statement (the “Power of Attorney”) will not contravene (i) conflict with or result in a breach or violation of any provision of applicable lawthe terms or provisions of, (ii) or constitute a default under, any contract, indenture, mortgage, deed of trust, loan or credit agreement, note, lease or other agreement or instrument to which such Selling Shareholder is a party or by which such Selling Shareholder is bound or to which any of the certificate of incorporation property or bylaws assets of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder subject or (ivii) result in any judgment, order or decree violation of any statute or any order, rule or regulation of any court or governmental body, agency or court body having jurisdiction over such Selling Shareholder, except in Shareholder or the cases of clause (iii) as would not, individually property or in the aggregate, impair the ability assets of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. Shareholder.
(c) No consent, approval, authorization or order of, or filing or qualification registration with, any court or governmental agency or body having jurisdiction over such Selling Shareholder or agency the property or assets of such Selling Shareholder is required for the execution, delivery and performance by such Selling Shareholder of its obligations under this Agreement, the Custody Agreement or the Power of Attorney and Custody Agreement of by such Selling ShareholderShareholder or the consummation by such Selling Shareholder of the transactions contemplated hereby and thereby, except for the registration of the Shares under the Securities Act and such consents, approvals, authorizations, orders registrations or qualifications as may be required under the Exchange Act and as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(cd) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(de) The Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, authorized by such Selling Shareholder and when executed and delivered by such Selling Shareholder and is a Shareholder, are valid and binding agreement agreements of such Selling Shareholder Shareholder, enforceable against such Selling Shareholder in accordance with its their terms, except (i) as may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or affecting creditors’ rights generally, generally and by general principles of equity (ii) that the remedy regardless of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any whether such enforceability is considered in a proceeding may be broughtin equity or at law).
(ef) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Depositary Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (Ai) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (Bii) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (Ciii) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(fg) [Such Selling Shareholder has no reason to believe that the representations and warranties of the Company contained in Section 1 are not true and correct, is familiar with the Registration Statement, the Time of Sale Prospectus and the Prospectus and has no knowledge of any material fact, condition or information not disclosed in the Time of Sale Prospectus or the Prospectus that has had, or may have, a Material Adverse Effect, provided that the representations and warranties in this Section 2(g) are made and given only by Xxxxxxx Xxx and Xxxxxx Xxx.]
(h) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries Subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) [(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Registration Statement and the Prospectus comply and, as amended or supplemented, if applicable, will comply in all material respects with the Securities Act and the applicable rules and regulations of the Commission thereunder, (iii) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, (iv) each broadly available road show, if any, when considered together with the Time of Sale Prospectus, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading and (iiiv) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except provided that the representations and warranties set forth in this paragraph 2(gSection 2(i) are limited do not apply to statements or omissions made in reliance the Registration Statement, the Time of Sale Prospectus or the Prospectus based upon and in conformity with information relating to such Selling Shareholder any Underwriter furnished to the Company in writing by such Selling Shareholder Underwriter through the Representatives expressly for use therein and provided further that, with respect to Xxxxxx Xxx, Xxxxx Xxxxx and Xxx Xxxx only, the representations and warranties set forth in this Section 2(i) apply only to the extent that any such statements in or omissions from any Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments broadly available road show are made in reliance on and in conformity with written information relating to such Selling Shareholder that has been furnished to the Company by or supplements theretoon behalf of such Selling Shareholder specifically and expressly for use therein.]
(j) Such Selling Shareholder does not have any registration or other similar rights to have any equity or debt securities registered for sale by the Company under the Registration Statement or included in the offering of the Shares, except for such rights as have been waived or which are described in the Registration Statement, Time of Sale Prospectus and Prospectus.
(k) Such Selling Shareholder does not have, or has waived prior to the date hereof, any preemptive right, co-sale right or right of first refusal or other similar right to purchase any of the Shares that are to be sold by the Company or any other Selling Shareholder to the Underwriters pursuant to this Agreement; and such Selling Shareholder does not own any warrants, options or similar rights to acquire, and does not have any right or arrangement to acquire, any capital stock, rights, warrants, options or other securities from the Company, other than those described in the Registration Statement, the Time of Sale Prospectus and the Prospectus.
(l) There are no contracts, agreements or understandings between such Selling Shareholder and any person that would give rise to a valid claim against the Company or any Underwriter for a brokerage commission, finder’s fee or other like payment in connection with this offering.
(m) There are no affiliations or associations between any member of FINRA and such Selling Shareholder, except as disclosed in the Registration Statement, Time of Sale Prospectus and Prospectus or as set forth in a questionnaire completed by such Selling Shareholder and delivered to the Representatives prior to the date of this Agreement; none of the proceeds received by such Selling Shareholder from the sale of the Shares to be sold by such Selling Shareholder pursuant to this Agreement will be paid to a member of FINRA or any affiliate of (or person “associated with”, as such terms are used in the Rules of FINRA) such member.
(n) Such Selling Shareholder represents that it has not prepared or had prepared on its behalf or used or referred to any free writing prospectus and represents that it has not distributed any written materials in connection with the offer or sale of the Shares.
(o) Such Selling Shareholder has not taken, directly or indirectly, any action designed to cause or result in, or that has constituted or might reasonably be expected to constitute, the stabilization or manipulation of the price of any securities of the Company.
(p) Such Selling Shareholder:
(i) represents that neither it nor, to the knowledge of such Selling Shareholder, any director, officer, employee, agent, affiliate or representative of such Selling Shareholder, is a Person that is, or is owned or controlled by a Person that is:
(A) the subject of any Sanctions, nor
(B) located, organized or resident in a country or territory that is the subject of Sanctions (including, without limitation, Burma/Myanmar, Cuba, Iran, North Korea, Sudan and Syria);
(ii) represents and covenants that it will not, directly or indirectly, use the proceeds of the offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person:
(A) to fund or facilitate any activities or business of or with any Person or in any country or territory that, at the time of such funding or facilitation, is the subject of Sanctions; or
(B) in any other manner that will result in a violation of Sanctions by any Person (including any Person participating in the offering, whether as underwriter, advisor, investor or otherwise); and
(iii) represents and covenants that for the past 5 years, it has not knowingly engaged in, is not now knowingly engaged in, and will not engage in, any dealings or transactions with any Person, or in any country or territory, that at the time of the dealing or transaction is or was the subject of Sanctions. Any certificate signed by any Selling Shareholder and delivered to the Representative or counsel for the Underwriters in connection with the Shares shall be deemed a representation and warranty by such Selling Shareholder, as to matters covered thereby, to each Underwriter.
Appears in 1 contract
Samples: Underwriting Agreement (RDA Microelectronics, Inc.)
Representations and Warranties of the Selling Shareholders. Each The Selling Shareholder Shareholders each severally represents and warrants to and agrees with each of the Underwriters Underwriter that:
(a) This Such Selling Shareholder is the lawful owner of the Shares to be sold by such Selling Shareholder pursuant to this Agreement has and has, and on the Closing Date (and Option Closing Date, if applicable) will have, good and clear title to such Shares, free of all restrictions on transfer, liens, encumbrances, security interests and claims whatsoever (other than restrictions imposed by applicable federal and state securities laws).
(b) Upon delivery of and payment for such Shares pursuant to this Agreement, good and clear title to such Shares will pass to the Underwriters, free of all restrictions on transfer, liens, encumbrances, security interests and claims whatsoever (other than restrictions imposed by applicable federal and state securities laws).
(c) Certificates in negotiable form for such Selling Shareholder's Shares have been placed in custody for delivery pursuant to the terms of this Agreement, under a Custody Agreement duly authorized, executed and delivered by such Selling Shareholder in the form heretofore furnished to you (the "Custody Agreement") with American Stock Transfer & Trust Company, as Custodian (the "Custodian"); the Shares represented by the certificates so held in custody for such Selling Shareholder are subject to the interests hereunder of the Underwriters, the Company and the other Selling Shareholders; the arrangements for custody and delivery of such certificates made by such Selling Shareholder hereunder and under the Custody Agreement, are not subject to termination by any acts of such Selling Shareholder, or by operation of law, whether by the death or incapacity of such Selling Shareholder or the occurrence of any other event; and if any such death, incapacity or any other such event shall occur before the delivery of such Shares hereunder, certificates for the Shares will be delivered by the Custodian in accordance with the terms and conditions of this Agreement and the Custody Agreement as if such death, incapacity or other event had not occurred, regardless of whether or not the Custodian shall have received notice of such death, incapacity or other event.
(d) The Selling Shareholder has, and on the Closing Date will have, full legal right, power and authority to enter into this Agreement and the Custody Agreement and to sell, assign, transfer and deliver such Shares in the manner provided herein and therein, and this Agreement and the Custody Agreement have been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such the Selling Shareholder of, and the performance by such Selling Shareholder each of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such is a valid and binding agreement of the Selling Shareholder appointing certain individuals enforceable in accor- dance with its terms, except as such rights to indemnity and contribution hereunder may be limited by applicable law.
(e) The Selling Shareholder’s attorneys-in-fact Shareholder has not taken, and will not take, directly or indirectly, any action designed to, or which might reasonably be expected to, cause or result in stabilization or manipulation of the price of any security of the Company to facilitate the extent set forth therein and relating to the deposit sale or resale of the Shares pursuant to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions distribution contemplated by this Agreement or Agreement, and other than as permitted by the Power of Attorney and Custody Agreement. No consentAct, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement has not distributed and will not distribute any prospectus or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky laws and regulations of the various states other offering material in connection with the offer offering and sale of the Shares.
(cf) Such The execution, delivery and performance of this Agreement by the Selling Shareholder, compliance by the Selling Shareholder haswith all the provisions hereof and the consummation of the transactions contemplated hereby will not require any consent, approval, authorization or other order of any court, regulatory body, administrative agency or other governmental body (except as such may be under the Act, state securities laws or Blue Sky laws) and will not conflict with or constitute a breach of any of the terms or provisions of any agreement, indenture or other instrument to which the Selling Shareholder is a party or by which the Selling Shareholder or property of the Selling Shareholder is bound, or violate or conflict with any laws, administrative regulation or ruling or court decree applicable to the Selling Shareholder or property of the Selling Shareholder.
(g) Such-parts of the Registration Statement under the caption "Principal and Selling Shareholders" which specifically relate to the Selling Shareholder do not, and will not on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free (and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be brought.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplementedOption Closing Date, if applicable), will not contain any untrue statement of a material fact or omit to state a any material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading.
(h) At any time during the period described in paragraph 6(b) hereof, if there is any change in the information referred to in paragraph 2(g) above with respect to a Selling Shareholder, such Selling Shareholder will immediately notify you of such change.
(i) The Selling Shareholder is not aware, and (iii) the Prospectus does not contain andhas no reason to believe, as amended that any representation or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light warranty of the circumstances under which they were made, not misleading, except that the representations and warranties Company set forth in this paragraph 2(g) are limited to statements Section 1 above is untrue or omissions made inaccurate in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements theretomaterial respect.
Appears in 1 contract
Samples: Underwriting Agreement (Transeastern Properties Inc)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder Shareholder, severally and not jointly, represents and warrants to and agrees with each of the Underwriters that:that (except that Sections 2(l) and 2(m) apply only to Sky Venture Limited (the “Specified Selling Shareholder”)):
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder and American Stock Transfer & Trust Company, LLC, as Custodian (the “Custodian”), relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Custody Agreement”) and the Power of Attorney appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder Registration Statement (the “Power of Attorney and Custody AgreementAttorney”) will not contravene (i) any provision of applicable law, or (ii) the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) incorporation, by-laws or other organizational comparable governing or constituent documents of such Selling Shareholder (if such Selling Shareholder is another type of entitynot a natural person), or (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases case of clause clauses (i), (iii) and (iv) as would not, individually or in the aggregate, impair have a material adverse effect on the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement, the Custody Agreement or and the Power of Attorney Attorney, and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Custody Agreement or Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consentsas have been obtained and made under the Securities Act, approvals, authorizations, orders such as may be required by the Exchange Act or qualifications as the rules and regulations thereunder or may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its termsShareholder, except (i) as limited by subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or and similar laws of general applicability relating to or affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtgeneral equity principles.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(g) (i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain contain, as of the date of such amendment or supplement, any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers purchasers, at the Closing Date (as defined in Section 5) and at the any Option Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplementedeach broadly available road show, if applicableany, will when considered together with the Time of Sale Prospectus, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading and (iv) the Prospectus, as of its date, does not contain and, as amended or supplemented, if applicable, will not contain, as of its date, at the Closing Date and at any Option Closing Date, any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except provided that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto, it being understood and agreed that the only information furnished by such Selling Shareholder consists of the name of such Selling Shareholder, the number of offered shares and the address and other information with respect to such Selling Shareholder (excluding percentages) which appear in the Registration Statement, Time of Sale Prospectus, and the Prospectus in the table (and corresponding footnotes) under the caption “Principal and Selling Stockholders” (with respect to each Selling Shareholder, the “Selling Shareholder Information”).
(i) None of such Selling Shareholder, any of its subsidiaries, or any director or officer thereof, or, to the knowledge of such Selling Shareholder, any employee, agent, controlled affiliate or representative of such Selling Shareholder or any of its subsidiaries or controlled affiliates, is a Person that is, or is owned or controlled by one or more Persons that are:
(A) the subject of any Sanctions, or
(B) located, organized or resident in a country or territory that is the subject of Sanctions (including, without limitation, Crimea, Cuba, Iran, North Korea, Sudan and Syria).
(ii) Such Selling Shareholder will not, directly or indirectly, use the proceeds of the offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person:
(A) to fund or facilitate any activities or business of or with any Person or in any country or territory that, at the time of such funding or facilitation, is the subject of Sanctions; or
(B) in any other manner that will result in a violation of Sanctions by any Person (including any Person participating in the offering, whether as underwriter, advisor, investor or otherwise).
(iii) For the past 5 years, such Selling Shareholder and its subsidiaries have not knowingly engaged in, are not now knowingly engaged in, and will not engage in, any dealings or transactions with any Person, or in any country or territory, that at the time of the dealing or transaction is or was the subject of Sanctions.
(i) None of such Selling Shareholder, its subsidiaries or controlled affiliates, or any director or officer thereof, or, to knowledge of such Selling Shareholder, any employee, agent or representative of such Selling Shareholder or of any of its subsidiaries or controlled affiliates, has taken or will take any action in furtherance of an offer, payment, promise to pay, or authorization or approval of the payment, giving or receipt of money, property, gifts or anything else of value, directly or indirectly, to any Government Official in order to influence official action, or to any person in violation of any applicable anti-corruption laws; (ii) such Selling Shareholder and its subsidiaries and controlled affiliates have conducted their businesses in compliance with applicable anti-corruption laws and have instituted and maintain and will continue to maintain policies and procedures reasonably designed to promote and achieve compliance with such laws and with the representations and warranties contained herein; and (iii) neither such Selling Shareholder nor any of its subsidiaries will use, directly or indirectly, the proceeds of the offering in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any person in violation of any applicable anti-corruption laws.
(j) The operations of such Selling Shareholder and its subsidiaries are and have been conducted at all times in material compliance with all applicable Anti-Money Laundering Laws, and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving such Selling Shareholder or any of its subsidiaries with respect to the Anti-Money Laundering Laws is pending or, to the best knowledge of such Selling Shareholder, threatened.
(k) Such Selling Shareholder represents and warrants that it is not (i) an employee benefit plan subject to Title I of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), (ii) a plan or account subject to Section 4975 of the Internal Revenue Code of 1986, as amended or (iii) an entity deemed to hold “plan assets” of any such plan or account under Section 3(42) of ERISA, 29 C.F.R. 2510.3-101, or otherwise.
(l) No stamp, documentary, issuance, registration, transfer, withholding, capital gains, income or other taxes or duties are payable in England or Wales, or to any taxing authority thereof or therein, by or on behalf of (i) the Underwriters, (ii) the Company or (iii) any of the Company’s subsidiaries in connection with (A) the execution, delivery or consummation of this Agreement, (B) the sale and delivery of the Shares to the Underwriters or purchasers procured by the Underwriters or (C) the resale and delivery of the Shares by the Underwriters in the manner contemplated herein.
(m) Such Selling Shareholder has the power to submit, and pursuant to Section 17(a) has, to the extent permitted by law, legally, validly, effectively and irrevocably submitted, to the jurisdiction of the Specified Courts (as defined in Section 17(a)), and has the power to designate, appoint and empower, and pursuant to Section 17(b)), has legally, validly and effectively designated, appointed and empowered an agent for service of process in any suit or proceeding based on or arising under this Agreement in any of the Specified Courts.
Appears in 1 contract
Samples: Underwriting Agreement (Roku, Inc)
Representations and Warranties of the Selling Shareholders. Each of the Selling Shareholder Shareholders severally and not jointly represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals and the Company, as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “"Custody Agreement") and the Power of Attorney appointing certain individuals as such Selling Shareholder's attorneys-in-fact to the extent set forth therein, relating to the transactions contemplated hereby and Custody Agreement”by the Registration Statement (the "Power of Attorney") will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation or bylaws by-laws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entitya corporation), (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Custody Agreement or Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, to the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such SharesShareholder.
(d) The Shares to be sold by such Selling Shareholder pursuant to this Agreement have been duly authorized and are validly issued, fully paid and non-assessable.
(e) The Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(ef) Upon payment for Delivery of the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters Agreement will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, pass title to such Shares may be asserted against the Underwriters with respect to such free and clear of any security entitlement; for purposes of this representationinterests, such Selling Shareholder may assume that when such paymentclaims, delivery liens, equities and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreementother encumbrances.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, misleading and (ii) the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited but only with reference to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by or on behalf of such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectusany preliminary prospectus, the Prospectus or any amendments or supplements thereto.
Appears in 1 contract
Samples: Underwriting Agreement (Cal Dive International Inc)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally represents and warrants to and agrees with each of the Underwriters Selling Shareholders, severally and not jointly, represents, warrants and covenants to each Underwriter that:
(a) This Such Selling Shareholder has full power and authority to enter into this Agreement and the International Underwriting Agreement. All authorizations and consents necessary for the execution and delivery by such Selling Shareholder of the Agreement and Power of Attorney, and for the execution of this Agreement and the International Underwriting Agreement on behalf of such Selling Shareholder, have been given. Each of the Agreement and Power of Attorney, this Agreement and the International Underwriting Agreement has been duly authorized, executed and delivered by or on behalf of such Selling ShareholderShareholder and constitutes a valid and binding agreement of such Selling Shareholder and is enforceable against such Selling Shareholder in accordance with the terms thereof and hereof.
(b) The execution Such Selling Shareholder now has, and at the time of delivery thereof hereunder will have, (i) good and marketable title to the Shares to be sold by such Selling Shareholder ofhereunder and under the International Underwriting Agreement, free and clear of all liens, encumbrances and claims whatsoever (other than pursuant to the Agreement and Power of Attorney), and the performance (ii) full legal right and power, and all authorizations and approvals required by law, to sell, transfer and deliver such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact Shares to the extent set forth therein U.S. Underwriters hereunder and relating to the deposit International Underwriters under the International
(c) On the Closing Date or the Option Closing Date, as the case may be, all stock transfer or other taxes (other than income taxes) which are required to be paid in connection with the sale and transfer of the Shares to be sold by such Selling Shareholder to the several Underwriters hereunder and to the International Underwriters under the International Underwriting Agreement will have been fully paid or provided for by such Selling Shareholder and all laws imposing such taxes will have been fully complied with.
(d) The performance of this Agreement and the “Power International Underwriting Agreement and the consummation of Attorney the transactions contemplated hereby and Custody Agreement”) thereby will not contravene (i) result in the creation or imposition of any provision lien, charge or encumbrance upon any of applicable law, (ii) the certificate of incorporation or bylaws assets of such Selling Shareholder (if pursuant to the terms or provisions of, or result in a breach or violation of any of the terms or provisions of, or constitute a default under, or result in the acceleration of any obligation under, any contract or other agreement to which such Selling Shareholder is an entity) a party or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon by which such Selling Shareholder or (iv) any of its property is bound or affected, or under any ruling, decree, judgment, order order, statute, rule or decree regulation of any court or other governmental body, agency or court body having jurisdiction over such Selling Shareholder, except in Shareholder or the cases of clause (iii) as would not, individually or in the aggregate, impair the ability property of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. Shareholder.
(e) No consent, approval, authorization or order of, or any filing or qualification declaration with, any court or governmental agency or body or agency is required for the performance consummation by such Selling Shareholder of the transactions on its obligations part contemplated herein, in the International Underwriting Agreement and in the Agreement and Power of Attorney, except such as have been obtained under this Agreement the Act or the Power of Attorney Rules and Custody Agreement of Regulations and such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the under state securities or blue sky Blue Sky laws or the by-laws and regulations rules of the various states NASD in connection with the offer purchase and sale distribution by the U.S. Underwriters of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the U.S. Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be brought.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCCShareholder.
(f) Such Selling Shareholder has no knowledge of any material fact or condition not set forth in the Registration Statement or the Prospectus which has adversely affected, or may adversely affect, the business, properties, business prospects, condition (financial or otherwise) or results of operations of the Company, and the sale of the Shares proposed to be sold by such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreementsuch knowledge.
(ig) The With respect to all information pertaining to such Selling Shareholder contained in the Registration Statement, when it became effective, did not contain and, Statement and the Prospectus (as amended or supplemented, if applicablethe Company shall have filed with the Commission any amendment or supplement thereto), the Registration Statement and Prospectus complied and will comply with all applicable provisions of the Act and the Rules and Regulations, contain and will contain all statements required to be stated therein in accordance with the Act and the Rules and Regulations, and does not and will not contain any an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading.
(h) To the best knowledge of such Selling Shareholder, (ii) the Time of Sale Prospectus does not, and, at the time of each sale representations and warranties of the Shares Company contained in Section 3 are true and correct.
(i) Other than as permitted by the Act and the Rules and Regulations, such Selling Shareholder has not distributed and will not distribute any preliminary prospectus, the Prospectus or any other offering material in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light sale of the circumstances Shares. Such Selling Shareholder has not taken, directly or indirectly, any action intended, or which might reasonably be expected, to cause or result in, under the Act or otherwise, or which they were madehas constituted, not misleading, and (iii) the Prospectus does not contain and, as amended stabilization or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light manipulation of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to price of any security of the Company to facilitate the sale or resale of the Shares.
(j) Certificates in writing negotiable form for the U.S. Firm Shares to be sold hereunder and the International Shares to be sold under the International Underwriting Agreement by such Selling Shareholder expressly have been placed in custody, for use in the Registration Statementpurpose of making delivery of such U.S. Firm Shares and International Shares under this Agreement and the International Underwriting Agreement, under the Time Agreement and Power of Sale Prospectus, Attorney which appoints _______ as custodian (the Prospectus or any amendments or supplements thereto"Custodian") for each Selling Shareholder.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally represents and warrants to and agrees with each of the Underwriters Underwriter that:
(a) Such Selling Shareholder now has, and on the Closing Date and any Option Closing Date will have, good and marketable title to the Shares to be sold by such Selling Shareholder, free and clear of any lien, claim, security interest or other encumbrance, including, without limitation, any restriction on transfer.
(b) Such Selling Shareholder now has, and on the Closing Date and any Option Closing Date will have, full legal right, power and authorization, and any approval required by law, to sell, assign, transfer and deliver such Shares in the manner provided in this Agreement, and upon delivery of and payment for such Shares hereunder, the several Underwriters will acquire good and marketable title to such Shares free and clear of any lien, claim, security interest, or other encumbrance.
(c) This Agreement has and the Custody Agreement have been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution Shareholder and delivery by such Selling Shareholder of, are the valid and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation or bylaws binding agreements of such Selling Shareholder (if enforceable against such Selling Shareholder is an entityin accordance with their terms.
(d) Neither the execution and delivery of this Agreement or other organizational documents the Custody Agreement by or on behalf of such Selling Shareholder (if such Selling Shareholder is another type nor the consummation of entity), (iii) any agreement the transactions herein or other instrument binding upon such Selling Shareholder therein contemplated by or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability on behalf of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No requires any consent, approval, authorization or order of, or filing or qualification registration with, any court, regulatory body, administrative agency or other governmental body body, agency or agency is official (except such as may be required for under the performance by Act or such as may be required under state securities or Blue Sky laws governing the purchase and distribution of the Shares) or conflicts or will conflict with or constitutes or will constitute a breach of, or default under, or violates or will violate, any agreement, indenture or other instrument to which such Selling Shareholder of its obligations under this Agreement is a party or the Power of Attorney and Custody Agreement by which such Selling Shareholder is or may be bound or to which any such Selling Shareholder's property or assets is subject, or any statute, law, rule, regulation, ruling, judgment, injunction, order or decree applicable to such Selling Shareholder or to any property or assets of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be brought.
(e) Upon payment for The Registration Statement and the Shares Prospectus, insofar as they relate to be sold by such Selling Shareholder pursuant to this AgreementShareholder, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee do not and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any an untrue statement of a material fact or omit to state a any material fact required to be stated therein or necessary to make the statements therein not misleading, .
(iif) Such Selling Shareholder does not have any actual knowledge or any reason to believe that the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when Registration Statement or the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any amendment or supplement thereto) contains any untrue statement of a material fact or omit omits to state a any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, therein not misleading, and .
(iiig) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the The representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to of such Selling Shareholder furnished to in the Company in writing by such Custody Agreement are, and on the Closing Date and any Option Closing Date will be, true and correct.
(h) Such Selling Shareholder expressly for use has not taken, directly or indirectly, any action designed to or that might reasonably be expected to cause or result in stabilization or manipulation of the price of the Common Shares to facilitate the sale or resale of the Shares, except as described in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. (a) Each of the Selling Shareholder severally Shareholders represents and warrants to to, and agrees with each of with, the Underwriters thatUnderwriter as follows:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder is the record and beneficial owner of, and has, and on the Closing Date will have, valid and marketable title to, or a valid “security entitlement” within to the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares Securities to be sold by such Selling Shareholder Shareholder, free and clear of all security interests, claims, liens, restrictions on transferability, legends, proxies, equities or other encumbrances encumbrances; and upon delivery of and payment for such Securities hereunder, the legal right Underwriter will acquire valid and powermarketable title thereto, free and clear of any security interests, claims, liens, restrictions on transferability, legends, proxies, equities or other encumbrances. Such Selling Shareholder is selling the Securities for such Selling Shareholder’s own account and is not selling such Securities, directly or indirectly, for the benefit of the Company, and no part of the proceeds of such sale received by such Selling Shareholder will inure, either directly or indirectly, to the benefit of the Company other than as described in the Registration Statement, the Time of Sale Disclosure Package and Prospectus.
(ii) The certificates representing the Securities to be sold by such Selling Shareholder pursuant to this Agreement have been duly and properly endorsed in blank for transfer, or are accompanied by all authorization documents duly and approval required by lawproperly executed that are necessary to validate the transfer of title thereto, to the Underwriter, free of any legend, restriction on transferability, proxy, lien or claim, whatsoever.
(iii) Such Selling Shareholder has the power and authority to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares Securities to be sold by such Selling Shareholder or a security entitlement in respect of such SharesShareholder.
(div) The Power of Attorney and Custody This Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is constitutes a valid and binding agreement of such Selling Shareholder Shareholder, enforceable against such Selling Shareholder in accordance with its terms, except (i) as rights to indemnity hereunder or thereunder may be limited by federal or state securities laws and except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ the rights generally, of creditors generally and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses general principles of equity. The execution and to delivery of this Agreement and the discretion performance of the terms hereof and the consummation of the transactions herein contemplated will not result in a breach or violation of any of the terms and provisions of, or constitute a default under, any material agreement or instrument to which such Selling Shareholder is a party or by which such Selling Shareholder is bound, or any law, regulation, order or decree applicable to such Selling Shareholder except where any such breach or violation would not, individually or in the aggregate, materially impair such Selling Shareholder’s ability to meet its obligations under this Agreement; no consent, approval, authorization or order of, or filing with, any court before which any proceeding may be brought.
(e) Upon payment or governmental agency or body is required for the Shares to be execution, delivery and performance of this Agreement or for the consummation of the transactions contemplated hereby, including the sale of the Securities being sold by such Selling Shareholder pursuant to this AgreementShareholder, delivery of except such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by required under the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede Securities Act or such other nominee and the crediting of such Shares on the books of DTC to state securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede laws or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCCblue sky laws.
(fv) Such Selling Shareholder is has not prompted by distributed and will not distribute any prospectus or other offering material information concerning in connection with the Company or its subsidiaries which is not set forth in offering and sale of the Securities other than any Preliminary Prospectus, the Time of Sale Disclosure Package or the Prospectus or other materials permitted by the Securities Act to sell its Shares pursuant be distributed by such Selling Shareholder. Such Selling Shareholder has not made and will not make any offer relating to the Securities that would constitute a “free writing prospectus” as defined in Rule 405 under the Securities Act, except in accordance with the provisions of Section 5(a)(xv) hereof and set forth on Schedule II.
(vi) Other than as contemplated by this Agreement and except as disclosed in the Registration Statement, the Time of Sale Disclosure Package and the Prospectus, there is no broker, finder or other party that is entitled to receive from such Selling Shareholder any brokerage or finder’s fee or any other fee, commission or payment as a result of the transactions contemplated by this Agreement.
(ivii) The Such Selling Shareholder has reviewed the Registration Statement, when it became effectivethe Time of Sale Disclosure Package and the Prospectus and none of the Registration Statement, did not contain and, as amended the Time of Sale Disclosure Package or supplemented, if applicable, will not contain the Prospectus contains any untrue statement of a material fact or omit omits to state a any material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) misleading regarding such Selling Shareholder but only to the Time of Sale Prospectus does not, and, at extent that any statements in or omissions from the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5)Registration Statement, the Time of Sale Prospectus, as then amended Disclosure Package or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make are based on the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to included in the Company in writing by such sections captioned “Selling Shareholder expressly for use Shareholder” and “Selling Shareholders” in the Registration Statement, the Time of Sale Disclosure Package and the Prospectus, .
(b) Any certificate signed by a Selling Shareholder and delivered to you or to counsel for the Prospectus or any amendments or supplements theretoUnderwriter shall be deemed a representation and warranty by such Selling Shareholder to the Underwriter as to the matters covered thereby.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder Shareholder, severally and not jointly, represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder and Computershare Inc., as Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Custody Agreement”) and the Power of Attorney appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder Registration Statement (the “Power of Attorney and Custody AgreementAttorney”) will not contravene (i) any provision of applicable law, or (ii) the operating agreement, LLC agreement, partnership agreement, certificate of incorporation or bylaws by-laws (or other equivalent documents) of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entitya corporation), or (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases case of clause clauses (iii) and (iv) as would not, individually or in the aggregate, impair have a material adverse effect on the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement[, the Custody Agreement or and the Power of Attorney Attorney], and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body body, agency or agency court is required for the performance by such Selling Shareholder of its obligations under this Agreement [or the Custody Agreement or Power of Attorney and Custody Agreement of such Selling Shareholder], except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states or foreign jurisdictions in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date and each Option Closing Date, will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances [(other than those created by the Custody Agreement and the Power of Attorney)] and the legal right and power, and all authorization and approval required by law, to enter into this Agreement[, the Custody Agreement and the Power of Attorney and Custody Agreement Attorney] and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or and similar laws of general applicability relating to or affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtgeneral equity principles.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (Ai) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (Bii) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (Ciii) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be successfully asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning has delivered to the Company or its subsidiaries which is not set forth in the Time Representatives an executed Lock-Up Agreement. For purposes of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective“Lock-Up Agreement” means, did not contain and, a lock-up agreement in substantially the form attached hereto as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto.Exhibit A.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each The Selling Shareholder severally represents Shareholders represent and warrants Warrant to and agrees with each of the Underwriters Underwriter that:
(a) The Selling Shareholders now have, and on any Option Closing Date will have, valid and marketable title to the Shares to be sold by such Selling Shareholders, free and clear of any lien, claim, security interest or other encumbrance, including, without limitation, any restriction on transfer.
(b) Such Selling Shareholders now have, and on any option Closing Date will have, full legal right, power and authorization, and any approval required by law, to sell, assign, transfer and deliver such Shares in the manner provided in this Agreement, and upon delivery of and payment for such Shares hereunder, the several Underwriters will acquire valid and marketable title to such Shares free and clear of any lien, claim, security interest, or other encumbrance.
(c) This Agreement has been duly authorized, executed and delivered by or on behalf of the Selling Shareholders and is the valid and binding agreement of such Selling ShareholderShareholders enforceable against the Selling Shareholders in accordance with its terms, except to the extent enforceability may be limited by laws relating to creditors' rights generally or by general equitable principles, and except as rights to indemnity and contribution hereunder may be limited by federal or state securities laws.
(bd) The Neither the execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and relating to the deposit or on behalf of the Shares to be sold Selling Shareholders, nor the consummation of the transaction s herein or therein contemplated by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation or bylaws on behalf of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) Shareholders requires any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No consent, approval, authorization or order of, or filing or qualification withregistration with any court, any regulatory body, administrative agency or other governmental body body, agency or agency is required for the performance by official (except such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by under the Act and the Exchange Act or such as may be required under state securities or blue sky Blue Sky laws governing the purchase and regulations of the various states in connection with the offer and sale distribution of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to), or conflicts or will conflict with or constitutes or will constitute a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect breach of, the Shares or default under, or violates or will violate, any agreement, indenture or other instrument to be sold by which such Selling Shareholder free and clear of all security interests, claims, liens, equities Shareholders are a party or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by which such Selling Shareholder Shareholders is or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement has been duly authorizedmay be bound, executed and delivered by such Selling Shareholder and is a valid and binding agreement or to which any of such Selling Shareholder enforceable against Shareholders' property or assets is subject, or any statute, law, rule, regulation, ruling, judgment, injunction, order or decree applicable to such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium Shareholders or similar laws affecting creditors’ rights generally, and (ii) that the remedy to any property or assets of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtsuch Selling Shareholders.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee The Registration Statement and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares)Prospectus, (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered insofar as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries they relate to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is Shareholders, do not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, and will not contain any an untrue statement of a material fact or omit to any state a any material fact required to be stated therein or necessary to make the statements therein not misleading.
(f) The Selling Shareholders haven not taken, directly or indirectly, any action designed to or that might reasonably be expected to cause or result in stabilization or manipulation of the price of the Securities to facilitate the sale or resale of the Securities.
2. Purchase, Sale and Delivery of the Securities, Additional Securities and Agreement to Issue Underwriters' Warrant.
(iia) On the Time basis of Sale Prospectus does notthe representations, andwarranties, covenants and agreements herein contained, but subject to the terms and conditions herein set forth, the Company and the Selling Shareholders agree to sell to each Underwriters, and each Underwriter, severally but not jointly, agrees to purchase from the Company and the Selling Shareholders at the time of each sale price per share and the price per warrant set forth below, that proportion of the number of shares of Class A Common Stock and Redeemable Warrants set forth in Schedule I opposite the name of such Underwriter that such number of shares of Class A Common Stock and Redeemable Warrants bears to the total number of shares of Class A Common Stock and Redeemable Warrants, respectively, subject to such adjustments as the Underwriters in their discretion shall make to eliminate any sales or purchases of fractional Securities, plus any additional numbers of Securities which the Underwriters may become obligated to purchase pursuant to the provisions of Section 11 hereof.
(b) In addition, on the basis of the representations, warranties, covenants and agreements, herein contained, but subject to the terms and conditions herein set forth, the Company and the Selling Shareholders hereby grant an option to the Underwriters, severally and not jointly, to purchase up to an additional 375,000 Shares from the Company and 150,000 Redeemable Warrants at the prices set forth below. The option granted hereby will expire 45 days after the date of this Agreement, and may be exercised in whole or in part from time to time only for the purpose of covering over-allotments which may be made in connection with the offering when and distribution of the Prospectus Additional Securities upon notice by the Representative to the Company and the Selling Shareholders setting forth the number of Additional Securities as to which the Underwriters is then exercising the option and the time and date of payment and delivery for such Additional Securities. The Underwriter shall purchase the first 100,000 Shares from the Company, and thereafter any remaining Additional Securities shall be purchased from the Selling Shareholders, provided, however, that the Underwriter shall purchase all of the Additional Securities owned by Messrs. Xxxxxxx and Xxxxxx before purchasing Additional Securities from any of the other Selling Shareholders. Any such time and date of delivery shall be determined by the Underwriters, but shall not yet available be later than seven full business days after the exercise of said option, nor in any event prior to prospective purchasers and at the Closing Date (Date, as defined in Section 5)paragraph (c) below, unless otherwise agreed to between the 11 Representative, the Time Selling Shareholders and the Company. In the event such option is exercised, each of Sale Prospectusthe Underwriters shall purchase such number of Additional Securities then being purchased which shall have been allocated to the Representative, and which such Underwriters shall have agreed to purchase. Nothing herein contained shall obligate the Underwriters to make any over-allotments. No Additional Securities shall be delivered unless the Firm Securities shall be simultaneously delivered or shall theretofore have been delivered as then amended herein provided.
(c) Payment of the purchase price for, and delivery of certificates for, the Firm Securities shall be made at the offices of counsel to the Representative in Atlanta, Georgia, or supplemented at such other place as shall be agreed upon by the Underwriters and the Company. Such delivery and payment shall be made at 10:00 a.m. (New York City time) on ___________, if applicable, will not, contain any untrue statement 1998 or at such other time and date as shall be designated by the Representative but not less than three (3) nor more than five (5) business days after the effective date of a material fact or omit to state a material fact necessary to make the statements thereinRegistration Statement (such time and date of payment and delivery being hereafter called "Closing Date"). In addition, in the light event that any or all of the circumstances under which they were madeAdditional Securities are purchased by the Underwriters, not misleadingpayment of the purchase price for, and delivery of certificates for such Additional Securities shall be made at the above-mentioned office or at such other place and at such time (iiisuch time and date of payment and delivery being hereinafter called "Option Closing Date") as shall be agreed upon by the Prospectus does not contain andRepresentative and the Company on each Option Closing Date as specified in the notice from the Representative to the Company. Delivery of the certificates for the Firm Securities and the Additional Securities, if any, shall be made to the Underwriters against payment by the Underwriters of the purchase price for the Firm Securities and the Additional Securities, if any, to the order of the Company as the case may be by certified check or, at the election of the Representative, all or a portion of the funds may be paid by Bank wire transfer of funds or by Representative's commercial check. Certificates for the Firm Securities and the Additional Securities, if any, shall be in definitive, fully registered form, shall bear no restrictive legends and shall be in such denominations and registered in such names as the Underwriters may request in writing at least two (2) business days prior to Closing Date or the relevant Option Closing Date, as amended the case may be. The certificates or supplementedthe Depository Trust Corporation electronic notifications, as the case may be, for the Securities and the Additional Securities, if applicableany, will not contain any untrue statement of a material fact shall be made available to the Underwriters at the above-mentioned office or omit such other place as the Underwriters may designate for inspection, checking and packaging no later than 9:30 a.m. on the last business day prior to state a material fact necessary to make Closing Date or the statements thereinrelevant Option Closing Date, in as the light case may be. The purchase price of the circumstances under which they were made, not misleading, except that Class A Common Stock and Redeemable Warrants to be paid by the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished Underwriters to the Company and the Selling Shareholders for the Securities purchased under Clauses (a) and (b) above will be $________ per Share and $________ per Redeemable Warrant (which price is net of the Underwriters' discount and commissions). Neither the Company nor the Selling Shareholders shall be obligated to sell any Securities hereunder unless all Firm Securities to be sold by the Company and the Selling Shareholders are purchased hereunder. The Company and the Selling Shareholders each agree to issue and sell 2,500,000 shares of the Class A Common Stock and the Company agrees to issue and sell 1,000,000 Redeemable Warrants to the Underwriters in writing by such Selling Shareholder expressly accordance herewith.
(d) On the Closing Date, the Company shall issue and sell to the Underwriters the Underwriters' Warrant at a purchase price of $___________, which warrant shall entitle the holders thereof to purchase an aggregate of 250,000 Shares and 50,000 Warrants. The Underwriters' Warrant shall be exercisable for use a period of four years commencing one year from the effective date of the Registration Statement at an initial exercise price equal to one hundred twenty percent (120%) of the initial public offering price of the Shares and Redeemable Warrants. The Underwriters' Warrant shall be substantially in the form filed as an Exhibit to the Registration Statement, . Payment for the Time Underwriters' Warrant shall be made on Closing Date. The Company has reserved and shall continue to reserve a sufficient number of Sale Prospectus, Shares for issuance upon exercise of the Prospectus or any amendments or supplements theretoUnderwriters' Warrant.
Appears in 1 contract
Samples: Underwriting Agreement (Outlook Sports Technology Inc)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder Shareholder, severally and not jointly, represents and warrants to and agrees with each of the Underwriters Underwriter that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power execution and delivery by each Selling Shareholder of, and the performance by such Selling Shareholder of Attorney and its obligations under, the Custody Agreement signed by such Selling Shareholder and American Stock Transfer & Trust Company, LLC as Custodian, relating to the deposit of stock powers related to the Shares to be sold by such Selling Shareholder (the “Custody Agreement”) and the Power of Attorney appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder Registration Statement (the “Power of Attorney and Custody AgreementAttorney”) will not contravene (i) any provision of applicable law, law (ii) the certificate of incorporation or bylaws by-laws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entitya corporation), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases case of clause clauses (i), (iii) as and (iv) where such contravention would not, individually singly or in the aggregate, impair the ability of have a material adverse effect on such Selling Shareholder Shareholder’s ability to consummate the transactions contemplated by perform its obligations under this Agreement or the Power of Attorney and Custody Agreement. No consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement, the Custody Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for (i) such consentsas has been obtained or will be obtained prior to the Closing Date, approvals, authorizations, orders or qualifications (ii) such as may be required by the Securities Act, the Exchange Act, the rules of the New York Stock Exchange, the Financial Industry Regulatory Authority (“FINRA”) or the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the SharesShares or (iii) such that would not reasonably be expected to have a material adverse effect on the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares Shares, including the Repurchase Shares, to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, and if applicable, the Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares Shares, including the Repurchase Shares, to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the UnderwritersUnderwriter, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts account of the Underwriters Underwriter (assuming that neither DTC nor any such the Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters Underwriter will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters Underwriter with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery delivery, registration and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts account of the several Underwriters Underwriter on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5)Date, the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except ; provided that the representations and warranties set forth in this paragraph 2(g2(f) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto, it being understood and agreed that such information consists only of such Selling Shareholder’s name and the information relating to its holdings of Common Stock set forth under the heading “Selling Shareholders” in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto (the “Selling Shareholder Information”).
(g) Such Selling Shareholder has not taken, and will not take, directly or indirectly, any action which is designed to or which has constituted or would be expected to cause or result in stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Shares.
Appears in 1 contract
Samples: Underwriting Agreement (Quintiles Transnational Holdings Inc.)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals and CIBC Mellon Trust Company, as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “"CUSTODY AGREEMENT") and the Power of Attorney appointing certain individuals as such Selling Shareholder's attorneys-in-fact to the extent set forth therein, relating to the transactions contemplated hereby and Custody Agreement”by the Registration Statement (the "POWER OF ATTORNEY") will not contravene (i) any provision of applicable law, (ii) or the certificate articles of incorporation or bylaws by-laws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entitya corporation), (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any foreign or domestic governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency (including without limitation any Canadian court or Canadian federal or provincial governmental authority) is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Custody Agreement or Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications (i) as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares, and (ii) for the filing of the Canadian Supplemental Prospectus.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “"security entitlement” " within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(e) Upon payment for [Delivery of the Shares to be sold by such Selling Shareholder and payment therefor pursuant to this Agreement, delivery of Agreement will pass valid title to such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee free and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice clear of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCCNew York Uniform Commercial Code, to each Underwriter who has purchased such Shares may without notice of an adverse claim. [NOTE: This version of the representation is to be asserted against used if Shares are to be delivered by the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries certificated form endorsed to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCCUnderwriters.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto.]
Appears in 1 contract
Samples: Underwriting Agreement (Corel Corp)
Representations and Warranties of the Selling Shareholders. Each ---------------------------------------------------------- Selling Shareholder Shareholder, severally and not jointly, represents and warrants to and agrees with each of Underwriter and the Underwriters Company that:
(a) This Agreement Such Selling Shareholder now has been duly authorizedand on the Closing Date, executed and delivered on any later date on which Option Shares are purchased, will have, valid marketable title to the Shares to be sold by such Selling Shareholder, free and clear of any pledge, lien, security interest, encumbrance, claim or on behalf equitable interest other than pursuant to this Agreement; and upon delivery of such Shares hereunder and payment of the purchase price as herein contemplated, each of the Underwriters will obtain valid marketable title to the Shares purchased by it from such Selling Shareholder, free and clear of any pledge, lien, security interest pertaining to such Selling Shareholder or such Selling Shareholder's property, encumbrance, claim or equitable interest, including any liability for estate or inheritance taxes, or any liability to or claims of any creditor, devisee, legatee or beneficiary of such Selling Shareholder.
(b) The execution and delivery by such Such Selling Shareholder ofhas duly authorized (if applicable) executed and delivered, and in form heretofore furnished to the performance by such Selling Shareholder of its obligations underRepresentatives, this an Irrevocable Custody Agreement and Power of Attorney (the "Power of Attorney and Custody Agreement") appointing Xxxxxx Xxxxxx as attorney-in-fact (the "Attorney") with Xxxxxx Xxxxxx as custodian (the "Custodian"); each Power of Attorney and Custody Agreement signed constitutes a valid and binding agreement on the part of such Selling Shareholder, enforceable in accordance with its terms, except as the enforcement thereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting creditors' rights generally or by general equitable principles; and each of such Selling Shareholders' Attorney, acting alone, is authorized to execute and deliver this Agreement and the certificate referred to in Section 7(h) hereof on behalf of such Selling Shareholder, to determine the purchase price to be paid by the several Underwriters to such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact provided in Section 4 hereof, to authorize the extent set forth therein and relating to the deposit delivery of the Selling Shareholder Shares and the Option Shares to be sold by such Selling Shareholder under this Agreement and to duly endorse (the “Power of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable law, (iiin blank or otherwise) the certificate of incorporation or bylaws certificates representing such Shares or a stock power or powers with respect thereto, to accept payment therefor, and otherwise to act on behalf of such Selling Shareholder in connection with this Agreement.
(if c) All consents, approvals, authorizations and orders required for the execution and delivery by such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No consent, approval, authorization the execution and delivery by or order of, or filing or qualification with, any governmental body or agency is required for the performance by on behalf of such Selling Shareholder of its obligations under this Agreement or and the Power of Attorney sale and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky laws and regulations delivery of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, Shares and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Option Shares to be sold by such Selling Shareholder free under this Agreement (other than, at the time of the execution hereof (if the Registration Statement has not yet been declared effective by the Commission), the issuance of the order of the Commission declaring the Registration Statement effective and clear of all security interestssuch consents, claimsapprovals, liens, equities authorizations or orders as may be necessary under state or other encumbrances securities or Blue Sky laws) have been obtained and are in full force and effect; such Selling Shareholder, if other than a natural person, has been duly organized and is validly existing in good standing under the laws of the jurisdiction of its organization as the type of entity that it purports to be; and such Selling Shareholder has full legal right right, power and power, and all authorization and approval required by law, authority to enter into and perform its obligations under this Agreement and the such Power of Attorney and Custody Agreement Agreement, and to sell, assign, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Sharesunder this Agreement.
(d) Such Selling Shareholder will not, during the Lock-up Period, effect the Disposition of any Securities now owned or hereafter acquired directly by such Selling Shareholder or with respect to which such Selling Shareholder has or hereafter acquires the power of disposition, otherwise than (i) as a bona fide gift or gifts, provided the donee or donees thereof agree in writing to be bound by this restriction, (ii) as a distribution to partners or shareholders of such Selling Shareholder, provided that the distributees thereof agree in writing to be bound by the terms of this restriction, or (iii) with the prior written consent of Xxxxxxxxx, Xxxxxxxx & Company LLC. The Power foregoing restriction is expressly agreed to preclude the holder of Attorney the Securities from engaging in any hedging or other transaction which is designed to or reasonably expected to lead to or result in a Disposition of Securities during the Lock-up Period, even if such Securities would be disposed of by someone other than the Selling Shareholder. Such prohibited hedging or other transactions would including, without limitation, any short sale (whether or not against the box) or any purchase, sale or grant of any right (including, without limitation, any put or call option) with respect to any Securities 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 Securities. Such Selling Shareholder also agrees and Custody consents to the entry of stop transfer instructions with the Company's transfer agent against the transfer of the securities held by such Selling Shareholder except in compliance with this restriction.
(e) Certificates in negotiable form for all Shares to be sold by such Selling Shareholder under this Agreement, together with a stock power or powers duly endorsed in blank by such Selling Shareholder, have been placed in custody with the Custodian for the purpose of effecting delivery hereunder.
(f) This Agreement has been duly authorized, authorized by each Selling Shareholder that is not a natural person and has been duly executed and delivered by or on behalf of such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder Shareholder, enforceable against such Selling Shareholder in accordance with its terms, except (i) as rights to indemnification hereunder may be limited by applicable law and except as the enforcement hereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting creditors’ ' rights generally, generally or by general equitable principles; and (ii) that the remedy performance of specific performance this Agreement and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion consummation of the court before transactions herein contemplated will not result in a breach or violation of any of the terms and provisions of or constitute a default under any bond, debenture, note or other evidence of indebtedness, or under any lease, contract, indenture, mortgage, deed of trust, loan agreement, joint venture or other agreement or instrument to which such Selling Shareholder is a party or by which such Selling Shareholder, or any proceeding may be brought.
(e) Upon payment for the Selling Shareholder Shares or any Option Shares to be sold by such Selling Shareholder pursuant hereunder, may be bound or, to this Agreement, delivery the best of such SharesSelling shareholders' knowledge, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares result in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice violation of any adverse claim (within the meaning law, order, rule, regulation, writ, injunction, judgment or decree of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares)any court, (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCCgovernment or governmental agency or body, (B) under Section 8-501 of the UCCdomestic or foreign, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, having jurisdiction over such Selling Shareholder may assume that when or over the properties of such paymentSelling Shareholder, delivery and crediting occuror, (x) if such Shares will have been registered Selling Shareholder is other than a natural person, result in any violation of any provisions of the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporationcharter, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning or other organizational documents of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCCsuch Selling Shareholder.
(fg) Such Selling Shareholder is has not prompted by taken and will not take, directly or indirectly, any action designed to or that might reasonably be expected to cause or result in stabilization or manipulation of the price of the Common Stock to facilitate the sale or resale of the Shares.
(h) Such Selling Shareholder has not distributed and will not distribute any prospectus or other offering material information concerning in connection with the Company or its subsidiaries which is not set forth in offering and sale of the Time of Sale Prospectus to sell its Shares pursuant to this AgreementShares.
(i) The All information furnished by or on behalf of such Selling Shareholder relating to such Selling Shareholder and the Selling Shareholder Shares that is contained in the representations and warranties of such Selling Shareholder in such Selling Shareholder's Power of Attorney and Custody Agreement or set forth in the Registration StatementStatement or the Prospectus is, when it and at the time the Registration Statement became or becomes, as the case may be, effective, did not contain andand at all times subsequent thereto through the Closing Date, and on any later date on which Option Shares are to be purchased, was or will be, true, correct and complete, and does not, and at the time the Registration Statement became or becomes, as amended or supplementedthe case may be, if applicableeffective and at all times subsequent thereto through the Closing Date (hereinafter defined), and on any later date on which Option Shares are to be purchased, will not not, contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein such information not misleading.
(j) Such Selling Shareholder will review the Prospectus and will comply with all agreements and satisfy all conditions on its part to be complied with or satisfied pursuant to this Agreement on or prior to the Closing Date, or any later date on which Option Shares are to be purchased, as the case may be, and will advise its Attorney and Xxxxxxxxx, Xxxxxxxx & Company LLC prior to the Closing Date or such later date on which Option Shares are to be purchased, as the case may be, if any statement to be made on behalf of such Selling Shareholder in the certificate contemplated by Section 7(h) would be inaccurate if made as of the Closing Date or such later date on which Option Shares are to be purchased, as the case may be.
(iik) Such Selling Shareholder does not have, or has waived prior to the Time date hereof, any preemptive right, co-sale right or right of Sale Prospectus does notfirst refusal or other similar right, and, at the time of each sale in order to purchase any of the Shares that are to be sold by the Company or any of the other Selling Shareholders to the Underwriters pursuant to this Agreement; such Selling Shareholder does not have, or has waived prior to the date hereof, any registration right or other similar right, in connection order to participate in the offering made by the Prospectus, other than such rights of participation as have been satisfied by the participation of such Selling Shareholder in the transactions to which this Agreement relates in accordance with the offering when the Prospectus is terms of this Agreement; and such Selling Shareholder does not yet available own any warrants, options or similar rights to prospective purchasers acquire, and at the Closing Date (as defined in Section 5)does not have any right or arrangement to acquire, the Time of Sale Prospectusany capital stock, as then amended rights, warrants, options or supplemented by other securities from the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, other than those described in the light Registration Statement and the Prospectus.
(l) Such Selling Shareholder is not aware (with respect to Selling Shareholders who are not officers or directors of the circumstances under which they were madeCompany, not misleading, and (iiiwithout having conducted any investigation or inquiry) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain that any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties of the Company set forth in this paragraph 2(g) are limited to statements Section 2 above is untrue or omissions made inaccurate in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements theretomaterial respect.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally represents and warrants to and agrees with each of the Underwriters that:
(a) It has the power, capacity and authority to enter into and execute this Agreement and, on the Closing Date, it will have the power, capacity and authority to enter into and execute each applicable Deed of Transfer (as defined below) of such Selling Shareholder and, if applicable, such Selling Shareholder’s Power of Attorney (as defined below).
(b) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(bi) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, each of such Selling Shareholder’s deeds of transfer, to be dated the Power of Attorney and Custody Agreement signed Closing Date, pursuant to which the Shares to be sold by such Selling Shareholder will be transferred by such Selling Shareholder to or as directed by the Underwriters in accordance with this Agreement (all such deeds of transfer to be executed and delivered by the Selling Shareholders, the “Deeds of Transfer”), and the power of attorney appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit transactions contemplated hereby and by the Registration Statement (all such powers of the Shares attorney to be sold executed and delivered by such the Selling Shareholder (Shareholders, the “Power Powers of Attorney and Custody AgreementAttorney”) will not contravene (iA) any provision of applicable law, law or (iiB) the certificate of incorporation incorporation, memorandum or bylaws articles of association or by-laws or other constituent documents of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity)not a natural person, (iiiC) any agreement or other instrument binding upon such Selling Shareholder or (ivD) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling ShareholderShareholder or any of its subsidiaries, except in the cases of clause with respect to (iiiA), (C) and (D) insofar as would not, individually not reasonably be expected to have a Material Adverse Effect or in reasonably be expected to have a material adverse effect on the aggregate, impair public offering of the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement Shares or the Power consummation of Attorney any other transaction contemplated thereby and Custody Agreement. No (ii) no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement Agreement, each of such Selling Shareholder’s Deeds of Transfer or, if applicable, such Selling Shareholder’s Power of Attorney, except for (A) such consentsas have been obtained under the Securities Act or the Exchange Act, approvals, authorizations, orders or qualifications (B) such as may be required by the securities or blue sky Blue Sky laws and regulations of the various U.S. states in connection with the offer and sale of the Shares, and (C) such consent, approval, authorization or order of, or qualification with, which failure to obtain would not reasonably be expected to have a Material Adverse Effect or a material adverse effect on the public offering of the Shares or the consummation of any other transaction contemplated thereby.
(cd) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, to the Shares to be sold by such Selling Shareholder on such Closing Date, free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization authorizations and approval approvals required by law, to enter into this Agreement and the Agreement, each applicable Deed of Transfer of such Selling Shareholder and, if applicable, such Selling Shareholder’s Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder on such Closing Date or a security entitlement in respect of such Shares.
(d) The Power . Such Selling Shareholder, at each of Attorney the time of signing and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement consummation of each applicable Deed of Transfer of such Selling Shareholder enforceable against Shareholder, will have the power (beschikkingsbevoegd) to sell and deliver such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be brought.
(e) Upon payment for the Shareholder’s Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery such Deed of such SharesTransfer, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), and such Selling Shareholder’s Shares will be, at each such time, free and clear of rights of pledge, usufruct and other encumbrances.
(e) Such Selling Shareholder’s Power of Attorney, if applicable, has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding instrument of such Selling Shareholder. Each applicable Deed of Transfer of such Selling Shareholder, at the Closing Date, will have been duly authorized, executed and delivered by such Selling Shareholder and will be a valid and binding agreement of such Selling Shareholder.
(f) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede or such other nominee as may be designated by the DTC, registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to the respective securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be meritoriously asserted against the Underwriters with respect to such security entitlement; provided that, for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (xa) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws bylaws, other organizational documents and applicable law, (yb) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and UCC, (zc) appropriate entries to the respective accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC and (d) the law of the State of New York is the securities intermediary’s jurisdiction for purposes of Article 8 of the UCC.
; provided further that this representation is subject to the following qualifications: (fi) Such Selling Shareholder is not prompted by to the extent DTC, or any material information concerning other securities intermediary which acts as “clearing corporation” with respect to the Company Shares, maintains any “financial asset” (as defined in Section 8-102(a)(9) of the UCC) in a clearing corporation pursuant to Section 8-111 of the UCC, the rules of such clearing corporation may affect the rights of DTC or its subsidiaries which is not other securities intermediaries and the ownership interests of the Underwriters, (ii) claims of creditors of DTC or any other securities intermediary or clearing corporation may be given priority to the extent set forth in Section 8-511(b) and 8-511(c) of the Time UCC and (iii) if at any time DTC or any other securities intermediary does not have sufficient Shares to satisfy claims of Sale Prospectus to sell all of its entitlement holders with respect thereto then all holders will share pro rata in the Shares pursuant to this Agreementthen held by DTC or such securities intermediary.
(i) The Each part of the Registration Statement, when it such part became effective, did not contain andcontain, and each such part, as amended or supplemented, if applicable, did not or will not contain contain, on the date of any such amendment or supplement, any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Registration Statement as of the date hereof does not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (iii) the Registration Statement and each part thereof, as of the date it became effective and as of the date hereof, did and, as amended or supplemented, if applicable, will comply in all material respects with the Securities Act and the applicable rules and regulations of the Commission thereunder, (iv) the Prospectus (as amended or supplemented, if applicable) and each preliminary prospectus filed as part of the Registration Statement as originally filed or as part of any amendment thereto, or filed pursuant to Rule 424 under the Securities Act, when filed, on the date hereof and at the Applicable Time complied, and on the Closing Date will, comply in all material respects with the Securities Act and the applicable rules and regulations of the Commission thereunder , (v) the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Applicable Time and on the Closing Date (as defined in Section 5)Date, the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, (vi) each broadly available road show, if any, when considered together with the Time of Sale Prospectus, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading and (iiivii) the Prospectus does not contain and, (as amended or supplemented, if applicable), on the date of any filing with the Commission, on the date hereof, at the Applicable Time and on the Closing Date, did or does not and will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except provided that the representations and warranties set forth in this paragraph 2(g(g) are limited to statements or omissions made in reliance based upon and or in conformity with information relating to such Selling Shareholder furnished to the Company in writing by or on behalf of such Selling Shareholder specifically for inclusion in the documents referred to above in this paragraph (g), it being understood that in each case such information consists solely of (i) the name of such Selling Shareholder and (ii) the number of Shares owned and proposed to be sold by such Selling Shareholder expressly for use (the names of all Selling Shareholders and all of the amounts of Shares owned and proposed to be sold by the Selling Shareholders, collectively, the “Selling Shareholder Information”).
(h) Such Selling Shareholder has not taken and will not take, directly or indirectly, any action that is designed to or that has constituted or that could reasonably be expected to cause or result in the Registration Statement, stabilization or manipulation of the Time price of Sale Prospectus, any security of the Prospectus Company to facilitate the sale or any amendments or supplements theretoresale of the Shares.
Appears in 1 contract
Samples: Underwriting Agreement (Philips Pension Trustees LTD)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder Shareholder, severally and not jointly, represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement the Custody Agreement signed by Fidelity Investments Charitable Gift Fund (“Fidelity”) and Broadridge Corporate Issuer Solutions, Inc., as Custodian, relating to the deposit of the Shares to be sold by Fidelity (the “Custody Agreement”) and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling ShareholderFidelity’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder Registration Statement (the “Power of Attorney and Custody AgreementAttorney”) will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) incorporation, by-laws or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity)Shareholder, (iii) or any agreement or other instrument binding upon such Selling Shareholder that is material to such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or, if applicable, the Custody Agreement or the Power of Attorney and Custody Agreement of such Selling ShareholderAttorney, except for as may have been obtained prior to the execution of this Agreement or such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) The Custody Agreement and the Power of Attorney have been duly authorized, executed and delivered by Fidelity and are valid and binding agreements of Fidelity.
(d) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code (the “UCC”) in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and, if applicable, the Custody Agreement and the Power of Attorney and Custody Agreement Attorney, and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be brought.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) UCC to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, ,” within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(g) (i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, (iii) each broadly available road show, if any, when considered together with the Time of Sale Prospectus, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading and (iiiiv) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except ; provided that the representations and warranties set forth in this paragraph 2(g) are limited in all respects to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto.
Appears in 1 contract
Samples: Underwriting Agreement (U.S. Silica Holdings, Inc.)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder as to itself, severally and not jointly, represents and warrants to and agrees with the Company and each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder and The Bank of New York, as Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Custody Agreement”) and the Power of Attorney appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder Registration Statement (the “Power of Attorney and Custody AgreementAttorney”) will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) by-laws or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entitynot a natural person), (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency agency, including but not limited to the Commission and the NASD, is required for the performance by such Selling Shareholder of its obligations under this Agreement, the Custody Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the SharesShares and such other approvals as have been obtained.
(c) Such Selling Shareholder has, and on the Closing Date and each Option Closing Date, if any, will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code (the “UCC”) in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, ,” within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws constitution and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading and (iii) the Pricing Disclosure Package as of the Applicable Time did not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except ; provided that the representations and warranties set forth in this paragraph 2(g2(f) are limited solely to statements or omissions made in reliance upon and in conformity with written information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use under the caption “Principal and Selling Stockholders” in the Registration Statement, the Time of Sale Pricing Prospectus, the Prospectus or any amendments or supplements thereto.
(g) Such Selling Shareholder has not taken and will not take, directly or indirectly, any action which is designed to or which has constituted or which might reasonably be expected to cause or result in stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Shares.
(h) In order to document the Underwriters’ compliance with the reporting and withholding provisions of the Tax Equity and Fiscal Responsibility Act of 1982 with respect to the transactions herein contemplated, such Selling Shareholder will deliver to the Representatives prior to or at the Closing Date a properly completed and executed U.S. Treasury Department Form W-9 (or other applicable form or statement specified by the U.S. Treasury Department regulations evidencing such Selling Shareholder’s exemption from backup withholding tax).
(i) Except as disclosed by such Selling Shareholder in writing to the Representatives, neither such Selling Shareholder nor any of his, her or its affiliates directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, or has any other association with (within the meaning of Article 1(q) of the By-laws of the NASD), any member firm of the NASD.
Appears in 1 contract
Samples: Underwriting Agreement (International Securities Exchange, Inc.)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally represents and warrants to as set out in Section 2(a) below, as well as (i) if Xxxxx Sports & Media (Hong Kong) Holding Co. Ltd. (the “Principal Selling Shareholder”), as set out in Section 2(b) below, or (ii) if a Selling Shareholder other than the Principal Selling Shareholder (each, a “Non-Principal Selling Shareholder”), as set out in Section 2(c) below.
(a) Each Selling Shareholder severally represents and agrees with each of the Underwriters warrants that:
(ai) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(bii) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder and the Company, as Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Custody Agreement”) and the Power of Attorney appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder Registration Statement (the “Power of Attorney and Custody AgreementAttorney”) will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation or bylaws by-laws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entitya corporation), (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Custody Agreement or Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the SharesShares and the ADSs.
(ciii) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code (the “UCC”)) in respect of, the ADSs and the underlying Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and powerShareholder, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the ADSs and the underlying Shares to be sold by such Selling Shareholder or a security entitlement in respect of such ADSs and the underlying Shares and to deposit with the Depositary the Shares to be sold by such Selling Shareholder against issuance of the ADSs evidencing the Shares.
(div) The Custody Agreement, the Power of Attorney and Custody Agreement has the Lock-up Letter have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against Shareholder.
(v) Other than the Registration Statement, the Time of Sale Prospectus and the Prospectus, such Selling Shareholder in accordance with its termshas not, except (i) as limited by bankruptcydirectly or indirectly, insolvencyprepared, reorganizationused, moratorium authorized, approved or similar laws affecting creditors’ rights generallyreferred to, and (ii) that will not distribute, prepare, use, authorize, approve or refer to, any offering material in connection with the remedy of specific performance offering and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion sale of the court before which any proceeding may be brought.ADSs;
(evi) Upon payment for the Shares to be ADSs sold by such Selling Shareholder pursuant under this Agreement and the delivery by such Selling Shareholder to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the The Depository Trust Company (“DTC”), registration of such Shares in the name of Cede ) or such other nominee and the crediting of such Shares on the books of DTC to securities accounts its agent of the ADSs in book-entry form to a securities account maintained by the Representatives at DTC or its nominee, and payment therefor in accordance with this Agreement, the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim will acquire a securities entitlement (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCCUCC with respect to such ADSs, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of ” (as defined in Section 8-102 of the UCC, to such Shares ) may be asserted against the Underwriters with respect to such security entitlement; for purposes entitlement if, at such time, the Underwriters do not have notice of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” any adverse claim within the meaning of Section 8-102 105 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(fvii) Such Selling Shareholder has not taken, and will not take, directly or indirectly, any action which is designed to or which constituted or would be expected to cause or result in stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the ADSs.
(viii) [Except as disclosed to the Underwriters,] neither such Selling Shareholder nor any of its affiliates, directly or indirectly, controls, or is controlled by, or is under common control with any member firm of FINRA or is a person associated with a member of FINRA.
(ix) Except as disclosed in the Registration Statement, the Time of Sale Prospectus and the Prospectus, such Selling Shareholder does not have any registration or other similar rights to have any equity or debt securities registered for sale by the Company under the Registration Statement or included in the Offering contemplated by this Agreement.
(b) In addition, the Principal Selling Shareholder represents and warrants that:
(i) The Principal Selling Shareholder has no reason to believe that the representations and warranties of the Company contained in Section 1 are not true and correct, is familiar with the Registration Statement, the Time of Sale Prospectus and the Prospectus and has no knowledge of any material fact, condition or information not disclosed in the Time of Sale Prospectus or the Prospectus that has had, or may have, a Material Adverse Effect. The Principal Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries the Subsidiaries and Affiliated Entities which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(iii) The (A) Each of the Registration Statement and the ADS Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (iiB) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares ADSs in connection with the offering Offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iiiC) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(gSection 2(b)(ii) are limited do not apply to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, Statement or the Prospectus based upon the Underwriting Information (as defined in Section 9).
(iii) (A) None of the Principal Selling Shareholder nor any of its subsidiaries, nor any director, officer or employee thereof, nor, to the Principal Selling Shareholder’s knowledge, any agent, affiliate, representative or other person associated with or acting on behalf of the Principal Selling Shareholder or any amendments of its subsidiaries or supplements theretoaffiliates, is a Person that is, or is owned or controlled by one or more Persons that are:
(1) the subject of any Sanctions, or
(2) located, organized or resident in a country or territory that is the subject of Sanctions (including, without limitation, Crimea, Cuba, Iran, North Korea, Sudan and Syria).
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder Shareholder, severally and not jointly, as to itself represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Custody Agreement and Irrevocable Power of Attorney and Custody Agreement signed by such Selling Shareholder, Xxxxx Fargo Bank, N.A., as Custodian, and the Company, relating to the deposit of the security entitlements with respect to the Shares to be sold by such Selling Shareholder and appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder Registration Statement (the “Custody Agreement and Power of Attorney and Custody AgreementAttorney”) will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation incorporation, by-laws or bylaws other organizational documents, as applicable, of such Selling Shareholder (if such Selling Shareholder is an entity) a corporation, limited liability company or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), or (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except provided that, in the cases case of clause clauses (i) and (iii) as above, for any such breach, violation or default that would not, not individually or in the aggregate, impair aggregate materially interfere with the consummation of the transactions contemplated by the Agreement or the Custody Agreement and Power of Attorney or the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney perform its obligations hereunder and Custody Agreement. No thereunder, and no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Custody Agreement and Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the United States federal and state securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares. For the avoidance of doubt, Selling Shareholder GA SS Holding II LLC has entered into a “Custody Agreement” and not a “Custody Agreement and Power of Attorney,” and all references to Custody Agreement and Power of Attorney in this Agreement shall be deemed, when applicable to GA SS Holding II LLC as Selling Shareholder, to refer to said Custody Agreement.
(c) Such With respect to the Shares to be sold by such Selling Shareholder that are outstanding on the date hereof, such Selling Shareholder has, and with respect to such Shares to be sold upon exercise of Options on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code (the “UCC”) in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances (other than those created by the Custody Agreement and Power of Attorney) and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Custody Agreement and Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Custody Agreement and Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its termsShareholder, except (i) as limited by subject to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or and similar laws of general applicability, relating to or affecting creditors’ creditor rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion general principles of the court before which any proceeding may be broughtequity.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) UCC to such Shares), (Ai) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (Bii) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (Ciii) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be successfully asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except provided that the representations and warranties set forth in this paragraph 2(g2(f) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use therein.
(g) Such Selling Shareholder has executed a “lock-up” agreement, substantially in the Registration Statementform of Exhibit A-1 or Exhibit A-2 hereto, relating to sales and certain other dispositions of shares of Common Stock or certain other securities, that is in full force and effect as of the Time date hereof and shall be in full force and effect as of Sale Prospectus, the Prospectus or any amendments or supplements theretoClosing Date.
Appears in 1 contract
Samples: Underwriting Agreement (Servicesource International LLC)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder Shareholder, severally and not jointly, represents and warrants to and agrees with each of the Underwriters Underwriter that:
(a) This Agreement has been duly authorizedauthorized (if such Selling Shareholder is not a natural person), executed and delivered by or on behalf of such Selling ShareholderShareholder and the transactions contemplated by this Agreement have been duly authorized by or on behalf of such Selling Shareholder (if such Selling Shareholder is not a natural person).
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of a corporation, limited liability company, partnership or other entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases case of clause clauses (i), (iii) and (iv) as would not, individually or in the aggregate, impair have a material adverse effect on the ability of such the Selling Shareholder Shareholders to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling ShareholderAgreement, except for (i) such consentsas may have already been obtained, approvals, authorizations, orders or qualifications (ii) such as may be required by the securities or blue sky laws and regulations of the various states in connection with the offer and sale of the SharesShares by the securities, anti-fraud or blue sky laws of the various states, the approval for listing of the Shares on the New York Stock Exchange and the approval of the underwriting terms and arrangements by the Financial Industry Regulatory Authority, Inc. or (iii) such that would not reasonably be expected to have a material adverse effect on the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” (within the meaning of Section 8-501 102(a)(17) of the New York Uniform Commercial Code in respect of, (the “NYUCC”)) to the Shares to be sold by such Selling Shareholder in a securities account maintained with DTC, free and clear of all security interests, any claims, liens, equities or other encumbrances and the legal right and powerencumbrances, and all authorization and approval required by law, to enter into this Agreement and assuming that the Power of Attorney and Custody Agreement and to sell, transfer and deliver Underwriter acquires its interest in the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement it has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be brought.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has purchased without notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (NYUCC), upon the “UCC”)) crediting of such Shares to the securities account of the Underwriter maintained with DTC and payment therefor by the Underwriter, as provided herein, the Underwriter will acquire a security entitlement to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares claim may be asserted against the Underwriters Underwriter with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery payment and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC NYUCC and (zy) appropriate entries to the accounts account of the several Underwriters Underwriter on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this AgreementNYUCC.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, misleading and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g2(d) are limited in all respects to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by or on behalf of such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto, it being understood and agreed that for purposes of this Agreement, the only information furnished by such Selling Shareholder consists of the name of such Selling Shareholder, the number of offered shares and the address and other information with respect to such Selling Shareholder (excluding percentages) which appear in the Registration Statement or any Prospectus in the table (and corresponding footnotes) under the caption “Selling Shareholders” (with respect to each Selling Shareholder, the “Selling Shareholder Information”).
(e) With respect to any Selling Shareholder that is a non-U.S. person, such Selling Shareholder has the power to submit, and pursuant to Section 19(a) has, to the extent permitted by law, legally, validly, effectively and irrevocably submitted, to the jurisdiction of the Specified Courts (as defined in Section 19(a)), and has the power to designate, appoint and empower, and pursuant to Section 19(b), has legally, validly and effectively designated, appointed and empowered an agent for service of process in any suit or proceeding based on or arising under this Agreement in any of the Specified Courts.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement, the Custody Agreement (as applicable) signed by such Selling Shareholder and [—], as Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Custody Agreement”) and the Power of Attorney and Custody Agreement signed by such Selling Shareholder (as applicable) appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder Registration Statement (the “Power of Attorney and Custody AgreementAttorney”) will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation or bylaws by-laws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entitya corporation), (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, Shareholder except in the cases of clause (iii) as for such contravention that would not, individually or in the aggregate, impair not have a material adverse effect on the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney hereby, and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Custody Agreement or Power of Attorney and Custody Agreement of such Selling ShareholderShareholder (as applicable), except for such consents, approvals, authorizations, orders or qualifications as (i) may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares, or (ii) as may be required by the rules of FINRA.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement (as applicable) and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Custody Agreement and the Power of Attorney and Custody Agreement has (as applicable) have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its termsShareholder, except subject to (i) as limited by bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or and similar laws of general applicability relating to or affecting creditors’ rights generally, and to general equity principles and (ii) enforceability of any indemnification or contribution provision that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses limited under the federal and to the discretion of the court before which any proceeding may be broughtstate securities laws.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (CB) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws (if such Selling Shareholder is a corporation) and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) each road show, if any, when considered together with the Prospectus Time of Sale Prospectus, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading and (iv) the Prospectus, as of its date, does not contain and, as amended or supplemented, if applicable, as of the date of such amendment of supplement, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except provided that the representations and warranties set forth in this paragraph 2(g2(f) are limited apply only to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished in writing by or on behalf of such Selling Shareholder to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement the Time of Sale Prospectus, the Prospectus, each road show, or any other issuer free writing prospectus or any amendment or supplements thereto (it being understood that the only such information relating to the Selling Shareholders included in the Registration Statement, the Time of Sale Prospectus, the Prospectus Prospectus, each road show, or any amendments other issuer free writing prospectus or any amendment or supplements thereto is the beneficial ownership total and information relating thereto included under the heading “Principal and Selling Stockholders” in the Registration Statement).
(g) The Shares to be sold by such Selling Shareholder were (i) issued to such Selling Shareholder pursuant to the Fourth Amended Joint Plan of Reorganization for Tribune Company and its Subsidiaries Proposed by the Debtors, the Official Committee of Unsecured Creditors, Oaktree Capital Management, L.P., Xxxxxx, Xxxxxx & Co., L.P. and JPMorgan Chase Bank, N.A. (in the form confirmed by the order of the United States Bankruptcy Court for the District of Delaware, dated July 23, 2012 (such order and such plan, including all appendices and exhibits thereto, the “Plan”) or (ii) issued to such Selling Shareholder pursuant to the Company’s certificate of incorporation upon conversion of shares of the Company’s Class B common stock, par value $0.001 per share (“Class B Stock”), issued to such Selling Stockholder pursuant to the Plan.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation incorporation, bylaws or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other similar organizational documents of such Selling Shareholder (if Shareholder, or, except as would not, individually or in the aggregate, reasonably be expected to materially impact such Selling Shareholder is another type of entity)Shareholder’s ability to perform its obligations under this Agreement, (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body body, agency or agency court is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling ShareholderAgreement, except for such consentsas will have been obtained on or prior to the Closing Date, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states or by FINRA rules or regulations in connection with the offer and sale of the Shares, or as would not, individually or in the aggregate, reasonably be expected to materially impact such Selling Shareholder’s ability to perform its obligations under this Agreement.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be brought.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(e) Such Selling Shareholder has delivered to the Representatives an executed lock-up agreement in substantially the form attached hereto as Exhibit A (the “Lock-up Agreement”).
(f) Such Selling Shareholder has not taken and will not take, directly or indirectly, any action that is designed to or that might reasonably be expected to cause or result in unlawful stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Shares.
(g) Such Selling Shareholder is not prompted by any material non-public information concerning the Company or its subsidiaries which is not set forth in the Registration Statement, the Time of Sale Prospectus or the Prospectus to sell its Shares pursuant to this Agreement.
(ih) The To the extent that any statements or omissions made in the Registration Statement, when it became effectivethe Time of Sale Prospectus, did not contain andany broadly available road show, as amended the Prospectus or supplementedany amendment or supplement thereto, if applicable, are made in reliance upon and in conformity with the Selling Shareholder Information (as defined below), such Registration Statement, Time of Sale Prospectus, broadly available road show, if any, did not and any further amendments or supplements to the Registration Statement and the Prospectus will not not, when they become effective or are filed with the Commission, as the case may be, contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, at the time of each sale . “Selling Shareholder Information” consists solely of the Shares in connection information with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating respect to such Selling Shareholder furnished to under the Company in writing by such caption “Principal and Selling Shareholder expressly for use Stockholders” in the Registration Statement, the Time of Sale Prospectus and the Prospectus.
(i) Such Selling Shareholder will not, directly or knowingly indirectly, use the proceeds of the offering contemplated by this Agreement, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other individual or entity in any manner that will result in a violation of any Sanctions by, or could result in the imposition of Sanctions against, any person (including any person participating in the offering contemplated by this Agreement, whether as underwriter, advisor, investor or otherwise).
(j) The obligations of such Selling Shareholder hereunder shall not be terminated by operation of law, whether by the dissolution of such Selling Shareholder or by the occurrence of any other event; if such Selling Shareholder shall be dissolved, or if any other such event should occur, before the delivery of the Shares to be sold by such Selling Shareholder hereunder, such Shares shall be delivered by or on behalf of such Selling Shareholder in accordance with the terms and conditions of this Agreement.
(k) No stamp, documentary, issuance, registration, transfer, withholding, capital gains, income or other taxes or duties are payable by or on behalf of the Underwriters, the Prospectus Company or any amendments of its subsidiaries in Luxembourg or supplements theretothe Cayman Islands or to any taxing authority thereof or therein in connection with (i) the execution, delivery or consummation of this Agreement, provided that nominal Cayman Islands stamp duty will be payable on this Agreement by the Company if it is executed in or brought to the Cayman Islands, or produced before a Cayman Islands Court, (ii) the sale and delivery of the Shares to the Underwriters or purchasers procured by the Underwriters, or (iii) the resale and delivery of the Shares by the Underwriters in the manner contemplated herein.
(l) Such Selling Shareholder has the power to submit, and pursuant to Section 17(a) has, to the extent permitted by law, legally, validly, effectively and irrevocably submitted, to the jurisdiction of the Specified Courts (as defined in Section 17(a)).
(m) Each of Great Hollow International, L.P., GSO Capital Opportunities Fund III LP, and GSO Barre des Ecrins Master Fund SCSp (together, the “Non-U.S. Selling Shareholders”) has the power to designate, appoint and empower, and pursuant to Section 17(b), has legally, validly and effectively designated, appointed and empowered an agent for service of process in any suit or proceeding based on or arising under this Agreement in any of the Specified Courts.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each of the Selling Shareholder severally Shareholders represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals and Mellon Investor Services LLC, as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “"CUSTODY AGREEMENT") and the Power of Attorney appointing certain individuals as such Selling Shareholder's attorneys-in-fact to the extent set forth therein relating to the transactions contemplated hereby and Custody Agreement”) by the Registration Statement (the "POWER OF ATTORNEY"), will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation incorporation, by-laws or bylaws formation document of such Selling Shareholder (if such Selling Shareholder is an entitya corporation) or other organizational documents the trust agreement of such Selling Shareholder (if such Selling Shareholder is another type of entitya trust), (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Custody Agreement or Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders as have already been obtained or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, to the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such SharesShareholder.
(d) The Shares to be sold by such Selling Shareholder pursuant to this Agreement have been duly authorized and are validly issued, fully paid and non-assessable.
(e) The Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder Shareholder, enforceable against such Selling Shareholder in accordance with its their respective terms, except (i) as limited by subject to applicable bankruptcy, insolvency, reorganization, moratorium insolvency or similar laws affecting creditors’ ' rights generally, generally and (ii) that the remedy general principles of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtequity.
(ef) Upon payment for Delivery of the Shares to be sold by such Selling Shareholder pursuant to this AgreementAgreement will pass title to such Shares free and clear of any security interests, delivery claims, liens, equities and other encumbrances.
(g) There are no legal or governmental proceedings pending or, to the knowledge of such SharesSelling Shareholder, as directed threatened to which such Selling Shareholder is a party or to which any of the properties of such Selling Shareholder is subject other than proceedings that would not have a material adverse effect on the power or ability of such Selling Shareholder to perform its obligations under this Agreement or to consummate the transactions contemplated by the UnderwritersProspectus.
(h) Upon Transfer (as defined below) of the Shares to The Depository Trust Company, to Cede & Co. (“Cede”) or such other nominee as may be designated by the The Depository Trust Company (“DTC”), registration will acquire the Shares free of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any all adverse claim claims (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)Sections 8- 102(a)(1) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto.
Appears in 1 contract
Samples: Underwriting Agreement (Bunge LTD)
Representations and Warranties of the Selling Shareholders. Each of the Selling Shareholder Shareholders severally represents and warrants to and agrees with each of the Underwriters thatas follows:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Such Selling Shareholder of, now has and at the performance by such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals Option Closing Date (as such Selling Shareholder’s attorneys-in-fact dates is hereinafter defined) will have good and valid title to the extent set forth therein and relating to the deposit of the Option Shares to be sold by such Selling Shareholder, free and clear of any liens, encumbrances, equities and claims, and full right, power and authority to effect the sale and delivery of such Option Shares; and upon the delivery of, against payment for, such Option Shares pursuant to this Agreement, the Underwriters will acquire good and valid title thereto, free and clear of any liens, encumbrances, equities and claims.
(b) Such Selling Shareholder (has full right, power and authority to execute and deliver this Agreement, the “Power of Attorney Attorney, and Custody Agreement”) will not contravene (i) any provision the Custodian Agreement referred to below and to perform its obligations under such Agreements. The execution and delivery of applicable law, (ii) this Agreement and the certificate of incorporation or bylaws of consummation by such Selling Shareholder (if of the transactions herein contemplated and the fulfillment by such Selling Shareholder is an entity) of the terms hereof will not require any consent, approval, authorization, or other order of any court, regulatory body, administrative agency or other governmental body (except as may be required under the Act, state securities laws or Blue Sky laws) and will not result in a breach of any of the terms and provisions of, or constitute a default under, organizational documents of such Selling Shareholder (Shareholder, if not an individual or any indenture, mortgage, deed of trust or other agreement or instrument to which such Selling Shareholder is another type of entity)a party, (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental bodyorder, agency rule or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder regulation applicable to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement any court or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders any regulatory body or qualifications as may be required by the securities administrative agency or blue sky laws and regulations of the various states in connection with the offer and sale of the Sharesother governmental body having jurisdiction.
(c) Such Selling Shareholder hashas not taken and will not take, and on the Closing Date will havedirectly or indirectly, valid title any action designed to, or a valid “security entitlement” within which has constituted, or which might reasonably be expected to cause or result in the meaning of Section 8-501 stabilization or manipulation of the New York Uniform Commercial Code in respect ofprice of the Common Stock of the Company and, other than as permitted by the Act, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities will not distribute any prospectus or other encumbrances and offering material in connection with the legal right and power, and all authorization and approval required by law, to enter into this Agreement and offering of the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power Without having undertaken to determine independently the accuracy or completeness of Attorney either the representations and Custody Agreement has been duly authorizedwarranties of the Company contained herein or the information contained in the Registration Statement, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) has no reason to believe that the remedy of specific performance representations and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion warranties of the court before Company contained in Section 1 are not true and correct, is familiar with the Registration Statement and has no knowledge of any material fact, condition or information not disclosed in the Registration Statement which any proceeding has adversely affected or may be brought.
(e) Upon payment for adversely affect the business of the Company; and the sale of the Option Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder hereto is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) Registration Statement or the documents incorporated by reference therein. The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating pertaining to such Selling Shareholder furnished to under the Company in writing by such caption "Principal and Selling Shareholder expressly for use Stockholders" in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements theretois complete and accurate in all material respects.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder Shareholder, severally and not jointly, represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power share transfer agreements, each to be dated the Closing Date, pursuant to which the Shares to be sold by such Selling Shareholder will be transferred by such Selling Shareholder to the Underwriters in accordance with this Agreement (the “Share Transfer Agreements”) and (other than in the case of Attorney and Sensata Investment Company S.C.A.) the Custody Agreement and Agreement to Sell signed by such Selling Shareholder and Sensata Technologies, Inc., as Custodian, relating to the Shares to be sold by such Selling Shareholder (the “Custody Agreement”), and (other than in the case of Sensata Investment Company S.C.A.) the Power of Attorney appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder Registration Statement (the “Power of Attorney and Custody AgreementAttorney”) will not contravene (i) any provision of applicable law, (ii) or the articles of organization, articles of association, certificate of incorporation or incorporation, bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational constituent documents of such Selling Shareholder (if such Selling Shareholder is another type of a corporation, Luxembourg société en commandite par actions or other business entity), (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Share Transfer Agreements, the Custody Agreement or Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement Attorney, as applicable, and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Custody Agreement and the Power of Attorney and Custody Agreement has Attorney, to the extent such Selling Shareholder is a party thereto, have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its termsShareholder, except (i) as to the extent that enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium reorganization or similar other laws affecting enforcement of creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of or by general equitable relief may be subject to equitable defenses and to the discretion principles. The Share Transfer Agreements as of the court before which any proceeding may Closing Date will have been duly authorized, executed and delivered by such Selling Shareholder and will be broughtvalid and binding agreements of such Selling Shareholder.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts account(s) of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts account(s) of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Registration Statement and the Prospectus comply and, as amended or supplemented, if applicable, will comply in all material respects with the Securities Act and the applicable rules and regulations of the Commission thereunder, (iii) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, misleading and (iiiiv) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, ; except that the representations and warranties set forth in this paragraph 2(g) are limited made only as to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by or on behalf of such Selling Shareholder expressly specifically for use in the preparation of the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements theretosuch other documents.
Appears in 1 contract
Samples: Underwriting Agreement (Sensata Technologies Holding N.V.)
Representations and Warranties of the Selling Shareholders. Each Except with respect to the Share Repurchase Agreement and the Concurrent Share Repurchase for any Selling Shareholder that is not a party to the Share Repurchase Agreement, each Selling Shareholder, severally and not jointly, represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) Such Selling Shareholder has full right, power and authority to execute and deliver the Share Repurchase Agreement and the Share Repurchase Agreement has been duly authorized, executed and delivered by such Selling Shareholder and remains in full force and effect in all material respects and constitutes a valid and binding agreement of such Selling Shareholder enforceable in accordance with its terms, except to the extent that enforcement thereof may be limited by bankruptcy, insolvency, reorganization or other laws affecting enforcement of creditors’ rights or by general equitable principles.
(c) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power share transfer agreements, each to be dated the Closing Date, pursuant to which the Shares to be sold by such Selling Shareholder will be transferred by such Selling Shareholder to the Underwriters in accordance with this Agreement (the “Share Transfer Agreements”), the Share Repurchase Agreement and (other than in the case of Attorney and Sensata Investment Company S.C.A.) the Custody Agreement and Agreement to Sell signed by such Selling Shareholder and Sensata Technologies, Inc., as Custodian, relating to the Shares to be sold by such Selling Shareholder (the “Custody Agreement”), and (other than in the case of Sensata Investment Company S.C.A.) the Power of Attorney appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder Registration Statement (the “Power of Attorney and Custody AgreementAttorney”) will not contravene (i) any provision of applicable law, (ii) or the articles of organization, articles of association, certificate of incorporation or incorporation, bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational constituent documents of such Selling Shareholder (if such Selling Shareholder is another type of a corporation, Luxembourg société en commandite par actions or other business entity), (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Share Transfer Agreements, the Share Repurchase Agreement, the Custody Agreement or Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(cd) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement Attorney, as applicable, and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(de) The Custody Agreement and the Power of Attorney and Custody Agreement has Attorney, to the extent such Selling Shareholder is a party thereto, have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its termsShareholder, except (i) as to the extent that enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium reorganization or similar other laws affecting enforcement of creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of or by general equitable relief may be subject to equitable defenses and to the discretion principles. The Share Transfer Agreements as of the court before which any proceeding may Closing Date will have been duly authorized, executed and delivered by such Selling Shareholder and will be broughtvalid and binding agreements of such Selling Shareholder.
(ef) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts account(s) of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts account(s) of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(fg) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Registration Statement and the Prospectus comply and, as amended or supplemented, if applicable, will comply in all material respects with the Securities Act and the applicable rules and regulations of the Commission thereunder, (iii) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, misleading and (iiiiv) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, ; except that the representations and warranties set forth in this paragraph 2(g2(h) are limited made only as to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by or on behalf of such Selling Shareholder expressly specifically for use in the preparation of the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements theretosuch other documents.
Appears in 1 contract
Samples: Underwriting Agreement (Sensata Technologies Holding N.V.)
Representations and Warranties of the Selling Shareholders. Each of the Selling Shareholder severally Shareholders represents and warrants to to, and agrees with each with, the Underwriters as of the Underwriters thatdate hereof, and as of the Option Closing Date, if any, with respect to such Selling Shareholders respective Option Shares as follows:
(a) This Such Selling Shareholder has now and will have on each Option Closing Date, if any, good and valid title to the Option Shares free and clear of any lien, charge, claim, encumbrance, pledge, security interest, stockholders' agreement, voting trust, community property right, defect in title, equitable interest or other equities or restrictions of any kind whatsoever (including any liability for estate or inheritance taxes and claims of any creditor, devisee, legatee or beneficiary); other than as described in this Agreement or disclosed in the Registration Statement or Prospectus, there are no outstanding options, warrants, rights or other agreements or arrangements with respect to any of the Option Shares; the Selling Shareholder has been duly authorizedand will have on each Option Closing Date, executed if any, full right, power and delivered authority to sell, transfer and deliver the Option Shares hereunder; and upon delivery of the Option Shares against payment of the purchase price therefor as contemplated in this Agreement, each of the Underwriters, who has purchased in good faith and without notice of any adverse claim, will receive good and marketable title to the Option Shares purchased by it, free and clear of any lien, charge, claim, encumbrance, pledge, security interest, stockholders' agreement, voting trust, community property right, defect in title, equitable interests or on behalf other equities or restrictions of such Selling Shareholderany kind whatsoever (including any liability for estate or inheritance taxes and claims of any creditor, devisee, legatee or beneficiary).
(b) The Such Selling Shareholder has duly authorized (if applicable), executed and delivered, in the forms theretofore furnished to the Representative, a Lock-up Agreement (the "Seller Lock-Up Agreement"), a Stock Power (the "Stock Power"), a Power of Attorney (the "Power of Attorney") and a Letter of Transmittal and Custody Agreement (the "Custody Agreement"); each of the Custody Agreement, the Stock Power, the Power of Attorney and the Seller Lock-Up Agreement constitutes a legal, valid and binding agreement of the Selling Shareholder, enforceable in accordance with its terms, except as the enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting creditors' rights generally or by general equitable principles.
(c) All authorizations, approvals, consents and orders necessary for the execution and delivery by such Selling Shareholder ofof this Agreement, the Custody Agreement, the Stock Power, the Power of Attorney and the performance by Seller Lock-Up Agreement and the sale and delivery of the Option Shares hereunder (other than such authorizations, approvals, orders or consents as may be necessary under state securities laws) have been obtained and are in full force and effect; and such Selling Shareholder of has full right, power and authority to enter into and perform its obligations underunder this Agreement, this Agreement the Custody Agreement, the Stock Power and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneysthe Seller Lock-in-fact to the extent set forth therein and relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Up Agreement”) will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power Such Selling Shareholder has not distributed and will not distribute any prospectus or other offering material in connection with the distribution of Attorney and Custody the Securities.
(e) This Agreement has been duly authorizedauthorized (if applicable), executed and delivered by such Selling Shareholder and is a legal, valid and binding agreement of such Selling Shareholder Shareholder, enforceable against such Selling Shareholder in accordance with its terms, except (i) insofar as indemnity and contribution provisions may be limited by applicable laws (including, without limitation, federal laws) or equitable principles and except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting creditors’ ' rights generallygenerally or by general equitable principles. The execution, delivery and (ii) that performance of this Agreement, the remedy Custody Agreement, the Stock Power, the Power of specific performance Attorney and injunctive the Seller Lock-Up Agreement and other forms of equitable relief may be subject to equitable defenses and to the discretion consummation of the court before which any proceeding may be brought.
(e) Upon payment for the Shares to be sold transactions contemplated hereby and thereby by such Selling Shareholder pursuant has not conflicted and will not conflict with and has not resulted and will not result in a breach of or default under (i) any will, license, contract, indenture, mortgage, lease, deed of trust, voting trust agreement, bond, debenture, stockholders' agreement, note, loan or credit agreement or other agreement or instrument to this Agreementwhich such Selling Shareholder is a party or by which such Selling Shareholder is or may be bound or to which any of its properties (including the Option Shares) is or may be subject, delivery or any indebtedness, or (ii) any statute, judgment, decree, order, rule or regulation applicable to such Selling Shareholder of any arbitrator, court, regulatory body or administrative agency or other governmental agency or body, domestic or foreign, having jurisdiction over such Selling Shareholder or any of such Shares, as directed by Selling Shareholder's activities or properties (including the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Option Shares), (A) DTC shall be a “protected purchaser” of such Shares within except for conflicts, breaches and defaults which will not adversely affect the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, consummation by such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCCtransactions contemplated hereby.
(f) Such Selling Shareholder The sale of the Option Shares hereunder is not prompted by any material information concerning the Company or its subsidiaries which is material and adverse to the Company taken as a whole and which is not set forth in the Time Prospectus; the information relating to such Selling
(g) Nothing material has come to the attention of Sale Prospectus such Selling Shareholder to sell cause such Selling Shareholder to believe that the Company's representations and warranties contained in this Agreement are not accurate in any material respect.
(h) There is not pending or, to the knowledge of such Selling Shareholder, threatened against such Selling Shareholder or involving its Shares pursuant properties or activities any material action, inquiry, investigation, suit or proceeding (and, to the knowledge of such Selling Shareholder, there are no circumstances that would be expected to give rise to the same) which (i) questions the validity of this Agreement, the Custody Agreement, the Stock Power, the Power of Attorney, the Seller Lock-Up Agreement or any action taken or to be taken by such Selling Shareholder in connection herewith or therewith, (ii) has or reasonably would be expected to materially adversely affect the Company which is not disclosed in the Prospectus or (iii) reasonably would be expected to adversely affect the consummation by such Selling Shareholder of the transactions contemplated hereby or thereby.
(i) The Except as and to the extent disclosed in the Registration StatementStatement or the Prospectus, when such Selling Shareholder does not have any registration rights, rights of first refusal, co-sale rights, preemptive rights or other similar rights with respect to any securities of the Company; such Selling Shareholder has waived all of those rights which it became effectivemay have with respect to the Option Shares and the transactions contemplated hereby; and such Selling Shareholder does not have any warrants, did options or similar rights to acquire, and does not contain andhave any right or arrangement to acquire, as amended any capital stock, rights, warrants, options or supplementedother securities from the Company, if applicableother than those disclosed in the Registration Statement or the Prospectus.
(j) Such Selling Shareholder has not since the initial filing of the Registration Statement with the Commission (i) sold, will not contain bid for, purchased, attempted to induce any untrue statement person to purchase or paid anyone any compensation for soliciting purchases of a material fact any securities of the Company or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does notpaid or agreed to pay to any person any compensation for soliciting
(k) Such Selling Shareholder has not taken and will not take, anddirectly or indirectly, at the time of each sale any action which is designed to or which has constituted or which might reasonably be expected to cause or result in stabilization or manipulation of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time price of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light security of the circumstances under which they were made, not misleading, and (iii) Company to facilitate the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light distribution of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(gSecurities.
(l) are limited to statements Any certificate signed by or omissions made in reliance upon and in conformity with information relating to on behalf of such Selling Shareholder furnished and delivered to the Company in writing Underwriters or Underwriters' Counsel shall be deemed a representation and warranty by such Selling Shareholder expressly for use in to the Registration Statement, Underwriters or Underwriters' Counsel as to the Time of Sale Prospectus, the Prospectus or any amendments or supplements theretomatters covered thereby.
Appears in 1 contract
Samples: Underwriting Agreement (Skymall Inc)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder Shareholder, severally and not jointly, represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder and Computershare Trust Company, N.A., as Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Custody Agreement”) and the Power of Attorney appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder Registration Statement (the “Power of Attorney and Custody AgreementAttorney”) will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation or bylaws by-laws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entitya corporation), (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Custody Agreement or Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date and any Option Closing Date, as applicable, will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the any Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the any Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(e) Upon payment for the any Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder has no actual knowledge that the representations and warranties of the Company contained in Section 2 are not true and correct in any material respect, is familiar with the Registration Statement, the Time of Sale Prospectus and the Prospectus and has no actual knowledge of any material fact, condition or information not disclosed in the Time of Sale Prospectus or the Prospectus that has had, or may have, a material adverse effect on the Company. Such Selling Shareholder is not prompted by such Selling Shareholder’s actual knowledge of any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Registration Statement and the Prospectus comply and, as amended or supplemented, if applicable, will comply in all material respects with the Securities Act and the applicable rules and regulations of the Commission thereunder, (iii) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 56), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, (iv) each broadly available road show and “issuer free writing prospectus” (as defined in Rule 433 under the Securities Act), if any, when considered together with the Time of Sale Prospectus, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading and (iiiv) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except ; provided that the representations and warranties set forth in this paragraph 2(g2(f) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder Shareholder, severally and not jointly, represents and warrants to and agrees with each of the Underwriters and the Company that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals and American Stock Transfer & Trust Company, LLC, as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Custody Agreement”) and the Power of Attorney appointing certain individuals as such Selling Shareholder’s attorneys‑in‑fact to the extent set forth therein, relating to the transactions contemplated hereby and Custody Agreementby the Registration Statement (the “Power of Attorney”) will not contravene (i) any provision of applicable law, or (ii) the certificate of incorporation or bylaws by‑laws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entitya corporation), or (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases case of clause clauses (i), (iii) and (iv) as would not, individually or in the aggregate, impair have a material adverse effect on the ability of such the Selling Shareholder to consummate the transactions contemplated by this Agreement, the Custody Agreement or and the Power of Attorney Attorney, and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Custody Agreement or Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consentsas have been obtained and made under the Securities Act, approvals, authorizations, orders such as may be required by the Exchange Act or qualifications as the rules and regulations thereunder or may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 8‑501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its termsShareholder, except (i) as limited by subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or and similar laws of general applicability relating to or affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtgeneral equity principles.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 8‑105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 8‑303 of the UCC, (B) under Section 8-501 8‑501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 8‑102 of the UCC, to such Shares may be successfully asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 8‑102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(g) (i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not not, as of the date of such amendment or supplement, contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5.), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, (iii) each broadly available road show, if any, when considered together with the Time of Sale Prospectus, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading and (iiiiv) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) do not apply to statements or omissions in the Registration Statement or the Prospectus based upon information relating to any Underwriter furnished to the Company in writing by such Underwriter through you expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto and (z) are limited in all respects to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments Prospectus or supplements any amendment or supplement thereto, it being understood and agreed that the only information furnished by such Selling Shareholder consists of the name of such Selling Shareholder, the number of offered shares and the address and other information with respect to such Selling Shareholder (excluding percentages) which appear in the Registration Statement or any Prospectus in the table (and corresponding footnotes) under the caption “Principal and Selling Shareholders” (with respect to each Selling Shareholder, the “Selling Shareholder Information”).
(i) None of such Selling Shareholder or any of its subsidiaries, or, to the knowledge of such Selling Shareholder, any director, officer, employee, agent, representative, or affiliate thereof, is a Person that is, or is owned or controlled by one or more Persons that are:
(A) the subject of any Sanctions, or
(B) located, organized or resident in a country or territory that is the subject of Sanctions (including, without limitation, Crimea, Cuba, Iran, North Korea and Syria).
(ii) Such Selling Shareholder will not, directly or indirectly, use the proceeds of the offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person:
(A) to fund or facilitate any activities or business of or with any Person or in any country or territory that, at the time of such funding or facilitation, is the subject of Sanctions; or
(B) in any other manner that will result in a violation of Sanctions by any Person (including any Person participating in the offering, whether as underwriter, advisor, investor or otherwise).
(iii) For the past five years, such Selling Shareholder has not engaged in and is not now engaged in, any dealings or transactions with any Person, or in any country or territory, that at the time of the dealing or transaction is or was the subject of Sanctions.
(iv) (a) None of such Selling Shareholder or its subsidiaries, or, to the knowledge of such Selling Shareholder, any director, officer, employee, agent, representative, or affiliate thereof has taken any action in furtherance of an offer, payment, promise to pay, or authorization or approval of the payment giving or receipt of money, property, gifts or anything else of value, directly or indirectly, to any Government Official in order to influence official action, or to any person in violation of any applicable anti-corruption laws; (b) such Selling Shareholder and its subsidiaries have conducted their businesses in compliance with applicable anti-corruption laws and have instituted and maintained policies and procedures reasonably designed to promote and achieve compliance with such laws and with the representations and warranties contained herein; and (c) neither the Selling Shareholder nor any of its subsidiaries will use, directly or indirectly, the proceeds of the offering in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any person in violation of any applicable anti-corruption laws.
(v) In the case of a Selling Shareholder that is an entity, the operations of such Selling Shareholder and its subsidiaries are and have been conducted at all times in material compliance with all applicable Anti-Money Laundering Laws, and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving such Selling Shareholder or any of its subsidiaries with respect to the Anti-Money Laundering Laws is pending or, to the best knowledge of the Selling Shareholder, threatened.
(i) Such Selling Shareholder represents and warrants that it is not (i) an employee benefit plan subject to Title I of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), (ii) a plan or account subject to Section 4975 of the Internal Revenue Code of 1986, as amended or (iii) an entity deemed to hold “plan assets” of any such plan or account under Section 3(42) of ERISA, 29 C.F.R. 2510.3-101, or otherwise.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally represents and warrants to to, and agrees with each with, the Underwriter as of the Underwriters date hereof and as of the Closing Date that:
(a) Such Selling Shareholder has full right, power and authority to execute and deliver this Agreement, to perform its obligations hereunder and to consummate the transactions to be entered into by such Selling Shareholder or under this Agreement, the Registration Statement, the Pricing Prospectus and the Prospectus. This Agreement and the transactions to be entered into by such Selling Shareholder or under this Agreement, the Registration Statement, the Pricing Disclosure Package and the Prospectus have been duly and validly authorized by such Selling Shareholder. This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement has been duly authorized, validly executed and delivered by such Selling Shareholder and is a constitutes the legal, valid and binding agreement obligation of such Selling Shareholder Shareholder, enforceable against such Selling Shareholder in accordance with its terms, except (i) as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, generally and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief except as enforceability may be subject to equitable defenses and to the discretion general principles of the court before which any equity (regardless of whether such enforceability is considered in a proceeding may be broughtin equity or at law).
(eb) Upon payment Such Selling Shareholder agrees that the Shares to be sold by such Selling Shareholder are subject to the interests of the Underwriter, and that the obligations of such Selling Shareholder hereunder shall not be terminated, except as provided in this Agreement by any act of such Selling Shareholder, by operation of law or by the occurrence of any other event. If such Selling Shareholder should die or become incapacitated, or if any other event should occur affecting the legal status or capacity of such Selling Shareholder before the delivery of the Shares, to be sold by a Selling Shareholder hereunder, the documents evidencing the Shares, to be sold by such Selling Shareholder shall be delivered by an agent or representative of the Selling Shareholder in accordance with the terms and conditions of this Agreement as if such event had not occurred, regardless of whether or not such agent or representative shall have received notice thereof.
(c) Certificates for all of the Shares to be sold by such Selling Shareholder pursuant to this Agreement, in suitable form for transfer by delivery or accompanied by duly executed instruments of such Shares, as directed transfer or assignment with signatures guaranteed shall be delivered to the Underwriter pursuant to this Agreement. Such Selling Shareholder is the record and beneficial owner of the Shares to be sold by the UnderwritersSelling Shareholder hereunder, to Cede & Co. (“Cede”) free and clear of all liens, encumbrances, equities or claims and has duly indorsed such other nominee as may be designated by securities in blank, and assuming that the Depository Trust Company (“DTC”), registration of such Shares Underwriter acquires its interest in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter it has purchased without notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code of the State of New York (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of the Underwriter that has purchased such Shares delivered to the Depository Trust Company (“DTC”) by making payment therefor, as provided herein, and that has had such Shares credited to its securities account or accounts maintained with DTC will have acquired a security entitlement (within the meaning of Section 8-303 102(a)(17) of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of to such Shares purchased by the Underwriter, and (C) no action based on any “an adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters Underwriter with respect to such security entitlement; Shares.
(d) No Consent of, from or with any judicial, regulatory or other legal or governmental agency or body or any third party, foreign or domestic, is required for purposes the execution, delivery and performance by the Selling Shareholder of its obligations under this Agreement or consummation by the Selling Shareholders of the transactions contemplated herein, except such as have been obtained under the Securities Act and such as may be required under the state or foreign securities laws, or the blue sky laws of any jurisdiction.
(e) The execution, delivery and performance of this representation, Agreement by such Selling Shareholder may assume and performance of its obligations under any of the other transactions contemplated herein by the Selling Shareholder or the fulfillment of the terms hereof by the Selling Shareholder will not (A) conflict with, result in a breach or violation of, or constitute a default (or an event that when such paymentwith notice or lapse of time, delivery and crediting occuror both, (xwould constitute a default) such Shares will have been registered under, or result in the name creation or imposition of Cede any lien, charge or another nominee designated by DTCencumbrance upon any property or assets of the Selling Shareholder pursuant to any law, statute, rule or regulation or the terms of any indenture or other agreement or instrument to which such Selling Shareholder is party or bound, or to which any of the property or assets of such Selling Shareholder is subject, or (B) if such Selling Shareholder is not a natural person, result in each any violation of the provisions of any charter or bylaws or certificate of formation, trust agreement, partnership agreement, articles of partnership or other organizational documents, as applicable, of the Selling Shareholder, or (C) result in any violation or breach of any judgment, order, decree statute, rule or regulation applicable to such Selling Shareholder of any court or any public, governmental or regulatory agency or body, administrative agency or arbitrator having jurisdiction over such Selling Shareholder, except in the case of clauses (A) and (C) above, for any such breach, violation or breach that would not have an adverse effect on the Company’s share registry in accordance with ability of such Selling Shareholder to perform its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCCobligations hereunder.
(f) Such Selling Shareholder is does not prompted have any registration or other similar rights to have any equity or debt securities registered for sale by the Company under the Registration Statement or included in the offering of the Shares, except for such rights as have been waived or which are described in the Registration Statement, the Pricing Prospectus and the Prospectus (and which have been complied with).
(g) Such Selling Shareholder does not have, or has waived prior to the date hereof, any preemptive right, co-sale right or right of first refusal or other similar right to purchase any of the Shares that are to be sold by any material information concerning other Selling Shareholder to the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares Underwriter pursuant to this Agreement.
(ih) The Except as disclosed in the Registration Statement, when it became effectivethe Pricing Prospectus and the Prospectus, did not contain andthere are no contracts, as amended agreements or supplementedunderstandings between such Selling Shareholder and any person that would give rise to a valid claim against the Company or the Underwriter for a brokerage commission, if applicable, will not contain finder’s fee or other like payment in connection with this offering.
(i) Such Selling Shareholder has no knowledge of any untrue statement misstatement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit failure to state a material fact necessary to make the statements thereinin the Pricing Disclosure Package and the Prospectus, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain andprovided, as amended or supplementedhowever, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the that such statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are shall be limited to statements or omissions made in reliance upon and in conformity with information relating those included under the heading “Selling Shareholders” which relates to such Selling Shareholder.
(j) Such Selling Shareholder furnished has not taken and will not take, directly or indirectly, any action designed to, or that could be reasonably expected to, cause or result in stabilization or manipulation of the price of the Common Stock to facilitate the sale or resale of the Shares.
(k) Such Selling Shareholder has not distributed and will not distribute, prior to the Company completion of the Underwriter’s distribution of the Shares, any “written communication” (as defined in writing Rule 405 under the Securities Act) that constitutes an offer to sell or solicitation of an offer to buy the Shares other than (i) any document not constituting a prospectus pursuant to Section 2(a)(10)(a) of the Securities Act or Rule 134 under the Securities Act, or (ii) the Pricing Prospectus or the Prospectus. Any certificate signed by or on behalf of a Selling Shareholder and delivered to the Underwriter or to counsel for the Underwriter shall be deemed to be a representation and warranty by such Selling Shareholder expressly for use in to the Registration Statement, Underwriter as to the Time of Sale Prospectus, the Prospectus or any amendments or supplements theretomatters covered thereby.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder Shareholder, severally and not jointly, represents and warrants to and agrees with each of the Underwriters as to itself only that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder and American Stock Transfer & Trust Company LLC, as Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Custody Agreement”) and the Power of Attorney appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder Registration Statement (the “Power of Attorney and Custody AgreementAttorney”) ), will not contravene (i) any provision of applicable law, or (ii) if such Selling Shareholder is not a natural person, the certificate of incorporation or bylaws by-laws (or similar organizational document) of such Selling Shareholder (if such Selling Shareholder is an entity) Shareholder, or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, Shareholder except in the cases case of clause clauses (i), (iii) as and (iv), for any such contraventions that would not, individually or in the aggregate, impair reasonably be expected to have a material adverse effect on the ability of such Selling Shareholder to consummate perform its obligations under this Agreement, the transactions contemplated by this Custody Agreement or and the Power of Attorney Attorney, and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency having jurisdiction over such Selling Shareholder is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Custody Agreement, or Power of Attorney and Custody Agreement of such Selling Shareholder, except for (i) such registrations, consents, approvals, authorizations, orders orders, or qualifications as have been, or prior to the Closing Date will be, obtained or made, (ii) the registration of the offer and sale of the Shares under the Securities Act and such registrations, consents, approvals, authorizations, orders, or qualifications as may be required by under the Exchange Act, the securities or blue sky Blue Sky laws and regulations of the various states or the rules of FINRA in connection with the offer and sale of the Shares, (iii) such registrations, consents, approvals, authorizations, orders, or qualifications that, if not obtained, would not reasonably be expected to have a material adverse effect on the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement and (iv) as described in the Registration Statement and the Time of Sale Prospectus.
(c) If such Selling Shareholder is not a natural person, such Selling Shareholder has been duly organized and is validly existing and in good standing under the laws of the jurisdiction of its organization.
(d) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances (other than those created by this Agreement, the Custody Agreement, the Power of Attorney) and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and power to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(de) The This Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement has Attorney, in each case to the extent such Shareholder is a party thereto, have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except their respective terms subject in each case to (i) as limited by the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or and other similar laws relating to or affecting creditors’ rights generally, and (ii) that the remedy general equitable principles (whether considered in a proceeding in equity or at law) and (iii) an implied covenant of specific performance good faith and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtfair dealing.
(ef) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be successfully asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(fg) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(h) Such Selling Shareholder, if such Selling Shareholder is the Chief Executive Officer or the Chief Financial Officer of the Company, has no reason to believe that the representations and warranties of the Company contained in Section 1 are not true and correct, is familiar with the Registration Statement, the Time of Sale Prospectus and the Prospectus and has no knowledge of any material fact, condition or information not disclosed in the Time of Sale Prospectus or the Prospectus that has had, or may have, a material adverse effect on the Company and its subsidiaries, taken as a whole.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain contain, as of the date of such amendment or supplement, any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, misleading and (iii) the Prospectus does not contain andProspectus, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except ; provided that the representations and warranties set forth in this paragraph 2(g2(i) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto, it being understood and agreed that the only information furnished by such Selling Shareholder consists of the name of such Selling Shareholder, the number of offered shares, the address, beneficial ownership information with respect to such Selling Shareholder (excluding percentages) and such other information (excluding percentages) with respect to such Selling Shareholder which appear in the Time of Sale Prospectus in the table (and corresponding footnotes) under the caption “Principal and Selling Stockholders” (with respect to each Selling Shareholder, the “Selling Shareholder Information”).
(j) The Shares to be sold by such Selling Shareholder under this Agreement are not subject to any option, warrant, put, call, right of first refusal or other right to purchase or otherwise acquire any such Shares other than pursuant to this Agreement.
(k) Such Selling Shareholder has not taken and will not take, directly or indirectly, any action designed to or that constitutes or would reasonably be expected to cause or result in the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Shares.
(l) There is no broker, finder or other party that is entitled to receive from such Selling Shareholder any brokerage or finder’s fee or other fee or commission as a result of any of the transactions contemplated by this Agreement
(m) Such Selling Shareholder will not directly or indirectly use the proceeds from the sale of Shares by such Selling Shareholder pursuant to this Agreement, or lend, contribute or otherwise make available any such proceeds to any subsidiary (if any), joint venture partner or other person or entity, for the purpose of financing the activities of any person currently subject to any Sanctions.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. 5.1 Each Selling Shareholder Shareholder, acting severally but not jointly and only in respect of the Eleusian Shares held by such Selling Shareholder, represents and warrants to GreenStar, and agrees acknowledges that GreenStar is relying upon such covenants, representations and warranties in connection with each the Transaction, that, as at the date of this Agreement and as at the Underwriters thatClosing:
(a) This Agreement The GreenStar Shares to be issued to such Selling Shareholder pursuant to the Transaction are being issued to such Selling Shareholder as principal for their own account and not for the benefit of any other Person.
(b) Other than as disclosed to GreenStar, the Eleusian Shares owned by such Selling Shareholder are owned by such Selling Shareholder as the sole beneficial and recorded owner with good and marketable title thereto, free and clear of all Liens, claims, pledges, encumbrances and demands whatsoever.
(c) Other than under this Agreement, no Person has any agreement or option (including any stock option, warrant, or other convertible security), or any right or privilege (whether by law, pre-emptive or contractual) capable of becoming an agreement or option, for the purchase or other acquisition from such Selling Shareholder of any of their Eleusian Shares.
(d) It has been advised to consult with its own legal, tax and other advisors with respect to the merits of the acquisition of the GreenStar Shares and applicable resale restrictions, and such Selling Shareholder is solely responsible for compliance with applicable resale restrictions with respect to the GreenStar Shares.
(e) It is the registered and beneficial owner of the number of Eleusian Shares listed next to its name in Schedule A to this Agreement, free and clear of any Lien, and such Selling Shareholder has no interest, legal or beneficial, direct or indirect, in any other securities of Eleusian, or the Eleusian Business or any assets of Eleusian.
(f) It has the legal capacity and competence to enter into this Agreement and to take all actions required pursuant hereto and, if it is a corporate entity, it is duly authorizedincorporated and validly subsisting under the laws of its jurisdiction of incorporation and all necessary approvals by its directors, executed shareholders and delivered by or others have been obtained to authorize execution and performance of the Agreement on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and to transfer the performance by such Selling Shareholder beneficial title and ownership of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and relating to the deposit of the Eleusian Shares to be sold GreenStar.
(g) It waives all rights held by it under any prior contract or arrangement pertaining to its Eleusian Shares, if any, and it will remise, release and forever discharge GreenStar and its directors, officers, employees, successors, solicitors, agents and assigns from any and all obligations to such Selling Shareholder under any such prior contracts or arrangements.
(h) All of the “Power of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation or bylaws of information which such Selling Shareholder (has provided in this Agreement is correct and complete, and if there should be any change in such Selling Shareholder is an entity) or other organizational documents information prior to the Closing, it will immediately notify GreenStar, in writing, of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree the details of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be brought.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreementchange.
(i) The Registration Statemententering into of this Agreement and the transactions contemplated thereunder do not result in the violation of any of the terms and provisions of any Applicable Laws, when it became effective, did not contain and, as amended or supplementedor, if applicable, the constating documents of, such Selling Shareholder, or of any contract or other arrangement, written or oral, to which such Selling Shareholder may be a party or by which it is or may be bound.
(j) GreenStar will not contain refuse to register the transfer of any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, at the time of each sale of the GreenStar Shares to a U.S. Person not made pursuant to an effective registration statement under the 1933 Act or pursuant to an available exemption from the registration requirements of the 1933 Act, and in each case in accordance with Applicable Laws.
(k) It: (i) is able to fend for itself in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light its acquisition of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto.GreenStar Shares;
Appears in 1 contract
Samples: Share Exchange Agreement
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally and not jointly represents and warrants to and agrees with each of the Underwriters and the Company that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The None of the execution and delivery by or on behalf of such Selling Shareholder of, and or the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder and The Bank of New York, as Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Custody Agreement”) and the Power of Attorney appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder Registration Statement (the “Power of Attorney and Custody AgreementAttorney”) ), nor the consummation of the transactions contemplated hereby or thereby, will not contravene (i) any provision of applicable lawcontravene or result in a breach or violation of, or constitute a default under, (iiA) the certificate memorandum of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) association, bye-laws or other organizational governing documents of such Selling Shareholder (if such Selling Shareholder is another type of entitynot a natural person), (iiiB) any agreement provision of applicable law or other instrument binding upon such Selling Shareholder or (iv) any regulation, rule, judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder or any of its properties or (C) any agreement, indenture or other instrument binding upon such Selling Shareholder or to which such Selling Shareholder is a party or to which any of its properties are subject, or (ii) result in the creation or imposition of any lien, charge, claim or encumbrance upon any property of such Selling Shareholder, except in the cases of (other than with respect to clause (iiii)(A)) as would not, individually or in the aggregate, impair have a material adverse effect on the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney hereby and Custody Agreementthereby. No consentExcept for permits, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be approvals and similar authorizations required by the securities or blue sky “Blue Sky” or insurance securities laws and regulations of the various states certain jurisdictions in connection with the offer and sale of the Shares, the filing of the Prospectus under the Bermuda Companies Act 1981 in connection with the offer and sale of the Shares and permits, consents, approvals and authorizations which have been obtained, no permit, consent, approval, authorization or order of any court, governmental agency or body or financial institution is required in connection with the consummation by such Selling Shareholder of the transactions contemplated by this Agreement.
(c) Such Selling Shareholder hasis, and on the Closing Date will havebe, valid title tothe registered holder of a certificated security representing, or and/or has and will have a valid “security entitlement” within the meaning of Section 8-501 102(a)(7) of the New York Uniform Commercial Code (the “NYUCC”) in respect of, the Shares to be sold by such Selling Shareholder Shareholder, free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and powerencumbrances, and all authorization and approval required by law, to enter such Selling Shareholder’s entry into this Agreement, the Custody Agreement and the Power of Attorney and such Selling Shareholder’s sale, transfer and delivery of the Shares to be sold by such Selling Shareholder have been duly authorized by all necessary organizational action, if any, and have received all necessary regulatory approvals and authorizations, if any, and such Selling Shareholder has the legal right and power to enter into this Agreement, the Custody Agreement and the Power of Attorney and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares. The Shares to be sold by such Selling Shareholder are not subject to any preemptive or similar rights, and the Selling Shareholder has all rights in and full power and authority to transfer such Shares.
(d) The Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its termsShareholder, except (i) as rights to indemnification thereunder may be limited by applicable law and except as the enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or affecting creditors’ rights generally, and (ii) that the remedy remedies of specific performance and injunctive and other forms of creditors or by general equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtprinciples.
(e) Upon payment for the delivery in New York of any certificate or certificates representing a Selling Shareholder’s Shares to be sold by such Selling Shareholder pursuant to this AgreementShareholder, delivery of such Shares, as directed properly indorsed in blank by the Underwritersan effective indorsement, to either (i) Cede & Co. (“Cede”) or such other nominee as may be designated by the The Depository Trust Company (“DTC”)) or (ii) the Underwriter purchasing such Shares, registration of and upon payment for such Shares in the name of as contemplated by this Agreement, Cede (or such other nominee and nominee) or such Underwriter, as the crediting case may be, will acquire all of such Selling Shareholder’s rights in such Shares on that such Selling Shareholder has or has the books power to transfer, free of DTC to securities accounts any adverse claim within the meaning of Section 8-102(a)(1) of the Underwriters NYUCC, provided Cede (assuming that neither DTC nor any or such Underwriter other nominee) or such Underwriter, as the case may be, has no notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)NYUCC) to such Shares), . Assuming the proper execution of an entitlement order (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 102(a)(8) of the UCC, NYUCC) given by a Selling Shareholder to the securities intermediary (B) under within the meaning of Section 8-501 102(a)(14) of the UCC, NYUCC) maintaining the Underwriters will acquire a valid security entitlement in for such Selling Shareholder with respect to the Shares to be sold by such Selling Shareholder, and assuming that as a result of the execution of such order a security entitlement with respect to such Shares and is properly credited at a securities intermediary (Cwithin the meaning of Section 8-102(a)(14) of the NYUCC) to the account of the Underwriter purchasing such Shares, upon payment for such Shares as contemplated by this Agreement, then no action based on any “an adverse claim”, claim within the meaning of Section 8-102 of the UCC, to such Shares NYUCC may be asserted against the Underwriters such Underwriter with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume entitlement to the extent that when such payment, delivery and crediting occur, (xi) such Shares will have been registered in the name Underwriter had no notice of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” such adverse claim within the meaning of Section 8-102 105 of the UCC NYUCC and (zii) appropriate entries such Underwriter is the entitlement holder (within the meaning of Section 8-102(a)(8) of the NYUCC) with respect to the accounts of the several Underwriters on the records of DTC will have been made pursuant securities account to the UCC.
(f) Such Selling Shareholder which such security entitlement is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreementcredited.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, misleading and (ii) the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except ; provided that the representations and warranties set forth in this paragraph 2(g2(f) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each of the Selling Shareholder Shareholders severally and not jointly represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and either (i) the Irrevocable Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s 's attorneys-in-fact to the extent set forth therein therein, relating to the transactions contemplated hereby and by the Registration Statement, and Staples, Inc., as Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “"POWER OF ATTORNEY AND CUSTODY AGREEMENT") or (ii) the Irrevocable Power of Attorney and Custody Agreement”) signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder's attorneys-in-fact to the extent set forth therein ( the "POWER OF ATTORNEY"), will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation or bylaws by-laws of such Selling Shareholder (if such Selling Shareholder is an entity) a corporation), or other organizational documents of the instrument creating and governing such Selling Shareholder (if such Selling Shareholder is another type of entitya trust), (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement or Power of such Selling ShareholderAttorney, as applicable, except for such consents, approvals, authorizations, orders or qualifications as may be required by the Securities Act or the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Except for the shares of Common Stock to be issued upon the exercise of Options, which exercise is expected to occur immediately prior to the purchase of the Firm Shares by the Underwriters, such Selling Shareholder has, and on the Closing Date will have, has valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, to the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement or Power of Attorney, as applicable, and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder; and, on the Closing Date, after giving effect to the exercise of the Options, such Selling Shareholder or a security entitlement in respect will have valid title to all of the Shares to be sold by such SharesSelling Shareholder and the legal right and power, and all authorization and approval required by law, to sell, transfer and deliver all of the Shares to be sold by such Selling Shareholder.
(d) The Power of Attorney and Custody Agreement or Power of Attorney, as applicable, has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(e) Upon payment for transfer (as defined below) of the Shares to be sold by such Selling Shareholder pursuant to this AgreementThe Depository Trust Company, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the The Depository Trust Company will acquire the Shares free of all adverse claims (“DTC”within the meaning of Sections 8- 102(a)(1) and 8-303 of the Uniform Commercial Code as in effect in New York, Illinois or Massachusetts, as applicable (the "UCC"), registration ). "Transfer" of such the Shares in to The Depository Trust Company will occur upon the name making by the Company's transfer agent of Cede or such other nominee and appropriate entries transferring the crediting of such Shares on the its books of DTC and records to securities accounts The Depository Trust Company. Each of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim shall acquire a "securities entitlement" (within the meaning of Section 8-105 102(a)(17) of the New York Uniform Commercial Code (UCC) in the “UCC”)) Shares to be purchased by it, free of all adverse claims created by, through or with respect to the Selling Shareholder, upon the making by The Depository Trust Company of a book entry that shares of the Company's stock in the amounts set forth opposite each Underwriter's name on Schedule II or III hereto have been credited to such Shares), Underwriter's security account (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 501(a) of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the The Depository Trust Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto.
Appears in 1 contract
Samples: Underwriting Agreement (Staples Inc)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally Shareholder, on a several and not a joint and several basis, and only as to itself represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals and American Stock Transfer & Trust Company, LLC, as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entitynot an individual), (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling ShareholderShareholder except, except in the cases of clause (iii) as each case, where any such contravention would not, individually or in the aggregate, impair not reasonably be expected to have a material adverse effect on the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney perform its obligations hereunder, and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling ShareholderAgreement, except for such consents, approvals, authorizations, orders or qualifications as may be required by the U.S. federal or state or foreign securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares, except where the failure to obtain such consent, approval, authorization or order of, or qualification with, any governmental body or agency would not reasonably be expected to have a material adverse effect on the ability of such Selling Shareholder to perform its obligations hereunder.
(c) Such Selling Shareholder has, and will have on the Closing Date will have, (as defined in Section 5) valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code (the “UCC”) in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, for such Selling Shareholder to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery (within the meaning of Section 8-301 of the UCC) of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (xw) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on in the Company’s share registry register of members in accordance with its certificate memorandum and articles of incorporation, bylaws association and applicable law, (yx) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and UCC, (zy) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC and (z) the jurisdiction of DTC and its nominee for purposes of Section 8-110 of the UCC, and the jurisdiction applicable to the matters specified in subsections (a)(2) through (5) of Section 8-110 of the UCC, is the State of New York.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(ig) (A) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (iiB) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iiiC) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to the Shareholder Information provided by such Selling Shareholder furnished to Shareholder.
(h) Except for any net income, capital gains or franchise taxes imposed on the Company Underwriters by such Selling Shareholder’s jurisdiction of incorporation or any political subdivision or taxing authority thereof or therein as a result of any present or former connection (other than any connection resulting from the transactions contemplated by this Agreement) between the Underwriters and the jurisdiction imposing such tax, no stamp duties or other issuance or transfer taxes and no capital gains, income, withholding or other taxes are payable by or on behalf of the Underwriters in writing such jurisdiction or any political subdivision or taxing authority thereof solely in connection with (A) the execution, delivery and performance of this Agreement, (B) the delivery of the Shares by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, manner contemplated by this Agreement and the Prospectus or (C) the sale and delivery by the Underwriters of the Shares as contemplated herein and in the Prospectus, provided, however, that (1) in the case of the United Kingdom (the “UK”), UK stamp duty may be payable if (a) the original of any amendments relevant document or supplements theretoagreement is required to be produced in evidence in any UK civil proceedings or is required for other official purposes in the UK and (b) such document or agreement was executed in the UK or relates to any matter or thing done or to be done in any part of the UK; and (2) in case of an action before a court in Luxembourg or an autorité constituée, any documents referred to in the summons may have to be registered in which case, as well as in case of a voluntary registration, a fixed or an ad valorem tax, depending on the nature of the document and the underlying agreement reflected therein may become due and payable.
(i) Such Selling Shareholder has the power to submit, and pursuant to Section 17 of this Agreement, has legally, validly, effectively and irrevocably submitted, to the personal jurisdiction of each New York state and United States federal court sitting in the Borough of Manhattan in the City of New York and has validly and irrevocably waived any objection to the laying of venue of any suit, action or proceeding brought in such court.
(j) Such Selling Shareholder has not taken, directly or indirectly, any action designed to or that would reasonably be expected to cause or result in any stabilization or manipulation of the price of the Shares.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) or the agreement or certificate of incorporation or bylaws limited partnership of such Selling Shareholder (if such Selling Shareholder is an entity) Shareholder; or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling ShareholderAgreement, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states or the securities laws of non-U.S. jurisdictions in connection with the offer and sale of the Firm Shares.
(c) Such Selling Shareholder has, and on the Closing Date and the Option Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, to the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such SharesShareholder.
(d) The Power of Attorney and Custody Agreement has been duly authorized, executed and delivered Shares to be sold by such Selling Shareholder pursuant to this Agreement have been duly authorized and is a valid are validly issued, fully paid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtnon-assessable.
(e) Upon payment for Delivery of the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters Agreement will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, pass title to such Shares may be asserted against the Underwriters with respect to such free and clear of any security entitlement; for purposes of this representationinterests, such Selling Shareholder may assume that when such paymentclaims, delivery liens, equities and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCCother encumbrances.
(f) Such All information furnished by or on behalf of such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth for use in the Time of Sale Registration Statement and Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statementis, when it became effectiveand on the Closing Date and on the Option Closing Date will be, did not contain andtrue, as amended or supplementedcorrect, if applicableand complete, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus and does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at on the Closing Date (as defined in Section 5), and on the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, Option Closing Date will not, contain any untrue statement of a material fact or omit to state a any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, such information not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto.
Appears in 1 contract
Samples: Underwriting Agreement (Omniquip International Inc)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder Shareholder, severally and not jointly, represents and warrants to to, and agrees with with, each of the several Underwriters and the Company that:
(ai) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Such Selling Shareholder ofhas full right, power and the performance by such Selling Shareholder of its obligations underauthority to enter into this Agreement, this Agreement and the Power of Attorney and the Custody Agreement signed by such Selling Shareholder appointing certain individuals (as such Selling Shareholder’s attorneys-in-fact hereinafter defined) and to sell, assign, transfer and deliver to the extent set forth therein and relating to the deposit of Underwriters the Shares to be sold by such Selling Shareholder (hereunder; and the “Power execution and delivery of Attorney and Custody this Agreement”) will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and the Custody Agreement. No consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance Agreement have been duly authorized by all necessary action of such Selling Shareholder.
(ii) Such Selling Shareholder of its obligations under has duly executed and delivered this Agreement or Agreement, the Power of Attorney and the Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder hasAgreement, and on each constitutes the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) subject, as limited by to enforcement, to applicable bankruptcy, insolvency, reorganization, reorganization and moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms laws relating to or affecting the enforcement of creditors' rights generally and to general equitable relief principles and, with respect to this Agreement, except as the enforceability of rights to indemnity and contribution under this Agreement may be subject to equitable defenses and to limited under applicable securities laws or the discretion of the court before which any proceeding may be broughtpublic policy underlying such laws.
(eiii) Upon payment No consent, approval, authorization, order or declaration of or from, or registration, qualification or filing with, any court or governmental agency or body is required for the sale of the Shares to be sold by such Selling Shareholder pursuant to or the consummation of the transactions contemplated by this Agreement, delivery the Power of such SharesAttorney or the Custody Agreement, as directed by except the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares under the Act (which, if the Registration Statement is not effective as of the time of execution hereof, shall be obtained as provided in this Agreement) and such as may be required under state securities or blue sky laws or the name bylaws and rules and regulations of Cede or such other nominee the NASD in connection with the offer, sale and the crediting distribution of such Shares on by the books of DTC to securities accounts Underwriters.
(iv) The sale of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) Shares to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, sold by such Selling Shareholder may assume that when and the performance of this Agreement, the Power of Attorney and the Custody Agreement and the consummation of the transactions herein and therein contemplated will not conflict with, or (with or without the giving of notice or the passage of time or both) result in a breach or violation of any of the terms or provisions of, or constitute a default under, any indenture, mortgage, deed of trust, loan agreement, lease, or other material agreement or instrument to which such paymentSelling Shareholder is a party or to which any of his respective properties or assets is subject, delivery and crediting occurnor will such action conflict with or violate any provisions of any statute, (x) rule or regulation or any order, judgment or decree of any court or governmental agency or body having jurisdiction over such Shares will have been registered in the name Selling Shareholder or any of Cede such Selling Shareholder's properties or another nominee designated by DTCassets, except those, in each case such case, which would not have a material adverse effect on the Company’s share registry in accordance with its certificate ability of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such such Selling Shareholder is not prompted to consummate the transactions contemplated by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(iv) The Such Selling Shareholder has, or immediately prior to the First Time of Delivery (as hereinafter defined), such Selling Shareholder will have, good and valid title to the Shares to be sold by such Selling Shareholder hereunder, without notice of any adverse claim, free and clear of all liens, security interests, pledges, charges, encumbrances, defects, shareholders' agreements, voting trusts, equities or claims of any nature whatsoever; and, upon delivery of such Shares against payment therefor as provided herein (assuming that such Shares are purchased in good faith without notice of adverse claim) good and valid title to such Shares, free and clear of all liens, security interests, pledges, charges, encumbrances, defects, shareholders' agreements, voting trusts, equities or claims of any nature whatsoever, will pass to the several Underwriters.
(vi) Such Selling Shareholder has not (A) taken, directly or indirectly, any action designed to cause or result in, or that has constituted or might reasonably be expected to constitute, the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Shares or (B) since the filing of the Registration StatementStatement (1) sold, when bid for, purchased or paid anyone any compensation for soliciting purchases of, the Shares or (2) paid or agreed to pay to any person any compensation for soliciting another to purchase any other securities of the Company.
(vii) When the Registration Statement or any amendment thereto was or is declared effective and at each Time of Delivery, to the knowledge of such Selling Shareholder, it became effective, did not contain and, as amended or supplemented, if applicable, will not contain include any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement . The foregoing provisions of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g(vii) are limited do not apply to statements or omissions made in the Registration Statement or any amendment thereto in reliance upon and in conformity with written information relating to such Selling Shareholder furnished to the Company by any Underwriter through the Representatives specifically for use therein. In order to document the Underwriters' compliance with the reporting and withholding provisions of the Internal Revenue Code of 1986, as amended, with respect to the transactions herein contemplated, each of the Selling Shareholders agrees to deliver to the Representatives prior to or at the First Time of Delivery a properly completed and executed United States Treasury Department Form W-9 (or other applicable form or statement specified by Treasury Department regulations in writing lieu thereof). Each of the Selling Shareholders represents and warrants that certificates in negotiable form representing all of the Shares to be sold by such Selling Shareholder expressly for use hereunder have been placed in custody (or, in the Registration Statementcase of the contemplated exercise of stock options, a duly executed notice of exercise of stock options to purchase the Time Shares to be sold by the Selling Shareholders hereunder has been placed in custody) under a custody agreement, in the form heretofore furnished to and approved by you (the "Custody Agreement"), duly executed and delivered by such Selling Shareholder to Wachovia Bank of Sale ProspectusNorth Carolina, N.A., as custodian (the Prospectus "Custodian"), and that such Selling Shareholder has duly executed and delivered a Power of Attorney, in the form heretofore furnished to and approved by you, appointing the persons indicated in Schedule II hereto as such Selling Shareholder's attorney-in-fact (the "Attorneys- in-Fact") with authority to execute and deliver this Agreement on behalf of such Selling Shareholder, to determine the purchase price to be paid by the Underwriters to the Selling Shareholders as provided in Section 2 hereof, to authorize the delivery of the Shares to be sold by such Selling Shareholder hereunder and otherwise to act on behalf of such Selling Shareholder in connection with the transactions contemplated by this Agreement and the Custody Agreement. Each of the Selling Shareholders specifically agrees that the Shares represented by the certificates held in custody for such Selling Shareholder under the Custody Agreement are subject to the interests of the Underwriters hereunder, and that the arrangements made by such Selling Shareholder for such custody, and the appointment by such Selling Shareholder of the Attorneys-in-Fact by the Power of Attorney, are irrevocable. Each of the Selling Shareholders specifically agrees that the obligations of the Selling Shareholders hereunder shall not be terminated by operation of law, whether by the death or incapacity of any amendments individual Selling Shareholder, or supplements theretoby the occurrence of any other event.
Appears in 1 contract
Samples: Underwriting Agreement (Goodys Family Clothing Inc /Tn)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder Shareholder, severally and not jointly, represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder and the Company, as Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Custody Agreement”) and the Power of Attorney appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder Registration Statement (the “Power of Attorney and Custody AgreementAttorney”) will not contravene (i) any provision of applicable law, or (ii) the certificate of incorporation or bylaws by-laws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entitya corporation), or (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except except, in the cases case of clause clauses (i), (iii) as and (iv), where such contravention would not, individually or not impair in any material respects the aggregate, impair the ability consummation of such Selling Shareholder to consummate Shareholder’s obligations under this Agreement, the transactions contemplated by this Custody Agreement or the Power of Attorney Attorney, and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Custody Agreement or Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the Securities Act, the Exchange Act, the securities or blue sky Blue Sky laws of any jurisdiction, or the rules and regulations of the various states NASD in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code (the “UCC”) in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the The Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement (within the meaning of Section 8-102 of the UCC) in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted to sell its Shares pursuant to this Agreement by any material information concerning the Company or its subsidiaries the inclusion of which is not set forth necessary to make the statements in the Time of Sale Prospectus to sell its Shares pursuant to this Agreementnot misleading.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Registration Statement and the Prospectus does not, comply and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Companysupplemented, if applicable, will not, contain any untrue statement of a comply in all material fact or omit to state a material fact necessary to make respects with the statements therein, in Securities Act and the light applicable rules and regulations of the circumstances under which they were made, not misleading, Commission thereunder and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except provided, however, that the representations and warranties set forth in this paragraph 2(g) are limited only apply to statements or omissions made in reliance the Registration Statement or the Prospectus based upon and in conformity with information relating to such any Selling Shareholder furnished to the Company in writing by such Selling Shareholder through you expressly for use in therein.
(h) Such Selling Shareholder has not taken any action that would have caused a termination of the Registration StatementCompany’s election to be treated as an S Corporation under Section 1362 of the Code, or its predecessor Code provision, and under the Time corresponding provisions of Sale Prospectus, the Prospectus applicable state and local laws where the Company files or is required to file tax returns to be treated as an S Corporation for any amendments or supplements theretoperiod.
Appears in 1 contract
Samples: Underwriting Agreement (Advance America, Cash Advance Centers, Inc.)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally represents and warrants to and agrees with each of Underwriter and the Underwriters Company that:
(a) This Agreement has been duly authorized, executed All authorizations and delivered by or on behalf of such Selling Shareholder.
(b) The consents necessary for the execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney sale and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and relating to the deposit delivery of the Shares to be sold by such Selling Shareholder hereunder have been given and are in full force and effect on the date hereof and will be in full force and effect on the Closing Date (and, if applicable, the “Power of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entityOption Closing Date), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(cb) Such Selling Shareholder has, and on the Closing Date (and, if applicable, the Option Closing Date) will have, have good and valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, to the Shares to be sold by such Selling Shareholder Shareholder, free and clear of all security interestsliens, mortgages, pledges, encumbrances, claims, liens, equities or other encumbrances and the legal right and powersecurity interests whatsoever, and all authorization will have, full right, power and approval required by law, authority to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, assign, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shareshereunder.
(dc) The Power Upon delivery of Attorney and Custody Agreement has been duly authorizedpayment for such Shares hereunder, executed and delivered by such Selling Shareholder and is a the several Underwriters will acquire valid and binding agreement of unencumbered title to such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be brought.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreementhereunder, delivery free and clear of such Sharesall liens, as directed mortgages, pledges, encumbrances, claims, equities and security interests whatsoever.
(d) The consummation by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when of the transactions contemplated herein and the fulfillment by such paymentSelling Shareholder of the terms hereof will not result in a violation or breach of any terms or provisions of, delivery or constitute a default under, any indenture, mortgage, deed of trust, note, loan agreement, sale and crediting occurleaseback arrangement or other agreement or instrument to which such Selling Shareholder is a party, or of any order, rule or regulation applicable to such Selling Shareholder of any court or of any regulatory body of an administrative agency or other governmental body having jurisdiction.
(xe) such Shares Such Selling Shareholder has not taken and will have been registered not take, directly or indirectly, any action designed to or which might be reasonably expected to cause or result in stabilization or manipulation of the name price of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate 's Common Stock, and such Selling Shareholder is not aware of incorporation, bylaws and applicable law, (y) DTC will any such action taken or to be registered as a “clearing corporation” within the meaning taken by affiliates of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCCsuch Selling Shareholder.
(f) Such When the Registration Statement becomes effective and at all times subsequent thereto, such information in the Registration Statement and Prospectus and any amendments or supplements thereto as specifically refers to such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a any material fact required to be stated therein or necessary to make the statements therein not misleading, .
(iig) the Time of Sale Prospectus does not, and, at the time of each sale Certificates in negotiable form representing all of the Shares to be sold by such Selling Shareholder hereunder have been placed in the custody of Xxxx X. Xxxxxx and Xxxxxx Xxxxxxxx (the "Custodians") under a Custody Agreement (the "Custody Agreement"), duly executed and delivered by such Selling Shareholder, with the Custodians having the authority to deliver the Shares to be sold by such Selling Shareholder hereunder, and that such Selling shareholder has duly executed and delivered a Power of Attorney (the "Power of Attorney") appointing Xxxx X. Xxxxxx and Xxxxxx Xxxxxxxx as such Selling Shareholder's attorneys-in-fact (the "Attorneys-in-Fact") with the Attorneys-in-Fact having authority to execute and deliver this Agreement on behalf of such Selling Shareholder, to determine the purchase price to be paid by the Underwriters to the Selling Shareholders as provided in Section 3, to authorize the delivery of the Shares to be sold by it hereunder and otherwise to act on behalf of such Selling Shareholder in connection with the offering when the Prospectus is not yet available to prospective purchasers transactions contemplated by this Agreement and at the Closing Date such Custody Agreement.
(as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented h) The Shares represented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, certificates held in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to custody for such Selling Shareholder furnished under the Custody Agreement are subject to the Company in writing interests of the Underwriters hereunder, and the arrangements made by such Selling Shareholder expressly for use such custody, and the appointment by such Selling Shareholder for such custody, and the appointment by such Selling Shareholder of the Custodians under the Custody Agreement and of the Attorneys-in-Fact by the Power of Attorney, are to that extent irrevocable.
(i) The obligations of such Selling Shareholders hereunder shall not be terminated by operation of law, whether by the death or incapacity of any individual Selling Shareholder or by the occurrence of any other event, and if any Selling Shareholder should die or become incapacitated, or if any other such event should occur before the delivery of the Shares hereunder, certificates representing the Shares shall be delivered by or on behalf of each Selling Shareholder in accordance with the terms and conditions of this Agreement and of the Custody Agreement, and actions taken by the Custodians pursuant to the custody Agreement or by the Attorneys-in-Fact pursuant to the Power of Attorney shall be as valid as if such death, incapacity or other event had not occurred, regardless of whether or not the Custodians or Attorneys-in-Fact, or any of them, shall have received notice of such death, incapacity or other event.
(j) Such Selling Shareholder is not prompted to sell shares of Common Stock by any information concerning the Company or any of its subsidiaries which is not included in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder Shareholder, severally and not jointly, represents and warrants to and agrees with each of the Underwriters Underwriter that:
(a) Such Selling Shareholder is the lawful owner of the Additional Shares to be sold by such Selling Shareholder pursuant to this Agreement and has, and on the Option Closing Date will have, good and clear title to such Shares, free of all restrictions on transfer, liens, encumbrances, security interests, equities and claims whatsoever.
b) The Additional Shares to be sold by such Selling Shareholder on the Option Closing Date will have been duly authorized and are validly issued, fully paid and non-assessable.
c) Such Selling Shareholder has, and on the Closing Date and the Option Closing Date will have, full legal right, power and authority, and all authorizations and approvals required by law, to enter into this Agreement and to sell, assign, transfer and deliver the Additional Shares to be sold by such Selling Shareholder in the manner provided herein.
d) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be brought.
(e) Upon delivery of and payment for the Additional Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of good and clear title to such Shares, as directed by Additional Shares will pass to the Underwriters, to Cede & Co. free of all restrictions on transfer, liens, encumbrances, security interests, equities and claims whatsoever.
f) The execution, delivery and performance of this Agreement, the compliance by such Selling Shareholder with all the provisions hereof and the consummation of the transactions contemplated hereby will not require any consent, approval, authorization or other order of, or qualification with, any court or governmental body or agency (“Cede”) or except such other nominee as may be designated by required under the Depository Trust Company (“DTC”federal securities laws or the securities or Blue Sky laws of the various states), registration conflict with or constitute a breach of any of the terms or provisions of, or a default under, the organizational documents of such Shares in the name of Cede or Selling Shareholder, if such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted an individual, or any indenture, loan agreement, mortgage, lease or other agreement or instrument to which such Selling Shareholder is a party or by which such Selling Shareholder or any material property of such Selling Shareholder is bound or violate or conflict with any applicable law or any rule, regulation, judgment, order or decree of any court or any governmental body or agency having jurisdiction over such Selling Shareholder or any property of such Selling Shareholder.
g) The information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus Registration Statement under the caption "Principal and Selling Shareholders" that specifically relates to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus such Selling Shareholder does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is and will not yet available to prospective purchasers and at on the Closing Date (as defined in Section 5), or the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will notOption Closing Date, contain any untrue statement of a material fact or omit to state a any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii.
h) At any time during the Prospectus does not contain and, as amended or supplementedperiod described in Section 5(d), if applicable, will not contain there is any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, change in the light of the circumstances under which they were madeinformation referred to in Section 7(g), not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished will immediately notify you of such change.
i) Such Selling Shareholder has not taken, and will not take, directly or indirectly, any action designed to, or which might reasonably be expected to, cause or result in stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Shares pursuant to the Company distribution contemplated by this Agreement, and other than as permitted by the Act, such Selling Shareholder has not distributed and will not distribute any prospectus or other offering material in writing connection with the offering and sale of the Shares.
j) Certificate(s) in negotiable form for up to the maximum number of shares of Common Stock that may be sold by such Selling Shareholder expressly to the Underwriters have been placed in custody with American Stock Transfer and Trust Company for use in the Registration Statementpurpose of effecting delivery thereof under this Agreement.
k) Such Selling Shareholder is not a "member" of the NASD, a controlling shareholder of a "member", a "person associated with a member" or an "affiliate" of a "member" or a member of the Time "immediate family" of Sale Prospectus, any of the Prospectus foregoing or any amendments an "underwriter or supplements theretorelated person" with respect to the proposed offering of the Common Stock.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally and not jointly represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder and Computershare Trust Company, N.A., as Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Custody Agreement”), and the Power of Attorney appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder Registration Statement (the “Power of Attorney and Custody AgreementAttorney”) ), will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation or bylaws by-laws of such Selling Shareholder (if such Selling Shareholder is an entitya corporation) or other organizational documents of such Selling Shareholder (if applicable), or any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which such Selling Shareholder is another type of entity), (iii) any agreement a party or other instrument binding upon by which such Selling Shareholder is bound or (iv) to which any of the property or assets of such Selling Shareholder is subject, or any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Custody Agreement or Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder hashas (or, upon the exercise of vested stock options for shares of Common Stock, will have on or prior to the Closing Date or the applicable Option Closing Date), and on the Closing Date and on each Option Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder on such Closing Date or Option Closing Date, as the case may be, free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder on such Closing Date or Option Closing Date, as the case may be, or a security entitlement in respect of such Shares.
(d) The Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such SharesShares or any securities entitlement thereto), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder has no reason to believe that the representations and warranties of the Company contained in Section 1 are not true and correct, is familiar with the Registration Statement, the Time of Sale Prospectus and the Prospectus and has no knowledge of any material fact, condition or information not disclosed in the Time of Sale Prospectus or the Prospectus that has had, or may have, a material adverse effect on the Company. Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Registration Statement and the Prospectus comply and, as amended or supplemented, if applicable, will comply in all material respects with the Securities Act and the applicable rules and regulations of the Commission thereunder, (iii) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, (iv) each broadly available road show, if any, when considered together with the Time of Sale Prospectus, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading and (iiiv) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except ; provided that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder Shareholder, severally and not jointly, represents and warrants to and agrees with the Independent Underwriter and each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, and the consummation of the transactions contemplated by, this Agreement and Agreement, the Custody Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit transactions contemplated hereby and by the Registration Statement (the “Power of Attorney”), the statement of election and questionnaire relating to the number of Shares such Selling Shareholder wishes to sell in the offering in the form of ADSs (the “Statement of Election and Questionnaire”) and the share transfer form relating to the transfer of such Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody AgreementShare Transfer Form”) will not contravene (i) or result in any breach or violation of any provision of applicable law, (ii) law or the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational constitutive documents of such Selling Shareholder (if such Selling Shareholder is another type of entity)Shareholder, (iii) or any agreement or other instrument binding upon such Selling Shareholder Shareholder, or (iv) any judgment, order or decree of any governmental body, agency or court Governmental Agency having jurisdiction over such Selling Shareholder, except in the cases of clause .
(iiic) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency other Governmental Authorization by any Governmental Agency having jurisdiction over such Selling Shareholder is required for execution and delivery by such Selling Shareholder of, the performance by such Selling Shareholder of its such Selling Shareholder’s obligations under under, and the consummation of the transactions contemplated by, this Agreement or Agreement, the Custody Agreement, the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect ofAttorney, the Shares to be sold by such Selling Shareholder free Statement of Election and clear of all security interests, claims, liens, equities or other encumbrances Questionnaire and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such SharesShare Transfer Form.
(d) The Custody Agreement, the Power of Attorney Attorney, the Statement of Election and Custody Agreement has Questionnaire and the Share Transfer Form have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its their terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be brought.
(e) Upon payment for the Shares to be sold The Statement of Election and Questionnaire completed by such Selling Shareholder pursuant and submitted to this Agreementthe Company on or before [ ], delivery 2008 does not, and as of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee Closing Date and the crediting applicable Option Closing Date will not, contain any untrue statement of such Shares on a material fact or omit to state a material fact required to be stated therein or necessary to make the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares)statements therein, (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCCnot misleading.
(f) The Power of Attorney constitutes a valid instrument granting the attorney-in-fact named in such Power of Attorney the power and authority stated therein, and permits the attorneys-in-fact to bind such Selling Shareholder with respect to all matters granted, conferred and contemplated in such Power of Attorney, and such Power of Attorney has not been revoked, cancelled or terminated at any time.
(g) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries the Subsidiaries which is not set forth in the Time of Sale Prospectus and the Prospectus to sell its Shares ADSs pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Registration Statement and the Prospectus comply and, as amended or supplemented, if applicable, will comply in all material respects with the Securities Act and the applicable rules and regulations of the Commission thereunder, (iii) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares ADSs in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5)Date, the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, (iv) each broadly available road show, if any, when considered together with the Time of Sale Prospectus, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading and (iiiv) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g.
(i) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Such Selling Shareholder furnished has, and on the Closing Date and each Option Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares and the ADSs to the Company in writing be sold by such Selling Shareholder expressly free and clear of any security interest, other encumbrance or adverse claims, and such Shares and ADSs will have been sold in compliance with all applicable securities laws.
(j) Delivery of the Shares and the ADSs to be sold by such Selling Shareholders and payment therefor pursuant to this Agreement will pass valid title to such Shares and ADSs, free and clear of any adverse claim within the meaning of Section 8-102 of the New York Uniform Commercial Code, to each Underwriter who has purchased such Shares and ADSs without notice of an adverse claim.
(k) Such Selling Shareholder has, and on the Closing Date and each Option Closing Date will have, the legal right and power, and all Governmental Authorizations, to enter into this Agreement, the Custody Agreement, the Power of Attorney, the Statement of Election and Questionnaire and the Share Transfer Form and to sell, transfer and deliver the ADSs to be sold by such Selling Shareholder and to deposit with the Depositary the Shares underlying the ADSs to be sold by such Selling Shareholder.
(l) Upon payment of the purchase price in accordance with this Agreement at the Closing Date and each Option Closing Date, the Depositary or its nominee, as the registered holder of such Shares will be, subject to the terms of the Deposit Agreement, entitled to all the rights of a shareholder conferred by the amended and restated memorandum and articles of association of the Company. Such Shares may be freely deposited by such Selling Shareholders with the Depositary against issuance of ADRs evidencing ADSs; ADSs are freely transferable by such Selling Shareholders to or for use the account of the several Underwriters; and except as disclosed in the Time of Sale Prospectus and Prospectus, there are no restrictions on the subsequent transfer of such Shares or the ADSs under the laws of the Cayman Islands, Hong Kong, the BVI, the PRC and the United States.
(m) Such Selling Shareholder has not taken and will not take, directly or indirectly, any action designed to, or that has constituted or might reasonably be expected to, cause or result in, under the Exchange Act or otherwise, the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Shares or the ADSs.
(n) There is no contract, agreement or understanding between such Selling Shareholder and any person that would give rise to a valid claim against such Selling Shareholder or any Underwriter for a brokerage commission, finder’s fee or other like payment in connection with this offering.
(o) Except as described in the Registration Statement, the Time of Sale Prospectus, Prospectus or the Prospectus or otherwise disclosed to the Underwriters or their counsel, there are no affiliations or associations between any amendments member of FINRA and such Selling Shareholder; none of the proceeds received by such Selling Shareholder from the sale of the ADSs to be sold by such Selling Shareholder pursuant to this Agreement will be paid to a member of FINRA or supplements theretoany affiliate of (or person “associated with,” as such terms are used in FINRA rules) such member.
(p) Pursuant to the Custody Agreement to which such Selling Shareholder is a party, certificates in negotiable form for the Shares underlying the ADSs to be sold by such Selling Shareholder pursuant to this Agreement have been placed in custody for the purpose of making delivery of such Shares in accordance with this Agreement; such Selling Shareholder agrees that (i) such Shares represented by such certificates are for the benefit of, and coupled with and subject to the interest of, the Custodian, the attorneys-in-fact of the Selling Shareholders, the Underwriters and the Company, (ii) the arrangements made by such Selling Shareholder for custody and for the appointment of the Custodian and the attorneys-in-fact of the Selling Shareholders by such Selling Shareholder are irrevocable, and (iii) the obligations of such Selling Shareholder hereunder shall not be terminated by operation of law, whether by the death, disability or incapacity of such Selling Shareholder (or, if such Selling Shareholder is not an individual, the liquidation, dissolution, merger or consolidation of such Selling Shareholder) or the occurrence of any event (each, an “Event”); if an Event occurs before the delivery of the Shares hereunder, certificates for the Shares shall be delivered by the Custodian in accordance with the terms and conditions of the Power of Attorney to which such Selling Shareholder is a party, the Custody Agreement to which such Selling Shareholder is a party and this Agreement, and actions taken by the Custodian and the attorneys-in-fact of the Selling Shareholders pursuant to such Power of Attorney or such Custody Agreement shall be as valid as if such Event had not occurred, regardless of whether or not the Custodian or the attorneys-in-fact of the Selling Shareholders, or either of them, shall have received notice thereof.
(q) Such Selling Shareholder has not distributed and will not distribute, prior to the later of the latest Option Closing Date and the completion of the Underwriters’ distribution of the ADSs, any offering material in connection with the offering and sale of the ADSs by the Selling Shareholders, including any free writing prospectus.
(r) Other than as disclosed in the Time of Sale Prospectus and the Prospectus, such Selling Shareholder does not have any registration or other similar rights to have any equity or debt securities registered for sale by the Company under the Registration Statement or included in this offering.
(s) Such Selling Shareholder does not have, or has waived prior to the date hereof, any preemptive rights, co-sale rights, resale rights, rights of first refusal or similar rights to purchases any of the Shares that are to be sold by the Company or any other Selling Shareholder to the Underwriters pursuant to this Agreement; and such Selling Shareholder does not own any warrants, options or similar rights to acquire, and does not have any right or arrangement to acquire, any capital shares, right, warrants, options or other securities from the Company, other than those described in the Time of Sale Prospectus and the Prospectus.
(t) Neither such Selling Shareholder, nor, to the best knowledge of such Selling Shareholder, any director, officer, agent, employee or affiliate of such Selling Shareholder a Person that is currently subject to any OFAC-administered sanctions; and such Selling Shareholder will not directly or indirectly use the proceeds of the offering of the ADSs hereunder, or lend, contribute or otherwise make available such proceeds to any joint venture partner or other Person, to fund activities of or business with any Person, or in any country or territory, that is the subject of OFAC-administered sanctions, or in a manner that would otherwise cause any Person (including any Person involved in or facilitating the offering of the Shares, whether as underwriter, advisor, or otherwise) to violate any OFAC-administered sanctions.
(u) Any certificate signed by any officer of such Selling Shareholder or the attorneys-in-fact for such Selling Shareholder under the Power of Attorney and delivered to you or counsel for the Underwriters as required or contemplated by this Agreement shall constitute a representation and warranty hereunder by such Selling Shareholder, as to matters covered thereby, to each Underwriter.
Appears in 1 contract
Samples: Underwriting Agreement (GCL Silicon Technology Holdings Inc.)
Representations and Warranties of the Selling Shareholders. Each of the ---------------------------------------------------------- Selling Shareholder Shareholders, severally and not jointly represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution of and delivery by or on behalf of such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals and American Stock Transfer & Trust Company, as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “"CUSTODY AGREEMENT") and the Power of Attorney appointing certain individuals as such Selling Shareholder's attorneys-in-fact to the extent set forth therein, relating to the transactions contemplated hereby and Custody Agreement”by the Registration Statement (the "POWER OF ATTORNEY") will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation or bylaws by-laws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entitya corporation), (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Custody Agreement or Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states states, the Securities Act or the NASD Rules in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, to the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such SharesShareholder.
(d) The Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by or on behalf of such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(e) Upon sale and delivery of and payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, title to such Shares may be asserted against the Underwriters with respect to will pass free and clear of any security interests, claims, liens, equities and other encumbrances other than any such security entitlement; for purposes of this representationinterest, such Selling Shareholder may assume that when such paymentclaim, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede lien equity or another nominee designated encumbrance created by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCCor resulting from an action taken by an Underwriter.
(f) Such The information in the Prospectus which specifically relates to such Selling Shareholder is not prompted which has been furnished in writing by any material information concerning the Company or its subsidiaries which is not set forth on behalf of such Selling Shareholder expressly for use in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effectiveany Preliminary Prospectus, did the Prospectus or any amendments or supplements thereto does not contain and, as amended on the date of the execution of this Agreement or supplemented, if applicable, will not on the Closing Date, contain any untrue statement of a material fact or omit to state a any material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto.
Appears in 1 contract
Samples: Underwriting Agreement (Digitas Inc)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally and not jointly represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder and Computershare Trust Company, N.A., as Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Custody Agreement”), and the Power of Attorney appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder Registration Statement (the “Power of Attorney and Custody AgreementAttorney”) ), will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation or bylaws by-laws of such Selling Shareholder (if such Selling Shareholder is an entitya corporation) or other organizational documents of such Selling Shareholder (if applicable), or any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which such Selling Shareholder is another type of entity), (iii) any agreement a party or other instrument binding upon by which such Selling Shareholder is bound or (iv) to which any of the property or assets of such Selling Shareholder is subject, or any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Custody Agreement or Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date and on each Option Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder on such Closing Date or Option Closing Date, as the case may be, free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder on such Closing Date or Option Closing Date, as the case may be, or a security entitlement in respect of such Shares.
(d) The Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(e) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such SharesShares or any securities entitlement thereto), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder has no reason to believe that the representations and warranties of the Company contained in Section 1 are not true and correct, is familiar with the Registration Statement, the Time of Sale Prospectus and the Prospectus and has no knowledge of any material fact, condition or information not disclosed in the Time of Sale Prospectus or the Prospectus that has had, or may have, a material adverse effect on the Company. Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Registration Statement and the Prospectus comply and, as amended or supplemented, if applicable, will comply in all material respects with the Securities Act and the applicable rules and regulations of the Commission thereunder, (iii) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, (iv) each broadly available road show, if any, when considered together with the Time of Sale Prospectus, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading and (iiiv) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except ; provided that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. A. Each of the Selling Shareholder Shareholders, other than the Greenwich Street Affiliates severally and not jointly represents and warrants to and agrees with each of the Underwriters Manager that:
(a) Such Selling Shareholder now has, and on the Closing Date and the Option Closing Date, if any, will have, valid and marketable title to the Additional Shares to be sold by such Selling Shareholder, free and clear of any lien, claim, security interest or other encumbrance, including, without limitation, any restriction on transfer.
(b) Such Selling Shareholder now has, and on the Closing Date and the Option Closing Date, if any, will have, full legal right, power and authorization, and any approval required by law, to sell, assign, transfer and deliver such Additional Shares in the manner provided in this Agreement and the U.S. Underwriting Agreement, and upon delivery of and payment for such Additional Shares hereunder, the several Managers will acquire valid and marketable title to such Additional Shares free and clear of any lien, claim, security interest, or other encumbrance (other than any lien, claim or security interest placed thereon by the U.S. Underwriters or Managers).
(c) This Agreement, the U.S. Underwriting Agreement has and the Custody Agreement entered into by such Selling Shareholder have been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a are the valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its their terms, except that (i) as the enforceability hereof or thereof may be limited by bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium or other similar laws affecting creditors’ now or hereafter in effect relating to rights of creditors or other obligees generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to certain equitable defenses and principles and to the discretion of the court before which any proceeding the proceedings may be broughtbrought and (iii) rights to indemnity and contribution hereunder or thereunder may be limited by federal or state securities laws or the public policy underlying such laws.
(d) Neither the sale of the Additional Shares, the execution, delivery or performance of this Agreement, the U.S. Underwriting Agreement or the Custody Agreement entered into by such Selling Shareholder by or on behalf of such Selling Shareholder nor the consummation by or on behalf of such Selling Shareholder of the transactions contemplated hereby and thereby (i) requires any consent, approval, authorization or other order of, or registration or filing with, any court, regulatory body, administrative agency or other governmental body, agency or official (except such as may be required for the registration of the Shares under the Act and compliance with the securities or Blue Sky laws of various jurisdictions, all of which have been or will be effected in accordance with this Agreement), or (ii) conflicts or will conflict with or constitutes or will constitute a breach of, or a default under, any agreement, indenture, lease or other instrument to which such Selling Shareholder is a party or by which such Selling Shareholder is or may be bound, or violates or will violate any statute, law, regulation or filing or judgment, injunction, order or decree applicable to such Selling Shareholder, or will result in the creation or imposition of any lien, charge or encumbrance upon any property or assets of such Selling Shareholder pursuant to the terms of any agreement or instrument to which such Selling Shareholder is a party or by which such Selling Shareholder may be bound or to which any of the property or assets of such Selling Shareholder is subject except where the failure to obtain such consent, approval, authorization or order, or effect such filing or registration, or such conflicts, defaults, violations or other action will not have, individually or in the aggregate, a Material Adverse Effect.
(e) Upon payment for the Shares The information pertaining to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by under the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares caption "Principal and Selling Shareholders" in the name of Cede or such other nominee Prospectuses does not and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any an untrue statement of a material fact or omit to state a any material fact required to be stated therein or necessary to make the statements therein not misleading.
(f) The representations and warranties of such Selling Shareholder in the Custody Agreement entered into by such Selling Shareholder are, and on the Closing Date and any Option Closing Date will be, true and correct.
(g) Such Selling Shareholder has not taken, directly or indirectly, any action designed to or that might reasonably be expected to cause or result in stabilization or manipulation of the price of the Common Stock to facilitate the sale or resale of the Shares, except for the lock-up arrangements referred to in the Prospectuses.
B. Each Greenwich Street Affiliate represents and warrants to each Manager that:
(a) Such Selling Shareholder now has, and on the Closing Date and the Option Closing Date, if any, will have, valid and marketable title to the Warrants exercisable for the Additional Shares to be sold by such Selling Shareholder hereunder, free and clear of any lien, claim, security interest or other encumbrance, including, without limitation, any restriction on transfer, and on the Closing Date and the Option Closing Date, if any, such Selling Shareholder will have, valid and marketable title to the Additional Shares issuable upon exercise of the Warrants and to be sold by such Selling Shareholder hereunder, free and clear of any lien, claim, security interest or other encumbrance, including, without limitation, any restriction on transfer.
(b) Such Selling Shareholder now has, and on the Closing Date and the Option Closing Date, if any, will have, full legal right, power and authorization, and any approval required by law, to exercise the Warrants for the Additional Shares and sell, assign, transfer and deliver such Additional Shares in the manner provided in this Agreement and the U.S. Underwriting Agreement, and upon delivery of and payment for such Additional Shares hereunder, the several Managers will acquire valid and marketable title to such Additional Shares free and clear of any lien, claim, security interest, or other encumbrance.
(c) This Agreement, the U.S. Underwriting Agreement and the Greenwich Street Custody Agreement have been duly authorized, executed and delivered by or on behalf of such Selling Shareholder and are the valid and binding agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with their terms, except that (i) the enforceability hereof or thereof may be limited by bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium or other similar laws now or hereafter in effect relating to rights of creditors and other obligees generally, (ii) the Time remedy of Sale Prospectus does notspecific performance and other forms of equitable relief may be subject to certain equitable defenses and principles and to the discretion of the court before which the proceedings may be brought and (iii) rights to indemnity and contribution hereunder or thereunder may be limited by federal or state securities laws or the public policy underlying such laws.
(d) None of the exercise of the Warrants for the Additional Shares to be sold by such Selling Shareholder hereunder, andthe sale of such Additional Shares, at the time execution, delivery or performance of each sale this Agreement, the U.S. Underwriting Agreement or the Greenwich Street Custody Agreement by or on behalf of such Selling Shareholder nor the consummation by or on behalf of such Selling Shareholder of the transactions contemplated hereby and thereby (i)requires any consent, approval, authorization or other order of, or registration or filing with, any court, regulatory body, administrative agency or other governmental body, agency or official (except such as may be required for the registration of the Shares in connection under the Act or compliance with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5securities or Blue Sky laws of various jurisdictions), or (ii) conflicts or will conflict with or constitutes or will constitute a breach of, or a default under, any agreement, indenture, lease or other instrument to which such Selling Shareholder is a party or by which such Selling Shareholder is or may be bound, or violates or will violate any statute, law, regulation or filing or judgment, injunction, order or decree applicable to such Selling Shareholder, or will result in the Time creation or imposition of Sale Prospectusany lien, as then amended charge or supplemented encumbrance upon any property or assets of such Selling Shareholder pursuant to the terms of any agreement or instrument to which such Selling Shareholder is a party or by which such Selling Shareholder may be bound or to which any of the Companyproperty or assets of such Selling Shareholder is subject.
(e) The information pertaining to such Selling Shareholder under the caption "Principal and Selling Shareholders" in the Prospectuses, if applicable, does not and will not, not contain any an untrue statement of a material fact or omit to state a any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, therein not misleading, and .
(iiif) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the The representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to of such Selling Shareholder furnished to in the Company in writing by such Greenwich Street Custody Agreement are, and on the Closing Date and the Option Closing Date, if any, will be, true and correct.
(g) Such Selling Shareholder expressly has not taken, directly or indirectly, any action designed to or that might reasonably be expected to cause or result in stabilization or manipulation of the price of the Common Stock to facilitate the sale or resale of the Shares, except for use the lock-up arrangements referred to in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements theretoProspectuses.
Appears in 1 contract
Samples: International Underwriting Agreement (Telegroup Inc)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement Such Selling Shareholder has been duly authorizedand at the Closing Date will have good and marketable title to the Selling Shareholder Shares being sold by such Selling Shareholder hereunder, executed free and delivered by clear of any outstanding liens, encumbrances, security interests, rights, subscriptions, warrants, calls, preemptive rights, options or on behalf other agreements of any kind, and full right, power and authority to effect the sale and delivery of such Shares; and upon the delivery of and payment for the Selling ShareholderShareholder Shares pursuant to this Agreement, good and marketable title thereto, free and clear of any liens, encumbrances, security interests, rights, subscriptions, warrants, calls, preemptive rights, options or other agreements of any kind, will be transferred to the several Underwriters.
(b) Such Selling Shareholder has full right, power and authority to execute and deliver this Agreement and the Custody Agreement referred to below and to perform its obligations under such Agreements. The execution and delivery by such Selling Shareholder of, of this Agreement and the performance consummation by such Selling Shareholder of its obligations under, this Agreement the transactions herein contemplated and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation or bylaws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance fulfillment by such Selling Shareholder of its obligations under this Agreement the terms hereof will not require any consent, approval, authorization, or the Power other order of Attorney and Custody Agreement of such Selling Shareholderany court, regulatory body, administrative agency or other governmental body (except for such consents, approvals, authorizations, orders or qualifications as may be required by under the Act, state securities laws or blue sky laws and regulations Blue Sky Laws). The consummation of the various states in connection with transactions herein contemplated and the offer and sale fulfillment of the Sharesterms hereof will not conflict with or result in a breach of any of the terms or provisions of, or constitute a default under, any indenture, mortgage, deed of trust or other material agreement or instrument to which such Selling Shareholder is a party, or any order, rule or regulation applicable to such Selling Shareholder of any court or of any regulatory body or administrative agency or other governmental body having jurisdiction.
(c) Such Selling Shareholder hashas not taken and will not take, and on directly or indirectly, any action designed to or which has constituted or which might reasonably be expected to cause or result, under the Closing Date will have, valid title toExchange Act, or a valid “security entitlement” within the meaning of Section 8-501 otherwise, in stabilization or manipulation of the New York Uniform Commercial Code in respect of, price of the Shares Company's Common Stock to be sold by such Selling Shareholder free and clear facilitate the sale or resale of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) Such Selling Shareholder has executed and delivered this Agreement and the Custody Agreement, and in connection herewith, such Selling Shareholder further represents, warrants and agrees that such Selling Shareholder has deposited with The Power Bank of Attorney New York, pursuant to the Custody Agreement, the certificates in negotiable form representing such Selling Shareholder Shares for the purpose of further delivery pursuant to this Agreement; and the form of the Custody Agreement has been duly authorized, executed and previously delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtyou.
(e) Upon payment for Without having undertaken to determine independently the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery accuracy or completeness of such Shares, as directed by either the Underwriters, to Cede & Co. (“Cede”) representations and warranties of the Company contained herein or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares information contained in the name of Cede or such other nominee Registration Statement and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representationdocuments incorporated therein by reference, such Selling Shareholder may assume that when such paymentis familiar with the Registration Statement and has no knowledge of any material fact, delivery and crediting occur, (x) such Shares will have been registered condition or information not disclosed in the name of Cede Registration Statement or another nominee designated the documents incorporated therein by DTC, in each case on reference which has adversely affected or may adversely affect the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 business of the UCC Company which was previously operated by Ellex Xxxia Company; and (z) appropriate entries to the accounts sale of such Selling Shareholder's Shares by the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder pursuant hereto is not prompted by any material information concerning the Company or its subsidiaries any of the Subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this AgreementRegistration Statement or the documents incorporated therein by reference.
(if) The Registration StatementOn the Closing Date, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact all transfer and other taxes (other than income taxes) that are required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, at the time of each sale of the Shares paid in connection with the offering when sale and transfer of the Prospectus is not yet available Selling Shareholder Shares to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented Underwriters will have been paid by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements theretoShareholder.
Appears in 1 contract
Samples: Underwriting Agreement (Clear Channel Communications Inc)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally represents and warrants to and agrees with each of the Underwriters Underwriter that:
(a) Such Selling Shareholder now has, and on the Closing Date and any Option Closing Date will have, valid and marketable title to the Shares to be sold by such Selling Shareholder, free and clear of any lien, claim, security interest or other encumbrance, including, without limitation, any restriction on transfer.
(b) Such Selling Shareholder now has, and on the Closing Date and any Option Closing Date will have, full legal right, power and authorization, and any approval required by law, to sell, assign transfer and deliver such Shares in the manner provided in this Agreement, and upon delivery of and payment for such Shares hereunder, the several Underwriters will acquire valid and marketable title to such Shares free and clear of any lien, claim, security interest, or other encumbrance.
(c) This Agreement has and the Custody Agreement have been duly authorized, executed and delivered by or on behalf of such Selling ShareholderShareholder and are the valid and binding agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with their terms, except to the extent enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to creditors' rights generally or by general equitable principles.
(bd) The Neither the execution and delivery of this Agreement or the Custody Agreement by or on behalf of such Selling Shareholder of, and nor the performance by such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and relating to the deposit consummation of the Shares to be sold transactions herein or therein contemplated by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation or bylaws on behalf of such Selling Shareholder (if such Selling Shareholder is an entityi) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) requires any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No consent, approval, authorization or order of, or filing or qualification registration with, any court, regulatory body, administrative agency or other governmental body body, agency or agency is official (except such as may be required for under the performance by Act or such as may be required under state securities or Blue Sky laws governing the purchase and distribution of the Shares) or (ii) conflicts or will conflict with or constitutes or will constitute a breach of, or default under, or violates or will violate, any agreement, indenture or other instrument to which such Selling Shareholder of its obligations under this Agreement is a party or the Power of Attorney and Custody Agreement by which such Selling Shareholder is or may be bound or to which any of such Selling Shareholder, except for such consents, approvals, authorizations, orders 's property or qualifications as may be required by the securities or blue sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title toassets is subject, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect ofany statute, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, rule, regulation, ruling, judgment, injunction, order or decree applicable to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement to any property or assets of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(e) Upon payment for The Registration Statement and the Shares Prospectus, insofar as they contain information relating to be sold by such Selling Shareholder pursuant to this AgreementShareholder, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee do not and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any an untrue statement of a material fact or omit to state a any material fact required to be stated therein or necessary to make the statements therein not misleading, .
(iif) Such Selling Shareholder does not have any knowledge or any reason to believe that the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when Registration Statement or the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any amendment or supplement thereto) contains any untrue statement of a material fact or omit omits to state a any material fact required to be stated therein or necessary to make the statements therein, therein not misleading.
(g) The representations and warranties of such Selling Shareholder in the light of the circumstances under which they were made, not misleadingCustody Agreement are, and on the Closing Date and any Option Closing Date will be, true and correct.
(iiih) the Prospectus Such Selling Shareholder does not contain and, as amended have any knowledge or supplemented, if applicable, will not contain any untrue statement of a material fact or omit reason to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except believe that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to of the Company in writing by such this Agreement are not true and correct.
(i) Such Selling Shareholder expressly has not taken, directly or indirectly, any action designed to or that might reasonably be expected to cause or result in stabilization or manipulation of the price of the Common Stock to facilitate the sale or resale of the Shares, except for use the lock-up arrangements described in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto.
Appears in 1 contract
Samples: Underwriting Agreement (Outsource International Inc)
Representations and Warranties of the Selling Shareholders. Each Except as otherwise provided below, each Selling Shareholder listed in Schedule II, severally and not jointly, represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and and, if applicable, the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals and the Company, as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) and the Power of Attorney appointing certain individuals as such Selling Shareholder’s attorney-in-fact (each, an “Attorney-in-Fact”) to the extent set forth therein, relating to the transactions contemplated hereby and by the Registration Statement (the “Power of Attorney”) will not contravene (i) conflict with or result in a breach or violation of any provision of applicable lawthe terms or provisions of, (ii) or constitute a default under, any contract, indenture, mortgage, deed of trust, loan or credit agreement, note, lease or other agreement or instrument to which such Selling Shareholder is a party or by which such Selling Shareholder is bound or to which any of the certificate of incorporation property or bylaws assets of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entity), (iii) any agreement or other instrument binding upon such Selling Shareholder subject or (ivii) result in any judgment, order or decree violation of any statute or any order, rule or regulation of any court or governmental body, agency or court body having jurisdiction over such Selling Shareholder, except in Shareholder or the cases of clause (iii) as would not, individually property or in the aggregate, impair the ability assets of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. Shareholder.
(c) No consent, approval, authorization or order of, or filing or qualification registration with, any court or governmental agency or body having jurisdiction over such Selling Shareholder or agency the property or assets of such Selling Shareholder is required for the execution, delivery and performance of this Agreement, and if applicable the Custody Agreement or the Power of Attorney, by such Selling Shareholder or the consummation by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney transactions contemplated hereby and Custody Agreement of such Selling Shareholderthereby, except for the registration of the Shares under the Securities Act and such consents, approvals, authorizations, orders registrations or qualifications as may be required under the Exchange Act and as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(cd) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, and if applicable the Custody Agreement and the Power of Attorney and Custody Agreement Attorney, and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(de) The If applicable, the Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, authorized by such Selling Shareholder and when executed and delivered by such Selling Shareholder and is a Shareholder, are valid and binding agreement agreements of such Selling Shareholder Shareholder, enforceable against such Selling Shareholder in accordance with its their terms, except (i) as may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or affecting creditors’ rights generally, generally and by general principles of equity (ii) that the remedy regardless of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any whether such enforceability is considered in a proceeding may be broughtin equity or at law).
(ef) Upon payment for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (Ai) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (Bii) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (Ciii) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(fg) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries Subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Registration Statement and the Prospectus comply and, as amended or supplemented, if applicable, will comply in all material respects with the Securities Act and the applicable rules and regulations of the Commission thereunder, (iii) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, (iv) each broadly available road show, if any, when considered together with the Time of Sale Prospectus, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading and (iiiv) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except provided that the representations and warranties set forth in this paragraph 2(gSection 2(h) are limited do not apply to statements or omissions made in reliance the Registration Statement, the Time of Sale Prospectus or the Prospectus based upon and in conformity with information relating to such Selling Shareholder any Underwriter furnished to the Company in writing by such Selling Shareholder Underwriter through the Representatives expressly for use therein, and provided further that the representations and warranties set forth in this Section 2(h) apply only to the extent that any such statements in or omissions from any Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments broadly available road show are made in reliance on and in conformity with written information relating to such Selling Shareholder that has been furnished to the Company by or supplements theretoon behalf of such Selling Shareholder specifically and expressly for use therein.
(i) The documents incorporated by reference in each of the Registration Statement, the Time of Sale Prospectus and the Prospectus, when they were filed or furnished with the Commission conformed in all material respects to the requirements of the Exchange Act, and none of such documents contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; and any further documents so filed and incorporated by reference in the Registration Statement, the Time of Sale Prospectus and the Prospectus, when such documents become effective or are filed or furnished with the Commission, as the case may be, will conform in all material respects to the requirements of the Securities Act or the Exchange Act, as applicable, and will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, provided that the representations and warranties set forth in this Section 2(i) apply only to the extent that any such statements in or omissions from any documents incorporated by reference in the Registration Statement, the Time of Sale Prospectus and the Prospectus are made in reliance on and in conformity with written information relating to such Selling Shareholder that has been furnished to the Company by or on behalf of such Selling Shareholder specifically and expressly for use therein.
(j) Such Selling Shareholder does not have any registration or other similar rights to have any equity or debt securities registered for sale by the Company under the Registration Statement or included in the offering of the Shares, except for such rights as have been waived or which are described in the Registration Statement, Time of Sale Prospectus and Prospectus.
(k) Such Selling Shareholder does not have, or has waived prior to the date hereof, any preemptive right, co-sale right or right of first refusal or other similar right to purchase any of the Shares that are to be sold by the Company or any other Selling Shareholder to the Underwriters pursuant to this Agreement; and such Selling Shareholder does not own any warrants, options or similar rights to acquire, and does not have any right or arrangement to acquire, any capital stock, rights, warrants, options or other securities from the Company, other than those described in the Registration Statement, the Time of Sale Prospectus and the Prospectus.
(l) There are no contracts, agreements or understandings between such Selling Shareholder and any person that would give rise to a valid claim against the Company or any Underwriter for a brokerage commission, finder’s fee or other like payment in connection with this offering.
(m) There are no affiliations or associations between any member of FINRA and such Selling Shareholder, except as set forth in a questionnaire completed by such Selling Shareholder and delivered to the Representatives prior to the date of this Agreement; none of the proceeds received by such Selling Shareholder from the sale of the Shares to be sold by such Selling Shareholder pursuant to this Agreement will be paid to a member of FINRA or any affiliate of (or person “associated with”, as such terms are used in the Rules of FINRA) such member.
(n) Such Selling Shareholder represents that it has not prepared or had prepared on its behalf or used or referred to any free writing prospectus and represents that it has not distributed any written materials in connection with the offer or sale of the Shares.
(o) Such Selling Shareholder has not taken, directly or indirectly, any action designed to cause or result in, or that has constituted or might reasonably be expected to constitute, the stabilization or manipulation of the price of any securities of the Company.
(p) Such Selling Shareholder:
(i) represents that neither it nor, to the knowledge of such Selling Shareholder, any director, officer, employee, agent, affiliate or representative of such Selling Shareholder, is a Person that is, or is owned or controlled by a Person that is
(A) the subject of any Sanctions, or
(B) located, organized or resident in a country or territory that is the subject of Sanctions (including, without limitation, Burma/Myanmar, Cuba, Iran, Libya, North Korea, Sudan and Syria);
(ii) represents and covenants that it will not, directly or indirectly, use the proceeds of the offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person:
(A) to fund or facilitate any activities or business of or with any Person or in any country or territory that, at the time of such funding or facilitation, is the subject of Sanctions; or
(B) in any other manner that will result in a violation of Sanctions by any Person (including any Person participating in the offering, whether as underwriter, advisor, investor or otherwise); and
(iii) represents and covenants that for the past 5 years, it has not knowingly engaged in, is not now knowingly engaged in, and will not engage in, any dealings or transactions with any Person, or in any country or territory, that at the time of the dealing or transaction is or was the subject of Sanctions. Any certificate signed by any Selling Shareholder and delivered to the Representatives or counsel for the Underwriters in connection with the Shares shall be deemed a representation and warranty by such Selling Shareholder, as to matters covered thereby, to each Underwriter.
Appears in 1 contract
Samples: Underwriting Agreement (RDA Microelectronics, Inc.)
Representations and Warranties of the Selling Shareholders. Each of the Selling Shareholder Shareholders severally and not jointly represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and the Irrevocable Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s 's attorneys-in-fact to the extent set forth therein and relating to ( the deposit of the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) "POWER OF ATTORNEY"), will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation or bylaws by-laws of such Selling Shareholder (if such Selling Shareholder is an entity) a corporation), or other organizational documents of the instrument creating and governing such Selling Shareholder (if such Selling Shareholder is another type of entitya trust), (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of except such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the Securities Act or the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Each Selling Shareholder has, and on the Closing Date will have, has valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, to the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder; and, on the Closing Date, such Selling Shareholder or a security entitlement in respect will have valid title to all of the Shares to be sold by such SharesSelling Shareholder and the legal right and power, and all authorization and approval required by law, to sell, transfer and deliver all of the Shares to be sold by such Selling Shareholder.
(d) The Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(e) Upon payment for transfer (as defined below) of the Shares to be sold by such Selling Shareholder pursuant to this AgreementThe Depository Trust Company, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the The Depository Trust Company will acquire the Shares free of all adverse claims (“DTC”within the meaning of Sections 8-102(a)(1) and 8-303 of the Uniform Commercial Code as in effect in New York or Illinois, as applicable (the "UCC"), registration ). "Transfer" of such the Shares in to The Depository Trust Company will occur upon the name making by the Company's transfer agent of Cede or such other nominee and appropriate entries transferring the crediting of such Shares on the its books of DTC and records to securities accounts The Depository Trust Company. Each of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim shall acquire a "securities entitlement" (within the meaning of Section 8-105 102(a)(17) of the New York Uniform Commercial Code (UCC) in the “UCC”)) Shares to be purchased by it, free of all adverse claims created by, through or with respect to the Selling Shareholder, upon the making by The Depository Trust Company of a book entry that shares of the Company's stock in the amounts set forth opposite each Underwriter's name on Schedule II or III hereto have been credited to such Shares), Underwriter's security account (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 501(a) of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the The Depository Trust Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto.
Appears in 1 contract
Samples: Underwriting Agreement (Staples Inc)
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder and the Company, as Custodian, relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Custody Agreement”) and the Power of Attorney appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and therein, relating to the deposit of transactions contemplated hereby and by the Shares to be sold by such Selling Shareholder Registration Statement (the “Power of Attorney and Custody AgreementAttorney”) will not contravene (i) any provision of applicable law, (ii) or the certificate of incorporation or bylaws by-laws of such Selling Shareholder (if such Selling Shareholder is an entity) or other organizational documents of such Selling Shareholder (if such Selling Shareholder is another type of entitya corporation), (iii) or any agreement or other instrument binding upon such Selling Shareholder or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Custody Agreement or Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders or qualifications as may be required by the securities or blue sky Blue Sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement, the Custody Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Custody Agreement and the Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its termsShareholder, except (i) as limited by subject to the effects of bankruptcy, insolvency, reorganization, moratorium or and similar laws of general applicability relating to or affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtgeneral equitable principles.
(e) Upon payment for Delivery of the Shares to be sold by such Selling Shareholder and payment therefor pursuant to this Agreement, delivery of Agreement will pass valid title to such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee free and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice clear of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCCNew York Uniform Commercial Code, to each Underwriter who has purchased such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes without notice of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCCan adverse claim.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) the Time of Sale Prospectus does not, and, and at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, (iii) each broadly available road show, if any, when considered together with the Time of Sale Prospectus, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading and (iiiiv) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except ; provided that the representations and warranties set forth in this paragraph 2(g) made by Selling Shareholders are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto.
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder severally represents and warrants to and agrees with each of the Underwriters Underwriter that:
(a) Such Selling Shareholder now has, and on the Closing Date and any Option Closing Date will have, valid and marketable title to the Shares to be sold by such Selling Shareholder, free and clear of any lien, claim, security interest or other encumbrance, including, without limitation, any restriction on transfer.
(b) Such Selling Shareholder now has, and on the Closing Date and any Option Closing Date will have, full legal right, power and authorization, and any approval required by law, to sell, assign transfer and deliver such Shares in the manner provided in this Agreement, and upon delivery of and payment for such Shares hereunder, the several Underwriters will acquire valid and marketable title to such Shares, free and clear of any lien, claim, security interest, or other encumbrance.
(c) This Agreement has and the Custody Agreement have been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution Shareholder and delivery by such Selling Shareholder of, are the valid and the performance by such Selling Shareholder of its obligations under, this Agreement and the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact to the extent set forth therein and relating to the deposit of the Shares to be sold by such Selling Shareholder (the “Power of Attorney and Custody Agreement”) will not contravene (i) any provision of applicable law, (ii) the certificate of incorporation or bylaws binding agreements of such Selling Shareholder (if enforceable against such Selling Shareholder is an entityin accordance with their respective terms.
(d) Neither the execution and delivery of this Agreement or other organizational documents the Custody Agreement by or on behalf of such Selling Shareholder (if such Selling Shareholder is another type nor the consummation of entity), (iii) any agreement the transactions herein or other instrument binding upon such Selling Shareholder therein contemplated by or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability on behalf of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney and Custody Agreement. No requires any consent, approval, authorization or order of, or filing or qualification registration with, any court, regulatory body, administrative agency or other governmental body body, agency or agency is official (except such as may be required for under the performance by Act or such as may be required under state securities or Blue Sky laws governing the purchase and distribution of the Shares) or conflicts or will conflict with or constitutes or will constitute a breach of, or default under, or violates or will violate, any agreement, indenture or other instrument to which such Selling Shareholder of its obligations under this Agreement is a party or the Power of Attorney and Custody Agreement by which such Selling Shareholder is or may be bound or to which any of such Selling Shareholder, except for such consents, approvals, authorizations, orders 's property or qualifications as may be required by the securities or blue sky laws and regulations of the various states in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title toassets is subject, or a valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect ofany statute, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, rule, regulation, ruling, judgment, injunction, order or decree applicable to enter into this Agreement and the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement has been duly authorized, executed and delivered by such Selling Shareholder and is a valid and binding agreement to any property or assets of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its terms, except (i) as limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally, and (ii) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtShareholder.
(e) Upon payment for The Registration Statement and the Shares Prospectus, insofar as they relate to be sold by such Selling Shareholder pursuant to this AgreementShareholder, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such other nominee as may be designated by the Depository Trust Company (“DTC”), registration of such Shares in the name of Cede or such other nominee do not and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “UCC”)) to such Shares), (A) DTC shall be a “protected purchaser” of such Shares within the meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action based on any “adverse claim”, within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation” within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any an untrue statement of a material fact or omit to state a any material fact required to be stated therein or necessary to make the statements therein not misleading, .
(iif) Such Selling Shareholder does not have any knowledge or any reason to believe that the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when Registration Statement or the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any amendment or supplement thereto) contains any untrue statement of a material fact or omit omits to state a any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, therein not misleading, and .
(iiig) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except that the The representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to of such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for use in the Registration StatementCustody Agreement are, and on the Time of Sale ProspectusClosing Date and any Option Closing Date will be, the Prospectus or any amendments or supplements thereto.true
Appears in 1 contract
Representations and Warranties of the Selling Shareholders. Each Selling Shareholder Shareholder, severally and not jointly, represents and warrants to and agrees with each of the Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such Selling Shareholder.
(b) The execution and delivery by such Selling Shareholder of, and the performance by such Selling Shareholder of its obligations under, this Agreement and Agreement, the Power of Attorney and Custody Agreement signed by such Selling Shareholder appointing certain individuals as such Selling Shareholder’s attorneys-in-fact Agreement, in the form heretofore furnished to the extent set forth therein and Representatives, relating to the deposit of the Shares to be sold by such Selling Shareholder and appointing certain individuals as such Selling Shareholder's attorneys-in-fact to the extent set forth therein, relating to the transactions contemplated hereby and by the Registration Statement (the “"Power of Attorney and Custody Agreement”") do not and will not contravene (i) contravene any provision of applicable law, (ii) or the certificate of incorporation incorporation, or bylaws certificate of such Selling Shareholder (if such Selling Shareholder is an entity) formation or by-laws or operating agreement or other organizational constitutive documents of such Selling Shareholder (if such Selling Shareholder is another type of a corporation or other entity), or (iiiii) conflict with or constitute a breach of, or default under, any contract, indenture, mortgage, deed of trust, loan or credit agreement, note, license, lease or other agreement or instrument to which such Selling Shareholder is a party or by which such Selling Shareholder may be bound, or to which any of the property or assets of such Selling Shareholder is subject, or result in the creation or imposition of any tax (other instrument binding than New York State Stock Transfer Tax), lien, charge or encumbrance upon the Shares to be sold by such Selling Shareholder or (iviii) contravene any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Selling Shareholder, except in the cases of clause (iii) as would not, individually or in the aggregate, impair the ability of such Selling Shareholder to consummate the transactions contemplated by this Agreement or the Power of Attorney ; and Custody Agreement. No no consent, approval, authorization or order of, or filing or qualification with, any governmental body or agency is required for the performance by such Selling Shareholder of its obligations under this Agreement or the Power of Attorney and Custody Agreement of such Selling Shareholder, except for such consents, approvals, authorizations, orders as have been already obtained or qualifications as may be required by the Exchange Act, the securities laws or blue sky Blue Sky laws and regulations of the various states jurisdictions and any consent or approval required by the NASD in connection with the offer and sale of the Shares.
(c) Such Selling Shareholder has, and on the Closing Date will have, valid title to, or a valid “"security entitlement” " within the meaning of Section 8-501 of the New York Uniform Commercial Code in respect of, the Shares to be sold by such Selling Shareholder free and clear of all security interests, claims, liens, equities or other encumbrances and the legal right and power, and all authorization and approval required by law, to enter into this Agreement and Agreement, the Power of Attorney and Custody Agreement and to sell, transfer and deliver the Shares to be sold by such Selling Shareholder or a security entitlement in respect of such Shares.
(d) The Power of Attorney and Custody Agreement has have been duly authorized, executed and delivered by such Selling Shareholder and is a are valid and binding agreement agreements of such Selling Shareholder enforceable against such Selling Shareholder in accordance with its termsShareholder, except (i) as rights to indemnification thereunder may be limited by applicable law and except as the enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting creditors’ the rights generally, and (ii) that the remedy remedies of specific performance and injunctive and other forms of creditors or by general equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding may be broughtprinciples.
(e) The Shares to be sold by such Selling Shareholder pursuant to this Agreement are certificated securities in registered form and are not held in any securities account or by or through any securities intermediary within the meaning of the Uniform Commercial Code as in effect in the State of New York (the "UCC"). Certificates for all of the Shares to be sold by such Selling Shareholder pursuant to this Agreement, in suitable form for transfer by delivery or accompanied by duly executed instruments of transfer or assignment in blank with signatures guaranteed, have been placed in custody with Herbalife Ltd. (the "Custodian") with irrevocable conditional instructions to deliver such Shares to the Underwriters pursuant to this Agreement.
(f) Upon payment of the purchase price for the Shares to be sold by such Selling Shareholder pursuant to this Agreement, delivery of such Shares, as directed by the Underwriters, to Cede & Co. (“"Cede”") or such other nominee as may be designated by the The Depository Trust Company (“"DTC”") (unless delivery of such Shares is unnecessary because such Shares are already in possession of Cede or such nominee), registration of such Shares in the name of Cede or such other nominee (unless registration of such Shares is unnecessary because such Shares are already registered in the name of Cede or such nominee), and the crediting of such Shares on the books of DTC to securities accounts of the Underwriters (assuming that neither DTC nor any such Underwriter has notice of any "adverse claim (claim", within the meaning of Section 8-105 of the New York Uniform Commercial Code (the “"UCC”")) , to such Shares), (A) DTC shall be a “"protected purchaser” of such Shares ", within the meaning of Section 8-303 of the UCC, of such Shares and will acquire its interest in the Shares (including, without limitation, all rights that such Selling Shareholder had or has the power to transfer in such Shares) free and clear of any adverse claim within the meaning of Section 8-102 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will acquire a valid security entitlement in respect of such Shares and (C) no action (whether framed in conversion, replevin, constructive trust, equitable lien, or other theory) based on any “"adverse claim”", within the meaning of Section 8-102 of the UCC, to such Shares may be asserted against the Underwriters with respect to such security entitlement; for purposes of this representation, such Selling Shareholder may assume that when such payment, delivery (if necessary) and crediting occur, (x) such Shares will have been registered in the name of Cede or another nominee designated by DTC, in each case on the Company’s 's share registry in accordance with its certificate of incorporation, bylaws and applicable law, (y) DTC will be registered as a “"clearing corporation” ", within the meaning of Section 8-102 of the UCC UCC, and (z) appropriate entries to the accounts of the several Underwriters on the records of DTC will have been made pursuant to the UCC.
(fg) Such Selling Shareholder has no reason to believe that the representations and warranties of the Company contained in Section 1 are not materially true and correct, is familiar with the Registration Statement and Prospectus and has no knowledge of any material fact, condition or information not disclosed in the Prospectus that has had, or may have, a material adverse effect on the Company and its subsidiaries, taken as a whole. Such Selling Shareholder is not prompted by any material information concerning the Company or its subsidiaries which is not set forth in the Time of Sale Registration Statement and the Prospectus to sell its Shares pursuant to this Agreement.
(i) The Registration Statement, any Rule 462(b) Registration Statement and any post-effective amendment, when it became effective, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, misleading and (ii) the Time of Sale Prospectus does not, and, at the time of each sale of the Shares in connection with the offering when the Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (iii) the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, except ; provided that the representations and warranties set forth in this paragraph 2(g) are limited to statements or omissions made in reliance upon and in conformity with information relating to such Selling Shareholder furnished to the Company in writing by such Selling Shareholder expressly for the use in the Registration Statement, the Time of Sale Prospectus, the Prospectus or any amendments or supplements thereto.
(i) Such Selling Shareholder has not taken, and will not take, directly or indirectly, any action which is designed to or which has constituted or would be expected to cause or result in stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Shares.
(j) Except as previously disclosed to the Representatives, neither such Selling Shareholder nor any of its affiliates directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, or is a person associated with (within the meaning of Article I(dd) of the By-laws of the NASD), any member firm of the NASD. Any certificate signed by or on behalf of a Selling Shareholder as such and delivered to the Representatives or to counsel for the Underwriters pursuant to the terms of this Agreement shall be deemed a representation and warranty by such Selling Shareholder to the Underwriters as to the matters covered thereby.
Appears in 1 contract
Samples: Purchase Agreement (Herbalife Ltd.)