Shareholder Redemption Withdrawal Instruction Clause Samples
The Shareholder Redemption Withdrawal Instruction clause outlines the process by which a shareholder can retract or withdraw a previously submitted request to redeem their shares. Typically, this clause specifies the conditions under which a withdrawal is permitted, such as time limits before the redemption is processed or requirements for submitting a formal notice of withdrawal. Its core practical function is to provide shareholders with flexibility and control over their investment decisions, while also ensuring the company has clear procedures to manage redemption requests and avoid administrative confusion.
Shareholder Redemption Withdrawal Instruction. Gentlemen:
Shareholder Redemption Withdrawal Instruction. Gentlemen: Pursuant to Section 1(k) of the Investment Management Trust Agreement between TPG Pace Holdings Corp. (the “Company”) and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of , 2017 (the “Trust Agreement”), the Company hereby requests that you deliver to the redeeming Public Shareholders of the Company $ of the principal and interest income earned on the Property as of the date hereof. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement. The Company needs such funds to pay its Public Shareholders who have properly elected to have their Ordinary Shares redeemed by the Company in connection with a shareholder vote to approve an amendment to the Company’s amended and restated memorandum and articles of association to modify the substance or timing of the Company’s obligation to redeem 100% of its Ordinary Shares if the Company has not consummated an initial Business Combination within such time as is described in the Company’s amended and restated memorandum and articles of association. As such, you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter to the redeeming Public Shareholders in accordance with your customary procedures. Very truly yours, TPG Pace Holdings Corp. By: Name: Title:
Shareholder Redemption Withdrawal Instruction. Pursuant to Section 1(k) of the Investment Management Trust Agreement between Social Capital Hedosophia Holdings Corp. (the “Company”) and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of September 13, 2017 (the “Trust Agreement”), the Company hereby requests that you deliver to the redeeming Public Shareholders on behalf of the Company $ of the principal and interest income earned on the Property as of the date hereof. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.