Shortfall Securities Clause Samples

Shortfall Securities. (a) The Company may issue any New Securities not subscribed for in accordance with clauses 6.1 and 6.2 (Shortfall Securities) to any person or persons determined by the Board within four months after the date of service of the Notice of Issue: (1) for an issue price per New Security not less than the price specified in the Notice of Issue; and (2) on terms not generally more beneficial to the subscriber, when taken in aggregate, than those set out in the Notice of Issue. (b) If the Company does not issue the New Securities within the time set out in clause 6.3(a) it may not issue those New Securities without complying again with clause 6.1.