Sub-division. If after the date hereof, and subject to the provisions of Section 4.6 below, the number of outstanding Class A Shares is increased by a share capitalization payable in Class A Shares, or by a sub-division of Class A Shares or other similar event, then, on the effective date of such share capitalization, sub-division or similar event, the number of Class A Shares issuable on exercise of each Warrant shall be increased in proportion to such increase in the outstanding Class A Shares. A rights offering made to all or substantially all holders of the Class A Shares entitling holders to purchase Class A Shares at a price less than the “Historical Fair Market Value” (as defined below) shall be deemed a share capitalization of a number of Class A Shares equal to the product of (i) the number of Class A Shares actually sold in such rights offering (or issuable under any other equity securities sold in such rights offering that are convertible into or exercisable for Class A Shares) and (ii) one (1) minus the quotient of (x) the price per Class A Share paid in such rights offering divided by (y) the Historical Fair Market Value. For purposes of this subsection 4.1.1, (i) if the rights offering is for securities convertible into or exercisable for Class A Shares, in determining the price payable for Class A Shares, there shall be taken into account any consideration received for such rights, as well as any additional amount payable upon exercise or conversion and (ii) “Historical Fair Market Value” means the volume weighted average price of the Class A Shares as reported during the ten (10) trading day period ending on the trading day prior to the first date on which the Class A Shares trade on the applicable exchange or in the applicable market, regular way, without the right to receive such rights. No Class A Shares shall be issued at less than their par value.
Sub-division. Any resolution authorising the Company to sub-divide its shares or any of them may determine that, as between the shares resulting from the sub-division, any of them may have any preference or advantage or be subject to any restriction as compared with the others.
Sub-division. If after the date hereof, and subject to the provisions of Section 4.6 below, the number of outstanding shares of Common Stock is increased by a share capitalization payable in shares of Common Stock, or by a sub-division of shares of Common Stock or other similar event, then, on the effective date of such share capitalization, sub-division or similar event, the number of shares of Common Stock issuable on exercise of each Warrant shall be increased in proportion to such increase in the outstanding shares of Common Stock . A rights offering made to all or substantially all holders of the shares of Common Stock entitling holders to purchase shares of Common Stock at a price less than the “Historical Fair Market Value” (as defined below) shall be deemed a share capitalization of a number of shares of Common Stock equal to the product of (i) the number of shares of Common Stock actually sold in such rights offering (or issuable under any other equity securities sold in such rights offering that are convertible into or exercisable for shares of Common Stock ) and (ii) one (1) minus the quotient of (x) the price per share of Common Stock paid in such rights offering divided by (y) the Historical Fair Market Value. For purposes of this subsection 4.1.1, (i) if the rights offering is for securities convertible into or exercisable for shares of Common Stock, in determining the price payable for shares of Common Stock, there shall be taken into account any consideration received for such rights, as well as any additional amount payable upon exercise or conversion and (ii) “Historical Fair Market Value” means the volume weighted average price of the shares of Common Stock as reported during the ten (10) trading day period ending on the trading day prior to the first date on which the shares of Common Stock trade on the applicable exchange or in the applicable market, regular way, without the right to receive such rights.
Sub-division. The building and the arrangement of services is designed for a single tenant occupancy or a multi-tenancy arrangement. From 1st to Fifth Floor the floor plates can be sub-divided into two self-contained tenancies. Floors: Large format natural stone floor with a honed finish Atrium Walls/Ceilings: Plasterboard ceiling system with a polished finish with illuminated recess detailing Reception desk: A bespoke unit of high-quality to the main reception.
Sub-division. (a) To sub-divide, in such manner as he deems fit, his Shop, the Shares allocated thereto under this Deed and the Right to Occupy attached to such Shares;
(b) Without prejudice to the generality of paragraph 2(a) above, to:
(i) sub-allocate to any part of that Shop such of the Shares and Management Shares allocated to that Shop under this Deed as he deems fit;
(ii) sell, assign, charge, mortgage or otherwise dispose of or deal with such sub-allocated Shares together with the Right to Occupy the part of that Shop to which such Shares are sub-allocated; and
(iii) enter into a Sub-Deed of Mutual Covenant in relation to the sub-divided Shop (in this paragraph 2(b), the “Sub-DMC”) Provided that:
(1) subject to paragraph 2(b)(iii)(2) below, the Sub-DMC shall be drafted in accordance with guidelines of the Law Society of Hong Kong from time to time applicable (save to the extent waived by the Law Society of Hong Kong); and
(2) the Sub-DMC does not conflict with the provisions of this Deed.
Sub-division. (a) To enter into a Sub-Deed of Mutual Covenant (in this paragraph 2, the “Sub-DMC”) in respect of the whole or any part of a Shop whereby the whole or (as the case may be) that part of a Shop may be sub-divided Provided That
(i) the Director of Lands has given his approval or waived the requirement for his approval of the form of the Sub-DMC; and
(ii) the Sub-DMC does not conflict with this Deed.
(b) To appoint a manager for a Shop for which a Sub-DMC has been entered into.
Sub-division. (a) To sub-divide, in such manner as he deems fit, the Commercial Accommodation, the Shares allocated thereto under this Deed and the Right to Occupy attached to such Shares;
(b) Without prejudice to the generality of paragraph 2(a) above, to:
(i) sub-allocate to any part of the Commercial Accommodation such of the Shares and Management Shares allocated to the Commercial Accommodation under this Deed as he deems fit;
(ii) sell, assign, charge, mortgage or otherwise dispose of or deal with such sub-allocated Shares together with the Right to Occupy the part of the Commercial Accommodation to which such Shares are sub-allocated; and
(iii) enter into a Sub-Deed of Mutual Covenant in relation to the sub-divided Commercial Accommodation (in this paragraph 2(b), the “Sub-DMC”) Provided that:
(1) the Sub-DMC shall be drafted in accordance with guidelines of the Law Society of Hong Kong from time to time applicable (save to the extent waived by the Law Society of Hong Kong and save and except such guidelines already incorporated in the principal DMC and remain applicable to matters to be governed by the sub-DMC); and
(2) if compliance of such Guidelines will be in conflict with the provisions of this Deed, those guidelines shall only apply to the extent necessary to avoid any such conflict.
Sub-division. (a) To sub-divide, in such manner as he deems fit, his Shop, the Shares allocated thereto under this Deed and the Right to Occupy attached to such Shares and to sub-allocate to any part of that Shop such of the Shares and Management Shares allocated to that Shop under this Deed as he deems fit Provided that such sub-division and sub-allocation shall first be approved in writing by the Director of Lands.
(b) Without prejudice to the generality of Clause 2(a) above, to:
(i) sell, assign, charge, mortgage or otherwise dispose of or deal with such sub-allocated Shares together with the Right to Occupy the part of that Shop to which such Shares are sub-allocated; and
(ii) enter into a Sub-Deed of Mutual Covenant in relation to the sub-divided Shop (in this Clause 2(b), the “Sub-DMC”) Provided that:
(1) the Sub-DMC shall be previously approved in writing by the Director of Lands but where the Director of Lands is satisfied, upon submission of the draft Sub-DMC to the Director of Lands, that the Sub-DMC relates only to the internal sub-division of an existing Unit and that by the Sub-DMC there will be no alteration to Common Parts or areas or liability for management or other changes under this Deed, the Director of Lands may, in his absolute discretion, waive the requirement of approval of the Sub-DMC;
(2) the Sub-DMC does not conflict with the provision of this Deed; and
(3) if after such sub-division of a Shop under the Sub-DMC common areas are created, the Owner of a Shop unit created by the Sub-DMC including the First Owner may not convert any areas of his Shop into common areas without approval by a resolution of all Owners having interests in the Shop so sub-divided.
Sub-division. Sub-division of the Lot
Sub-division. (a) To enter into a Sub-Deed of Mutual Covenant (in this paragraph 2, the “Sub-DMC”) in respect of the whole or any part of the Commercial Accommodation whereby the whole or (as the case may be) that part of the Commercial Accommodation may be sub-divided Provided That:
(i) the Director of Lands has given his approval or waived the requirement for his approval of the form of the Sub-DMC; and
(ii) the Sub-DMC does not conflict with this Deed.
(b) To appoint a manager for the part of the Commercial Accommodation for which a Sub-Deed of Mutual Covenant has been entered into.
