Common use of SUBSCRIPTION OF THE BONDS Clause in Contracts

SUBSCRIPTION OF THE BONDS. (A) Subject to fulfilment of the Conditions Precedent and the provisions of this Agreement, the Subscriber shall subscribe for or procure the subscription of and the Company agrees to issue for cash at the principal amount of the Subscription Bonds payable at Completion, free from all Encumbrances. (B) The Subscriber shall pay to the order of the Company the subscription price for the Subscription Bonds in accordance with the provisions set out in Clause 4(B). (C) The Company shall apply the proceeds from the issue of the Subscription Bonds (net of expenses) in and towards acquisition and/or funding the cash requirements of the Solar Business.