Surrender of Purchaser Certificates Sample Clauses
The 'Surrender of Purchaser Certificates' clause requires purchasers to return or relinquish certificates they have received, typically as evidence of ownership or entitlement, under certain conditions specified in the agreement. In practice, this may occur when a transaction is completed, cancelled, or when the certificates are being exchanged for new ones, such as during a transfer of ownership or redemption process. The core function of this clause is to ensure proper documentation and control over the certificates, preventing unauthorized use and maintaining accurate records of ownership or entitlement.
Surrender of Purchaser Certificates. All securities issued upon the surrender of Purchaser Securities in accordance with the terms hereof shall be deemed to have been issued in full satisfaction of all rights pertaining to such securities, provided that any restrictions on the sale and transfer of Purchaser Securities shall also apply to the Pubco Securities so issued in exchange.