Common use of Suspension or Termination of Sales Clause in Contracts

Suspension or Termination of Sales. Consistent with standard market settlement practices, the Company, the Agent, Forward Purchase, or Forward Seller may, upon notice to the other party hereto in writing or by telephone (confirmed immediately by verifiable e-mail), suspend any sale of Shares or Forward Hedge Shares, and the period set forth in an Issuance Notice shall immediately terminate; provided, however, that (A) such suspension and termination shall not affect or impair either party’s obligations with respect to any Shares or Forward Hedge Shares placed or sold hereunder prior to the receipt of such notice; (B) if the Company suspends or terminates any sale of Shares or Forward Hedge Shares after the Agent confirms such sale to the Company, the Company shall still be obligated to comply with Section 3(b) with respect to such Shares or Forward Hedge Shares sold; and (C) if the Company defaults in its obligation to deliver Shares in connection with an Issuance on a Settlement Date, the Company agrees that it will hold the Agent and Forward Seller harmless against any loss, claim, damage or expense (including, without limitation, penalties, interest and reasonable legal fees and expenses), as incurred, arising out of or in connection with such default by the Company. The parties hereto acknowledge and agree that, in performing its obligations under this Agreement, the Agent may borrow Common Shares from stock lenders in the event that the Company has not delivered Shares to settle sales as required by subsection (ix) above, and may use the Shares to settle or close out such borrowings. The Company agrees that no such notice shall be effective against the Agent unless it is made to the persons identified in writing by the Agent pursuant to Section 3(b).

Appears in 1 contract

Samples: Open Market Sale Agreement (Postal Realty Trust, Inc.)

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Suspension or Termination of Sales. Consistent with standard market settlement practices, the CompanyCompany or the Selling Stockholders, on the one hand, or the Agent, Forward Purchaseon the other hand, or Forward Seller may, upon notice to the other party hereto in writing (including via email) or by telephone (confirmed immediately promptly by verifiable e-mailemail), suspend any sale of Shares Shares; provided that if any of the representations and warranties of the Company contained in Section 2(a)(ii) are not true and correct as of a Representation Date, the Company will provide notice to the other party hereto in writing (including via email) or Forward Hedge by telephone (confirmed promptly by verifiable email) to suspend any sale of Shares, and the period set forth in an Issuance Notice shall immediately terminate; provided, however, that (A) such suspension and termination shall not affect or impair either any party’s obligations with respect to any Shares or Forward Hedge Shares placed or sold hereunder prior to the receipt of such notice; (B) if the Company suspends or terminates the Selling Stockholders suspend or terminate any sale of Shares or Forward Hedge Shares after the Agent confirms such sale to the CompanySelling Stockholders, the Company Selling Stockholders shall still be obligated to comply with Section 3(b3(b)(iv) with respect to such Shares or Forward Hedge Shares soldShares; and (C) if the Company any Selling Stockholder defaults in its obligation to deliver Shares in connection with an Issuance on a Settlement Date, the Company agrees Selling Stockholders collectively agree that it will hold the Agent and Forward Seller harmless against any loss, claim, damage or expense (including, without limitation, penalties, interest and reasonable and documented legal fees and expenses), as incurred, arising out of or in connection with such default by the Companysuch Selling Stockholder, as applicable. The parties hereto acknowledge and agree that, in performing its obligations under this Agreement, the Agent may borrow Common Shares from stock lenders in the event that the Company any Selling Stockholder has not delivered Shares to settle sales as required by subsection (ixv) above, and may use the Shares to settle or close out such borrowings. The Company and each Selling Stockholder agrees that no such notice of suspension delivered by the Company or the Selling Stockholders pursuant to this Section 3(b)(vi) shall be effective against the Agent unless it is made to the persons identified in writing by the Agent pursuant to Section 3(b3(b)(i). While a suspension is in effect, any obligation with respect to the delivery of consents, certificates, opinions, or comfort letters to the Agent shall be deemed waived.

Appears in 1 contract

Samples: Open Market Sale Agreement (Janus International Group, Inc.)

Suspension or Termination of Sales. Consistent with standard market settlement practices, the CompanyCompany or the Selling Stockholder, as applicable, on the one hand, or the Agent, Forward Purchaseon the other hand, or Forward Seller may, upon notice to the other party hereto in writing (including via email) or by telephone (confirmed immediately promptly by verifiable e-mailemail), suspend any sale of Shares or Forward Hedge Shares, and and, with respect to sales by the Company, the period set forth in an Issuance Notice Notice, with respect to the Company, shall immediately terminate; provided, however, that (A) such suspension and termination shall not affect or impair either any party’s obligations with respect to any Shares or Forward Hedge Shares placed or sold hereunder prior to the receipt of such notice; (B) if the Company or the Selling Stockholder, as applicable, suspends or terminates any sale of Shares or Forward Hedge Shares after the Agent confirms such sale to the CompanyCompany or the Selling Stockholder, as applicable, the Company or the Selling Stockholder, as applicable, shall still be obligated to comply with Section 3(b3(b)(vi) or Section 3(b)(vii), as applicable, with respect to such Shares or Forward Hedge Shares soldShares; and (C) if the Company or the Selling Stockholder, as applicable, defaults in its obligation to deliver Shares in connection with an Issuance on a Settlement Date, the Company or the Selling Stockholder, as applicable, agrees that it will hold the Agent and Forward Seller harmless against any loss, claim, damage or expense (including, without limitation, penalties, interest and reasonable and documented legal fees and expenses), as incurred, arising out of or in connection with such default by the CompanyCompany or the Selling Stockholder, as applicable. The parties hereto acknowledge and agree that, in performing its obligations under this Agreement, the Agent may borrow Common Shares from stock lenders in the event that the Company or the Selling Stockholder, as applicable, has not delivered Shares to settle sales as required by subsection (ixvi) or (vii) above, as applicable, and may use the Shares to settle or close out such borrowings. The Company agrees that no such notice of suspension delivered by the Company pursuant to this Section 3(b)(viii) shall be effective against the Agent unless it is made to the persons identified in writing by the Agent pursuant to Section 3(b3(b)(i). While a suspension is in effect, any obligation with respect to the delivery of consents, certificates, opinions, or comfort letters to the Agent shall be deemed waived.

Appears in 1 contract

Samples: Open Market Sale Agreement (Smart Sand, Inc.)

Suspension or Termination of Sales. Consistent with standard market settlement practices, the Company, Company or the Agent, Forward Purchase, or Forward Seller Agent through whom the sale of Shares is to be made on an agency basis on any Trading Day may, upon notice to the other party hereto relevant parties in writing or by telephone (confirmed immediately promptly by verifiable e-mailemail, which confirmation will be promptly acknowledged by each receiving party), suspend any sale of Shares or Forward Hedge Shareswith respect to which such Agent is acting as sales agent, and the period set forth in an Issuance Notice Selling Period shall immediately terminate; provided, however, that (A) such suspension and termination shall not affect or impair either party’s the respective parties’ obligations with respect to any Shares or Forward Hedge Shares placed or sold sold, or with respect to Shares that the Company has instructed such Agent to sell, hereunder prior to the receipt of such notice, that the Agent has agreed to purchase prior to the receipt of such notice pursuant to a Terms Agreement or with respect to any offering or resale of any Shares purchased or to be purchased by the Agent pursuant to a Terms Agreement entered into prior to the receipt of such notice; (B) if the Company suspends or terminates any sale of Shares or Forward Hedge Shares after the Agent confirms such sale to the Companythereto, the Company shall still be obligated to comply with Section 3(b‎Section 3(b)(v) with respect to such Shares Shares; (C) such suspension and termination shall not affect or impair the respective parties’ obligations with respect to any Confirmation executed and delivered by the Company and the relevant Forward Purchaser prior to giving of such notice under which Forward Hedge Shares have been sold; , and (CD) if the Company defaults in its obligation to deliver Shares in connection with an Issuance on a Settlement Date, the Company agrees and the Operating Partnership agree that it they will hold the relevant Agent and Forward Seller harmless against any loss, claim, damage or expense (including, without limitation, penalties, interest and reasonable legal fees and expenses), as incurred, arising out of or in connection with such default by the Company. The Each of the parties hereto acknowledge acknowledges and agree agrees that, in performing its obligations under this Agreement, the Agent may borrow Common Shares and/or Series A Preferred Shares from stock lenders in the event that the Company has not delivered Shares to settle sales as required by subsection (ixv) above, and may use the Shares to settle or close out such borrowings. The Company agrees and the Operating Partnership agree that no such notice shall be effective against the Agent unless it is made to the persons representatives identified in writing by the Agent pursuant to Section 3(b‎Section 3(b)(i).

Appears in 1 contract

Samples: Sales Agreement (National Storage Affiliates Trust)

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Suspension or Termination of Sales. Consistent with standard market settlement practices, the Company, the AgentForward Purchaser, Forward Purchase, Seller or Forward Seller the Agent may, upon notice to the other party hereto in writing or by telephone (confirmed immediately by verifiable e-mailemail), suspend any sale of Shares or Forward Hedge SharesADSs, and the period set forth in an Issuance Notice shall immediately terminate; provided, however, that (A) such suspension and termination shall not affect or impair either party’s obligations with respect to any Shares or Forward Hedge Shares ADSs placed or sold hereunder prior to the receipt of such notice; (B) if the Company suspends or terminates any sale of Shares or Forward Hedge Shares ADSs after the Agent or Forward Purchaser confirms such sale to the Company, the Company shall still be obligated to comply with Section 3(b3(b)(v) with respect to such the Shares or Forward Hedge Shares ADSs sold; and (C) if the Company defaults in its obligation to deliver Shares in connection with an Issuance on a Settlement Date, the Company agrees that it will hold the Agent and Forward Seller harmless against any loss, claim, damage or expense (including, without limitation, penalties, interest and reasonable legal fees and expenses), as incurred, arising out of or in connection with such default by the Company. The parties hereto acknowledge and agree that, in performing its obligations under this Agreement, the Agent may borrow Common Shares from stock lenders in the event that the Company has not delivered Shares to settle sales as required by subsection (ix) above, and may use the Shares to settle or close out such borrowings. The Company agrees that no such notice shall be effective against the Agent unless it is made to the persons identified in writing by the Agent pursuant to Section 3(b3(b)(i).

Appears in 1 contract

Samples: Open Market Sale Agreement (Opthea LTD)

Suspension or Termination of Sales. Consistent with standard market settlement practices, the CompanyCompany or the Selling Stockholder, on the one hand, or the Agent, Forward Purchaseon the other hand, or Forward Seller may, upon notice to the other party hereto in writing (including via email) or by telephone (confirmed immediately promptly by verifiable e-mailemail), suspend any sale of Shares Shares; provided that if any of the representations and warranties of the Company contained in Section 2(a)(ii) are not true and correct as of a Representation Date, the Company will provide notice to the other party hereto in writing (including via email) or Forward Hedge by telephone (confirmed promptly by verifiable email) to suspend any sale of Shares, and the period set forth in an Issuance Notice shall immediately terminate; provided, however, that (A) such suspension and termination shall not affect or impair either any party’s obligations with respect to any Shares or Forward Hedge Shares placed or sold hereunder prior to the receipt of such notice; (B) if the Company or the Selling Stockholder suspends or terminates any sale of Shares or Forward Hedge Shares after the Agent confirms such sale to the CompanySelling Stockholder, the Company Agent shall still be obligated to comply with Section 3(b3(b)(iv) with respect to such Shares or Forward Hedge Shares soldShares; and (C) if the Company Selling Stockholder defaults in its obligation to deliver Shares in connection with an Issuance on a Settlement Date, the Company Selling Stockholder agrees that it will hold the Agent and Forward Seller harmless against any loss, claim, damage or expense (including, without limitation, penalties, interest and reasonable and documented legal fees and expenses), as incurred, arising out of or in connection with such default by the CompanySelling Stockholder. The parties hereto acknowledge and agree that, in performing its obligations under this Agreement, the Agent may borrow Common Shares from stock lenders in the event that the Company Selling Stockholder has not delivered Shares to settle sales as required by subsection (ixv) above, and may use the Shares to settle or close out such borrowings. The Company agrees and the Selling Stockholder agree that no such notice of suspension delivered by the Company or the Selling Stockholder pursuant to this Section 3(b)(vi) shall be effective against the Agent unless it is made to the persons identified in writing by the Agent pursuant to Section 3(b3(b)(i). While a suspension is in effect, any obligation with respect to the delivery of consents, certificates, opinions, or comfort letters to the Agent shall be deemed waived.

Appears in 1 contract

Samples: Open Market Sale Agreement (Carrols Restaurant Group, Inc.)

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