Termination of the Subscription Agreement Sample Clauses

Termination of the Subscription Agreement. 1.1. Upon execution of this Agreement, the Parties hereby agree that the Subscription Agreement shall be terminated and such termination shall be effective as of the Effective Date.
Sample 1Sample 2
AutoNDA by SimpleDocs
Termination of the Subscription Agreement. Each of the parties to the Subscription Agreement, pursuant to Section 9(b) thereof, hereby agree that, as of the date hereof, the Subscription Agreement shall terminate and be void and of no further force and effect, with all rights and obligations of the parties thereunder terminated without any further liability on the part of any such party in respect thereof.
Sample 1Sample 2
Termination of the Subscription Agreement. We refer to the announcement (the “Announcement”) of NVC Lighting Holding Limited (the “Company”) dated 27 June 2017. As disclosed in the Announcement, on 27 June 2017, the Company and the Rising Wealth Limited (as the subscriber) entered into the subscription agreement (the “Subscription Agreement”), pursuant to which, Rising Wealth Limited conditionally agreed to subscribe and the Company conditionally agreed to allot and issue under the General Mandate in aggregate a total of 257,330,000 Shares. Terms used in this announcement shall have the same meanings as defined in the Announcement unless otherwise defined. The Board announces that, the Subscription Agreement has automatically terminated on 27 December 2017 as agreed and the Subscription under the Subscription Agreement will not proceed as the conditions precedent provided in the Subscription Agreement have not been fully satisfied. The Board is of the view that the termination of the Subscription Agreement and the Subscription As at the date of this announcement, the Board consists of the following directors: Executive Directors: XXXX Xxxxxxx XXXX Xxxxxxxx XXXX Xx XXXX Xxxxx Xxx Non-executive Directors: XX Xxxxxxx XX Xxx XXXX Xxxxxxx Independent Non-executive Directors: XXX Kong Xxx, Xxxxxx XXXX Xxxxxxx
Sample 1
Termination of the Subscription Agreement. On 5 July 2024 (after trading hours), Big Wish Global, Big Wish Group Limited and the Target Company entered into an agreement to terminate the Subscription Agreement (the “Termination Agreement”). The Target Company and Big Wish Global agreed that each of them would not make any claims against each other for matters arising out of or in connection with the Subscription Agreement upon the termination of the Subscription Agreement (except for claims arising from any breach of the Subscription Agreement and the terms in relation to the termination of the Subscription Agreement as disclosed below). Pursuant to the Termination Agreement, the Target Company agreed to refund the MOU Deposit to Big Wish Group Limited within seven (7) Business Days from the date of the Termination Agreement and make the following payments to Big Wish Group Limited:
Sample 1
Termination of the Subscription Agreement. As at the date of this announcement and to the best information, knowledge and belief of the Directors, due to NPCC’s internal debt restructuring and possible changes in ownership and management control, NPCC would not be able to complete the Subscriptions and the Possible Offer. On 28 April 2018, the Company served a notice to NPCC and Noble indicating that the Subscription Agreement has been terminated (the “Notice”). At the material time, the Company is advised by its legal advisers that the only best option viable is to serve a termination notice to NPCC in the accordance with the terms of the Subscription Agreement to terminate the Subscription Agreement. The risks associated with the termination notice are set out in the paragraph “Risk Associated with the Termination Notice”. LOAN AGREEMENTS As disclosed in the announcement of the Company dated 30 November 2017, the Company as borrower and NPCC as lender entered into a loan agreement (the “HK$25M Loan Agreement”) in respect of a loan of HK$25,000,000 (the “HK$25M Loan”) at an interest rate of 8% per annum on 27 November 2017. As at the date of this announcement, a total of HK$25,000,000 has been drawn from the HK$25M Loan. The HK$25M Loan Agreement is still subsisting and the HK$25M Loan is required to be repaid on 27 May 2018. In addition, on 28 March 2018, the Company as borrower and Xx. Xx Xxxxxx (“Xx. Xx”) as lender entered into a loan agreement (the “HK$5M Loan Agreement”), pursuant to which Xx. Xx agreed to make available to the Company a loan of HK$5,000,000 (the “HK$5M Loan”) at an interest rate of 8% per annum for a term of three months from the date of drawdown. As at the date of this announcement, a total of approximately HK$2,000,000 has been drawn from the HK$5M Loan and no further drawdowns will be made. The HK$5M Loan Agreement is still subsisting and the amount drawn down from the HK$5M Loan is required to be repaid on 27 June 2018. The Board also wishes to inform its Shareholders that on 4 April 2018 (after trading hours), the Company as borrower and NPCC as lender entered into a further loan agreement (the “HK$30M Loan Agreement”), pursuant to which NPCC was to make available to the Company a loan of HK$30,000,000 at an interest rate of 8% per annum for a term of six months from the date of drawdown. However, no drawdown has been made under this HK$30M Loan Agreement. By the Notice, the Company also terminated the HK$30M Loan Agreement. At the material time, the Company is advised ...
Sample 1
Termination of the Subscription Agreement. As of the Effective Date, the Subscription Agreement is hereby terminated subject to the tem1s and conditions of this Agreement. Each Party hereby waives and relinquishes any and all rights that such Party may have under the Subscription Agreement. The Subscription Agreement shall have no further force or effect from and after the Effective Date, and the rights of Subscriber with respect to the Shares shall terminate.
Sample 1
Termination of the Subscription Agreement. If the conditions specified in paragraph 5 hereof are not satisfied, or if the representations and warranties of The Subscriber contained herein are not true prior to the purchase of the Shares by the Subscriber, and written notice of that fact has been given to the Corporation, then and in any of such events this Subscription Agreement shall be null and void and of no further force, or effect, and neither party shall have any rights against the other party hereunder, this Subscription will be cancelled, and the payment of the subscriber will be returned to The Subscriber.
Sample 1
AutoNDA by SimpleDocs

Related to Termination of the Subscription Agreement

  • Subscription Agreement The Dealer Manager will comply in all material respects with the subscription procedures and “Plan of Distribution” set forth in the Prospectus. Subscriptions will be submitted by the Dealer Manager and each Soliciting Dealer to the Company only on the form which is included as Exhibit B to the Prospectus. The Dealer Manager understands and acknowledges, and each Soliciting Dealer shall acknowledge, that the Subscription Agreement must be executed and initialed by the subscriber as provided for by the Subscription Agreement.

  • Termination of the Agreement In the event of failure by the participant to perform any of the obligations arising from the agreement, and regardless of the consequences provided for under the applicable law, the institution is legally entitled to terminate or cancel the agreement without any further legal formality where no action is taken by the participant within one month of receiving notification by registered letter. If the participant terminates the agreement before its agreement ends or if he/she fails to follow the agreement in accordance with the rules, he/she shall have to refund the amount of the grant already paid, except if agreed differently with the sending organisation. In case of termination by the participant due to "force majeure", i.e. an unforeseeable exceptional situation or event beyond the participant's control and not attributable to error or negligence on his/her part, the participant shall be entitled to receive at least the amount of the grant corresponding to the actual duration of the mobility period. Any remaining funds shall have to be refunded, except if agreed differently with the sending organisation.

Time is Money Join Law Insider Premium to draft better contracts faster.