Common use of The First Closing Date in respect of the Offered Shares Clause in Contracts

The First Closing Date in respect of the Offered Shares. Payment of the Offering Price for the Offered Shares shall be made to the Company and the Selling Shareholder, respectively, as the case may be, by wire transfer against delivery of certificates for the Offered Shares to the Lead Underwriters on behalf of the Underwriters through the facilities of The Depository Trust Company (“DTC”) for the respective accounts of the Underwriters, as applicable. Such payment and delivery shall be made at 1:00 p.m., Toronto time, on November 24, 2010 (the “First Closing Date”) (unless another time shall be agreed to by the Lead Underwriters and the Company or unless postponed in accordance with the provisions of Section 10 hereof). Electronic transfer of the Offered Shares shall be made to the Lead Underwriters at the First Closing Date in such names and in such denominations as specified by the Lead Underwriters on behalf of the Underwriters. It is understood that the Lead Underwriters have been authorized, for their own account and the accounts of the non-defaulting Underwriters, to accept delivery of and receipt for, and make payment of the Offering Price for, the Offered Shares and any Additional Shares the Underwriters have agreed to purchase (subject to such adjustment as the Lead Underwriters may determine to eliminate fractional shares and subject to adjustment in accordance with Section 10 hereof). The Lead Underwriters, individually and not as the Lead Underwriters of the Underwriters, may (but shall not be obligated to) make payment for any Shares to be purchased by any Underwriter whose funds shall not have been received by the Lead Underwriters by the First Closing Date or the applicable Option Closing Date (as defined in Section 2(4)), as the case may be, for the account of such Underwriter, but any such payment shall not relieve such Underwriter from any of its obligations under this Agreement.

Appears in 1 contract

Samples: Underwriting Agreement (IMRIS Inc.)

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The First Closing Date in respect of the Offered Shares. Payment of the Offering Price for the Offered Shares shall be made to the Company and each of the Selling ShareholderShareholders, respectively, as the case may be, by wire transfer against delivery of certificates for the Offered Shares to the Lead Underwriters on behalf of the Underwriters through the facilities of The Depository Trust Company (“DTC”) for the respective accounts of the Underwriters, as applicable. Such payment and delivery shall be made at 1:00 p.m.[8:00 a.m., Toronto Ottawa time, on November 24October 20, 2010 2009] (the “First Closing Date”) (unless another time shall be agreed to by the Lead Underwriters and the Company or unless postponed in accordance with the provisions of Section 10 hereof). Electronic transfer of the Offered Shares shall be made to the Lead Underwriters at the First Closing Date in such names and in such denominations as specified by the Lead Underwriters on behalf of the Underwriters. It is understood that the Lead Underwriters have been authorized, for their own account and the accounts of the non-defaulting Underwriters, to accept delivery of and receipt for, and make payment of the Offering Price for, the Offered Shares and any Additional Shares the Underwriters have agreed to purchase (subject to such adjustment as the Lead Underwriters may determine to eliminate fractional shares and subject to adjustment in accordance with Section 10 hereof). The Lead Underwriters, individually and not as the Lead Underwriters of the Underwriters, may (but shall not be obligated to) make payment for any Shares to be purchased by any Underwriter whose funds shall not have been received by the Lead Underwriters by the First Closing Date or the applicable Option Closing Date (as defined in Section 2(4)), as the case may be, for the account of such Underwriter, but any such payment shall not relieve such Underwriter from any of its obligations under this Agreement.

Appears in 1 contract

Samples: Underwriting Agreement (Dragonwave Inc)

The First Closing Date in respect of the Offered Shares. Payment of the Offering Price for the Offered Shares shall be made to the Company and the Selling Shareholder, respectively, as the case may be, by wire transfer against delivery of certificates for the Offered Shares to the Lead Underwriters on behalf of the Underwriters through the facilities of CDS Clearing and Depositary Services Inc. (“CDS”) and/or The Depository Trust Company (“DTC”) for the respective accounts of the Underwriters, as applicable. Such payment and delivery shall be made at 1:00 p.m.8:00 a.m., Toronto time, on November 24March 18, 2010 2013 (the “First Closing Date”) (unless another time shall be agreed to by the Lead Underwriters and the Company or unless postponed in accordance with the provisions of Section 10 9 hereof). Electronic transfer of the Offered Shares shall be made to the Lead Underwriters at the First Closing Date in such names and in such denominations as specified by the Lead Underwriters on behalf of the Underwriters. It is understood that the Lead Underwriters have been authorized, for their own account and the accounts of the non-defaulting Underwriters, to accept delivery of and receipt for, and make payment of the Offering Price for, the Offered Shares and any Additional Shares the Underwriters have agreed to purchase (subject to such adjustment as the Lead Underwriters may determine to eliminate fractional shares and subject to adjustment in accordance with Section 10 9 hereof). The Lead Underwriters, individually and not as the Lead Underwriters of the Underwriters, may (but shall not be obligated to) make payment for any Shares to be purchased by any Underwriter whose funds shall not have been received by the Lead Underwriters by the First Closing Date or the applicable Option Closing Date (as defined in Section 2(4)), as the case may be, for the account of such Underwriter, but any such payment shall not relieve such Underwriter from any of its obligations under this Agreement.

Appears in 1 contract

Samples: Underwriting Agreement (IMRIS Inc.)

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The First Closing Date in respect of the Offered Shares. Payment of the Offering Price for the Offered Shares shall be made to the Company and each of the Selling ShareholderShareholders, respectively, as the case may be, by wire transfer against delivery of certificates for the Offered Shares to the Lead Underwriters on behalf of the Underwriters through the facilities of The Depository Trust Company (“DTC”) for the respective accounts of the Underwriters, as applicable. Such payment and delivery shall be made at 1:00 p.m.[8:00 a.m., Toronto Winnipeg time, on November 24·, 2010 2010] (the “First Closing Date”) (unless another time shall be agreed to by the Lead Underwriters and the Company or unless postponed in accordance with the provisions of Section 10 hereof). Electronic transfer of the Offered Shares shall be made to the Lead Underwriters at the First Closing Date in such names and in such denominations as specified by the Lead Underwriters on behalf of the Underwriters. It is understood that the Lead Underwriters have been authorized, for their own account and the accounts of the non-defaulting Underwriters, to accept delivery of and receipt for, and make payment of the Offering Price for, the Offered Shares and any Additional Shares the Underwriters have agreed to purchase (subject to such adjustment as the Lead Underwriters may determine to eliminate fractional shares and subject to adjustment in accordance with Section 10 hereof). The Lead Underwriters, individually and not as the Lead Underwriters of the Underwriters, may (but shall not be obligated to) make payment for any Shares to be purchased by any Underwriter whose funds shall not have been received by the Lead Underwriters by the First Closing Date or the applicable Option Closing Date (as defined in Section 2(4)), as the case may be, for the account of such Underwriter, but any such payment shall not relieve such Underwriter from any of its obligations under this Agreement.

Appears in 1 contract

Samples: Underwriting Agreement (IMRIS Inc.)

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