Common use of Use of funds before and after Acceptance Clause in Contracts

Use of funds before and after Acceptance. The Subscriber acknowledges and agrees that the Subscription Price monies shall be advanced immediately to the Company's general funds to reserve the Subscriber's subscription, shall not be held in trust, the Company may employ such funds for its business purposes immediately and prior to Acceptance and such funds shall not be considered a loan and shall not bear interest but shall constitute solely a reservation of subscription and advance of funds therefore. The Subscriber shall not demand return of its Subscription Price monies unless the Shares have not been issued for a period in excess of 90 calendar days from the date of this subscription and such demand may be fulfilled by Acceptance and delivery of subscribed Shares or return of funds at the Company's sole and absolute discretion. The Subscriber acknowledges that the funds to be raised from all Shares are to be employed for the business of the Company in accordance with management's determination as to the best use of the same for the Company's business plans. Notwithstanding any disclosure document or offering memorandum or prospectus provided concurrent with this subscription, the Company reserves the right at any time to alter its business plans in accordance with management's appreciation of the market for the goods and services of the Company and the best use of the Company's funds to advance its business, whether present or future.

Appears in 9 contracts

Samples: Subscription Agreement (I-Level Media Group Inc), Subscription Agreement (Bear River Resources, Inc.), Mar Ked Mineral Exploration, Inc.

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Use of funds before and after Acceptance. The Subscriber acknowledges and agrees that the Subscription Price monies shall be advanced immediately to the Company's general funds to reserve the Subscriber's subscription, shall not be held in trust, the Company may employ such funds for its business purposes immediately and prior to Acceptance and such funds shall not be considered a loan and shall not bear interest but shall constitute solely a reservation of subscription and advance of funds therefore. The Subscriber shall not demand return of its Subscription Price monies unless the Shares Units have not been issued for a period in excess of 90 calendar days from the date of this subscription and such demand may be fulfilled by Acceptance and delivery of subscribed Shares Units or return of funds at the Company's sole and absolute discretion. The Subscriber acknowledges that the funds to be raised from all Shares Units are to be employed for the business of the Company in accordance with management's determination as to the best use of the same for the Company's business plans. Notwithstanding any disclosure document or offering memorandum or prospectus provided concurrent with this subscription, the Company reserves the right at any time to alter its business plans in accordance with management's appreciation of the market for the goods and services of the Company and the best use of the Company's funds to advance its business, whether present or future.

Appears in 5 contracts

Samples: Subscription Agreement (Shimmer Gold, Inc.), Subscription Agreement (Harborside Ventures, Inc.), Private Placement Subscription Agreement (Power Air Corp)

Use of funds before and after Acceptance. The Subscriber acknowledges and agrees that the Subscription Price monies shall be advanced immediately to the Company's ’s general funds to reserve the Subscriber's ’s subscription, shall not be held in trust, the Company may employ such funds for its business purposes immediately and prior to Acceptance and such funds shall not be considered a loan and shall not bear interest but shall constitute solely a reservation of subscription and advance of funds therefore. The Subscriber shall not demand return of its Subscription Price monies unless the Shares have not been issued for a period in excess of 90 calendar days from the date of this subscription and such demand may be fulfilled by Acceptance and delivery of subscribed Shares or return of funds at the Company's ’s sole and absolute discretion. The Subscriber acknowledges that the funds to be raised from all Shares are to be employed for the business of the Company in accordance with management's ’s determination as to the best use of the same for the Company's ’s business plans. Notwithstanding any disclosure document or offering memorandum or prospectus provided concurrent with this subscription, the Company reserves the right at any time to alter its business plans in accordance with management's ’s appreciation of the market for the goods and services of the Company and the best use of the Company's ’s funds to advance its business, whether present or future.

Appears in 5 contracts

Samples: Subscription Agreement (Rostock Ventures Corp), Subscription Agreement (Powrtec Corp), Subscription Agreement (Pacific Blue Energy Corp.)

Use of funds before and after Acceptance. The Subscriber acknowledges and agrees that the Subscription Price monies shall be advanced immediately to the Company's general funds to reserve the Subscriber's subscription, shall not be held in trust, the Company may employ such funds for its business purposes immediately and prior to Acceptance and such funds shall not be considered a loan and shall not bear interest but shall constitute solely a reservation of subscription and advance of funds therefore. The Subscriber shall not demand return of its Subscription Price monies unless the Shares post-Forward Split Units have not been issued for a period in excess of 90 calendar days from the date of this subscription and such demand may be fulfilled by Acceptance and delivery of subscribed Shares post-Forward Split Units or return of funds at the Company's sole and absolute discretion. The Subscriber acknowledges that the funds to be raised from all Shares post-Forward Split Units are to be employed for the business of the Company in accordance with management's determination as to the best use of the same for the Company's business plans. Notwithstanding any disclosure document or offering memorandum or prospectus provided concurrent with this subscription, the Company reserves the right at any time to alter its business plans in accordance with management's appreciation of the market for the goods and services of the Company and the best use of the Company's funds to advance its business, whether present or future.

Appears in 1 contract

Samples: Private Placement Subscription Agreement (I-Level Media Group Inc)

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Use of funds before and after Acceptance. The Subscriber acknowledges and agrees that the Subscription Price subscription monies shall be advanced immediately to the Company's ’s general funds fund to reserve the Subscriber's ’s subscription, shall not be held in trust, may be employed by the Company may employ such funds for its business purposes immediately and prior to Acceptance and such funds shall not be considered a loan and shall not bear interest but acceptance, shall constitute solely a reservation of subscription and advance of funds thereforetherefore and until the certificates representing the Shares are issued and delivered shall constitute an interest free loan to the Company. The Subscriber shall not demand return of its Subscription Price monies subscription unless the Shares have not been issued for a period in excess of 90 calendar days six months from the date of this subscription and such demand may be fulfilled by Acceptance acceptance and delivery of subscribed Shares or return of funds without interest or deduction, at the sole discretion of the Company's sole and absolute discretion. The Subscriber acknowledges that the funds to be raised from all the Shares are to be employed for the business of the Company in accordance with management's ’s determination as to the best use of the same for the Company's ’s business plansplan. Notwithstanding any disclosure document or offering memorandum or prospectus provided concurrent with this subscription, the Company reserves the right at any time to alter its business plans plan in accordance with management's ’s appreciation of the market for the goods and services of the Company and the best use of the Company's ’s funds to advance its business, whether present or future.

Appears in 1 contract

Samples: Subscription Agreement (Hubei Minkang Pharmaceutical Ltd.)

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