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

Use of funds before and after Acceptance. The subscription monies shall be advanced immediately to the Company’s general fund to reserve the Subscriber’s subscription, shall not be held in trust, may be employed by the Company for its business purposes immediately and prior to acceptance and shall constitute solely a reservation of subscription and advance of funds therefore. The Subscriber shall not demand return of its subscription unless the Shares have not been issued for a period in excess of six months 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 sole discretion of the Company. The Subscriber acknowledges that the funds to be raised from the 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 plan. 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 plan 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 6 contracts

Samples: Subscription Agreement (Weyland Tech, Inc.), Seratosa Inc., Subscription Agreement (Sinobiomed Inc)

AutoNDA by SimpleDocs

Use of funds before and after Acceptance. The subscription monies shall be advanced immediately to the Company’s 's general fund to reserve the Subscriber’s 's subscription, shall not be held in trust, may be employed by the Company for its business purposes immediately and prior to acceptance and shall constitute solely a reservation of subscription and advance of funds therefore. The Subscriber shall not demand return of its subscription unless the Shares have not been issued for a period in excess of six months one year 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 sole discretion of the Company. The Subscriber acknowledges that the funds to be raised from 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 plan. 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 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: Private Placement Subscription Agreement (Black Hawk Exploration)

AutoNDA by SimpleDocs

Use of funds before and after Acceptance. The subscription monies shall be advanced immediately to the Company’s general fund to reserve the Subscriber’s subscription, shall not be held in trust, may be employed by the Company for its business purposes immediately and prior to acceptance and shall constitute solely a reservation of subscription and advance of funds therefore. The Subscriber shall not demand return of its subscription unless the Shares have not been issued for a period in excess of six months one year 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 sole discretion of the Company. The Subscriber acknowledges that the funds to be raised from the 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 plan. 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 plan 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: Subscription Agreement (TechMedia Advertising, Inc.)

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