Use of funds before and after Acceptance. The Company agrees that the Subscription Price will be held by the Company or by the Company’s Counsel for the benefit of the Subscriber to reserve the Subscriber’s subscription and, prior to Acceptance, such funds shall not be considered a loan and shall not bear interest but shall constitute solely a reservation of subscription. The Subscriber shall not demand return of its Subscription Price monies unless the 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 Units or return of funds at the Company’s sole and absolute discretion. The Subscriber acknowledges that the funds to be raised from all 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 (Zoro Mining Corp.), Private Placement Subscription Agreement (Pulse Beverage Corp), Private Placement Subscription Agreement (Pulse Beverage Corp)
Use of funds before and after Acceptance. The Company agrees that the Subscription Price will be held by the Company or by the Company’s Counsel for the benefit of the Subscriber to reserve the Subscriber’s subscription and, prior to Acceptance, such funds shall not be considered a loan and shall not bear interest but shall constitute solely a reservation of subscription. The Subscriber shall not demand return of its Subscription Price monies unless the Units Post-split 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 Units Post-split Shares or return of funds at the Company’s sole and absolute discretion. The Subscriber acknowledges that the funds to be raised from all Units Post-split 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 2 contracts
Samples: Private Placement Subscription Agreement (Pulse Beverage Corp), Private Placement Subscription Agreement (Darlington Mines Ltd.)
Use of funds before and after Acceptance. The Company agrees that the Subscription Price will subscription monies shall be held by the Company or by advanced immediately to the Company’s Counsel for the benefit of the Subscriber general fund to reserve the Subscriber’s subscription andsubscription, prior to Acceptance, such funds shall not be considered a loan held in trust, may be employed by the Company for its business purposes immediately and shall not bear interest but prior to acceptance and shall constitute solely a reservation of subscriptionsubscription and advance of funds therefore. The Subscriber shall not demand return of its Subscription Price monies subscription unless the Units Shares and Warrants have not been issued for a period in excess of 90 calendar days one year from the date of this subscription and such demand may be fulfilled by Acceptance acceptance and delivery of subscribed Units Shares and Warrants or return of funds funds, at the sole discretion of the Company’s sole and absolute discretion. The Subscriber acknowledges that the funds to be raised from all the 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 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 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 (Magnus International Resources, Inc.)