Forward Purchaser definition
Examples of Forward Purchaser in a sentence
If the U.S. dollars so purchased are greater than the sum originally due to such Underwriter or Forward Purchaser hereunder, such Underwriter or Forward Purchaser agrees to pay to the Company an amount equal to the excess of the U.S. dollars so purchased over the sum originally due to such Underwriter or Forward Purchaser hereunder.
If a Forward Purchaser elects, pursuant to the preceding paragraph not to borrow and deliver for sale to the Underwriters at the Closing Date or any Option Closing Time, as the case may be, the total number of Borrowed Shares to be sold by it hereunder, such Forward Purchaser will use its commercially reasonable efforts to notify the Company no later than 5:00 p.m., New York City time, on the business day prior to the Closing Date or such Option Closing Time.
To the extent the Additional Shares are delivered in certificated form and not in book-entry form through the facilities of DTC, the Forward Purchaser (with respect to the Borrowed Additional Shares) or the Company (with respect to any Company Additional Shares) will cause the certificates representing the Additional Shares to be made available for checking and packaging at least 24 hours prior to the Option Closing Time with respect thereto at the Designated Office.
In acting hereunder, such Forward Seller will be acting as agent for such Forward Purchaser and not as principal.
Each Forward Purchaser’s obligations extend solely to the respective number of Borrowed Firm Shares set forth opposite the name of such Forward Purchaser in Schedule I under the heading “Number of Borrowed Firm Shares To Be Sold”, in each case, at the Purchase Price.