Maximum Subscription Price definition
Examples of Maximum Subscription Price in a sentence
If the subscribing Benefit Plan is an employee stock ownership plan, it may pay on or prior to the Effective Date only if it has received a loan commitment from the Company or a source of funding acceptable to the Company, committing to advance to the Benefit Plan on or before the Effective Date the aggregated Maximum Subscription Price of the shares for which the Benefit Plan subscribed.
In case the Investor invests less then the Maximum Subscription Price, the calculation will be “pro-rata” to the actual investment made by the Investor.
At the Closing upon which ACCBT shall have invested $4,250,000 in the aggregate, ACCBT shall be issued Warrants to purchase an additional 4,537,500 Common Shares in consideration for $0.29 per share and upon completion of the investments by ACCBT hereunder up to the Maximum Subscription Price, ACCBT shall be issued with Warrants to purchase an additional 4,537,500 Common Shares in consideration for $0.29 per share.
Notwithstanding the foregoing, with respect to any payment, ACCBT shall have the right, to not make the next scheduled or any further payments on account of the Maximum Subscription Price (and, accordingly, the Company will not be required to issue any further Subscription Shares and Warrants), without incurring any liability in the event that following the date hereof the price per share of the Company as of the closing on any 5 consecutive trading days shall decrease to $0.05 (five cents).
ACCBT shall invest the remaining amount up to the Maximum Subscription Price (i.e. $947,347) at a Price Per Share of $0.12, in monthly installments of not less than $50,000 (and the last payment up to the Maximum Subscription Price) at Closings to be held monthly starting on August 1, 2009.