Minimum Subscription Amount definition
Examples of Minimum Subscription Amount in a sentence
The Depositor and the Issuer agree to notify the Escrow Agent in writing of the closing date of the offering (the "Offering Closing Date") and whether or not the Issuer received subscriptions for the Minimum Subscription Amount.
Subject to the terms and conditions hereof, payment of the purchase price for, and delivery of, the Offered Securities shall be made at one or more closings (each, a “Closing” and the date on which a Closing occurs, a “Closing Date”) or Option Closing Date (as defined below), as the case may be, provided, however that the first Closing (the “Initial Closing”) may not be for Offered Securities of less than the Minimum Subscription Amount.
Mango Pay will hold all such payments in escrow until the Minimum Subscription Amount is reached.
On reaching the Minimum Subscription Amount, U Own will circulate an email to relevant Investors giving notice that the Minimum Subscription Amount has been achieved, the Investment Opportunity will proceed as set out in the Proposal, and that the Principal Sum will be transferred to the Property Company.
Prior to the satisfaction of the Minimum Subscription Amount, the monies in such escrow shall remain the property of the subscribers but shall not be subject to withdrawal by the subscribers prior to the Impound Date.