Purchase Funds definition
Examples of Purchase Funds in a sentence
Should you have insufficient Purchase Funds in the bank or other account that serves as the funding source for the purchase of securities in your Program Account (“Funding Account”), the bank or other financial institution that maintains this Funding Account (“Funding Bank”) may request the return of all or a portion of these Purchase Funds (a so-called “Clawback”).
Upon the Escrow Agent being in possession of less than 1,000,000 shares in Purchase Funds and more than 270 days having elapsed from the effective date of the Prospectus.
The Company shall cause the Shareholders to deliver the Purchase Funds delivered pursuant to the Subscriptions for the Issuance Shares to the Escrow Agent to be held in accordance with the terms of this Agreement.
If the Escrow Agent does not receive the instructions referred to in subsection 5.3 on or before the Resignation Date, the Escrow Agent will deliver any Purchase Funds then held in escrow under this Agreement to the registrar and transfer agent for the Company (if such person is not the Escrow Agent) with instructions to hold such documents on the terms and conditions of this Agreement.
All Purchase Funds released by the Escrow Agent pursuant to the terms of this Agreement will cease to be governed or affected by this Agreement.