Rebate Shares definition

Rebate Shares means as of the Test Date, the number of PubCo Class B Ordinary Shares equal to the excess (if any) of the number of Remaining Support Shares over the number of Base Sponsor Shares, provided, however, that if there is no such excess, then there shall be no Rebate Shares;

Rebate Shares means shares issued to a User which entitles that User (but not an Energy Trader) to a rebate in respect of Services.

Rebate Shares means the Shares referred to in clauses 3.5(a)(i) and 3.5(b).

Examples of Rebate Shares in a sentence

• On a shareholder ceasing to enter into direct or indirect (through an energy retailer) transactions with EAL the Rebate Shares held are surrendered by EAL at the lesser of $1.00 per share or the amount paid up on those shares.Fees or charges payableThere is no liability to pay further charges or make additional payments on the shares being offered.

• All shareholders holding rebate shares are restricted to 100 Rebate Shares.

• IssuerElectricity Ashburton LimitedDescription of Rebate Shares being offeredThe Rebates Shares are only available to persons who become connected to a network owned by EAL or obtain services from EAL.

• Payment of Basic amount will be made within 30 days after receipt of acceptable supplies without any damage/ short supplies or from submission of bills whichever is later.

• This is an offer of Rebate Shares in Electricity Ashburton Limited (EAL).

• The Rebate Shares are offered to give ownership rights to those persons who contract services, directly and indirectly, with EAL and the share capital raised is secondary to this purpose.

• If you apply for Rebate Shares you will be asked to provide personal information to EAL, the Share Registrar, and their respective agents who will collect and hold the personal information provided by you in connection with your Application.

• The Ashburton District Council holds non- voting shares so the Rebate Shares represented approximately 5% of the total shares on issue.Each person (which includes individuals, companies and other legal entities) connected to the EAL network can apply for 100 Rebate Shares which are issued for $1.00 each.DistributionsEAL annually discloses the consumer discount pool in advance of the start of each financial year.

• The purpose of the Offer is to enable persons connecting to the electricity network (network) operated by EAL, and who obtain services directly and indirectly from EAL, to hold Rebate Shares in EAL that entitle the holder to share in any distributions made, or consumer discounts provided, by EAL.

• The Board may issue Rebate Shares and other Shares to an Industry Trust subject to the following provisions.