Securities Issuance Option definition

Securities Issuance Option means Company's option to obligate Option Writers to purchase up to 4,000,000 Preferred Shares, subject to the terms and conditions set forth in this Agreement.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Securities Issuance Option means Trenwick's option to obligate Option Writer to purchase up to 550,000 Preferred Shares, subject to the terms and conditions set forth in this Agreement.

Securities Issuance Option means HM's option to obligate Option Writer to purchase Preferred Shares with an Original Value of up to US$75,000,000, subject to the terms and conditions set forth in this Agreement.

Examples of Securities Issuance Option in a sentence

Such Notice of Objection shall specify in reasonable detail the reason(s) for Option Writer's objection to the exercise of the Securities Issuance Option.
The Securities Issuance Option must be exercised with respect to Preferred Shares having a minimum aggregate Preferred Share Purchase Price of US$10,000,000 or an integral multiple of US$1,000,000 above such amount.
In no case shall the Securities Issuance Option be exercised more than one time in any calendar quarter.
This Agreement (including the Exhibits and the Schedules) contains the entire agreement between the parties, and supersedes all prior agreements, written or oral, with respect to the Securities Issuance Option.
The second or any subsequent exercise of the Securities Issuance Option must be made with respect to a number of Preferred Shares having a minimum aggregate Original Value of US$5,000,000, and may only be made in integral multiples of US$1,000,000 above such minimum amount.
With respect to the first exercise of the Securities Issuance Option only, Option Writers shall have received, from special counsel for Company, an opinion of counsel, dated on or about the Exercise Date, which is substantially in the form attached as Exhibit 5.2(g).
If all or any portion of the Securities Issuance Option remains unexercised, this Agreement shall automatically be terminated in accordance with Section 7.2 unless such Change of Control shall have received the prior approval of Option Writer.
In the event of the issuance of Preferred Shares pursuant to an exercise of the Securities Issuance Option, such Preferred Shares shall be subject to, and governed by, the provisions of the Certificate of Designation and the Bye-Laws of Trenwick.
In consideration of the payment of the Option Fee as may be required under this Agreement, Option Writers hereby grant to Company the right to exercise the Securities Issuance Option on the terms set forth in this Agreement.
If, within twenty (20) days following delivery of the Notice of Objection to HM, HM and Option Writer cannot reach an agreement regarding the exercise of the Securities Issuance Option, their dispute shall be submitted to dispute resolution in accordance with Article 8 below.

More Definitions of Securities Issuance Option

Securities Issuance Option means HM's option to obligate Option Writer to purchase Preferred Shares with an Original Value of up to US$100,000,000, subject to the terms and conditions set forth in this Agreement (provided, however, that up to an additional US$50,000,000 of Preferred Shares, valued at Original Value, which are issued but subsequently redeemed by HM shall be reincluded in the Preferred Shares subject to the Securities Issuance Option as provided in Section 6.1, and provided, further, that in no event shall Option Writer be required to (a) purchase, in the aggregate, more than US$150,000,000 of Preferred Shares valued at Original Value, or (b) hold at any one time more than US$100,000,000, in the aggregate, of Preferred Shares valued at Original Value and HM Common Stock into which the Preferred Shares may have been converted, valued at the conversion rate).