Examples of Standby Commitment in a sentence
In consideration for the Standby Commitment, Frontera received 5-year warrants to purchase up to 15,009,026 common shares at an exercise price equal to C$0.415 per common share (each a “Warrant”).
These securities were agricultural mortgage loans previously covered under a Long-Term Standby Commitment to Purchase agreement with the Federal Agricultural Mortgage Corporation (Farmer Mac) that were subsequently securitized.
As the rights offering was over-subscribed, the Guarantors were not required to fulfill their respective obligations under the Standby Commitment.
Since the Offering was oversubscribed, Frontera did not acquire any additional shares under the Standby Commitment.
As the 2015 Rights Offering was over-subscribed, the 2015 Guarantors were not required to fulfill their respective obligations under the 2015 Standby Commitment.