Underwriting Proportion definition
Examples of Underwriting Proportion in a sentence
The Underwriting Proportion referred to in clause 9.2(a) for each Stage during which the Funding User is a Participating Funding User is determined in accordance with the following formula: Underwriting Proportion = A 100 B 1 Where in respect of each Stage: A is the Funding User’s Capacity Request; and B is the Capacity Increment.
Within 14 days after the costs of a Stage which have been partly or wholly funded by the Funding User have been included in the regulatory asset base, QR will be required to refund to the Funding User the Funding User’s Underwriting Proportion of the costs included in the regulatory asset base, plus interest calculated at the agreed rate (unless otherwise agreed by users to be incorporated into the calculation of costs under the Construction Agreement).
Without prejudice to the above, in the event that the Joint Global Coordinators (excluding BANCO SANTANDER) have not received the aggregate Subscription Price relating to the Discretionary Allocation Shares on the Settlement Date, each Underwriter undertakes to pay to the Joint Global Coordinators (excluding BANCO SANTANDER), on the Settlement Date, the amount of the aggregate Subscription Price corresponding to such Underwriter’s Underwriting Proportion.