Demand Qualification Clause Samples
The Demand Qualification clause defines the criteria or conditions that a demand must meet to be considered valid under an agreement. Typically, this clause outlines the specific information, documentation, or procedural steps required when making a demand, such as providing written notice, supporting evidence, or meeting certain deadlines. By setting clear standards for what constitutes a proper demand, this clause helps prevent disputes over incomplete or improper requests and ensures that both parties understand the requirements for initiating claims or actions under the contract.
Demand Qualification. Subject to the limits set out in Sections 4.2 and 4.3, if the Corporation receives a written request from an IQ Party that the Corporation file a prospectus under Canadian Securities Laws qualifying for distribution of all or any portion of the Qualifiable Securities, the Corporation will, subject to an Underwriter’s Cutback and provided that the proposed sale of such Qualifiable Securities would be a Control Distribution, as soon as practicable and in any event within sixty (60) days following the date of receipt of the written request referred above, prepare and file in the Qualifying Jurisdictions a prospectus in order to qualify the distribution of all of the Qualifiable Securities of the IQ Parties specified in their respective requests and use its reasonable best efforts to receive a final receipt or equivalent document in respect of such prospectus. The IQ Parties will not initiate a request for a Demand Qualification within ninety (90) days of the Receipt Date in respect of a prospectus qualifying an offering of Shares by the Corporation, provided that the IQ Parties were provided with the opportunity to participate in a Piggy-Back Qualification in accordance with this Agreement in connection with such offering without significant Underwriter’s Cutback.
Demand Qualification. Subject to the limits set out in Sections 4.2 and 4.4, if the Corporation receives a written request from an Investor that the Corporation file a prospectus under Canadian Securities Laws qualifying for distribution all or any portion of such Investor’s Qualifiable Securities, the Corporation will, subject to an Underwriter’s Cutback and provided that the proposed sale of such Qualifiable Securities would be a Control Distribution (a “Demand Qualification”), as soon as practicable and in any event within sixty (60) days following the date of receipt of the written request referred above, prepare and file in the Qualifying Jurisdictions a prospectus in order to qualify the distribution of all of the Qualifiable Securities of such Investor(s) specified in their respective requests and use its reasonable best efforts to receive a final receipt or equivalent document in respect of such prospectus. The Investors will not initiate a request for a Demand Qualification within ninety (90) days of the Receipt Date in respect of a prospectus qualifying an offering of Shares by the Corporation, provided that the Investors were provided with the opportunity to participate in a Piggy-Back Qualification in accordance with this Agreement in connection with such offering without a material Underwriter’s Cutback.
Demand Qualification. Subject to the limits set out in Sections 4.3 and 4.4, if the Company receives a written request from an A&P Party that the Company file a prospectus under Canadian Securities Laws qualifying for distribution of all or any portion of the Qualifiable Securities, the Company will, subject to the Underwriter's Cutback, as soon as practicable and in any event within 90 days following the date of receipt of the written request referred above, prepare and file in the Qualifying Jurisdictions a prospectus in order to qualify the distribution of all of the Qualifiable Securities of the A&P Parties specified in their respective requests and use its reasonable best efforts to receive a final receipt or equivalent document in respect of such prospectus. The A&P Parties will not initiate a request for a Demand Qualification within one hundred and twenty (120) days of the Receipt Date in respect of a prospectus qualifying an offering of Shares by the Company, provided that the A&P Parties were provided with the opportunity to participate in a Piggy-Back Qualification in accordance with this Agreement in connection with such offering.
Demand Qualification. At any time after the Closing Date (as defined in the Purchase Agreement), upon the written request of Investors (as defined below) holding at least an aggregate of twenty-five percent (25%) of the Qualifiable Shares (as defined below) then outstanding (the "Requesting Holders"), the Company shall use its reasonable best efforts to prepare and file, or to cause to be prepared and filed, all necessary documents, including a prospectus, for one or more equity securities offerings under Applicable Securities Laws in some or all of the provinces or territories of Canada (or federally, if applicable) in which the Company is a "reporting issuer" under the Applicable Securities Laws of such provinces or territories other than the Province of Quebec (for the purposes of this Section 1, the "Qualification Provinces") of all or any portion (as required by the Requesting Holders) of the Qualifiable Shares held by the Requesting Holders having an aggregate offering or sale price of at least US$5,000,000 (a "Demand Qualification"). The Company shall not be required to effect more than three Demand Qualifications or Demand Registrations (as defined in the United States registration rights agreement entered into on the date hereof (the "US Registration Rights Agreement")) in the aggregate; provided, however, that in the event the Purchaser acquires Warrant Shares upon the exercise of Warrants (as defined in the Purchase Agreement) within thirty (30) days following a request by the Company that the Purchaser exercise Warrants, the Purchaser may make a request for a demand qualification of some or all of the Warrant Shares so acquired (notwithstanding that such Warrant Shares may have an aggregate offering or sale price of less than US$5,000,000), and such demand qualification will not count as one of the three Demand Qualifications or Demand Registrations (as defined in the US Registration Rights Agreement) otherwise allowed by this Agreement or the US Registration Rights Agreement.
a. For the purposes of this Agreement, "Applicable Securities Laws" of a province or territory of Canada or federally, if applicable, means, all applicable securities laws in such jurisdiction and the respective regulations and rules under such laws together with applicable published policy statements, notices and orders of the Securities Commission in such jurisdiction as well as the applicable by-laws, rules and regulations of any stock exchange on which the common shares in the capital of t...
Demand Qualification