E-Pub Securities Clause Samples

E-Pub Securities. 16.1 Issuance of Shares by E-Pub. PTV Inc. hereby subscribes for 50,000 shares ("▇▇▇▇▇▇▇'▇ Securities") of E-Pub Stock (as such term is defined in Section 16.7 hereof). ▇▇▇▇▇▇▇'▇ Securities shall be issued in the form of one or more Global Instrument Certificates (each a "Global Certificate") by the Austrian Central Bank (the "Central Bank"), and delivered to a banking institution, brokerage firm or other custodian authorized to hold such securities under Austrian law which shall be appointed by PTV Inc. to hold such shares for PTV Inc.'s benefit (the "Custodian"). Such delivery shall be made on, or as close to as reasonably possible, the Effective Date of this Agreement but in no event later than January 30, 1999, and PTV Inc. agrees to pay against delivery of the Global Certificates representing the Pearson Securities, as follows: (a) on the date of delivery of one or more Global Certificates issued by the Central Bank to the Custodian in the aggregate amount of 500 shares of ▇▇▇▇▇▇▇'▇ Securities, PTV Inc. shall pay to E-Pub in consideration therefor the US Dollar equivalent of 1,500,000 Austrian Schillings (the dollar value of which shall be determined according to the applicable daily foreign exchange rates set forth in the Wall Street Journal on the Effective Date); and (b) on or about January 30, 1999, in consideration for the rights granted under Sections 8.1(a) through 8.1(f) to E-Pub hereunder, E-Pub shall cause the Central Bank to deliver to the Custodian one or more Global Certificates in the aggregate amount of 49,500 shares of ▇▇▇▇▇▇▇'▇ Securities.