Par Value Payment Clause Samples
The Par Value Payment clause establishes the obligation to pay the face value, or nominal value, of a financial instrument, such as a bond or share, upon maturity or redemption. In practice, this means that the issuer must return the original principal amount to the holder, regardless of any fluctuations in market value during the life of the instrument. This clause ensures that investors are guaranteed repayment of their initial investment, thereby providing certainty and reducing risk associated with potential losses from market volatility.
Par Value Payment. Company and Dealer each acknowledges and agrees that, by paying the Premium hereunder to Company, on the Premium Payment Date Dealer will have made a payment for purposes of paying up the aggregate par value of the Shares issuable pursuant to the Transaction (for the avoidance of doubt, prior to any subsequent adjustment to the Transaction), equal to EUR 364,110 (the “Initial Par Value Payment”). Upon receipt, the Company shall reserve the Initial Par Value Payment and apply the Initial Par Value Payment against the obligation to pay-up the Shares upon issue of the Shares. To the extent that the Initial Par Value Payment exceeds the aggregate nominal value of the Shares issued, then such excess shall be regarded as share premium. Company acknowledges and agrees that such Initial Par Value Payment constitutes, based on the par value per Share as of the date hereof, a payment (volstorting) of the par value of the Shares sufficient under Dutch law to give effect to the issuance by Company to Dealer of a number of Shares equal to the Maximum Number of Shares. (for the avoidance of doubt, prior to any subsequent adjustment to the Transaction). Company represents and warrants to, and acknowledges and agrees with, Dealer that Company has not taken, and will not take or permit to be taken, any action that would result in the Maximum Number of Shares (subject to adjustment as set forth herein) exceeding the Par Value Delivery Number, and in no event will such an excess occur prior to final settlement, payment or delivery in full of Company’s obligations to Dealer hereunder. In addition, it shall constitute a Potential Adjustment Event if on any day during the period from and including the Trade Date, to and including the final Expiration Date, Company or its controlled affiliates make a public announcement of any transaction or event, or any previously announced transaction or event, that, in the reasonable opinion of Dealer would, upon consummation of such transaction or upon the occurrence of such event, as applicable, and after giving effect to any applicable adjustments hereunder, cause the Maximum Number of Shares (subject to adjustment as set forth herein) to exceed the Par Value Delivery Number. Company will promptly notify Dealer of any change to the par value of the Shares. Each of Company and Dealer acknowledges and agrees that if, following any subsequent adjustment to the Transaction, the Maximum Number of Shares exceeds the Maximum Number of Shares as ...
Par Value Payment. On each Closing, if any amount of Par Value Payment relating to a Drawdown Notice is required to be returned to the Investor, due to adjustments in the amount of an Advance Request or due to the costs and fees associated with facilitating a Drawdown Notice, then the Investor has no obligation to accept a subsequent Drawdown Notice until that amount has been paid in full by the Company to the Investor.
Par Value Payment. Concurrently with the delivery of this Agreement to the Corporation, Participant shall pay the Corporation (in cash or by check or direct offset against any amounts owed Participant by the Corporation) the aggregate par value of the Issued Shares and shall deliver a duly executed blank Assignment Separate from Certificate (in the form attached hereto as Exhibit I) with respect to the Issued Shares.
Par Value Payment. Notwithstanding anything to the contrary within this Agreement, in addition to paying the applicable Exercise Price in accordance with Section 4(d), by accepting this Award you undertake to pay to the Company the aggregate par value of the Shares, rounded up to the nearest $0.01, to be issued to you pursuant to this Section 4 (the “Par Value Payment”). At the Company’s discretion, the Par Value Payment shall be paid to the Company pursuant to a payroll deduction of the applicable amount that shall be completed no later than the first payroll that is run following the vesting of each applicable Option, or pursuant to a cash payment made by you to the Company no later than ten (10) days following the vesting of each applicable Option.