Common use of Rights to Subscribe Clause in Contracts

Rights to Subscribe. If any securities of the Company shall be offered for subscription to the Beneficiary, the Trustees shall promptly mail a copy of the notice of such offer to the Beneficiary. Upon receipt by the Trustees of a request from the Beneficiary to subscribe on the Beneficiary's behalf, accompanied by the sum of money required to be paid for such securities, at least ten (10) days prior to the last date fixed by the Company for subscription, the Trustees shall make the subscription and payment on behalf of the Beneficiary. Upon receiving from the Company the certificates for the subscribed for securities, the Trustees may retain securities having voting power as that term is used in Section 3(b) hereof, or, may deliver securities other than securities having such voting power, to the Beneficiary.

Appears in 2 contracts

Samples: Voting Trust Agreement (Amdl Inc), Voting Trust Agreement (Chinese Universal Technologies Co LTD)

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