Role as Subscription Receipt Agent Sample Clauses
The 'Role as Subscription Receipt Agent' clause defines the responsibilities and authority of a party appointed to act as the agent for handling subscription receipts in a transaction. Typically, this agent is tasked with receiving, holding, and disbursing funds or securities deposited by subscribers until certain conditions, such as the completion of a merger or regulatory approval, are met. By clearly outlining the agent's duties and the circumstances under which funds are released, this clause ensures the secure and orderly management of subscription proceeds, protecting the interests of both issuers and subscribers.
Role as Subscription Receipt Agent. The Subscription Receipt Agent accepts its duties and responsibilities under this Agreement solely as a custodian, bailee and agent, and no trust is intended to be, or is or will be, created hereby and the Subscription Receipt Agent shall owe no duty hereunder as a trustee.