Subscriptions for Units Clause Samples
The "Subscriptions for Units" clause defines the process by which investors can purchase or subscribe to units in an investment fund or similar entity. Typically, this clause outlines the requirements for submitting a subscription request, such as completing a subscription agreement and providing necessary documentation or payment. It may also specify minimum investment amounts and the timing for acceptance of subscriptions. The core function of this clause is to establish clear procedures and requirements for new investments, ensuring that all subscriptions are handled consistently and in accordance with the fund's rules.
Subscriptions for Units. You shall (a) find Eligible Investors for the Units, (b) keep records of the basis for each determination by a member of, or person associated with, your firm of a subscriber's suitability and (c) promptly forward each fully completed and executed copy of the Subscription Agreement, as signed by each subscriber and countersigned by a supervisory representative of your firm, together with the related subscription payment (in the form of a check made payable to " ICON Income Fund Eight Escrow Account" pending receipt and acceptance by the General Partner of subscriptions for 37,500 Units and thereafter in the form of a check made payable to "ICON Income Fund Eight Subscription Account") to: ICON Capital Corp. ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ Each Subscription Agreement and related subscription payment shall be forwarded by your firm to us at the foregoing address no later than noon of the next business day after receipt from your customer by any member of, or person associated with, your firm of such payment, unless such Subscription Agreement and payment are first forwarded to another of your offices for internal supervisory review (which shall take place within the aforementioned time period), in which event such other office shall complete its review and forward such Subscription Agreement and payment to the above address no later than noon of the next business day after its receipt thereof. (Notwithstanding the foregoing, any investor's check not properly completed as described above shall be promptly returned to such investor not later than the next business day following your receipt of such check). Each subscription so received by the General Partner will subject to acceptance or rejection by it by the end of the next business day. Each such subscription payment received by us and accepted by the General Partner will be transmitted, as soon as practicable, but in any event by the end of the second business day following our receipt thereof, to The Bank of New York (NJ), White Plains, New York (the "Escrow Agent") for deposit in an interest-bearing bank account insured by the Federal Deposit Insurance Corporation which shall be an escrow account in the name of Escrow Agent pending the Initial Closing Date and will be a segregated subscription account of the Partnership thereafter. We undertake to promptly return directly to you for return to any of your customers whose subscriptions are not accepted by the General Partner, their Subscript...
Subscriptions for Units. (A) The Investor agrees to become a member of the Fund and in connection therewith subscribes for and agrees to purchase Units of and to make a capital contribution (a “Capital Contribution”) to the Fund on the terms provided for herein, in the Private Placement Memorandum, and in the limited liability company agreement of the Fund (the “Fund Agreement”). The minimum amount for initial subscriptions is set forth in the Private Placement Memorandum. Payment in good funds for Units must be received prior to the closing date. The Investor agrees to, and understands, the terms and conditions upon which the Units are being offered, including, without limitation, the risk factors referred to in the Private Placement Memorandum. Prior to the closing date established by the Fund for such subscription (the “Acceptance Date”), the Investor’s payment (the “Payment”) will be held in escrow by the Fund’s escrow agent, subject to the terms and conditions herein. The Investor agrees that the Fund’s escrow agent, in its sole discretion, may arrange for the Payment to be invested, together with the payments of other investors, in short-term certificates of deposit, short-term U.S. Government-backed securities or a similar short-term investment account pending the acceptance or rejection of the Investor’s subscription. Any interest actually earned on the Payment will be paid to the Fund, whether the Investor’s subscription for Units is accepted or rejected.
(B) The Investor understands and agrees that the Fund reserves the right to reject this subscription for Units for any reason or no reason, in whole or in part and at any time prior to acceptance thereof notwithstanding prior receipt by the Investor of notice of acceptance of the Investor’s subscription. In the event of rejection of this subscription, the Payment will be promptly returned to the Investor without deduction, and this Subscription Agreement shall have no force or effect. Upon acceptance of this subscription by the Fund, the Investor shall be a member of the Fund. The Investor hereby agrees that by its execution of this Subscription Agreement and upon acceptance hereof by the Fund, it shall become a party to the Fund Agreement. The Investor shall complete, sign and date this Subscription Agreement and promptly return it to Hatteras Funds, c/o UMB Fund Services, Inc. (the “Administrator”).
Subscriptions for Units. Save the initial Capital Contribution to the Limited Partnership made by the General Partner as described in Section 3.5(iii), the Limited Partnership may raise capital for the Limited Partnership only by the issuance of the Class A Units.
Subscriptions for Units. (a) The Company may from time to time, in the sole discretion of the Board, offer Units to investors for purchase ("Offerings").
(b) In Offerings, the minimum initial and additional investment requirements shall be such amounts as are specified in the Prospectus. All subscriptions for Units in Offerings and payments therefor shall be made pursuant to the terms and conditions set forth in the Prospectus, and subscriptions shall be subject to acceptance by the Company, as described in Section 5 below.
(c) All payments received by you hereunder for subscriptions in the name and on behalf of the Company shall be handled by you in accordance with the terms of the subscription documentation.
(d) If the offering is not completed in accordance with the conditions set forth in the Offering Documents, the Company may terminate the offering. In such case, you will instruct the Company's escrow agent to return all subscription payments to investors.
Subscriptions for Units. (a) The Company may from time to time, in the sole discretion of the Board, offer Units to investors for purchase ("Offerings").
(b) In Offerings, the minimum initial and additional investment requirements shall be such amounts as are specified in the Prospectus. All subscriptions for Units in Offerings and payments therefor shall be made pursuant to the terms and conditions set forth in the Prospectus, and subscriptions shall be subject to acceptance by the Company, as described in Section 5 below.
(c) All payments received by you hereunder for subscriptions in the name and on behalf of the Company shall be handled by you in accordance with the terms of the subscription documentation.
(d) If the offering is not completed in accordance with the conditions set forth in the Offering Documents, the Company may terminate the offering. In such case, you will instruct the Company's escrow agent to return all subscription payments to investors.