Common use of The Subscription Clause in Contracts

The Subscription. 2.1 Subject to Clause 4, the Subscriber shall subscribe and pay for the Subscription Shares at the Subscription Price and the Company shall, subject to payment in full, allot and issue the Subscription Shares subject to its memorandum of association and bye-laws of the Company upon Completion. 2.2 The Subscriber shall be entitled to nominate one of its wholly-owned subsidiaries to take up the Subscription Shares upon Completion provided that written notice of such nomination shall be made to the Company at least three Business Days prior to the Completion Date, provided further that the nomination as such shall not release the Subscriber from performing its obligations under this Agreement.