BGLC definition
Examples of BGLC in a sentence
The Company shall provide written notice (the “Issuance Notice”) to BGLC at least twenty-one (21) days prior to the proposed issuance of any New Securities, detailing the terms of the proposed issuance.
BGLC shall have fifteen (15) days from the receipt of the Issuance Notice (the “Initial Exercise Period”) to elect to purchase up to its pro-rata share of the New Securities.
Subject to the terms of this Clause 4.4, BGLC shall have the right, but not the obligation, to participate in any future issuance by the Company of new shares or other securities convertible into shares ("New Securities"), including the right to purchase more than its pro-rata share of such New Securities (an “Over-Subscription Right”).
Subject to the terms and conditions of this Agreement, the Company hereby agrees to allot and issue to BGLC, and BGLC agrees to subscribe for, such number of new Ordinary Shares in the capital of the Company as shall, immediately upon completion of such subscription and issuance, represent at least fifteen percent (15.0%) of the Company’s Enlarged Share Capital (the “Subscription Shares”).
The Company and BGLC shall have executed a binding Intellectual Property License Agreement, granting BGLC exclusive rights to commercialize the VitaGuard System in the SEA Region.
If any New Securities remain unsubscribed upon the expiration of the Initial Exercise Period (the “Remaining Securities”), the Company shall notify BGLC, which shall have a second period of ten (10) days to elect to purchase all or any portion of the Remaining Securities.