Cap Refund definition
Examples of Cap Refund in a sentence
In the event the Company is prohibited from issuing the full amount of the Additional Shares as a result of the operation of Section 2.3.11, the Company shall refund to the Subscriber a dollar amount (the "Reset Cap Refund Amount") equal to the product of (a) the difference of (i) the number of Additional Shares required to be issued by the Company, minus (ii) the number of the Cap Limit Shares, times (b) the applicable Put Reset Price.
On or before the third (3rd) Business Day following the date that such Additional Shares were required to be issued, the Company shall deliver to the Subscriber Unlegended Share Certificates representing the Cap Limit Shares registered in the name of Subscriber or its nominee (as instructed by Subscriber) and free of restrictive legends and the Reset Cap Refund Amount.