DRS Statements definition
Examples of DRS Statements in a sentence
Certificates and DRS Statements representing Common Shares that are issued and outstanding at the Record Time shall evidence one Right for each Common Share evidenced thereby, notwithstanding the absence of the foregoing legend, until the earlier of the Separation Time and the Expiration Time.
At the First Tranche Closing, the Company shall have delivered irrevocable instructions to its transfer agent to issue and deliver to the Buyer, within two (2) Business Days after the First Tranche Closing, one or more certificates or DRS Statements reflecting the First Tranche Purchase Shares purchased by the Buyer at the First Tranche Closing.
If, prior to the Closing Time, the terms and conditions contained in this Subscription Agreement (other than the delivery by the Corporation of the DRS Statement(s) representing the Shares or of such other evidence of the issue of the Shares as the Corporation may determine) have not been complied with to the satisfaction of the Corporation, or waived by the Corporation, as applicable, the Corporation and the Subscriber will have no further obligations under this Subscription Agreement.
The Transfer Agent or registrar shall, as soon as practicable, issue to such Shareholders DRS Statements or certificates representing the number of Great Oak Shares to which such holder is entitled or to effect the deposit of such Great Oak Shares as book-entry only securities in accordance with the “non- certificated inventory” rules and procedures of CDS.
It is anticipated that the Shares purchased and issued hereunder will be represented by way of a DRS Statement(s) (as defined herein), and not by way of a definitive certificate(s).