Initial Subscription Receipts definition
Examples of Initial Subscription Receipts in a sentence
As of the close of business on July 31, 2014, there are 23,245,553 issued and outstanding R2 Shares, 1,146,000, R2 Options and 19,166,666 R2 Initial Subscription Receipts.
Other than the R2 Shares, the R2 Options and the R2 Initial Subscription Receipts, there are no securities of R2 outstanding.
Subject to applicable Canadian Securities Laws and the rules and policies of the TSXV, San Antonio has the full and lawful right and authority to issue the San Antonio Shares to the R2 Shareholders (including to holders of R2 Initial Subscription Receipts), in connection with the Amalgamation, and upon issuance such shares will be validly issued as fully paid and non-assessable common shares in the capital of San Antonio free and clear of all Encumbrances.
The Closing of the purchase and sale of the Initial Subscription Receipts herein provided for shall be completed at 8:00 a.m. (Toronto time) on April 5, 2023 (respectively, the “Closing Time” and the “Closing Date”), or such other date and/or time as may be agreed upon in writing by the Corporation and the Agent, but in any event not later than April 21, 2023, at the offices of Fogler, R▇▇▇▇▇▇▇ LLP.
The Corporation acknowledges and agrees that it was a condition of the payment by the holders of Initial Subscription Receipts of C$0.30 per Initial Subscription Receipt therefor that the Escrowed Funds be held by the Subscription Receipt Agent in accordance with the provisions of this Article 6.
To the extent that Substituted Purchasers purchase Initial Subscription Receipts at the Closing, the Underwriter shall not be obligated to purchase the Initial Subscription Receipts so purchased by such Substituted Purchasers.
The Corporation shall concurrently pay to Subscription Receiptholders any difference between the amount of the Subscription Receiptholders pro rata share of the Escrowed Funds and the aggregate Purchase Price of the Initial Subscription Receipts held by them.
The Underwriters acknowledge that, subject to the conditions contained in Section 11 being satisfied and subject to the rights of the Underwriters contained in Section 16, the Underwriters are obligated to purchase or cause to be purchased all of the Initial Subscription Receipts.