Lorus definition

Lorus means Lorus Therapeutics Inc.;

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Lorus or the “Corporation”) proposes to issue and sell 12,730,000 common shares of the Corporation (the “Purchased Securities”) at a price of $0.55 per share (the “Purchase Price”). The offering of the Purchased Securities is hereby referred to as the “Offering”. Based on the foregoing, and subject to the terms and conditions contained in this Agreement, the Underwriters severally, on the basis of the percentages set forth in Paragraph 15 of this Agreement and not jointly, agree to purchase from the Corporation, and by its acceptance hereof, the Corporation agrees to issue and sell to the Underwriters, the Purchased Securities, respectively, on the Closing Date (as defined below). By acceptance of this Agreement, the Corporation grants to the Underwriters a one-time, unassignable right to purchase (the “Option”) that number of common shares that is equal to 15% of the total number of Purchased Securities sold to the Underwriters (the “Additional Securities”). If Clarus and Canaccord, acting jointly on behalf of the Underwriters, elect to exercise such Option, Clarus and Canaccord shall notify the Corporation in writing not later than 30 days after the Closing Date, which notice shall specify the number of Additional Securities to be purchased by the Underwriters and the date on which such Additional Securities are to be purchased. Such date may be the same as the Closing Date but not earlier than the Closing Date nor later than five Business Days after the date of such notice (the “Option Closing Date”). Additional Securities may be purchased solely for the purpose of covering overallotments made in connection with the offering of the Purchased Securities for market stabilization purposes permitted pursuant to applicable securities law. If any Additional Securities are purchased, each Underwriter agrees, severally and not jointly, to purchase the number of Additional Securities (subject to such adjustments to eliminate fractional shares as Clarus and Canaccord may determine) based on the percentages set forth in Paragraph 15 of this Agreement. The Purchased Securities and the Additional Securities are hereinafter collectively referred to as the “Securities”. In consideration of the Underwriters’ agreement to purchase the Purchased Securities which will result from the acceptance by the Corporation of this offer and in consideration of the services to be rendered by the Underwriters in connection therewith, the Corporation agrees to pay to the Underwriters a fee ...

Lorus brand licensed by Seiko Corporation to SMI under the SC License Agreement.

Examples of Lorus in a sentence

• To the extent that amounts are so withheld, such withheld amounts will be treated for all purposes hereof as having been paid to the holder of the New Lorus Shares in respect of which such deduction and withholding was made, provided that such withheld amounts are actually remitted to the appropriate taxing authority.

• Except as specified in this Plan, the terms and conditions of the Old Lorus Share Purchase Plan will otherwise be the same.

• From and after the Effective Date, the entitlement of any participant to receive Old Lorus Shares prior to the Arrangement under the Old Lorus Share Purchase Plan will thereafter represent only the right to receive an equivalent number of New Lorus Shares.

• Each New Lorus Option will represent a right to purchase that number of New Lorus Shares equal to the number of Old Lorus Shares underlying the Old Lorus Option.

• The term to expiry, conditions to and manner of exercising, vesting schedule and all other terms and conditions of each New Lorus Option will otherwise be the same as the terms and conditions of the corresponding Old Lorus Option.

• The person who is entitled to receive such consideration will, as a condition precedent to the receipt thereof, give a bond to each of New Lorus and its Depositary, which bond is in form and substance satisfactory to each of New Lorus and the Depositary, or will otherwise indemnify New Lorus and its Depositary against any claim that may be made against any of them with respect to the certificate alleged to have been lost, stolen or destroyed.

• Each Old Lorus Option and each Old Lorus Warrant will be cancelled without further act or formality.

• To the extent that amounts are so withheld, such withheld amounts will be treated for all purposes hereof as having been paid to the holder of the Old Lorus Securities in respect of which such deduction and withholding was made, provided that such withheld amounts are actually remitted to the appropriate taxing authority.

• Thereafter, the New Lorus Shares to be exchanged with the former holder of such certificate will be deemed to be surrendered to New Lorus together with all distributions and sale proceeds thereon held for such holder.

• Any demand, notice or other communication to be given in connection with this Agreement must be given in writing and will be given by personal delivery, by registered mail or by electronic means of communication addressed to the recipient as follows: To New Lorus: Lorus Therapeutics Inc.

More Definitions of Lorus

Lorus brand owned by SC, which is licensed by SC to SII International under the terms of the SC License Agreement. "Manufacturing, Supply and Purchase Agreement" means the Manufacturing, Supply and Purchase Agreement, to be dated as of the Closing, by and between SII and SII International, substantially in the form attached as Exhibit G hereto.

Lorus in the GSA shall mean a reference to the Assignee, except to the extent the context requires otherwise.