NASCIT definition
Examples of NASCIT in a sentence
NASCIT makes the representations and warranties set forth in this Section 5.2 to the Purchaser and Sterling as of the date hereof.
NASCIT has been furnished copies of or access to the Purchaser SEC Reports which have been filed prior to the date of this Agreement and has been afforded an opportunity to ask questions of and receive answers from representatives of the Purchaser and Sterling concerning the terms and conditions of this Agreement and the acquisition of the Purchaser Securities and the Sterling Short-Term Note contemplated hereby.
NASCIT also understands that the exemption from registration afforded by Rule 144 (the provisions of which are known to NASCIT) promulgated under the Securities Act depends upon the satisfaction of various conditions and that, if applicable, Rule 144 may afford the basis for sales only in limited amounts.
NASCIT subsequently assigned that warrant to Hare whereupon it was reissued as Warrant No. ST-22 and is hereinafter referred to as the "Warrant." Effective November 13, 2004, SCC issued Five-Year Subordinated Promissory Notes to certain of the Noteholders and on December 22, 2004, SCC issued a Five-Year Subordinated Promissory Note to each of the Noteholders, all as set forth in the schedule attached hereto as Schedule A.
Representations and Warranties of the Purchaser The Purchaser makes the representations and warranties set forth in this Article IV to NASCIT as of the date hereof.
Upon the terms and subject to the conditions set forth in this Agreement, on the Closing Date, the Purchaser will sell, assign, transfer and deliver to NASCIT the Purchaser Securities, free and clear of all Liens, upon receipt of three million four hundred eighty-eight thousand two hundred eighty dollars ($3,488,280.00) by wire transfer of immediately available funds to an account designated by the Purchaser at least three days prior to the Closing Date.
NASCIT also understands that such securities must be held indefinitely unless they are subsequently registered under the Securities Act and any applicable state securities laws or a subsequent disposition thereof is exempt from registration.
At the Closing, Sterling shall have borrowed one million five hundred thousand dollars ($1,500,000.00) from NASCIT pursuant to the Institutional Purchase Agreement and in accordance with the terms of that certain promissory note in the form attached hereto as Exhibit S (the "NASCIT Short-Term Note").
Effective October 31, 2001, SCC issued to North Atlantic Small Companies Investment Trust Plc ("NASCIT") Warrant No. ST-12 to purchase 322,661 shares of the common stock of SCC.
Sterling makes the representations and warranties set forth in this Article III to NASCIT as of the date hereof.