New Issue Securities definition
Examples of New Issue Securities in a sentence
The purchase by the Investors of any New Issue Securities is subject in all cases to the preparation, execution and delivery by the Company and the Investors of a purchase agreement relating to such New Issue Securities reasonably satisfactory in form and substance to the Investors and the Company and their respective counsel.
If the Company proposes to issue any New Issue Securities after the expiration of such 90-day period (as extended pursuant to the proviso of the previous sentence), it shall again comply with the procedures set forth in this Section 3.01.
In the event that any Investor so elects to reduce the number or amount of New Issue Securities specified in its Notice of Acceptance, the Company may not issue, sell or exchange more than the reduced number or amount of the New Issue Securities unless and until such securities have again been offered to the Investors in accordance with Section 4.3(a) above.
Notwithstanding the immediately preceding sentence, the term "New Issue Securities" shall not include shares of the Common Stock which are at any time subject to purchase, by the Majority Stockholder pursuant to an Option Agreement between the Corporation and the Majority Stockholder dated on or prior to the date of this Agreement.
The note shall be secured by a pledge of the New Issue Securities purchased by the Executive with the proceeds of the loan evidenced thereby.
The offer of the Corporation to the Executive described in the first sentence of this Paragraph 16 shall contain the same price per share, security, option, warrant or other right constituting New Issue Securities and substantially similar terms and conditions as the sale of the New Issue Securities which obligates the Corporation to make the offer.
The Initial Subscribing Stockholders or the Company, as applicable, shall offer to sell such New Issue Securities to each other Stockholder within ninety (90) days after the closing of the purchase of the New Issue Securities by the Initial Subscribing Stockholders.
In the event the Company has not sold such New Issue Securities within said one hundred twenty (120) day period, the Company will not thereafter issue or sell any New Issue Securities without first offering such New Issue Securities to the Stockholders in the manner provided above.
If the Stockholders (as a group) agree to purchase less than the total number of New Issue Securities proposed to be issued and sold, the Company shall have one hundred twenty (120) days thereafter to sell any or all of the remaining New Issue Securities (i.e., those not to be sold to any Stockholder) to one or more other Persons, upon terms and conditions no less favorable to the Company, and no more favorable to such Person or Persons, than those set forth in the Preemptive Notice.
The offer of the Company to sell the New Issue Securities shall expire after such 15 day period (“Exercise Period”).