New Securities definition
Examples of New Securities in a sentence
If the Corporation does not enter into an agreement for the sale of the New Securities within such period, or if such agreement is not consummated within 60 days of the execution thereof, the right provided hereunder shall be deemed to be revived and such New Securities shall not be offered unless first reoffered to the Significant Shareholders in accordance with this Section 5.
Subject to the terms and conditions of this Section 4 and applicable securities laws, if the Company proposes to sell any New Securities, the Company shall offer to sell a portion of New Securities to each Major Investor as described in this Section 4.
The notice shall describe the price and the terms which the Corporation proposes to Sell such New Securities together with a calculation of such Shareholder’s Current Ratio and the number of New Securities such Significant Shareholder would be allowed to purchase under this Section 5 to maintain his, her or its Current Ratio after such sale was complete.
If the Company does not enter into an agreement for the sale of the New Securities within such period, or if such agreement is not consummated within thirty (30) days of the execution thereof, the right provided hereunder shall be deemed to be revived and such New Securities shall not be offered unless first reoffered to the Major Investors in accordance with this Section 4.
If a Significant Shareholder fails to deliver payment for his, her or its portion of the New Securities within the requisite time period, the Corporation shall proceed with the offering of such New Securities according to the plan described in the notice delivered to the Significant Shareholders and the Significant Shareholder failing to exercise such rights shall have no further special purchase rights under this Section 5 in connection with such offering.