Reservation Acceptance definition
Examples of Reservation Acceptance in a sentence
The Escrow Agent covenants and hereby represents and warrants to the Company and the Underwriter as of the Reservation Acceptance of each Offering that it is a duly organized and validly existing “bank” as defined under Exchange Act Section 3(a)(6) and as required under Exchange Act Rule 15c2-4.
With respect to each Offering, from and after the applicable Reservation Acceptance through the applicable Termination Date, all checks, drafts, or other instruments or wire transfer funds received from the Investors as payment for the applicable Shares will be promptly delivered by the Underwriter to Escrow Agent for deposit with the Bank in accordance with Section 4 below.
With respect to each Offering, from and after the applicable Reservation Acceptance through the applicable Termination Date, all checks, drafts, or other instruments or wire transfer funds received from the Investors as payment for the applicable Shares will be delivered by the Underwriter to Escrow Agent by 12 p.m. Eastern time on the first Business Day following the Reservation Acceptance for deposit with the Bank in accordance with Section 4 below.