SAILS definition
Examples of SAILS in a sentence
No Option SAILS shall be sold or delivered unless the Firm SAILS have been simultaneously or were previously sold and delivered.
The Company shall deliver against payment of the purchase price the Firm SAILS in the form of one or more permanent global SAILS in definitive form (the "Firm Global SAILS") deposited with the Trustee as custodian for The Depository Trust Company ("DTC") and registered in the name of Cede & Co., as nominee for DTC.
Payment for such Option SAILS shall be made by the Underwriters by wire transfer of same-day funds at a bank acceptable to CSFBC drawn to the order of the Company at the above office of ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & ▇▇▇▇▇▇▇▇ against delivery to the Trustee as custodian for DTC of the Option Global SAILS representing all of the Option SAILS being purchased on such Option Closing Date.
The Company agrees to sell to the Underwriters and the Underwriters agree, severally and not jointly, to purchase from the Company, the number of Option SAILS specified in such notice to the Company.
The right to purchase the Option SAILS or any portion thereof may be surrendered and terminated at any time upon notice by CSFBC to the Company.
The Company will deliver, against payment of the purchase price, the Option SAILS being purchased on each Option Closing Date in the form of one or more permanent global SAILS in definitive form (each, an "Option Global SAILS") deposited with the Trustee as custodian for DTC and registered in the name of Cede & Co., as nominee for DTC.
The number of Option SAILS to be so purchased by each of the Underwriters upon exercise of such option shall be the same proportion to the total number of Option SAILS being purchased by each Underwriter pursuant to the exercise of such option as the number of Firm SAILS purchased by such Underwriter (set forth in Schedule A hereto) bears to the total number of Firm SAILS purchased by the Underwriters, adjusted by CSFBC in such a manner as to avoid fractional SAILS.
Notwithstanding the provisions of this Section 10(g), no Underwriter shall be required to contribute any amount in excess of the amount by which the total price at which the SAILS underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages which such Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission.
Such Option SAILS shall be purchased by the Underwriters only for the purpose of covering over-allotments made in connection with the sale of the Firm SAILS.
In addition, upon written notice from CSFBC to the Company from time to time not more than 30 days subsequent to the date of the Company Prospectus (or, if such 30th day shall be a Saturday, Sunday or holiday, on the next business day thereafter when the NYSE is open for trading), the Underwriters may purchase all or less than all of the Option SAILS at the purchase price per SAIL to be paid for the Firm SAILS.