SPUS definition
Examples of SPUS in a sentence
SPECIFICALLY, SELLER MAKES NO REPRESENTATION OR WARRANTY WITH RESPECT TO THE MANUFACTURE, USE OR SAFETY OF THE SPUS LOTS OR THAT SUCH SPUS LOTS WILL BE SUITABLE FOR ANY OF THE INTENDED USES OF SUCH LOTS BY BUYER.
All amounts of the Purchase Price paid to Seller by Buyer prior to the exercise of Seller’s right to terminate in this Section 9.1 are non-refundable and shall be retained by Seller except for the Two-Hundred and Fifty Thousand Dollars ($250,000.00) paid upon production of the first batch of non-clinical grade SPUS by Buyer which shall be governed by the terms of the Escrow Agreement.
Upon delivery, the Firm SPUS shall be registered in the name of Cede & Co., as nominee for DTC.
Each Purchase Contract evidenced hereby, which is settled either through Early Settlement or Cash Settlement, shall obligate the Holder of the related Corporate SPUS to purchase at the Purchase Price, and the Company to sell, a number of newly issued shares of Common Stock equal to the Early Settlement Rate or the Settlement Rate, as applicable.
Upon delivery, the Option SPUS shall be registered in the name of Cede & Co., as nominee of DTC.
Upon Early Settlement of Purchase Contracts by a Holder of the related Securities, the Pledged Treasury Securities underlying such Securities shall be released from the Pledge as provided in the Pledge Agreement and the Holder shall be entitled to receive a number of shares of Common Stock on account of each Purchase Contract forming part of a Treasury SPUS as to which Early Settlement is effected equal to [_________] shares of Common Stock per Purchase Contract (the "Early Settlement Rate").
In any case where any Purchase Contract Settlement Date shall not be a Business Day, notwithstanding any other provision of this Agreement, the Corporate SPUS Certificates or the Treasury SPUS Certificates, the Purchase Contracts shall not be performed on such date, but the Purchase Contracts shall be performed on the immediately following Business Day with the same force and effect as if performed on the Purchase Contract Settlement Date.
Upon surrender for registration of transfer of any Certificate at the Corporate Trust Office, the Company shall execute and deliver to the Agent, and the Agent shall authenticate, execute on behalf of the designated transferee or transferees, and deliver, in the name of the designated transferee or transferees, one or more new Certificates of any authorized denominations, like tenor, and evidencing a like aggregate number of Corporate SPUS or Treasury SPUS, as the case may be.
The obligation of Dominion ---------------------------------------- to deliver the SPUS shall be subject to the conditions set forth in the first sentence of Section 7(a)(i) and in Section 7(a)(ii).
Unless the certificate of authentication hereon has been executed by the Agent by manual signature, this Corporate SPUS Certificate shall not be entitled to any benefit under the Pledge Agreement or the Purchase Contract Agreement or be valid or obligatory for any purpose.