Subscription Balance definition
Subscription Balance means, in relation to an IPO Application, a sum equal to the Subscription Monies less the IPO Advance, which sum shall be paid by the Client to the Bank on such date as may be specified by the Bank;
Subscription Balance means the aggregate of all proceeds paid in subscription for shares of the Borrower from the Parent less any amounts distributed to the Parent pursuant to clause fifteenth of Section 3.03(a), clause twelfth of Section 3.03(b) and clause fourteenth of Section 3.03(c).
Examples of Subscription Balance in a sentence
Following payment of the Subscription Balance in accordance with this clause the Unpaid Shares will become fully paid.
If the Investor does not pay the Subscription Balance in accordance with this clause it acknowledges that the Investor will forfeit the Unpaid Shares and the Company will have the right to cancel the Unpaid Shares forthwith.
If the Subscription Balance is not paid in accordance with such clause the Put and Call Options referred to in this clause will lapse and be of no further force or effect.
If the Subscription Balance is paid in accordance with such clause the Call Option and the Put Option referred to in this clause will lapse and be of no further force nor effect.