Subscription Obligation definition
Examples of Subscription Obligation in a sentence
Subject to the foregoing conditions and in accordance with Section 3.1, the Company will sell and the Investors will purchase, prior to or upon consummation of an IPO, Series A Shares representing any remaining Subscription Obligation.
The Company may, with the consent of the Investor, also disclose, in connection with this offering or the operations of the Company, the name and amount of the Investor’s Subscription Obligation.
It is understood and agreed that the Additional Subscription Obligation provided in this paragraph (a) will occur only if the events specified in clause (i) or (ii) occur.
Capital requirements of the FCCL Oil Sands Partnership will be funded, to the extent available, with amounts paid by ConocoPhillips (Canada) to the FCCL Oil Sands Partnership on account of the ConocoPhillips (Canada) Subscription Obligation.
Except for each Purchaser's Additional Preferred Stock Subscription Obligation and shares of Common Stock issuable pursuant to the Option Plan and the Founders' Warrants, there are no outstanding rights (either preemptive or other) or options to subscribe for or purchase from the Company, or any warrants or other agreements providing for or requiring the issuance by the Company of, any capital stock or any securities convertible into or exchangeable for, or exercisable into, its capital stock.
Each Shareholder who executes a Subscription Obligation shall be obligated to purchase the number of shares stated therein on or before the later of (i) 15 days after the receipt by the Company of such Shareholder's Subscription Obligation or (ii) the purchase date for such shares set forth in the Shareholder's Subscription Obligation (the "Subscription Obligation Funding Date").
No such request shall be made which would require a Purchaser to purchase pursuant to its Additional Preferred Stock Subscription Obligation less than a whole share of Series B Preferred Stock.
Within 15 days after the receipt of such notice, each Shareholder that wishes to subscribe for and purchase its allocated shares of such New Shares shall execute and deliver to the Company, with a copy delivered to the other Shareholder, a subscription agreement by which such Shareholder obligates itself to purchase all or a portion of its allocated share of such New Shares at the price per share set forth in the Board's notice (the "Subscription Obligation").
Section 2.1 Subscription Obligation") for a number of shares (the "Section 2.1 Subscription Shares"), rounded up to the nearest whole number, of the Allied Common Stock equal to the product obtained by dividing the amount of such Interest Installment by the Current Market Price of the Allied Common Stock as of such Interest Due Date for an aggregate purchase price equal to the amount of such Interest Installment.
The term "Additional Preferred Stock Subscription Obligation" shall mean, as to any Purchaser, the obligation to purchase additional shares of Series A Preferred Stock pursuant to Section 3.1 in an amount set forth opposite each Purchaser on Exhibit A attached hereto, each such share to be purchased at a purchase price of $3.00 per share.