USCI definition
Examples of USCI in a sentence
By:_______________________________ Name:_____________________________ Title:____________________________ FORM OF ELECTION TO PURCHASE (To be executed by the Holder to exercise the right to purchase shares of Common Stock under the foregoing Warrant) To USCI, Inc.: In accordance with the Warrant enclosed with this Form of Election to Purchase, the undersigned hereby irrevocably elects to purchase [___________] shares of Common Stock, $.0001 par value, of USCI, Inc.
The initial contribution to USCI is held, and any similar contributions to additional Funds shall be held, in bank accounts in the name of the Trust controlled by the Sponsor, which amount shall constitute the initial trust estate.
The Sponsor contributed the sum of $1,000 as an initial contribution to the capital of the Trust and as consideration for the Sponsor’s units in USCI designated in Section 4.2 hereof, and shall also contribute a sum of $1,000 as consideration for the Sponsor’s units in each additional Fund designated in Section 4.2 hereof.
All financial statements relating to USCI or any other guarantor of the Obligations that have been delivered by Borrower to Foothill have been prepared in accordance with GAAP (except, in the case of unaudited financial statements, for the lack of footnotes and being subject to year-end audit adjustments) and fairly present USCI's (or such other guarantor's, as applicable) financial condition as of the date thereof and USCI's results of operations for the period then ended.
A COPY OF THAT AGREEMENT IS ON FILE AT THE PRINCIPAL OFFICE OF USCI, INC.
Such audited consolidated and consolidating financial statements shall include balance sheets, profit and loss statements, and statements of cash flow for USCI and each such Subsidiary, and, if prepared, such accountants' letter to management.
So far as the Warrantors are aware, each Subsidiary that is a Non-U.S. Corporate Underwriter is an Eligible Corporate Underwriter, as defined in the Closing Agreement, and the only income of each such Subsidiary that is effectively connected with a trade or business in the United States is such Subsidiary's taxable USCI or USCL (as such terms are defined in the Closing Agreement).
Together with the above, Borrower also shall deliver to Foothill USCI's Form 10-Q Quarterly Reports, Form 10-K Annual Reports, and Form 8-K Current Reports, and any other filings made by USCI with the Securities and Exchange Commission, if any, as soon as the same are filed, or any other information that is provided by USCI to its shareholders, and any other report reasonably requested by Foothill relating to the financial condition of USCI or Borrower.
Borrower hereby irrevocably authorizes and directs all auditors, accountants, or other third parties to deliver to Foothill, at Borrower's expense, copies of USCI's financial statements, papers related thereto, and other accounting records of any nature in their possession, and to disclose to Foothill any information they may have regarding USCI and Borrower's business affairs and financial conditions.
There has not been a Material Adverse Change with respect to USCI or Borrower (or such other guarantor, as applicable) since the date of the latest financial statements submitted to Foothill on or before the Closing Date.