Examples of Initial Settlement Date in a sentence
The Seller’s obligation to deliver the Initial Number of Shares to the Purchaser on the Initial Settlement Date is subject to the condition that the representations and warranties made by the Purchaser in the Agreement shall be true and correct as of the date hereof and the Initial Settlement Date.
On the Initial Settlement Date, an amount equal to the Pro Rata Proportion multiplied by the Deposit Bank Initial Redemption Amount shall be payable in respect of each Security.
The Seller will, at the Initial Settlement Date and on any other day on which it is required to deliver shares of Common Stock to the Purchaser hereunder, have the free and unqualified right to transfer the Number of Shares of Common Stock to be delivered by the Seller pursuant to Sections 2.01 and 3.01 hereof, free and clear of any security interest, mortgage, pledge, lien, charge, claim, equity or encumbrance of any kind.
On the Initial Settlement Date, the Commitments of the Lenders shall reduce to the Cash Tender Offer Amount.
The second and third installment payments shall be adjusted by the Committee to reflect interest earned thereon from the Initial Settlement Date through the Settlement Date on which the installment is paid.