Direction of Subscription Receipt Agent Sample Clauses
The 'Direction of Subscription Receipt Agent' clause defines the authority and instructions given to the agent responsible for handling subscription receipts in a transaction. Typically, this clause outlines how the agent should act upon receiving directions from the relevant parties, such as releasing funds or documents when certain conditions are met. For example, it may specify that the agent must only act upon written instructions from both the issuer and the subscriber. The core function of this clause is to ensure that the subscription receipt agent acts in accordance with agreed-upon procedures, thereby safeguarding the interests of all parties and providing a clear process for the handling of funds or documents.
Direction of Subscription Receipt Agent. The parties hereby irrevocably authorize and direct the Subscription Receipt Agent to convert the Subscription Receipts pursuant to Section 4.1(a) hereof upon receipt of the Release Notice.
Direction of Subscription Receipt Agent. Provided that the Escrow Release Notice is received by the Subscription Receipt Agent at or before the Escrow Release Deadline, the parties hereby irrevocably authorize the issuance of the Underlying Securities pursuant to Section 4.1(3) hereof upon delivery of the Escrow Release Notice.