Fractional Subscription Receipts Clause Samples

The Fractional Subscription Receipts clause defines how the issuance and handling of subscription receipts in fractional amounts are managed within an agreement. Typically, this clause clarifies whether holders are entitled to receive partial receipts or if such fractions will be rounded up, down, or settled in cash. For example, if an investor subscribes for an amount that does not result in a whole number of receipts, the clause will specify how the remaining fraction is treated. Its core practical function is to ensure administrative clarity and fairness in the allocation of subscription receipts, preventing disputes over small, indivisible interests.
Fractional Subscription Receipts. No fractional Subscription Receipts shall be issued or otherwise provided for hereunder.
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Fractional Subscription Receipts. No fractional Subscription Receipts shall be issued or otherwise provided for hereunder and any fractional interests shall be rounded down to the nearest whole number without any consideration therefor.
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Fractional Subscription Receipts. Notwithstanding anything herein contained, the Company shall not be required to issue fractions of Subscription Receipts. In lieu of fractional Subscription Receipts, the total number of Subscription Receipts to be issued to a holder shall be rounded down to the nearest whole number of Subscription Receipts, with no cash payment being made for the fractional Subscription Receipt.
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Fractional Subscription Receipts. 7 2.4 REGISTER FOR SUBSCRIPTION RECEIPTS..............................7 2.5 REGISTERS OPEN FOR INSPECTION...................................7 2.6 RECEIPTHOLDER NOT A UNITHOLDER..................................7 2.7 SUBSCRIPTION RECEIPTS TO RANK PARI PASSU........................8 2.8 SIGNING OF SUBSCRIPTION RECEIPT CERTIFICATES....................8 2.9
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Related to Fractional Subscription Receipts

  • Fractional Shares No fractional Shares shall be issuable upon exercise or conversion of the Warrant and the number of Shares to be issued shall be rounded down to the nearest whole Share. If a fractional share interest arises upon any exercise or conversion of the Warrant, the Company shall eliminate such fractional share interest by paying Holder the amount computed by multiplying the fractional interest by the fair market value of a full Share.

  • Fractional Shares of Common Stock (a) The Company shall not issue fractions of Warrants or distribute Warrant Certificates which evidence fractional Warrants. Whenever any fractional Warrant would otherwise be required to be issued or distributed, the actual issuance or distribution shall reflect a rounding of such fraction to the nearest whole Warrant (rounded down). (b) The Company shall not issue fractions of shares of Common Stock upon exercise of Warrants or distribute stock certificates which evidence fractional shares of Common Stock. Whenever any fraction of a share of Common Stock would otherwise be required to be issued or distributed, the actual issuance or distribution in respect thereof shall be made in accordance with Section 2(d)(v) of the Warrant Certificate.

  • Fractional Warrant Shares The Company shall not be required to issue fractional Warrant Shares on the exercise of Warrants. If more than one Warrant shall be exercised in full at the same time by the same Holder, the number of full Warrant Shares which shall be issuable upon such exercise shall be computed on the basis of the aggregate number of Warrant Shares which may be purchasable pursuant thereto. If any fraction of a Warrant Share would, except for the provisions of this Section 3.06, be issuable upon the exercise of any Warrant (or specified portion thereof), the Company shall pay an amount in cash equal to the Current Market Value per Warrant Share, as determined on the day immediately preceding the date the Warrant is presented for exercise, multiplied by such fraction, computed to the nearest whole cent.

  • Cash in Lieu of Fractional Shares If Physical Settlement or Combination Settlement applies to the conversion of any Note and the number of shares of Common Stock deliverable pursuant to Section 5.03(B)(i) upon such conversion is not a whole number, then such number will be rounded down to the nearest whole number and the Company will deliver, in addition to the other consideration due upon such conversion, cash in lieu of the related fractional share in an amount equal to the product of (1) such fraction and (2) (x) the Daily VWAP on the Conversion Date for such conversion (or, if such Conversion Date is not a VWAP Trading Day, the immediately preceding VWAP Trading Day), in the case of Physical Settlement; or (y) the Daily VWAP on the last VWAP Trading Day of the Observation Period for such conversion, in the case of Combination Settlement.

  • Fractions Any fractional Share of a Series shall have proportionately all the rights and obligations of a whole share of such Series, including rights with respect to voting, receipt of dividends and distributions and redemption of Shares.