Issue of Securities. Clause 21 will apply to the issue of any Securities under clause 20.5, except that: (a) the issue price for the Securities must be Fair Market Value; (b) the proposed subscription date is the date specified in the notice in the Securities Issue Notice; (c) each Shareholder is not entitled to subscribe for more than its Respective Proportion of the Securities proposed to be issued; and (d) the time periods specified in clauses 21.2 and 21.3 shall be shortened to 30 and 15 Business Days, respectively.
Appears in 3 contracts
Sources: Shareholders’ Agreement (STUDIO CITY INTERNATIONAL HOLDINGS LTD), Shareholders’ Agreement (STUDIO CITY INTERNATIONAL HOLDINGS LTD), Implementation Agreement (Melco Crown Entertainment LTD)