PROCEDURE FOR EFFECTING DISCHARGE OF UNDERWRITING OBLIGATIONS Sample Clauses

The "Procedure for Effecting Discharge of Underwriting Obligations" clause outlines the steps and requirements for formally releasing an underwriter from their contractual commitments. Typically, this clause details the conditions that must be met, such as the completion of all underwriting duties, delivery of necessary documentation, and any required notifications to relevant parties. By specifying a clear process, this clause ensures that both the underwriter and the issuer understand when and how the underwriting relationship is officially concluded, thereby preventing disputes and ensuring a smooth transition at the end of the underwriting period.
PROCEDURE FOR EFFECTING DISCHARGE OF UNDERWRITING OBLIGATIONS. 6.1 Subject to Clause 2.2, the underwriting obligations, if any, of the Underwriter under this Agreement shall be discharged in the manner set forth below: (a) The Company, on behalf of itself and the Selling Shareholders, shall ensure that the Registrar shall, as soon as practicable after the Bid/ Offer Closing Date, promptly upon receipt of final certificates from SCSBs and Sponsor Bank but no later than 9.00 a.m. (Indian Standard Time) on the second Working Day after the id/ Offer Closing Date provide written notice to the Underwriter of the details of any valid Syndicate ASBA Bids procured by the Underwriter (or its Sub-Syndicate Members) with respect to which the Underwriter is obligated to procure subscribers or purchasers for, or purchase itself, and to pay, or cause the payment of the Offer Price, for such number of Equity Shares, that correspond to Bids procured by the Underwriter (or its Sub-Syndicate Members) and for which Syndicate ASBA Bidders who would have been entitled to be Allotted Equity Shares under Clause 5.2 of this Agreement. For avoidance of doubt, the underwriting obligations of the Underwriter under this Clause 6.1(a) of this Agreement shall be subject to the terms specified in Clause 2.2. (b) The Company, on behalf of itself and the Selling Shareholders, shall ensure that the Registrar shall, simultaneously following the dispatch of the notice set forth in Clause (a) and no later than one Working Day following the dispatch of the notice in Clause 6.1(a), provide written notice to the Underwriter and Syndicate Member (with a copy to the Company and the Selling Shareholders) of the details of any Syndicate ASBA Bids procured by the Syndicate Member for which the Syndicate ASBA Bidders have placed a Bid in respect of which the Bidders would have been entitled to the Equity Shares, but have defaulted in their payment obligations in relation to the Offer as specified in Clause 5 or where the Bidders have withdrawn their Bids and accordingly the extent of the obligations of the Underwriter, in accordance with Clause 5, to procure subscribers or purchasers for, or itself subscribe or purchase, such number of Equity Shares representing such Bids computed in accordance with Clause 5 and to cause payment of, or pay itself the Offer Price for number of Equity Shares. (c) The Underwriter shall, promptly following the receipt of the notice referred to in Clauses 6.1(a) and 6.1(b), as applicable, procure subscribers or purchasers for the requi...
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PROCEDURE FOR EFFECTING DISCHARGE OF UNDERWRITING OBLIGATIONS. Subject to Section 2.2 and Section 8, the underwriting obligations, if any, of the Underwriters under this Agreement shall be discharged in the manner set forth below: (a) The Company, on behalf of itself and the Selling Shareholders, shall ensure that the Registrar shall, as soon as practicable (but not later than two Working Days following the Bid/Offer Closing Date), provide written notice to each Underwriter of the details of any valid ASBA Bids procured by such Underwriter (or their respective Sub-syndicate Members) with respect to which such Underwriter is obligated to procure subscribers or purchasers for, or failing which, to subscribe to or to purchase itself, such number of Equity Shares as specified under Section 5.2 of this Agreement, and to pay, or cause the payment of the Offer Price under Section
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PROCEDURE FOR EFFECTING DISCHARGE OF UNDERWRITING OBLIGATIONS. 6.1 Subject to Clause 2.2 and 8, the underwriting obligations of the Underwriters under this Agreement shall be discharged in the manner set forth below: (a) The Company, on behalf of the Selling Shareholders, or the Registrar (with a copy to the Company and the Selling Shareholders), as applicable shall, as soon as reasonably practicable (but no later than one (1) Working Day following the Bid/ Offer Closing Date), provide written notice to each Underwriter of the details of any valid Syndicate ASBA Bids procured by such Underwriter (or its respective Sub-Syndicate Members), with respect to the extent of the obligations of such Underwriter, to procure subscribers or purchasers for, or itself subscribe or purchase, such number of Equity Shares representing Bids computed in accordance with Clause 5.2 above and to cause payment of, or pay itself, the Offer Price for such number of Equity Shares. For the avoidance of doubt, the underwriting obligation of the Underwriters under this Clause 6 shall not apply to any Bids that have been submitted by Bidders other than Syndicate ASBA Bidders.
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PROCEDURE FOR EFFECTING DISCHARGE OF UNDERWRITING OBLIGATIONS. 5.1 Subject to Clause 7, the underwriting obligations, if any, as determined under the terms of this Agreement shall be discharged in the manner set forth below: (a) The Company shall ensure that the Registrar shall, as soon as reasonably practicable, prior to the finalization of basis of allotment, provide written notice to each Underwriter of the details of any Bids procured by each Underwriter (or its respective sub-Syndicate members) with respect to which such Underwriter is obligated to procure subscribers or purchasers for, or purchase itself, and to pay, or cause the payment of the Offer Price under Clause 4.
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Related to PROCEDURE FOR EFFECTING DISCHARGE OF UNDERWRITING OBLIGATIONS

  • Discharge of Agreement 7.5.1 If the Developer fails to complete the development after seven (7) years from the date of execution of this Agreement, the Municipality may review this Agreement, in whole or in part, and may: (a) retain the Agreement in its present form; (b) negotiate a new Agreement; or (c) discharge this Agreement.

  • Satisfaction and Discharge of Indenture This Indenture shall upon Company Request cease to be of further effect with respect to Securities of or within any series (except as to any surviving rights of registration of transfer or exchange of such Securities and replacement of such Securities which may have been lost, stolen or mutilated as herein expressly provided for), and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture with respect to such Securities, when (1) either (A) all such Securities theretofore authenticated and delivered (other than (i) Securities which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 3.6 and (ii) Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Trustee or the Company and thereafter repaid to the Company or discharged from such trust, as provided in Section 10.3) have been delivered to the Trustee for cancellation; or (B) all such Securities not theretofore delivered to the Trustee for cancellation (i) have become due and payable, or (ii) will become due and payable at their Stated Maturity within one year, or (iii) are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company, and the Company, in the case of clause (i), (ii) or (iii) above, has deposited or caused to be deposited with the Trustee as trust funds in trust for the purpose money in an amount sufficient to pay and discharge the entire indebtedness on such Securities not theretofore delivered to the Trustee for cancellation, for principal and any premium and interest and any Additional Amounts to the date of such deposit (in the case of Securities which have become due and payable) or to the Stated Maturity or Redemption Date, as the case may be; (2) the Company has paid or caused to be paid all other sums payable hereunder by the Company with respect to the Outstanding Securities of such series; (3) the Company has complied with any other conditions specified pursuant to Section 3.1 to be applicable to the Outstanding Securities of such series; and (4) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture as to such Securities have been complied with. If any Outstanding Securities of such series are to be redeemed prior to their Stated Maturity, whether pursuant to any optional redemption provisions or in accordance with any mandatory sinking fund requirement, the trust agreement evidencing the trust referred to in subclause (B) of clause (1) of this Section 4.1 shall provide therefore and the Company shall make such arrangements as are satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company. Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 6.7, the obligations of the Trustee to any Authenticating Agent under Section 6.14 and, if money shall have been deposited with the Trustee pursuant to subclause (B) of clause (1) of this Section 4.1, the obligations of the Trustee under Section 4.2 and the last paragraph of Section 10.3 shall survive.