Common use of Subscription and Closing Clause in Contracts

Subscription and Closing. 1.1 The Subscriber irrevocably subscribes for the Shares at the subscription price and agrees to purchase, in accordance with the terms of this Subscription Agreement, the number of Shares set out on the cover page hereof and, upon execution of this Subscription Agreement, the Subscriber agrees to provide the Co-Operative with funds payable to the Co-Operative in the amount of the aggregate subscription price for such Shares. Subscriber acknowledges and agrees Co-Operative will not consider Subscriber’s Subscription under this Subscription Agreement until receipt of the subscription price for the Shares has been verified. 1.2 The Subscriber’s subscription for the Shares evidenced by the Subscriber’s execution of this Subscription Agreement is subject to acceptance or rejection in whole or in part by the Board of the Co-Operative in its sole discretion and the Co-Operative reserves the right to allot to the Subscriber less than the number of Shares subscribed for. The acceptance of subscriptions for Shares by the Co-Operative is conditional upon the completion and delivery of all documentation relating to a subscription in form and substance satisfactory to the Co-Operative. 1.3 The issue and sale of the Shares to the Subscriber are conditional upon such issue and sale being exempt from the Offering Statement requirements of the Co-Operative Corporations Act (Ontario) and the Subscriber acknowledges and agrees with the Co-Operative that the Co-Operative is relying upon the representations, warranties and covenants of the Subscriber contained herein in connection therewith.

Subscription and Closing. 1.1 The Subscriber irrevocably subscribes for the Shares at the subscription price and agrees to purchase, in accordance with the terms of this Subscription Agreement, the number of Shares set out on the cover page hereof and, upon execution of this Subscription Agreement, the Subscriber agrees to provide the Co-Operative with funds payable to the Co-Operative in the amount of the aggregate subscription price for such Shares. Subscriber acknowledges and agrees Co-Operative will not consider Subscriber’s Subscription under this Subscription Agreement until receipt of the subscription price for the Shares has been verified. 1.2 The Subscriber’s subscription for the Shares evidenced by the Subscriber’s execution of this Subscription Agreement is subject to acceptance or rejection in whole or in part by the Board of the Co-Operative in its sole discretion and the Co-Operative reserves the right to allot to the Subscriber less than the number of Shares subscribed for. The acceptance of subscriptions for Shares by the Co-Operative is conditional upon the completion and delivery of all documentation relating to a subscription in form and substance satisfactory to the Co-Operative. 1.3 The issue and sale of the Shares to the Subscriber are conditional upon such issue and sale being exempt from the result of an Offering Statement dated June 23, 2016 under the requirements of the Co-Operative Corporations Act (Ontario) and the Subscriber acknowledges and agrees with the Co-Operative that the Co-Operative is relying upon the representations, warranties and covenants of the Subscriber contained herein in connection therewith.