Template:Nutshell Equity Derivatives 9.11: Difference between revisions

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Section {{eqderivprov|9.11}}. '''{{eqderivprov|Representation and Agreement}}'''. A party required to deliver {{eqderivprov|Shares}} under a {{eqderivprov|Transaction}} agrees that it will convey, and, on any date that it delivers such {{eqderivprov|Shares}}, represents that it has conveyed, good title to the {{eqderivprov|Shares}} it is required to deliver, free from  
{{eqderivprov|9.11}}. '''{{eqderivprov|Representation and Agreement}}'''. A party delivering {{eqderivprov|Shares}} under a {{eqderivprov|Transaction}} represents, on the date of conveyance, that it has conveyed good title to the necessary {{eqderivprov|Shares}}, free from  
:(i) any lien, charge, claim or other encumbrance (other than a lien routinely imposed on all securities by the relevant {{eqderivprov|Clearance System}}) and any other restrictions whatsoever, including any restrictions under applicable securities laws, without any obligation on the part of the receiver of such {{eqderivprov|Shares}} in connection with that party’s subsequent sale of such {{eqderivprov|Shares}} to deliver an offering document, or comply with any volume or manner of sale restrictions, <br>
:(i) '''Encumbrance''': any [[encumbrance]] (other customary [[lien]]s) or other restrictions, without the receiver having to provide any documents or comply with any volume or manner of sale restrictions, <br>
:(ii) any and all restrictions that any sale, assignment or other transfer of such {{eqderivprov|Shares}} be consented to or approved by any person or entity, including without limitation, the {{eqderivprov|Issuer}} or any other obligor thereon, <br>
:(ii) '''Transfer restrictions''': any restrictions or required consents to transfer of the {{eqderivprov|Shares}} by any person, <br>
:(iii) any limitations on the type or status, financial or otherwise, of any purchaser, pledgee, assignee or transferee of such {{eqderivprov|Shares}}, <br>
:(iii) '''Transferee limitations''': any limitations on who may be transferred such {{eqderivprov|Shares}}, <br>
:(iv) any requirement of the delivery of any certificate, approval, consent, agreement, opinion of counsel, notice or any other document of any person or entity to the {{eqderivprov|Issuer}} of, any other obligor on or any registrar or transfer agent for, such {{eqderivprov|Shares}}, prior to the sale, pledge, assignment or other transfer of such {{eqderivprov|Shares}}, and <br>  
:(iv) '''Certification requirements''':  Any approval, consent, opinion or notice from any person before transfer of the{{eqderivprov|Shares}}, and <br>  
:(v) any registration or qualification requirement or prospectus delivery requirement for such {{eqderivprov|Shares}} pursuant to applicable securities laws. A party required to deliver {{eqderivprov|Shares}} under a {{eqderivprov|Transaction}} also represents that to the extent appropriate for the relevant {{eqderivprov|Clearance System}}, the {{eqderivprov|Shares}} are properly in book-entry form. <br>
:(v) '''Registration''': any registration, qualification or prospectus delivery requirement for such {{eqderivprov|Shares}} under applicable laws.
:(vi) '''Book-entry form''':  Where a {{eqderivprov|Clearance System}} is involved, the {{eqderivprov|Shares}} are properly in book-entry form. <br>

Revision as of 10:21, 12 May 2022

9.11. Representation and Agreement. A party delivering Shares under a Transaction represents, on the date of conveyance, that it has conveyed good title to the necessary Shares, free from

(i) Encumbrance: any encumbrance (other customary liens) or other restrictions, without the receiver having to provide any documents or comply with any volume or manner of sale restrictions,
(ii) Transfer restrictions: any restrictions or required consents to transfer of the Shares by any person,
(iii) Transferee limitations: any limitations on who may be transferred such Shares,
(iv) Certification requirements: Any approval, consent, opinion or notice from any person before transfer of theShares, and
(v) Registration: any registration, qualification or prospectus delivery requirement for such Shares under applicable laws.
(vi) Book-entry form: Where a Clearance System is involved, the Shares are properly in book-entry form.
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