In simplistic terms, income draw down
works best for individuals who can use other sources of income to supplement their drawdown so allowing them to take income towards the lower level of the GAD rates.
Great Basin Gold will have the option to retire the loan 12 months after draw down
at no additional cost.
5% of the relevant average daily price of the common shares for each trading day during the draw down
Azimuth may, during the period commencing on January 26, 2006 and ending 40 days thereafter (distribution period), distribute the common shares acquired from Crystallex pursuant to the draw down
to purchasers through the facilities of the Toronto Stock Exchange (TSX purchasers).
A pricing supplement setting out, among other things, the number of shares issued to Azimuth pursuant to the exercise of the draw down
and the purchase price per share will be filed on SEDAR within two business days after the end of the draw down
This option comes on the heels of the Internal Revenue Service (IRS) notice in May allowing employers to offer extensions that would give employees additional time to incur expenses that draw down
funds in their prior-year FSA.
CLX Investment Company made available to eStrategy Solutions, a Texas-based e-learning provider that develops online training solutions for government entities and other professional organizations, with a draw down
line of credit in the sum of $250,000 to fund the launch its new content delivery platform and grow its business.
The payment begins what will be regular monthly repayments on the draw down
line of credit that CLX provided to fund the growth of eStrategy Solutions.
Although not required to draw down
on the facility, if Poseidis chooses to do so and meets certain requirements, including effectiveness of the registration statement, then the SEDA requires Cornell to buy the stock at 96% of the lowest closing bid price of the Company's common stock as quoted on the Over-the-Counter Bulletin Board or other principal market on which the Company's common stock is traded for the five days immediately following the date the Company delivers a notice requiring Cornell to purchase the shares under the SEDA.
The funding is a draw down
from the $7,000,000 in funding the company secured earlier in the year.