MasterExchange shall, in connection with an Initial Music Offering, contact Opus Investors to offer the opportunity, on a first-come, first-served basis, to subscribe for more Royalty Shares than what is otherwise available to the public during an Initial Music Offering.
In the event that an Opus Investor is offered and confirmed by MasterExchange to subscribe for more Royalty Shares during an Initial Music Offering than what is otherwise available to the public (the “Active Opus Investor”), the following terms and conditions shall apply to the Active Opus Investor as part of their Active Opus Investor commitments.
During an Initial Music Offering, Active Opus Investors can subscribe and purchase a higher allocation of Royalty Shares than what is otherwise available to other Investors (including Opus Investors that were not selected). The maximum subscription allocation shall be determined by MasterExchange and communicated to the Active Opus Investors.
The Active Opus Investor acknowledges and agrees that there is no guarantee that the Active Opus Investor will receive the maximum possible allocation of Royalty Shares. However, the Active Opus Investor shall always be guaranteed a minimum allocation that exceeds the maximum allocation otherwise offered to Investors during the Initial Music Offering. The minimum allocation shall also be determined by the sole discretion of MasterExchange and communicated to the Active Opus Investor.
The Active Opus Investor shall deposit the maximum EUR investment commitment to the Active Opus Investor’s account on the Platform and either (i) place a subscription order during the Initial Music Offering for the maximum possible allocation of Royalty Shares or (ii) have MasterExchange place such order on behalf of the Active Opus Investor. Upon placing such a subscription order, the maximum investment commitment will be reserved for the remaining duration of the Initial Music Offering.
Upon allocation of Royalty Shares, the corresponding investment amount will be debited from the Active Opus Investor’s investment commitment, and, if applicable, any remaining EUR balance will be converted into a Limit Order to buy Royalty Shares on Secondary Trading. The Limit Order shall be placed at a price equal to the cost at which the Royalty Shares were offered during the Initial Music Offering. The Active Opus Investor can cancel the Limit Order whenever they see fit.
The Active Opus Investor hereby acknowledges and agrees that the Active Opus Investor shall, under no circumstances and at any given point in time during Secondary Trading, offer Royalty Shares, via Limit Orders, that exceed five percent (5%) of the total amount of Royalty Shares issued by the corresponding Master Royalty Recipient. The Active Opus Investor acknowledges that this restriction is in place to ensure the stability and integrity of the Platform and to prevent any single Investor from exerting undue influence on the Secondary Trading market.
Notwithstanding the above, the Active Opus Investor may always accept offers that are made via the “Make Offer” function on Royalty Shares that belong to the Active Opus Investor, regardless of the amount of offers made.
In the event that an Opus Investor is not verified as an Active Opus Investor, the Opus Investor may still participate in the Initial Music Offering, however subject to the general Investor rules as per the corresponding White Paper of the Initial Music Offering