Existing Preferred Stock条款:
The terms set forth above for the Series [_] Preferred Stock are subject to a review of the rights, preferences and restrictions for the existing Preferred Stock. Any changes necessary to conform the existing Preferred Stock to this term sheet will be made at the Closing.]
不知各位对这里的subject to的用法有何看法,我觉得很别扭。
我们知道,subject to有很多意思,在涉及其前后两者关系的用法中,B is subject to A的意思是A说了算,A>B。我们假设B部分针对的是B序列优先股(本轮融资发行的股份),A部分说的是A序列优先股(上轮融资发行的股份)。这样第一句的意思就是:
上述针对B序列优先股的条款 are subject to 对A序列优先股的权利、优先权和限制的审查。即对A的权利的审查>B的条款。
但此段第二句说的却是使A符合B所需的变化需在何时作出,即B说了算。To conform A to B.
这样的话此段前后两句是相互矛盾的。而问题就出在那个subject to上。前一句的正确表述应该是:
The rights, preferences and restrictions for the existing Preferred Stock are subject to the terms set forth above for the Series [_] Preferred Stock.
欢迎各位拍砖。