What does 'that ... have not been procured' mean?

[Klpno]

Hello, everyone.

I'd like to ask a question about the meaning of the construction 'that... have not been procured' in the following passage:

Cazenove agrees to act as agent for the Company to procure (either itself or with the assistance of other suitably qualified persons) Placees to subscribe for the Placing Shares pursuant to the Placing, in each case at the Issue Price free of all expenses and otherwise on the terms and subject to the conditions set out in the Information Memorandum and this Agreement and, to the extent that Placees have not been procured to subscribe for all the Placing Shares, itself accept as principal the allotment and issue of the balance of the Placing Shares, and subscribe all such shares, in each case at the Issue Price free of all expenses and on such terms and subject to such conditions as are set out in the [Information Memorandum] and this Agreement, and Cazenove hereby agrees, upon allotment of the relevant shares to Cazenove, to become a member of the Company for such purpose.

What does 'that ... have not been procured' mean?

[Mister Micawber]

.

The fixed phrase is 'to the extent that'. Cf: extent-- 'the point or degree to which something extends; "the extent of the damage"; "the full extent of the law"; "to a certain extent she was right".

Cazenove agrees to accept the balance of the shares for which Placees are not found. To the extent that Placees are not found, Cazenove accepts the unsubscribed shares.
_________________
Native English teacher at Mister Micawber's

[Klpno]

Thank you very much, Mister Micawber!