Common use of Conditions to Issuance of Stock Certificates Clause in Contracts

Conditions to Issuance of Stock Certificates. The shares of stock deliverable upon the exercise of an Option, or any portion thereof, may be either previously authorized but unissued shares or issued shares, which have then been reacquired by the Company. Such shares shall be fully paid and nonassessable. The Company shall not be required to issue or deliver any certificate or certificates for shares of stock purchased (if certified, or if not certified, register the issuance of such shares on its books and records) upon the exercise of an Option or portion thereof prior to fulfillment of all of the following conditions: (a) The obtaining of approval or other clearance from any state or federal governmental agency which the Committee shall, in its reasonable and good faith discretion, determine to be necessary or advisable; (b) The execution by the Optionee of the Management Stockholder’s Agreement and a Sale Participation Agreement; and (c) The lapse of such reasonable period of time following the exercise of the Option as the Committee may from time to time establish for reasons of administrative convenience or as may otherwise be required by applicable law.

Conditions to Issuance of Stock Certificates. The shares of stock deliverable upon the exercise of an Option, or any portion thereof, may be either previously authorized but unissued shares or issued shares, which have then been reacquired by the Company. Such shares shall be fully paid and nonassessable. The Company shall not be required to issue or deliver any certificate or certificates for shares of stock purchased (if certified, or if not certified, register the issuance of such shares on its books and records) upon the exercise of an Option or portion thereof prior to fulfillment of all of the following conditions:. (a) The obtaining of approval or other clearance from any state or federal governmental agency which the Committee shall, in its reasonable and good faith discretion, determine to be necessary or advisable; (b) The execution by the Optionee of the Management Stockholder’s Agreement and a Sale Participation Agreement; and (c) The lapse of such reasonable period of time following the exercise of the Option as the Committee may from time to time establish for reasons of administrative convenience or as may otherwise be required by applicable law.

Conditions to Issuance of Stock Certificates. The shares Shares of stock deliverable upon the exercise of an the Option, or any portion thereof, may be either previously authorized but unissued shares Shares or issued sharesShares, which have then been reacquired by the Company. Such shares Shares shall be fully paid and nonassessable. The Company shall not be required to issue or deliver any certificate or certificates for shares Shares of stock purchased (if certified, or if not certified, register the issuance of such shares Shares on its books and records) upon the exercise of an the Option or a portion thereof prior to fulfillment of all of the following conditions: (a) The obtaining of approval or other clearance from any state or federal governmental agency which the Committee shall, in its reasonable and good faith discretion, determine to be necessary or advisable; (b) The execution by the Optionee of the Management Stockholder’s Agreement and a Sale Participation Agreement; and (c) The lapse of such reasonable period of time following the exercise of the Option as the Committee may from time to time establish for reasons of administrative convenience or as may otherwise be required by applicable securities law.

Conditions to Issuance of Stock Certificates. The shares Shares of stock deliverable upon the exercise of an the Option, or any portion thereof, may be either previously authorized but unissued shares Shares or issued sharesShares, which have then been reacquired by the Company. Such shares Shares shall be fully paid and nonassessable. The Company shall not be required to issue or deliver any certificate or certificates for shares Shares of stock purchased (if certified, or if not certified, register the issuance of such shares Shares on its books and records) upon the exercise of an the Option or a portion thereof prior to fulfillment of all of the following conditions: (a) The obtaining of approval or other clearance from any state or federal governmental agency which the Committee shall, in its reasonable and good faith discretion, determine to be necessary or advisable; (b) The execution by the Optionee of the Management Stockholder’s Agreement and a Sale Participation Agreement; and (c) The lapse of such reasonable period of time following the exercise of the Option as the Committee may from time to time establish for reasons of administrative convenience or as may otherwise be required by applicable law.

Conditions to Issuance of Stock Certificates. The shares of stock Shares deliverable upon the exercise of an the Option, or any portion thereof, may be either previously authorized but unissued shares Shares or issued sharesShares, which have then been reacquired by the Company. Such shares Shares shall be fully paid and nonassessable. The Company shall not be required to issue or deliver any certificate or certificates for shares Shares of stock purchased (if certified, or if not certified, register the issuance of such shares Shares on its books and records) upon the exercise of an the Option or a portion thereof prior to fulfillment of all of the following conditions: (a) The obtaining of approval or other clearance from any state or federal governmental agency which the Committee shall, in its reasonable and good faith discretion, determine to be necessary or advisable; (b) The execution by the Optionee of the Management Stockholder’s Agreement and a Sale Participation Agreement; and (c) The lapse of such reasonable period of time following the exercise of the Option as the Committee may from time to time establish for reasons of administrative convenience or as may otherwise be required by applicable law.

Conditions to Issuance of Stock Certificates. The shares of stock deliverable upon the exercise of an Option, or any portion thereof, may be either previously authorized but unissued shares or issued shares, which have then been reacquired by the Company. Such shares shall be fully paid and nonassessable. The Company shall not be required to issue or deliver any certificate or certificates for shares of stock purchased (if certified, or if not certified, register the th e issuance of such shares on its books and records) upon the exercise of an Option or portion thereof prior to fulfillment of all of the following conditions: (a) The obtaining of approval or other clearance from any state or federal governmental agency which the Committee shall, in its reasonable and good faith discretion, determine to be necessary or advisable; (b) The execution by the Optionee of the Management Stockholder’s Agreement and a Sale Participation Agreement; and (c) The lapse of such reasonable period of time following the exercise of the Option as the Committee may from time to time establish for reasons of administrative convenience or as may otherwise be required by applicable law.

Conditions to Issuance of Stock Certificates. The shares of stock deliverable upon the exercise of an Option, or any portion thereof, may be either previously authorized but unissued shares or issued shares, which have then been reacquired by the Company. Such shares shall be fully paid and nonassessable. The Company shall not be required to issue or deliver any certificate or certificates for shares of stock purchased (if certified, or if not certified, register the issuance of such shares on its books and records) upon the exercise of an Option or portion thereof prior to fulfillment of all of the following conditions: (a) The obtaining of approval or other clearance from any state or federal governmental agency which the Committee shall, in its reasonable and good faith discretion, determine to be necessary or advisable; (b) The execution by the Optionee of the Management Stockholder’s 's Agreement and a Sale Participation Agreement; and (c) The lapse of such reasonable period of time following the exercise of the Option as the Committee may from time to time establish for reasons of administrative convenience or as may otherwise be required by applicable law.