Common use of Conditions to Issuance of Stock Clause in Contracts

Conditions to Issuance of Stock. The Company shall not be required to issue or deliver any certificate or certificates for shares of stock or enter the Employee’s name as the stockholder of record on the books of the Company pursuant to this Agreement prior to fulfillment of all of the following conditions: (a) The admission of such shares to listing on all stock exchanges on which such class of stock is then listed; and (b) The completion of any registration or other qualification of such shares under any state or Federal law or under rulings or regulations of the Securities and Exchange Commission or of any other governmental regulatory body, which the Company shall deem necessary or advisable; and (c) The obtaining of any approval or other clearance from any state or Federal governmental agency which the Company shall, in its absolute discretion, determine to be necessary or advisable; and (d) The payment by the Employee of all amounts required to be withheld under federal, state and local tax laws, with respect to the issuance of Restricted Stock and/or the lapse or removal of any of the Restrictions.

Conditions to Issuance of Stock. The Company shall not be required to issue or deliver any certificate or certificates for shares of stock or enter the EmployeeDirector’s name as the stockholder of record on the books of the Company pursuant to this Agreement prior to fulfillment of all of the following conditions: (a) The admission of such shares to listing on all stock exchanges on which such class of stock is then listed; and (b) The completion of any registration or other qualification of such shares under any state or Federal law or under rulings or regulations of the Securities and Exchange Commission or of any other governmental regulatory body, which the Company shall deem necessary or advisable; and (c) The obtaining of any approval or other clearance from any state or Federal governmental agency which the Company shall, in its absolute discretion, determine to be necessary or advisable; and (d) The payment by the Employee Director of all amounts required to be withheld under federal, state and local tax laws, with respect to the issuance of Restricted Stock and/or the lapse or removal of any of the Restrictions.

Conditions to Issuance of Stock. The Shares, 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, and may be issued in either certificated or book entry form. The Company shall not be required to issue or deliver any certificate or certificates for shares of stock or enter the Employee’s name as the stockholder of record on the books of the Company pursuant to this Agreement Shares prior to fulfillment of all of the following conditions: (a) The admission of such shares Shares to listing on all stock exchanges on which such class of stock Stock is then listed; and; (b) The completion of any registration or other qualification of such shares under any state or Federal federal law or under rulings or regulations of the Securities and Exchange Commission or of any other governmental regulatory body, which the Company shall Committee shall, in its absolute discretion, deem necessary or advisable; and; (c) The obtaining of any approval or other clearance from any state or Federal federal governmental agency which the Company Committee shall, in its absolute discretion, determine to be necessary or advisable; and; (d) The payment lapse of such reasonable period of time following the Issuance Date as the Committee may from time to time establish for reasons of administrative convenience; and (e) The receipt by the Employee Company of full payment for such shares, including payment of all amounts required to be withheld which, under federal, state and or local tax lawslaw, with respect the Company (or other employer corporation) is required to the withhold upon issuance of Restricted Stock and/or the lapse or removal of any of the Restrictionssuch Shares.