Conversion and Lockup Sample Clauses

Conversion and Lockup. Prior to the Closing Date, the Company shall have caused its directors, controlling shareholders and certain other persons requested by the Purchasers to agree to “lockup” and not sell their shares of Common Stock of the Company, pursuant to documentation, and on terms and conditions, acceptable to the Purchasers.
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Conversion and Lockup. Prior to the Closing Date, the Company shall cause the holders of its existing Series A Preferred Stock, Series B Preferred Stock and its existing convertible note holders to convert their respective outstanding preferred stock and debt obligations into Common Stock of the Company; provided that an aggregate principal amount of up to $1,000,000 of existing indebtedness of the Company and/or a Subsidiary of the Company, as the case may be, shall be permitted to remain outstanding so long as such indebtedness is subject to a Subordination Agreement (as defined below) in form and substance satisfactory to the Purchaser. Furthermore, prior to the Closing Date, the Company shall cause the holders of its existing Series A Preferred Stock, Series B Preferred Stock, its existing convertible note holders and certain other persons requested by the Purchaser to agree to “lockup” and not sell its shares of Common Stock of the Company, pursuant to documentation, and on terms and conditions, acceptable to the Purchaser.
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Conversion and Lockup. Prior to the date of an effective registration statement covering the resale of the Common Stock issuable upon conversion of the Notes and exercise of the Warrants (“Resale Registration Statement”), the Company shall have caused its officers, directors, controlling shareholders and certain other persons requested by the Purchasers to agree to "lockup" and not sell their shares of Common Stock of the Company, pursuant to documentation, and on terms and conditions, acceptable to the Purchasers.
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Conversion and Lockup. Prior to the Closing Date, the Company shall cause certain managers of the Company requested by the Purchaser to convert at least $7,000,000 of their respective outstanding debt obligations into restricted Common Stock of the Company, which shares of Common Stock shall not have any registration rights..
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Conversion and Lockup. Prior to the Closing Date, the Companies shall cause certain managers of the Companies requested by Laurus to convert at least $7,000,000 of their respective outstanding debt obligations into restricted Common Stock of EFTI, which shares of Common Stock shall not have any registration rights.
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Related to Conversion and Lockup

  • Conversion of Merger Sub Capital Stock Each share of common stock, par value $0.01 per share, of Merger Sub issued and outstanding immediately prior to the Effective Time shall be converted into and become one newly issued, fully paid and non-assessable share of common stock of the Surviving Corporation.

  • CONSOLIDATION, MERGER, CONVEYANCE OR TRANSFER Section 801. Company May Consolidate, Etc.,

  • TAKING OF RECORD; STOCK AND WARRANT TRANSFER BOOKS In the case of all dividends or other distributions by the Company to the holders of its Common Stock with respect to which any provision of Section 4 refers to the taking of a record of such holders, the Company will in each such case take such a record and will take such record as of the close of business on a Business Day. The Company will not at any time, except upon dissolution, liquidation or winding up of the Company, close its stock transfer books or Warrant transfer books so as to result in preventing or delaying the exercise or transfer of any Warrant.

  • Merger Consolidation or Conversion of the Depositor, the Mortgage Loan Seller, the Master Servicer, the Special Servicer or the REMIC Administrator. Subject to the following paragraph, the Depositor, the Mortgage Loan Seller, the Master Servicer, the Special Servicer and the REMIC Administrator each will keep in full effect its existence, rights and franchises as a corporation or other business organization under the laws of the jurisdiction of its organization, and each will obtain and preserve its qualification to do business as a foreign corporation or otherwise in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, the Certificates or any of the Mortgage Loans and to perform its respective duties under this Agreement. The Depositor, the Mortgage Loan Seller, the Master Servicer, the Special Servicer and the REMIC Administrator each may be merged or consolidated with or into any Person, or transfer all or substantially all of its assets (which, as to the Master Servicer and the Special Servicer, may be limited to all or substantially all of its assets relating to the business of mortgage loan servicing) to any Person, in which case any Person resulting from any merger or consolidation to which the Depositor, the Mortgage Loan Seller, the Master Servicer, the Special Servicer or the REMIC Administrator shall be a party, or any Person succeeding to the business of the Depositor, the Mortgage Loan Seller, the Master Servicer, the Special Servicer or the REMIC Administrator, shall be the successor of the Depositor, the Mortgage Loan Seller, the Master Servicer, the Special Servicer or the REMIC Administrator, as the case may be, hereunder, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding; provided, however, that no successor or surviving Person shall succeed to the rights of the Master Servicer, the Special Servicer, or the Mortgage Loan Seller unless such succession will not result in any withdrawal, downgrade or qualification of the rating then assigned by [either] Rating Agency to any Class of Certificates (as confirmed in writing).

  • Casual Conversion A casual Employee, who has been engaged by the Employer on a regular and systematic basis for a period in excess of six-weeks, thereafter, will have their contract of employment converted to permanent employment unless otherwise agreed in writing between the parties. Regular and systematic shall be defined as an average of 4 days or more, per week, over 6 weeks. Eligible current employees will be transitioned to full time no later than 6 weeks from the date of approval of this agreement.