Delivery of Shares; Compliance with Securities Laws Sample Clauses
The 'Delivery of Shares; Compliance with Securities Laws' clause outlines the procedures and requirements for transferring shares to a party while ensuring adherence to applicable securities regulations. Typically, this clause specifies that shares will only be delivered once all legal requirements, such as registration or exemption from registration, are satisfied, and may require the recipient to provide certain representations or documentation. Its core function is to ensure that the transfer of shares is conducted lawfully, thereby protecting both parties from potential legal liabilities related to securities law violations.
Delivery of Shares; Compliance with Securities Laws. Upon the vesting of any Restricted Stock Units granted hereunder, the Company shall direct its transfer agent to record by electronic book-entry in Participant’s name a number of unrestricted shares of Common Stock equal to the whole number of Restricted Stock Units that become vested hereunder. Nothing herein shall obligate the Company to register the Restricted Stock Units pursuant to any applicable securities law or to take any other affirmative action in order to cause the issuance or transfer of the Restricted Stock Units to comply with any law or regulation of any governmental authority. The Company shall not be required to issue any shares of Common Stock prior to: (a) the obtaining of any approval from any governmental agency which the Company determines to be necessary or advisable; and (b) the Participant’s payment to the Company of any federal, state or local tax or other withholding owed by Participant as a result of vesting of the Restricted Stock Units.
Delivery of Shares; Compliance with Securities Laws. Etc. The Company shall, upon payment of the option price for the number of shares purchased and paid for under any of the options, make prompt delivery of such shares to the Optionee, provided that if any law or regulation requires the Company to take any action with respect to such shares before the issuance thereof, then the date of delivery of such shares shall be extended for the period necessary to complete such action.
Delivery of Shares; Compliance with Securities Laws. Upon the vesting date of the RSUs credited hereunder, the Company shall direct its transfer agent to record in Employee’s name a number of Shares equal to the whole number of RSUs credited hereunder or shall deliver to Employee certificates evidencing such Shares. No Shares shall be issued and no other payment shall be made with respect to fractional RSUs. In the event delivery of such Shares is delayed beyond the vesting date for administrative reasons and the Shares no longer exist on the delivery date, the Company shall deliver to Employee in lieu thereof the securities or other consideration or rights issued or provided in exchange for or in substitution of such Shares. In no event shall payment hereunder occur after March 15 of the year following the year in which the vesting date occurs.
(a) Any payment or any issuance or transfer of Shares to Employee in accordance with the provisions hereof, shall, to the extent thereof, be in full satisfaction of all claims of such person hereunder. The Committee may require Employee to execute a release and receipt therefor in such form as it shall determine.
(b) Any stock certificates issued hereunder shall carry such restrictive legend, and the Company shall provide such written instructions to its transfer agent with respect to the Shares issued hereunder, as the Company may deem necessary or advisable for any purpose, including, without limitation, compliance with the requirements of applicable securities laws.
(c) Nothing herein shall obligate the Company to register any Shares issued hereunder pursuant to any applicable securities law or to take any other affirmative action in order to cause the issuance or transfer of such Shares to comply with any law or regulation of any governmental authority.
Delivery of Shares; Compliance with Securities Laws