Common use of Escrow of Share Certificates Clause in Contracts

Escrow of Share Certificates. For the purposes of securing the re-transfer of the shares into the name of the Company in the event of forfeiture and to ensure adequate provision for any tax withholding obligations arising with respect to the Award, certificates for the Award Shares shall be issued in the Grantee's name and shall be held in escrow by, and subject to a security interest in favor of, the Company until restrictions with respect to such shares lapse and all withholding obligations have been satisfied or such shares are forfeited as provided herein; provided, however, that the terms of such escrow shall make allowance for the transactions contemplated by Section 3(B)(i) above. A certificate or certificates representing the Award Shares as to which restrictions have lapsed shall be delivered to the Grantee upon such lapse and the satisfaction of any withholding obligations.

Escrow of Share Certificates. For the purposes of securing the re-transfer of the shares Award Shares into the name of the Company in the event of forfeiture and to ensure adequate provision for any tax withholding obligations arising with respect to the Award, certificates for the Award Shares shall be issued in the Grantee's name and shall be held in escrow by, and subject to a security interest in favor of, the Company until restrictions with respect to such shares lapse and all withholding obligations have been satisfied or such shares are forfeited as provided herein; provided, however, that the terms of such escrow shall make allowance for the transactions contemplated by Section 3(B)(i) above. A certificate or certificates representing the Award Shares as to which restrictions have lapsed shall be delivered to the Grantee upon such lapse and the satisfaction of any withholding obligations.

Escrow of Share Certificates. For the purposes of securing the re-transfer of the shares Award Shares into the name of the Company in the event of forfeiture and to ensure adequate provision for any tax withholding obligations arising with respect to the Award, certificates for the Award Shares shall be issued in the Grantee's ’s name and shall be held in escrow by, and subject to a security interest in favor of, the Company until restrictions with respect to such shares lapse and all withholding obligations have been satisfied or such shares are forfeited as provided herein; provided, however, that the terms of such escrow shall make allowance for the transactions contemplated by Section 3(B)(i3(b)(i) above. A certificate or certificates representing the Award Shares as to which restrictions have lapsed shall be delivered to the Grantee upon such lapse and the satisfaction of any withholding obligations.

Escrow of Share Certificates. For the purposes of securing the re-transfer of the shares Award Shares into the name of the Company in the event of forfeiture and to ensure adequate provision for any tax withholding obligations arising with respect to the Award, certificates for the Award Shares shall be issued in the Grantee's name and shall be held in escrow by, and subject to a security interest in favor of, the Company until restrictions with respect to such shares lapse and all withholding obligations have been satisfied or such shares are forfeited as provided herein; provided, however, that the terms of such escrow shall make allowance for the transactions contemplated by Section 3(B)(i3(b)(i) above. A certificate or certificates representing the Award Shares as to which restrictions have lapsed shall be delivered to the Grantee upon such lapse and the satisfaction of any withholding obligations.