Expiration of Covenants. The covenants set forth in this Section 4 (other than the provisions of Section 4.1(m)) shall expire and be of no further force or effect upon the effectiveness of a Qualified Public Offering (as defined in Section 3.5 hereof). After such time, the Investors shall be entitled to receive such annual and quarterly reports as the Company shall distribute to its stockholders generally.
Expiration of Covenants. The Company's obligations under Sections 5.01, 5.02, 5.03, 5.05, 5.06, 5.08 and 5.09 shall terminate at such time as the Purchasers no longer hold any Preferred Shares, Warrants or Warrant Shares.
Expiration of Covenants. The Covenants shall remain in full force and effect on the Property, during the Term to assure that each Workforce Unit shall remain and be maintained as the workforce housing pursuant to Article V and successor ordinances.
Expiration of Covenants. The covenants contained in this Article V shall expire when BH, together with Kirk Xxxxxx, xx individual residing in the State of Utah, and Jeff X. Xxxxxx, xx individual residing in the State of Arizona, no
Expiration of Covenants. The covenants set forth in this Section 4 ----------------------- shall expire and be of no further force or effect upon the effectiveness of a Qualified Public Offering (as defined below). A "Qualified Public Offering" shall mean an effective registration statement for the sale of the Company's shares of Common Stock in a firm commitment underwritten public offering registered under the 1933 Act generating proceeds (before deducting underwriters' commissions and discounts) to the Company of $40,000,000 or more and the price per share to the public is not less than 150% of the Series E purchase price per share, subject to adjustment for stock splits, stock dividends and the like (other that a registration relating solely to employee benefit plans or to a transaction under Rule 145 under the 1933 Act or any successor rule thereto). After such time, the Investors shall be entitled to receive such annual and quarterly reports as the Company shall distribute to its stockholders generally.
Expiration of Covenants. The covenants of GREAT contained in Sections 5.1(g) through (i) shall expire upon the earlier to occur of (i) consummation of a Qualified Public Offering, and (ii) such time as the Purchaser and its Permitted Transferees, in the aggregate, hold less than ten percent (10%) of the outstanding Common Shares (excluding from the number of outstanding Common Shares for purposes of such calculation, Common Shares issued after the Closing Date to which Purchaser's preemptive rights set forth in Section 5.1(i) did not apply).
Expiration of Covenants. The covenants set forth in this Section 3 (other than those set forth in Section 3.1(a)) shall expire and be of no further force or effect upon the first sale of Common Stock of the Company to the public pursuant to a firm underwriting, which sale is effected pursuant to a registration statement filed with, and declared effective by, the SEC under the 1933 Act, at a public offering price of at least $7.50 per share, as presently constituted, and with gross proceeds of not less than $10,000,000.
Expiration of Covenants. The covenants set forth in this Section 4 shall expire and be of no further force or effect upon the effectiveness of a Qualified Public Offering.
Expiration of Covenants. If the Closing occurs, the covenants of the Vendors and Voyageur contained in Articles 5, 7 and 9 (except section 9.3) shall be deemed to have expired at the Time of Closing and any of such covenants which were not fulfilled prior to the Time of Closing shall be deemed to have been irrevocably waived by the Purchaser, except to the extent that a certificate provided to the Purchaser as contemplated in subsection 8.1(b) is incorrect in which case the sole and exclusive remedy of the Purchaser against the Vendors in respect of such incorrect certificate shall be to make a claim against the Warranty Holdback Amount.
Expiration of Covenants. The covenants set forth in this Section 4 shall expire and be of no further force or effect upon the earlier of (i) the effectiveness of a Qualified Public Offering (as defined in Section 3.5 hereof) or (ii) the effectiveness of a registration statement for the sale of the Company’s shares of Common Stock in the Company’s first IPO in connection with which all shares of Preferred Stock have converted into shares of Common Stock. After such time, the Investors shall be entitled to receive such annual and quarterly reports as the Company shall distribute to its stockholders generally.
