Initial Stock Payment Clause Samples
The Initial Stock Payment clause defines the obligation for one party to provide a specified amount of stock to another party at the outset of an agreement. Typically, this clause outlines the number of shares, the class or type of stock, and the timing or conditions under which the stock is to be issued, such as upon signing the contract or achieving a particular milestone. Its core function is to ensure that the recipient receives an agreed-upon equity interest as part of the consideration for entering into the agreement, thereby aligning incentives and clarifying the terms of the initial compensation.
Initial Stock Payment. Upon execution of this Agreement and the Assignment required by Paragraph 1.01 above [original agreement], Developer shall receive twenty thousand shares of restricted stock in Company.
Initial Stock Payment. Within 30 days after the Closing, the Buyer shall issue and deliver to the Seller a certificate, registered in the name of the Seller, representing a number of shares of Buyer Stock equal to the Initial Stock Payment.
Initial Stock Payment. Sellers agree and acknowledge that the Initial Stock Payment will be acquired for investment purposes only and not with a view to the resale or distribution of any part thereof, and that Sellers will not offer, sell or otherwise dispose of shares of Purchaser Preferred Stock or any shares of Purchaser Common Stock issuable upon conversion of shares of Purchaser Preferred Stock that may be issued to them pursuant to this Agreement other than in compliance with all applicable laws, including, if applicable, Rule 144 promulgated under the Securities Act. Sellers also agree and acknowledge that the Purchaser Preferred Stock that may be issued pursuant to this Agreement are “restricted securities” under the Securities Act. Sellers further agree and acknowledge that any shares of Purchaser Preferred Stock issued to Sellers pursuant to this Agreement will be stamped or imprinted with a legend in substantially the following form: “THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT AND UNDER APPLICABLE STATE SECURITIES LAWS OR UNLESS BRIDGELINE DIGITAL, INC. SHALL HAVE RECEIVED AN OPINION OF COUNSEL THAT THE REGISTRATION OF SUCH SECURITIES UNDER THE SECURITIES ACT AND UNDER THE PROVISIONS OF APPLICABLE STATE SECURITIES LAWS IS NOT REQUIRED.”
Initial Stock Payment. Delivery of Initial Stock Payment to --------------------- the Shareholders as required in paragraph 1.4.1.
Initial Stock Payment. Within 30 days after the Closing Date, Zanett shall issue and deliver to each of the Sellers a certificate, registered in the name of such Seller, representing a number of shares of Zanett Stock equal to fifty percent (50%) of the Initial Stock Payment.
Initial Stock Payment. Subject to the holdback of the Indemnity Escrow Shares provided for in Section 2.6(f) below, at the Closing, Parent shall issue, as allocated herein, to the PSR Holdings Shareholders and the PSR Recruiting Shareholder, an aggregate of 3,418,795 shares of Parent Common Stock. The shares of Parent Common Stock issuable to the PSR Holdings Shareholders and the PSR Recruiting Shareholder pursuant to this Section 2.6(c)(i)(A) shall be referred to as the "Initial Stock Payment."
Initial Stock Payment. A number of shares (the "Initial Shares") --------------------- of common stock, par value $.005 per share, of OpSec (the "Common Stock"), delivered to Seller at Closing equal to the lesser of (a) 300,000 Initial Shares, or (b) a number of Initial Shares which, when multiplied by the arithmetic average of the market bid price for the Common Stock for the twenty (20) trading days ending the day before Closing reported on the NASDAQ Stock MarketSM on the Closing Date equals $2,000,000, excluding fractional shares, provided, however, that notwithstanding the reported market bid prices, the number of Initial Shares shall not be less than 200,000 shares of Common Stock. The Initial Shares shall be subject to a registration rights agreement substantially in the form specified by EXHIBIT A attached hereto and incorporated herein by this reference (the "Registration Rights Agreement").
Initial Stock Payment. An initial stock payment of US --------------------- $3,500,000 worth of Applied Digital, Inc. ("ADSX") Class A common stock, $0.01 par value, shall be delivered at Closing by the Buyer to the Shareholders ("Initial Stock Payment"). The Shareholders acknowledge, understand and agree that the Initial Stock Payment shall be applied towards the repayment of any Bonds not converted into shares of the Company's common stock ("1st Repayment") and towards the repayment of that certain loan with Mezzanin Kapital A/S dated August 15, 2000 (the "Mezzanin Loan"), including any expenses and fees associated with the repayment of the Mezzanin Loan, as negotiated by the Management Shareholders with Mezzanin Kapital A/S, whereby no further obligations under the Mezzanin Loan exist and the Mezzanin Loan is cancelled ("2nd Repayment") to the extent any such amounts are not paid with the proceeds of the Loan referred to in paragraph 7.
Initial Stock Payment. Within five Business Days after the later to occur of (i) the delivery of the Final Computation of the Fiscal 2005 Average Monthly Gross Profit and (ii) the Closing, Buyer shall issue and deliver to the Stockholder certificates, registered in the name of the Stockholder, representing a number of shares of Buyer Common Stock equal to the Initial Stock Payment, as adjusted pursuant to Section 2.3(a) above.
Initial Stock Payment. Upon the consummation of the Acquisition, the Sellers will be the sole record and beneficial holder of all shares represented by the Initial Stock Payment.