IPO Contingency. For the avoidance of doubt, the effectiveness of this Agreement is contingent upon the consummation of the IPO, and if the IPO is not consummated by December 1, 2006 this Agreement shall be null and void.
IPO Contingency. The last sentence of Section 4 of the Agreement is hereby deleted in its entirety and replaced as follows: In the event that the IPO Contingency shall not be satisfied on or before September 30, 2010 or if the other Closing Contingencies set forth in this Section 4 have not been satisfied on or before the Closing Date (other than by reason of Purchaser’s failure to comply in all material respects with its obligations under this Agreement), Purchaser shall have the right to terminate this Agreement by written notice to Sellers, whereupon, provided Purchaser has not exercised the Second Extension Option, Purchaser shall be entitled to a return of the Deposit, less, if Purchaser has exercised the First Extension Option, the First Extension Payment, and thereafter Sellers and Purchaser shall have no further obligations or liabilities hereunder, except for those obligations or liabilities which expressly survive the termination of this Agreement.
IPO Contingency. The Deposit shall be refundable in the event that Buyer does not successfully complete Buyer’s initial public offering (“IPO”) in an amount not less than $75,000,000 on or before December 6, 2016, and as otherwise provided herein. Buyer agrees to keep Seller advised as to the status of the IPO and/or other capital raises.”
IPO Contingency. The parties acknowledge and agree that, in the event that the Company has not effected its initial public offering of securities pursuant to an effective registration statement on Form S-1 under the Securities Act of 1933, as amended, as of December 31, 2008, the Initial Grant and the Performance Grant shall be rescinded and of no force or effect, and the parties shall negotiate in good faith to reach a mutually agreeable compensation program in replacement of the Initial Grant and the Performance Grant.
IPO Contingency. Notwithstanding the provisions of Sections 2.1 and 2.2 of this Agreement, if the IPO Date has not occurred prior to April 1, 2006, then Employer shall on April 1, 2006 commence paying Executive's outstanding Accrued Salary and Severance Payments at the rate of Twenty-Five Thousand Dollars ($25,000.00) per month until any and all outstanding Accrued Salary and Severance Payments have been paid in full; PROVIDED, HOWEVER, that if the IPO Date occurs at any time after April 1, 2006 but prior to the payment in full of all outstanding Accrued Salary and Severance Payments, Employer shall increase its payments to Executive hereunder so that all outstanding Accrued Salary and Severance Payments will be fully paid by no later than the earlier of (i) twelve (12) months after the IPO Date or (ii) the date all outstanding Accrued Salary and Severance Payments would have been fully paid at the rate of $25,000.00 per month, commencing on April 1, 2006.
