Lockup Letters Clause Samples
A Lockup Letter is a contractual provision that restricts certain parties from selling, transferring, or otherwise disposing of specified securities for a defined period of time. Typically used in the context of initial public offerings (IPOs) or private placements, these letters bind insiders, major shareholders, or early investors to hold onto their shares for a set duration, such as 90 or 180 days after a public offering. The primary purpose of a Lockup Letter is to prevent a sudden influx of shares into the market, which could depress the stock price and create instability, thereby protecting both the issuing company and new investors.
Lockup Letters. The Company has caused each officer of the Company listed in Annex III hereto to furnish to you, on or prior to the date of this Agreement, a letter or letters, substantially in the form attached hereto as Exhibit A (the “Lockup Agreement”).
Lockup Letters. 32 7.3 CONDITIONS TO OBLIGATION OF THE COMPANY .............................. 32 (a)
Lockup Letters. Parent shall have received (i) a Director and Officer Lockup Letter executed by each director and executive officer of the Company and (ii) a Shareholder Lockup Letter executed by each shareholder of the Company identified on Schedule 6.8(b) hereof as a significant shareholder of the Company.
Lockup Letters. On or prior to the date hereof, the Representative shall have received lockup letters in the form of Exhibit C from each of the executive officers and directors of the Company listed on Schedule D.
Lockup Letters. Each of the directors and executive officers of the Company shall have delivered to the Purchasers a letter in the form of Exhibit D hereto pursuant to which he or she agrees not to offer or sell shares of Common Stock he or she beneficially owns during any time period when any Purchaser is unable to freely offer for sale or to sell any Underlying shares pursuant to an effective registration statement; and
Lockup Letters. On or prior to the date hereof, the Purchasers shall have received lockup letters (i) from each of the executive officers and directors of the Company, other than ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇, in the form of Exhibit C hereto, and (ii) from ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ and from The ▇▇▇▇▇▇▇▇▇ Family Charitable Trust, in the form of Exhibit D hereto. The Company will furnish the Purchasers with such conformed copies of such opinions, certificates, letters and documents as the Purchasers reasonably request. Credit Suisse may in its sole discretion waive on behalf of the Purchasers compliance with any conditions to the obligations of the Purchasers hereunder, whether in respect of an Optional Closing Date or otherwise.
Lockup Letters. The Representatives shall have received from each person who is an executive officer or director of First Coastal and/or the Bank and from each person owning five percent or more of any class of First Coastal's capital stock a written agreement, in the form attached hereto as Exhibit B, to the effect that such person will not, for a period of fifteen (15) months following the date hereof, without the written consent of the Representatives, offer for sale, sell or contract to sell, grant any option for the sale or otherwise dispose of, directly or indirectly, or announce the disposition of, any shares of common stock or any shares of preferred stock, or any securities convertible into or exchangeable for, or any options or rights to purchase or acquire, shares of common stock or preferred stock, of First Coastal, the Trust or the Bank.
Lockup Letters. Each of the directors and executive officers of the Company shall have delivered to the Purchasers a letter in the form of Exhibit E hereto pursuant to which he or she agrees not to offer or sell more than 5% of their aggregate ownership of Common Stock from the Closing Date until six months following the Effectiveness Date; and
Lockup Letters. On or prior to the date hereof, the Purchasers shall have received lockup letters from each of the executive officers and directors of the Company. The Company will furnish the Purchasers with such conformed copies of such opinions, certificates, letters and documents as the Purchasers reasonably request. Credit Suisse may in its sole discretion waive on behalf of the Purchasers compliance with any conditions to the obligations of the Purchasers hereunder, whether in respect of an Optional Closing Date or otherwise.
Lockup Letters. On or prior to the date hereof, the Representative shall have received a lockup letter from each of the directors of the Company and each of the executive officers of the Company that is a reporting person under Section 16 of the Exchange Act.