RELEASE OF ADJUSTMENT SHARES. In the event (i) the registration statement required under the Registration Right Agreement is not effective under the Securities Act by no later than June 30, 2008 (the "Trigger Date") or (ii) the closing stock price of the Company's Common Stock for any day prior to the Trigger Date is less than $1.00 per share, then in each such instance the Company hereby authorizes the Purchaser to direct the Escrow Agent immediately to release the Adjustment Shares to the Purchaser and the Company shall join in such direction, provided that the Escrow Agent may act solely on the direction of the Purchaser.
Appears in 4 contracts
Samples: Securities Purchase Agreement (Global Resource CORP), Securities Purchase Agreement (Global Resource CORP), Securities Purchase Agreement (Global Resource CORP)
