Release of Escrow Securities. (1) When an emerging issuer becomes an established issuer, the release schedule for its escrow securities changes.
(2) If an emerging issuer becomes an established issuer 18 months or more after its listing date, all escrow securities will be released immediately.
(3) If an emerging issuer becomes an established issuer within 18 months after its listing date, all escrow securities that would have been released to that time, if the Issuer was an established issuer on its listing date, will be released immediately. Remaining escrow securities will be released in equal installments on the day that is 6 months, 12 months and 18 months after the listing date.
Release of Escrow Securities. 2.1 Release Schedule for an Established Issuer
Release of Escrow Securities. When an emerging issuer becomes an established issuer, the release schedule for its escrow securities changes.
Release of Escrow Securities. The Escrow Securities shall be released by the Escrow Agent in accordance with the following. For the avoidance of doubt, the Escrow Agent will confirm receipt of any notice or correspondence within two (2) hours' of receipt and if no confirmation is received by either the Company or the Lead Investor, the Company shall telephonically advise the Escrow Agent of the prior delivery of such notice or correspondence:
(a) In the event that the Company and Lead Investor advise the Escrow Agent in writing that the Offering has been terminated (the "Termination Notice"), the Escrow Agent shall promptly return the Escrow Securities to the Company.
(b) If prior to 3:00 P.M. Eastern time on the Termination Date, the Escrow Agent receives written notice, in the form of Exhibit A, attached hereto and made a part hereof, and signed by the Company and Lead Investor, stating that the Termination Date has been extended to the Final Termination Date (the "Extension Notice"), then the Termination Date shall be so extended.
(c) Provided that the Escrow Agent does not receive the Termination Notice in accordance with Section 2(a) on or prior to later of the Termination Date or the date stated in the Extension Notice, if any, received by the Escrow Agent in accordance with Section 2(b) above, the Escrow Agent shall, upon receipt of written instructions in a form and substance satisfactory to the Escrow Agent, received from the Company and Lead Investor, release the Escrow Securities to the Subscribers in accordance with such written instructions, which instructions shall be in accordance with this Section 2(c). The Escrow Securities shall be released on or before the Termination Date (or, if extended, the Final Termination Date) in accordance with the written instructions of the Company and the Lead Investor, provided that the Company and the Lead Investor certify the following conditions have been met:
(a) The Lead Investor has approved the release in writing and waived the requirement for the occurrence of a "Qualified Transaction" (as such term is defined in the Purchase Agreement); or
(b) The Company has executed definitive binding documents for a Qualified Transaction and the Qualified Transaction shall close contemporaneously with the release of the Escrow Securities following approval of the Company's stockholders as required by NASDAQ, which Qualified Transaction requires the filing by the Company of a Current Report on Form 8-K with the inclusion of audited financial s...
Release of Escrow Securities. 2.1 Intentionally Deleted
Release of Escrow Securities. Escrow securities will not be released under this Part until the Issuer has delivered to the Escrow Agent a certificate specifying the release schedule, and any other information which the Escrow Agent reasonably requires.
Release of Escrow Securities. On *_____________, 2002, the date the Issuer's securities are listed on a Canadian exchange (the listing date) 1/6 of your escrow securities Three months after the listing date 1/5 of your remaining escrow securities Six months after the listing date 1/4 of your remaining escrow securities Nine months after the listing date 1/3 of your remaining escrow securities 12 months after the listing date 1/2 of your remaining escrow securities 15 months after the listing date your remaining escrow securities
Release of Escrow Securities. 2
2.1 Release Schedule for an Emerging Issuer 3 2.2 Delivery of Share Certificates for Escrow Securities 4 2.3 Replacement Certificates 5 2.4 Release upon Death 5
Release of Escrow Securities. (1) When an emerging issuer becomes an established issuer, the release schedule for its Escrow Securities changes.
(2) If an emerging issuer becomes an established issuer 18 months or more after its Listing Date, all Escrow Securities will be released immediately.
(3) If an emerging issuer becomes an established issuer within 18 months after its Listing Date, all Escrow Securities that would have been released to that time, if the Issuer was an established issuer on its Listing Date, will be released immediately. Remaining Escrow Securities will be released in equal installments on the day that is 6 months, 12 months and 18 months after the Listing Date.
(4) For the purposes of determining the number of Escrow Securities that would have been released as an established issuer pursuant to subsection 3.2(3), the release schedule for established issuers is as follows: On the Listing Date 25% of the Escrow Securities 6 months after the Listing Date 25% of the Escrow Securities 12 months after the Listing Date 25% of the Escrow Securities 18 months after the Listing Date 25% of the Escrow Securities
Release of Escrow Securities. (1) When an emerging issuer becomes an established issuer, the release schedule for its escrow securities changes provided that the Issuer’s Board of Directors must approve such change to the release schedule in order for it to become applicable.
(2) If an emerging issuer becomes an established issuer 18 months or more after its listing date, all escrow securities will be released immediately (subject to the Issuer’s Board of Directors’ approval).
(3) If an emerging issuer becomes an established issuer within 18 months after its listing date, all escrow securities that would have been released to that time, if the Issuer was an established issuer on its listing date, will be released immediately (subject to the Issuer’s Board of Directors’ approval).. Remaining escrow securities will be released in equal installments on the day that is 6 months, 12 months and 18 months after the listing date (subject to the Issuer’s Board of Directors’ approval).
