Release of Shares from Escrow. The Corporation will release the Shares to Executive as such Shares become free of the restrictions on resale set forth in Section 4; provided, that, Executive has paid to the Corporation an amount sufficient (or the Corporation has repurchased a sufficient number of Shares) to satisfy any taxes or other amounts required by any governmental entity to be withheld and paid over to such governmental entity for Executive’s account.
Release of Shares from Escrow. (a) The Shares being issued into Escrow hereby shall be released to the Shareholders from Escrow following registration. It is understood that the shares following registration will be subject to Rule 144 of the SEC in the same manner as all Directors and Officers of IVP. The shareholders will consult with the Chairman and CEO with regard to any disposition of shares such that any disposition shall be done in an orderly manner and in keeping with the best interests of the all the shareholders of the company and its management.
Release of Shares from Escrow. 3.1 Xxxxxx shall deposit the Escrowed Shares with the Escrow Agent and subject to the terms and conditions of the Escrow Agreement. Subject to the terms of the Escrow Agreement, the Escrowed Shares will be released to Xxxxxx upon the occurrence of the following events (the “Xxxxxx Milestones”):
Release of Shares from Escrow. Upon the exercise of the options or ----------------------------- warrants described on Schedule 1 attached to this Agreement or upon the need of the Company, in the sole discretion of the Board, to issue Common Stock to the individuals or entities described on Schedule I (such obligations of the Company ---------- to issue its Common Stock are collectively referred to herein as the "Stock Issuance Obligations"), Bernstein agrees to release to the Xxxxxxx any and all Shares required to satisfy the Stock Issuance Obligations, provided that Bernstein's obligations hereunder xxxxx xx xxmited to the Shares. Shares subject to a Stock Issuance Obligation shall be granted to Bernstein upon (i) the expiratixx xx xxxmination of the Stock Issuance Obligation, (ii) the direction of the Board, in its sole discretion or (iii) the termination of this Agreement by written consent of both parties hereto. Any Shares otherwise subject to, and not yet released from, the forfeiture restrictions hereunder as of the date of the termination of the employment of Bernstein by the Company shall be xxxxxxxx by Bernstein to the Company.
Release of Shares from Escrow. The Escrow Agent will hold the Certificates until they are released. A Certificate, and the attendant stock power, shall be released to Pattxxxxx xxxn April 1, 1998 and upon each succeeding April 1 while he is employed by the Company, until all Certificates have been released to Pattxxxxx xx forfeited to the Company pursuant to the terms of the Stock Agreement.
Release of Shares from Escrow. Maker acknowledges that if Payee notifies Xxxxxx & Xxxxx LLP that Payee has made the payment referenced in Section 1, Xxxxxx & Eilen LLP will be authorized to release from escrow to Payee 70,000,000 of the Shares, except that Payee will not be entitled to have Shares released to it from escrow if release of those Shares would cause Payee to beneficially own more than 4.9% of the outstanding shares of Marker’s common stock.
Release of Shares from Escrow. Upon the satisfaction of all obligations ----------------------------- under the Note, the Pledgor may deliver to the Pledgee a written notice requesting that the Escrowed Certificates, together with any related stock powers, be delivered to him. The Pledgee shall, within ten (10) days after such request, deliver to the Pledgor either (a) the Escrowed Certificates and related stock powers or (b) a written statement that one or more obligations under the Note remains unsatisfied, in which latter case the Pledgee shall withhold delivery of the Escrowed Certificates and continue to hold and dispose of the same as otherwise provided herein.
Release of Shares from Escrow. Provided no claims have been asserted against SELLER or DirectCom 150,000 of the Escrowed Shares will be released from escrow immediately following SELLER providing the initial funding for DirectCom as agreed with his present shareholders of DirectCom. The remaining 150,000 Escrowed Shares will be released within seven (7) days following DirectCom reaching a $50,000 monthly revenue level or one (1) year from closing, whichever is earlier.
Release of Shares from Escrow. During the 365 days following the Closing Date, the average of the highest twenty consecutive day share price ("HSP") as provided by the closing price per share as quoted by the OTC Bulletin Board ("OTCBB") or similar quotation will be determined. The HSP will be used to determine the percentage, if any, of the Excess Shares that will be returned to the Company from escrow if there are shares in escrow as determined in Section 1 (c). The floor price ("FP") for these escrow calculations will be 125% of the Purchase Price, and the ceiling price ("CP") will be 200% of the Purchase Price or $15.00, whichever is greater.
Release of Shares from Escrow. The Award Shares shall be issued to you as of the Grant Date but shall be nontransferable and shall not be distributed to you until the earlier of: (i) the date on which you cease to provide Service to the Company for any reason other than Cause; and (ii) the effective date of a Change in Control of the Company (the “Distribution Date”). In the event of your termination of Service for Cause, you shall immediately forfeit all of the Award Shares for no consideration and upon the request of the Administrator you shall deliver to the Company a stock power, endorsed in blank.
