Release of Warrants. Warrants will not be released to anyone other than the employee named on the warrant, except with written authorization from that employee.
Release of Warrants. Section 2 of the Escrow Agreement, as amended by Amendment Number 1, is hereby amended by deleting therein each occurrence of the words "October 31, 1999" in their entirety and replacing them with "June 30, 2000" so that Section 2 of the Escrow Agreement is restated as follows (with the defined term "First Anniversary Date" now being used to refer to June 30, 2000):
Release of Warrants. (a) If Notes remain outstanding on June 30, 2000 (the "FIRST ANNIVERSARY DATE") and, so long as Notes remain outstanding, and if the Escrow Agent shall have received written notice in the form of Exhibit A hereto from the Majority Holders (as such term is defined in the Securities Purchase Agreement), then the Escrow Agent shall release Warrants on any one or more occasions in an aggregate amount not to exceed the Eligible Percentage (as defined below) (as of the date of any such notice) as shall be specified in the notice to the Escrow Agent of the amount of Warrants originally placed into escrow pursuant to this Escrow Agreement. Upon the redemption in full of the Notes, and the receipt by the Escrow Agent of written notice in the form of Exhibit B hereto from the Majority Holders, the Escrow Agent shall release Warrants remaining in escrow, to the extent that such Warrants have not been "earned" as set forth in Section 2(b) below, upon such sale or redemption to Holdings. If, upon such redemption, Warrants that have been "earned" but not released shall be released to the holders of the Notes in accordance with Section 2(b) below.
Release of Warrants. (a) If Preferred Stock (or Exchange Debentures (as defined in the Certificate of Designations, Preferences and Rights setting forth the terms of the Preferred Stock (the "Certificate of Designation")) which have been exchanged therefor) remains outstanding on the first anniversary of the Closing Date (the "First Anniversary Date") and has not been redeemed by the Company, then the Escrow Agent shall promptly release all Warrants held in escrow to the applicable Purchaser thereof. Upon the redemption by the Company prior to the First Anniversary Date of all outstanding Preferred Stock (or Exchange Debentures which have been exchanged therefor), the Escrow Agent shall promptly return all Warrants held in escrow to the Company.
(b) The Company will provide, or cause to be provided, to the Escrow Agent all such information as the Escrow Agent may from time to time reasonably request.
(c) In connection with any transfer to any other Person by a Purchaser of its interest in any Warrants held by the Escrow Agent, (i) such Person will execute and deliver to the Escrow Agent an agreement to be bound by the terms of this Escrow Agreement, and following such execution and delivery, such Person will be deemed to be the Purchaser of such Warrants for purposes of this Agreement and (ii) in accordance with Section (f)(2) of the Warrant Certificate, the Company shall exchange with the Escrow Agent new Warrants in the name of such Person and, if such Purchaser's entire interest is not being transferred to such Person, in the name of such Purchaser.
Release of Warrants. Upon the effectiveness of this Amendment in accordance with the provisions of Section 5 of this Amendment, Foothill shall release and deliver to Borrower Warrants currently held by Foothill for the purchase of up to 50,000 shares of the common stock of Borrower at a strike price of $4.40 per share.
Release of Warrants. Sellers shall be responsible for obtaining release of Sirrom Capital Corporation warrants at Sellers' expense at or before Closing; and Sellers shall indemnify and hold Purchaser harmless therefor.
Release of Warrants. The Borrower agrees that it shall release Warrants representing the right to acquire an aggregate of 3% of the fully-diluted Common Stock, of the Borrower (calculated after giving effect to the exercise of such Warrants and all other outstanding warrants, options and other convertible securities in accordance herewith) at the time of such issuance to the Beneficiaries or their designees on the Closing Date. The Borrower agrees that it shall deposit an aggregate of 4.0% of the fully-diluted Common Stock, of the Borrower (calculated after giving effect to the exercise of such Warrants and all other outstanding warrants, options and other convertible securities in accordance herewith) at the time of issuance into escrow pursuant to the Escrow Agreement by the Borrower on the date of this Agreement. The terms of this Agreement shall be in full force and effect with respect to such Warrants, including, without limitation, the anti- dilution provision of Article VI hereof.
Release of Warrants. SECTION 4.1
Release of Warrants. The Borrower agrees that it shall release Warrants representing the right to acquire an aggregate of 425,000 shares of the Common Stock of the Borrower to the Beneficiary or their designees on the Closing Date. The Borrower agrees that it shall deposit an aggregate of 991,664 shares (as the same may be adjusted from time to time pursuant to Articles VI and VIII hereof) of the Common Stock of the Borrower into escrow pursuant to the Escrow Agreement by the Borrower on the date of this Agreement. The terms of this Agreement shall be in full force and effect with respect to such Warrants, including, without limitation, the anti-dilution provision of Article VI hereof.
Release of Warrants. Warrants will not be released to anyone other than the
