Common use of Release/Surrender Clause in Contracts

Release/Surrender. The Shares, together with any other assets or securities held in escrow hereunder, shall be subject to the following terms and conditions relating to their release from escrow or their surrender to the Company for cancellation: (a) The certificates for Shares (excluding Dividends) shall be released from escrow and delivered to the Owner as the restrictions on the Forfeitable Shares lapse in accordance with the Schedule or as otherwise set forth herein, upon the request of the Owner. (b) In the event Forfeitable Shares are forfeited hereunder, the certificates representing such forfeited Shares shall be surrendered to the Company. (c) Notwithstanding anything to the contrary contained in this Section 5.3, all Shares (or other assets or securities) released from escrow in accordance with the provisions of Section 5.3(a) hereof shall nevertheless remain subject to the transfer restrictions set forth in Section 3.3 until such provisions terminate in accordance with their terms.

Appears in 4 contracts

Samples: Restricted Stock Agreement (MCG Capital Corp), Restricted Stock Agreement (MCG Capital Corp), Restricted Stock Agreement (MCG Capital Corp)

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Release/Surrender. The Shares, together with any other assets or ----------------- securities held in escrow hereunder, shall be subject to the following terms and conditions relating to their release from escrow or their surrender to the Company for cancellation: (a) The certificates for Shares (excluding Dividends) shall be released from escrow and delivered to the Owner as the restrictions on the Forfeitable Shares lapse in accordance with the Schedule or as otherwise set forth herein, upon the request of the Owner. (b) In the event Forfeitable Shares are forfeited hereunder, the certificates representing such forfeited Shares shall be surrendered to the Company. (c) Notwithstanding anything to the contrary contained in this Section 5.3, all Shares (or other assets or securities) released from escrow in accordance with the provisions of Section 5.3(a) hereof shall nevertheless remain subject to the market stand-off provisions of Section 2.3 above, and the transfer restrictions set forth in Section Sections 3.2 and 3.3 until such provisions terminate in accordance with their terms.

Appears in 4 contracts

Samples: Restricted Stock Agreement (MCG Capital Corp), Restricted Stock Agreement (MCG Capital Corp), Restricted Stock Agreement (MCG Capital Corp)

Release/Surrender. The Shares, together with any other assets or securities held in escrow hereunder, shall be subject to the following terms and conditions relating to their release from escrow or their surrender to the Company for cancellation: (a) The certificates for Shares (excluding Dividends) shall be released from escrow and delivered to the Owner as the restrictions on the Forfeitable Shares lapse in accordance with the Schedule or as otherwise set forth herein, upon the request of the Owner. (b) In the event Forfeitable Shares are forfeited hereunder, the certificates representing such forfeited Shares shall be surrendered to the Company. (c) Notwithstanding anything to the contrary contained in this Section 5.3, all Shares (or other assets or securities) released from escrow in accordance with the provisions of Section 5.3(a) hereof shall nevertheless remain subject to the market stand- off provisions of Section 2.3 above, and the transfer restrictions set forth in Section Sections 3.2 and 3.3 until such provisions terminate in accordance with their terms.

Appears in 2 contracts

Samples: Restricted Stock Agreement (MCG Capital Corp), Restricted Stock Agreement (MCG Capital Corp)

Release/Surrender. The Shares, together with any other assets or securities held in escrow hereunder, shall be subject to the following terms and conditions relating to their release from escrow or their surrender to the Company for cancellation: (a) The certificates for Shares (excluding Dividends) shall be released from escrow and delivered to the Owner as the restrictions on the Forfeitable Shares lapse in accordance with the Schedule or as otherwise set forth herein, upon the request of the Owner. (b) In the event Forfeitable Shares are forfeited hereunder, the certificates representing such forfeited Shares shall be surrendered to the Company. (c) Notwithstanding anything to the contrary contained in this Section 5.3, all Shares (or other assets or securities) released from escrow in accordance with the provisions of Section 5.3(a) hereof shall nevertheless remain subject to the market stand-off provisions of Section 2.3 above, and the transfer restrictions set forth in Section Sections 3.2 and 3.3 until such provisions terminate in accordance with their terms.

Appears in 2 contracts

Samples: Restricted Stock Agreement (MCG Capital Corp), Restricted Stock Agreement (MCG Capital Corp)

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Release/Surrender. The Shares, together with any other assets or securities held in escrow hereunder, shall be subject to the following terms and conditions relating to their release from escrow or their surrender to the Company for cancellation: (a) The certificates for Shares (excluding Dividends) shall be released from escrow and delivered to the Owner as after the restrictions on the Forfeitable Shares lapse in accordance with the Schedule Schedule(s) or as otherwise set forth herein, upon the written request of the OwnerOwner with reasonable advance notice to the Corporate Secretary. (b) In the event If Forfeitable Shares are forfeited hereunder, then the certificates representing such forfeited Shares shall be surrendered to the Company. (c) Notwithstanding anything to the contrary contained in this Section 5.3, all Shares (or other assets or securities) released from escrow in accordance with the provisions of Section 5.3(a) hereof shall nevertheless remain subject to the transfer restrictions set forth in Section 3.3 3.2 until such provisions restrictions terminate in accordance with their termsthe terms of Section 3.2.

Appears in 1 contract

Samples: Restricted Stock Agreement (MCG Capital Corp)

Release/Surrender. The Shares, together with any other assets or securities held in escrow hereunder, shall be subject to the following terms and conditions relating to their release from escrow or their surrender to the Company for cancellation: (a) The certificates for Shares (excluding Dividends) shall be released from escrow and delivered to the Owner as after the restrictions on the Forfeitable Shares lapse in accordance with the Schedule Schedule(s) or as otherwise set forth herein, upon the written request of the OwnerOwner with reasonable advance notice to the Corporate Secretary. (b) In the event If Forfeitable Shares are forfeited hereunder, then the certificates representing such forfeited Shares shall be surrendered to the Company. (c) Notwithstanding anything to the contrary contained in this Section 5.3, all Shares (or other assets or securities) released from escrow in accordance with the provisions of Section 5.3(a) hereof shall nevertheless remain subject to the transfer restrictions set forth in Section 3.3 3.2 until such provisions restrictions terminate in accordance with their termsthe terms of Section 3.2.

Appears in 1 contract

Samples: Restricted Stock Agreement (MCG Capital Corp)

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