RESTRICTION ON OTHER ACTION. The CEO shall not take any action or fail to take any action which shall result in the Company being unable to maintain the Company’s status as an S Corporation. This provision shall require, without limitation, that the CEO notify the Company in writing prior to the CEO ceasing to qualify as an eligible shareholder of an S Corporation and permit the Company to repurchase all shares of stock owned by the CEO.
Appears in 2 contracts
Samples: Restricted Stock Agreement (DT Credit Company, LLC), Restricted Stock Agreement (DT Credit Company, LLC)
RESTRICTION ON OTHER ACTION. The CEO shall not take any action or fail to take any action which shall result in the Company being unable to maintain the Company’s status as an S Corporation. This provision shall require, without limitation, that the CEO notify the Company in writing prior to the CEO ceasing to qualify as an eligible WEST\245959304.8 shareholder of an S Corporation and permit the Company to repurchase all shares of stock owned by the CEO.
Appears in 1 contract
Samples: Restricted Stock Agreement (Drivetime Automotive Group Inc)
RESTRICTION ON OTHER ACTION. The CEO shall not take any action or fail to take any action which shall result in the Company being unable to maintain the Company’s status as an S Corporation. This provision shall require, without limitation, that the CEO notify the Company in writing prior to the CEO ceasing to qualify as an eligible WEST\247678809.1 shareholder of an S Corporation and permit the Company to repurchase all shares of stock owned by the CEO.
Appears in 1 contract
Samples: Restricted Stock Agreement (Drivetime Automotive Group Inc)
