Common use of Restrictions; Forfeiture Clause in Contracts

Restrictions; Forfeiture. The Restricted Stock under the Award is restricted in that it may not be sold, transferred or otherwise alienated or hypothecated until the restrictions enumerated in this Agreement and the Plan are removed or expire as contemplated in Section 5 or 6 of this Agreement. The Restricted Stock is also restricted in the sense that it may be forfeited to the Company (the “Forfeiture Restrictions”). You hereby agree that if the Restricted Stock is forfeited, as provided in Section 6, the Company shall have the right to deliver the Restricted Stock to the Company’s transfer agent for, at the Company’s election, cancellation or transfer to the Company.

Appears in 5 contracts

Samples: Restricted Stock Agreement, Restricted Stock Agreement (NEP Group, Inc.), Restricted Stock Agreement (Clayton Williams Energy Inc /De)

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Restrictions; Forfeiture. The Restricted Stock under the Award is restricted in that it may not be sold, transferred or otherwise alienated or hypothecated until the restrictions enumerated in this Agreement and in the Plan are removed or expire lapse as contemplated in Section 5 or 6 of this Agreement. The Restricted Stock is also restricted in the sense that it may be forfeited to the Company (the “Forfeiture Restrictions”). You The Grantee hereby agree agrees that if the Restricted Stock is forfeited, as provided in Section 6, the Company shall have the right to deliver the Restricted Stock to the Company’s transfer agent for, at the Company’s election, cancellation or transfer to the Company.

Appears in 1 contract

Samples: Restricted Stock Agreement (Global Medical REIT Inc.)

Restrictions; Forfeiture. The Restricted Stock under subject to the Award is restricted in that it may not be sold, transferred or otherwise alienated or hypothecated until the restrictions enumerated in this Agreement and in the Plan are removed or expire lapse as contemplated in Section 5 or 6 of this Agreement. The Restricted Stock is also restricted in the sense that it may be forfeited to the Company (the “Forfeiture Restrictions”). You The Grantee hereby agree agrees that if the Restricted Stock is forfeited, as provided in Section 6, the Company shall have the right to deliver the Restricted Stock to the Company’s transfer agent for, at the Company’s election, cancellation or transfer to the Company.

Appears in 1 contract

Samples: Restricted Stock Agreement (Centennial Resource Development, Inc.)

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Restrictions; Forfeiture. The Except as provided in the Plan, the Restricted Stock under the Award is restricted in that it may not be sold, transferred or otherwise alienated or hypothecated until the these restrictions enumerated in this Agreement and the Plan are removed or expire as contemplated in Section 5 or 6 of this AgreementAgreement and as described in the Notice of Grant. The Restricted Stock Award is also restricted in the sense that it may be forfeited to the Company (the “Forfeiture Restrictions”). You hereby agree that if the Restricted Stock Award is forfeited, as provided in Section 6, the Company shall have the right to deliver the forfeited shares of Restricted Stock to the Company’s transfer agent for, at the Company’s election, cancellation or transfer to the Company.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Oasis Petroleum Inc.)

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