Return of Pledged Shares. Upon each conversion by the Pledgee into an excess of 20,000,000 Conversion Shares, the number of Pledged Shares pursuant to this Agreement shall be reduced by the number of Conversion Shares issued to the Pledgee, in 20,000,000 share blocks. The Pledgor and Pledgee shall provide joint written notice to the Escrow Agent of such conversions instructing the Escrow Agent to return to the Pledgor the Pledged Shares being reduced pursuant to this Section 1.3.
Appears in 2 contracts
Samples: Pledge and Escrow Agreement (Icoa Inc), Pledge and Escrow Agreement (Icoa Inc)
Return of Pledged Shares. Upon each conversion by the Pledgee into an excess of 20,000,000 Conversion Shares, the number of Pledged Shares pursuant to this Agreement shall be reduced by the number of Conversion Shares issued to the Pledgee, in 20,000,000 share blocks. The Pledgor and Pledgee shall provide joint written notice to the Escrow Agent of such conversions instructing the Escrow Agent to return to the Pledgor the Pledged Shares being reduced pursuant to this Section 1.31.2.
Appears in 1 contract
Return of Pledged Shares. Upon each conversion by the Pledgee into an excess of 20,000,000 2,000,000 Conversion Shares, the number of Pledged Shares pursuant to this Agreement shall be reduced by the number of Conversion Shares issued to the Pledgee, in 20,000,000 share blocks. The Pledgor and Pledgee shall provide joint written notice to the Escrow Agent of such conversions instructing the Escrow Agent to return to the Pledgor the Pledged Shares being reduced pursuant to this Section 1.31.2.
Appears in 1 contract
Samples: Pledge and Escrow Agreement (Ivi Communications Inc)
