RETURN OF STOCK. Each Facility Company will promptly report to Burdale any return of Stock by an account debtor where that Stock has a value in excess of $75,000. At any time that any Stock (irrespective of its value) is returned, reclaimed or repossessed, the related Receivable will be deemed not to be an Eligible Receivable. In the event any account debtor returns Stock when an Event of Default has occurred and is continuing, such Facility Company will, upon Burdale’s request:
(a) hold the returned Stock on trust for Burdale;
(b) segregate all returned Stock from all of its other property;
(c) dispose of the returned Stock solely according to Burdale’s instructions; and
(d) not issue any credits, discounts or allowances with respect to such returned stock without Burdale’s prior written consent.
RETURN OF STOCK. If, for any reason the Selling Principal Stockholder determines that it cannot complete the sale of all the shares of Common Stock, the Selling Principal Stockholder shall return to each Participating Stockholder all certificates representing shares of Common Stock that such Participating Stockholder delivered for sale pursuant hereto, together with all other documents delivered pursuant hereto by such Participating Stockholder, and all the restrictions on sale or other disposition contained in this Agreement with respect to such shares of Common Stock shall continue in effect.
RETURN OF STOCK. In the event of any termination of this Agreement other than pursuant to clauses (i) or (ii) of Section 7.1, Profile shall promptly return and reconvey to Licensee all shares of stock of Licensee which have been issued to Profile, including any such shares issued pursuant to that certain Stock Purchase Agreement, dated contemporaneously herewith between Profile and Licensee (the "Stock Purchase Agreement"). In reconveying said shares, Profile shall warrant that it is conveying good and marketable title thereto, free of all liens and encumbrances, but shall make no other warranty with respect to said shares of stock. Notwithstanding the foregoing,
(1) if the notice of termination is delivered after the "Public Company Date", as defined below, then (i) if Licensee delivers the notice of termination, Profile shall not be obligated to return any shares of stock, and (ii) if Profile delivers the notice of termination, Profile shall only be required to return a number of shares equal to fifty percent (50%) of the number of shares which, absent this provision, Profile would be required to return. In this connection, it is specifically understood that after the Public Company Date, where Profile is obligated to return fifty percent (50%) of the shares, the shares returned need not be the identical shares issued to Profile, but may be made up of shares which Profile has purchased or otherwise obtained;
(2) if Profile delivers written notice of termination pursuant to Section 7.2(a) for failure to pay royalties and if, in said notice, Profile provides Licensee with ninety (90) days to cure the non-payment rather than ten (10) days, then, if the cure is not effectuated by the end of the ninety (90) day period and Profile completes the termination, Profile will not be required to return any shares of stock.
RETURN OF STOCK. Prior to August 1, 2000, the parties shall create and attach as Schedule D to this Agreement, a schedule of terms and provisions regarding the return of certain portions of the Novint Stock and/or the MHTX Stock in the event of an MHTX Breach or a Novint Breach, as appropriate.
RETURN OF STOCK. Simultaneously with the execution of this Agreement and within the same tax year as the offer of the signing bonus and the transfer of the Stock to the Employee, the Employee shall return to the Corporation any certificate or certificates representing the Stock and disclaims any interest whatsoever in the Stock and transfers and assigns the stock back to the Corporation, free and clear of any liens and encumbrances of the Employee. Upon receipt of the certificates representing the Stock, the Corporation shall direct its transfer agent to cancel the Stock from its books and records. The Corporation will reflect the rescission transfer in its stock ledger. If the Corporation deems it necessary or desirable, the Corporation may make a disclosure in its public filings.
RETURN OF STOCK. Upon the pledge of stock, Pledgee shall deliver with ---------------- the original stock certificates executed stock powers in blank to the Escrow Agent covering the pledged stock and the Escrow Agent shall return to the Pledgor all of the stock pledged hereunder upon the payment in full of the Indebtedness.
RETURN OF STOCK. Executive agrees to return to the Company his stock certificates evidencing Executive's ownership of 1 million shares of the Common Stock on the Effective Date, together with such instruments of transfer and such other documents as the Company may reasonably request to evidence such return. Such shares shall be canceled by the Company and returned to authorized but unissued shares of the Common Stock.
RETURN OF STOCK. Upon full and final payment of the Obligations, Lender shall return the Stock to the Pledgor.
RETURN OF STOCK. Upon payment in full of the indebtedness in accordance with the terms of the Note, Pledgor shall give written notice to the Escrow Agent, who thereafter shall then give written notice to Pledgee. Thereafter, Pledgee shall have fifteen (15) days in which to file with the Escrow Agent any written objection to the release of the Pledged Shares to Pledgor. If an objection is filed, then the Escrow Agent shall continue to hold the Pledged Shares, subject to the agreement of Pledgor and Pledgee or to the order of any court of competent jurisdiction. At the time an objection is filed, the Escrow Agent may at its option interplead the Pledged Shares in any Florida or federal court. The non-prevailing party in any such interpleader action shall pay all reasonable attorneys' fees and costs of Escrow Agent in connection with such action.
RETURN OF STOCK. Upon the payment in full of the indebtedness in accordance with the terms of the Note and SPA, the Pledgee shall immediately deliver possession of the pledged stock to the Pledgor, and this Agreement shall terminate.
