Common use of Settlement Payments Clause in Contracts

Settlement Payments. a. The Trust will return Three Million (3,000,000) shares of Releasor’s common stock to Releasor. Upon execution of this Agreement, the Trust will return the certificate representing the Equity Consideration to Releasor’s transfer agent, VStock Transfer, with instructions to transfer Three Million (3,000,000) shares to Releasor and return a new certificate to the Trust for the balance of Three Million (3,000,000) shares of Releasor’s common stock. b. The time period under which Royalty Consideration is payable to the Trust by Releasor under the SPA is reduced from seven (7) years to five (5) years. c. Releasor will issue a warrant in the form of Exhibit A to the Trust.