Stock Cancellation Sample Clauses

Stock Cancellation. On or before the Closing, FAI shall cause to be cancelled 1,662,214 shares of its outstanding Common Stock held by certain of its stockholders who hold restricted Common Stock and it shall transfer to such stockholders its existing business and related assets and liabilities in consideration of the cancellation of their FAI Common Stock. After the cancellation of these shares, the total outstanding shares of FAI as of immediately prior to the Effective Time of the Merger shall not exceed 1,210,786 shares of Common Stock.”
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Stock Cancellation. On or before October 1, 1997, GS shall surrender to the Company for cancellation 800,000 shares of common stock of the Company represented by certificate number 22 by surrendering said certificate to the Company, duly endorsed by GS and his spouse. On or before October 1, 1997, RS shall surrender to the Company for cancellation 200,000 shares of common stock of the Company represented by certificate number 1 by surrendering said certificate to the Company, duly endorsed by GS and his spouse. Upon cancellation, the shares will be returned to the authorized and unissued shares of the Company, and neither GS nor RS nor their respective spouses shall have right or interest in respect thereof.
Sample 1
Stock Cancellation. Effective immediately upon the payment of the amount due to WayPoint Nytex immediately upon the consummation of the Transaction in respect of the Put Payment Amount, NYTEX Acquisition and NYTEX Energy, as directed by NYTEX Energy, shall repurchase all of the WayPoint Securities from WayPoint Nytex, and WayPoint Nytex shall transfer and assign, free and clear of all liens, claims or encumbrances, to NYTEX Acquisition and NYTEX Energy, as directed by NYTEX Energy, all of the WayPoint Securities. For purposes of this Agreement, the “WayPoint Securities” shall include (i) 20,750 shares of Senior Series A Redeemable Preferred Stock of NYTEX Acquisition, (ii) 1 share of Series B Redeemable Preferred Stock of NYTEX Energy, (iii) the Purchaser Warrant, and (iv) the Control Warrant. Thereafter, WayPoint Nytex shall have no further rights or interest of any nature with respect to any of the WayPoint Securities except with respect to the right of the WayPoint Nytex to receive additional proceeds with respect to the Working Capital Surplus (as defined in the Merger Agreement).
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Stock Cancellation. On or prior to the Closing Date, Matrix will effect the Stock Cancellation.
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Stock Cancellation. USR will have cancelled an aggregate of 4,000,000 pre- consolidation restricted shares of its common stock.
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Stock Cancellation. The CPGP Group shall return for cancellation, at no expense to the Company (i.e., transfer agents fees and costs), any and all stock acquired for themselves or for others who may have acquired stock, in any form, kind, or nature ( Sellers Stock) all in accordance with the Articles and Bylaws of the Company and subject to and approved by the Company. All certificates submitted for cancellation shall be given to the Escrow Agent.
Sample 1
Stock Cancellation. EDVP will have cancelled an aggregate of 90,375,750 restricted shares of its common stock.
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Related to Stock Cancellation

  • Debt Cancellation Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

  • Cancellation of Options In exchange for the consideration described in Section 1.2 below, the Participant hereby agrees that the Award Agreement and the Participant’s interests in the Underwater Options shall be cancelled, terminated, and of no further force or effect, effective as of the Effective Date, and that neither the Company nor the Participant shall have any further rights or obligations with respect to the Award Agreement, the Underwater Options, or with respect to which any shares of Common Stock that could have been acquired upon vesting and exercise of the Underwater Options.

  • Purchase for Cancellation Subject to applicable law, the solvency requirements under Bermuda law and to the provisions described in Section 6, the Partnership may at any time purchase for cancellation the whole or any part of the Series 4 Preferred Limited Partnership Units Outstanding from time to time, in the open market through or from an investment dealer or any firm holding membership on a recognized stock exchange, or by private agreement or otherwise, at the lowest price or prices at which, in the opinion of the Managing General Partner, such units are obtainable.

  • Automatic cancellation The Commitment of each Lender will be automatically cancelled at the close of business on the last day of the Availability Period.

  • Notice of Cancellation Any notice of cancellation given by the Borrower pursuant to Clause 7.1 (Cancellation) shall be irrevocable and shall specify the date upon which such cancellation is to be made and the amount of such cancellation.

  • Cancellation of Shares If the Corporation shall make available, at the time and place and in the amount and form provided in this Agreement, the consideration for the Purchased Shares to be repurchased in accordance with the provisions of this Agreement, then from and after such time, the person from whom such shares are to be repurchased shall no longer have any rights as a holder of such shares (other than the right to receive payment of such consideration in accordance with this Agreement). Such shares shall be deemed purchased in accordance with the applicable provisions hereof, and the Corporation shall be deemed the owner and holder of such shares, whether or not the certificates therefor have been delivered as required by this Agreement.

  • Cancellation of Warrants In the event the Company shall purchase or otherwise acquire Warrants, the same shall thereupon be cancelled and retired. The warrant agent (if so appointed) shall cancel any Warrant surrendered for exchange, substitution, transfer or exercise in whole or in part.

  • Certificate of Cancellation On completion of the winding up of the Company as provided herein and under the Act, the Members (or such other Person or Persons as the Act may require or permit) shall file a certificate of cancellation with the Secretary of State of the State of Delaware and take such other actions as may be necessary to terminate the existence of the Company. Upon the filing of such certificate of cancellation, the existence of the Company shall terminate, except as may be otherwise provided by the Act or by Applicable Law.

  • Cancellation of Company Common Stock At the Effective Time, all Company Shares owned by the Company, Parent or Merger Sub shall be cancelled and shall cease to exist, and no consideration shall be delivered in exchange therefor.

  • Surrender and Cancellation of Shares (a) In the event the over-allotment option (the “Over-Allotment Option”) granted to the representative(s) of the underwriters of the Company’s IPO is not exercised in full, the Buyer acknowledges and agrees that it shall surrender for cancellation any and all rights to such number of Shares (up to an aggregate of 937,500 Shares and pro rata based upon the percentage of the Over-Allotment Option exercised) such that immediately following such surrender, the Buyer (and all other initial shareholders prior to the IPO, if any) will own an aggregate number of Shares (not including ordinary shares issuable upon exercise of any warrants or any ordinary shares purchased by the Buyer in the Company’s IPO or in the aftermarket) equal to 20% of the issued and outstanding ordinary shares of the Company immediately following the IPO.

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