Cancellable Shares definition

Cancellable Shares means the portion of Consideration Shares that are subject to cancellation pursuant to Section 4.6 and 4.7 of the Share Purchase Agreement.
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Examples of Cancellable Shares in a sentence

  • The Company is hereby authorized by the Participant, as the Participant’s attorney-in-fact, to execute all documents and undertake any required action on behalf of the Participant to transfer any Cancellable Shares back to the Company, after which the Participant shall not have any right, title, or interest of any kind to the Cancellable Shares.

  • Participant acknowledges and agrees that the Company has no obligation of any kind to the Participant with respect to the cancellation of RSUs or the Cancellable Shares, or the recoupment of proceeds from the disposition of Cancellable Shares, pursuant to this Section, including, but not limited to, reimbursement for any taxes previously paid by the Participant with respect to Cancellable Shares.

  • The Participant acknowledges and agrees that the Company has no obligation of any kind to the Participant with respect to the cancellation of RSUs or the Cancellable Shares, or the recoupment of proceeds from the disposition of Cancellable Shares, pursuant to this Section, including, but not limited to, reimbursement for any taxes previously paid by the Participant with respect to Cancellable Shares.

  • In the event that (i) the Underwriters do not exercise any part of their over-allotment option, then each Founder’s Cancellable Shares shall be cancelled upon expiration of the over-allotment option, and the Founder will receive no consideration for such cancellation, or (ii) the Underwriters exercise their over-allotment option in part, a pro rata amount of each Founder’s Cancellable Shares shall be cancelled, and the Founder will receive no consideration for such cancellation.

  • Participant acknowledges and agrees that the Company has no obligation of any kind to the Participant with respect to the cancellation of PSUs or the Cancellable Shares, or the recoupment of proceeds from the disposition of Cancellable Shares, pursuant to this Section, including, but not limited to, reimbursement for any taxes previously paid by the Participant with respect to Cancellable Shares.

  • Each Investor, including, for the avoidance of doubt, any Permitted Transferee hereunder, hereby understands and agrees that during the Restricted Period and the Extended Restricted Period, the Cancellable Shares held by such Investor or Permitted Transferee may be cancelled by the Company in accordance with clause 4.6 of the Share Purchase Agreement, without the prior consent or other action by such Investor or Permitted Transferee.