Examples of Carbon Stock in a sentence
Each of the parties shall approve the 1999 Stock Option Plan of Carbon (the "Carbon Stock Option Plan") and the 1999 Restricted Stock Plan, both attached as Exhibit 1, and shall cause these Plans to be in effect prior to the BFC --------- Closing.
Carbon and Yorktown shall cause the Board of Directors of Carbon to approve and adopt the Carbon Stock Option Plan, Carbon's 1999 Restricted Stock Plan and the Employment Agreements.
Carbon shall grant under the Carbon Stock Option Plan substitute options for each option outstanding under the CEC Resources Ltd.
Concurrently with acquiring shares of Carbon as provided below, Yorktown shall, as a shareholder of Carbon, approve of the Carbon Stock Option Plan, Carbon's 1999 Restricted Stock Plan and the above-described Employment Agreements.
Borrower may at any time reduce the number of shares of Carbon Stock pledged to Lender pursuant to the Security Agreement but only if (a) Borrower shall make a corresponding proportionate reduction to the Commitment and (b) such reduction in the number of shares of Carbon Stock pledged would not cause the Borrowing Base to be less than 115% of the Commitment (after giving effect to the reduction to the Commitment).
In addition, in the event Lender elects to purchase all of the shares of Carbon Stock, upon consummation of the purchase of such shares, the Commitment Amount shall automatically be reduced to zero.
In the event the number of shares of Carbon Stock are not divisible exactly into the Share Funding Price, the parties shall agree to adjust the Share Funding Price accordingly.
The Obligations of Borrower under the Credit Documents shall be secured by the shares of Carbon Stock as more fully described in the Security Agreement (the "Collateral").
The Commitment Amount shall be reduced, on a dollar-for-dollar basis, by the aggregate purchase price of the shares of Carbon Stock.
The number of shares of Carbon Stock that would be purchased by Lender would be equal to (x) the principal amount of the Loan requested by Borrower that Lender elects to fund through the purchase of shares of Carbon Stock (as set forth in the Share Purchase Notice), divided by (y) the Share Price, determined as of the date of the Share Funding Notice.