Closing Date Stock Consideration definition
Examples of Closing Date Stock Consideration in a sentence
The total purchase price for the Assets (the "Purchase Price") shall be One Hundred Eighty-Two Thousand One Hundred Forty-Seven and 09/100 Dollars ($182,147.09) ("Cash Consideration"), shares of Common Stock of Purchaser's parent company, Pentastar Communications, Inc., having a value of One Hundred Thousand Dollars ($100,000.00) (based upon the trading price for the five day period ending on the Closing Date) ("Stock Consideration"), and the assumption of Assumed Liabilities.
The Closing Date Stock Consideration has been duly authorized and, upon issuance in accordance with the terms of this Agreement, will be validly issued, fully paid and non-assessable, issued free from preemptive rights, free and clear of all Encumbrances (other than those created or incurred by any Stockholder) and in compliance with applicable U.S. state and federal securities Laws.
The Seller acknowledges that it is informed as to the risks of the transactions contemplated hereby and of ownership of the Closing Date Stock Consideration.
The Seller is acquiring the Closing Date Stock Consideration for its own account with the present intention of holding such securities for investment purposes and not with a view to, or for sale in connection with, any distribution of such securities in violation of any federal or state securities Laws.
For the avoidance of doubt, (i) no additional consideration, in any form, shall be due or payable to the Eligible Stockholders on account of such adjustment and (ii) such adjustment shall occur ratably between the Aggregate Closing Date Stock Consideration and the Escrow Amount.
For the avoidance of doubt, (i) no additional consideration, in any form, shall be due or payable to Parent on account of such adjustment and (ii) such adjustment shall occur ratably between the Aggregate Closing Date Stock Consideration and the Escrow Amount.
In order to comply with NASDAQ Market Rules, in no event shall Parent be obligated to issue such number of shares of Parent Common Stock in the Deferred First Installment Payment, any Additional Deferred Installment or the Consent Fee, together with the Closing Date Stock Consideration, in the aggregate, equal to or in excess of 20% of the outstanding shares of Parent Common Stock as determined immediately prior to the Closing (the “20% Threshold”).
Parent shall use reasonable best efforts to cause the Closing Date Stock Consideration to be approved for listing on the Nasdaq Stock Market prior to the Closing Date.
Each of the Stockholders and the Seller acknowledges that neither the Parent nor the Buyer has any obligation to register or qualify the Parent Shares constituting the Closing Date Stock Consideration for resale.
Prior to the Closing, the Parent shall use commercially reasonable efforts to obtain all regulatory approvals needed to ensure that the Parent Shares to be issued to the Seller as Closing Date Stock Consideration shall be approved for listing on The Nasdaq Stock Market, subject to official notice of issuance.