Examples of ESOP Stock Purchase Agreement in a sentence
No action, suit or proceeding before any court or governmental or regulatory authority shall be pending against the Company, the Selling Shareholder or any of their respective directors or officers seeking to restrain, prevent, limit or change the Company Purchase, the ESOP Purchase or the related transactions contemplated hereby or by the ESOP Stock Purchase Agreement or questioning the legality or validity of any such transactions or seeking damages in connection with any such transactions.
The Selling Shareholder is not a party to or bound by any buy-sell or other agreement, understanding or commitment with respect to any of the Shares, other than this Agreement and the ESOP Stock Purchase Agreement.
No approval of this Agreement or the ESOP Stock Purchase Agreement or the Company Purchase, the ESOP Purchase or any of the transactions contemplated hereby or thereby is required to be obtained from the stockholders of the Company.
If this assumption is unwarranted, Bowers and Kubota are ordered to explain why in a filing no later than March 31, 2021.The Company’s indemnification obligation under the ESOP Stock Purchase Agreement expired two years from the closing of the sale, unless the “savings clause” (under which theobligations survive even after two years) is in effect.
However, the court dismisses the portion of Count IX challenging the validity of the indemnification language in the ESOP Stock Purchase Agreement, as there is no actual case or controversy with respect to that language.
No approval not already obtained of this Agreement or the ESOP Stock Purchase Agreement or the Company Purchase, the ESOP Purchase or any of the transactions contemplated hereby or thereby is required to be obtained from the stockholders or any parent or affiliate of the Selling Shareholder.
This court assumes that, when Bowers and Kubota say that they have not sought indemnification under the ESOP Stock Purchase Agreement, that representation means that their trusts have also not sought such indemnification.
The Board of Directors or other appropriate committee of the Selling Shareholder shall have authorized and approved this Agreement, the ESOP Stock Purchase Agreement, the Company Purchase and the ESOP Purchase, and the Selling Shareholder shall have taken all other corporate action necessary for the Selling Shareholder to consummate the Company Purchase and the ESOP Purchase.
The Company's Board of Directors shall have authorized and approved this Agreement, the ESOP Stock Purchase Agreement, the Company Purchase and the ESOP Purchase, and the Company shall have taken all other corporate action necessary for the Company to consummate the Company Purchase and the ESOP Purchase.
Because there is no evidence in the record demonstrating that the indemnification provision in the ESOP Stock Purchase Agreement is or could be in issue, this court dismisses Count IX to the extent it seeks a determination that the indemnification language in the ESOP Stock Purchase Agreement is void.