Fenix Stock definition
Examples of Fenix Stock in a sentence
Fenix agrees not to communicate with holders of Fenix Stock with respect to such written materials otherwise than by mail unless such method of communication is also reasonably available to the Trustee for communication with the Beneficiaries.
No Vendor has any present plan, intention, commitment, binding agreement or arrangement to dispose of any of the Exchangeable Shares or Fenix Stock that the Vendor receives on or following Closing.
Concurrently with such Beneficiary ceasing to be a holder of Exchangeable Shares, the Beneficiary shall be considered and deemed for all purposes to be the holder of the shares of Fenix Stock delivered to it pursuant to the Exchange Right.
The purchase price for each such Exchangeable Share so purchased may be satisfied only by Fenix issuing and delivering or causing to be delivered to the Trustee, on behalf of the relevant Beneficiary, one share of Fenix Stock and on the applicable payment date a cheque for the balance, if any, of the purchase price without interest (less any amounts withheld pursuant to section 5.12).
In furtherance of its obligations under section 2.1(d) hereof, upon notice from Exchangeco of any event that requires Exchangeco to cause Fenix Stock to be delivered to any holder of Exchangeable Shares, Fenix shall forthwith issue and deliver or cause to be delivered to Exchangeco (or as Exchangeco shall direct) the requisite number of shares of Fenix Stock to be received by, and issued to or to the order of, the former holder of the surrendered Exchangeable Shares.
In consideration of the issuance and delivery of each such share of Fenix Stock, Exchangeco shall pay a purchase price equal to the fair market value of such Fenix Stock.
Upon delivery by Fenix to the Trustee of such shares of Fenix Stock, and the balance of the purchase price, if any, the Trustee shall deliver Fenix Stock to such Beneficiary (or to such other persons, if any, properly designated by such Beneficiary).
From the Consideration otherwise payable to the Standard Company Vendors at Closing, Purchaser shall withhold and deposit into escrow under the Escrow Agreement $5,880,000 in cash and 252,000 Exchangeable Shares (or if the IPO Price is less than $10.00, a number of Exchangeable Shares convertible into Fenix Stock equal to the quotient obtained by dividing $2,520,000 by the greater of the IPO Price or $9.00, rounding any resulting fractional share to a whole share).
All such shares of Fenix Stock shall be duly authorized and validly issued as fully paid and non-assessable and shall be free and clear of any lien, claim or encumbrance.
Fenix will in good faith expeditiously take all such actions and do all such things as are reasonably necessary or desirable to cause all Fenix Stock (or such other shares or securities) to be delivered hereunder to be listed, quoted or posted for trading on all stock exchanges and quotation systems on which outstanding Fenix Stock (or such other shares or securities) have been listed by Fenix and remain listed and are quoted or posted for trading at such time.