Examples of Forfeited in a sentence
After the One Year Test Date, any Forfeited Incentive Shares will be redistributed on a pro rata basis among the Company Shareholders who are subject to Lock-Up Agreements.
From and after the occurrence of the forfeiture contemplated by this Section 6, the ARYA Sponsor Forfeited Shares shall be deemed to be cancelled and no longer outstanding.
In the event that LICENSOR determines that it is not in its best interests to have any of the Licensed Patents to continued to be maintained (each such Licensed Patent a “Forfeited Patent”) and the LICENSOR notifies the LICENSEE of its intent in writing, LICENSOR shall transfer title and ownership of such Forfeited Patent to the LICENSEE at no additional costs and the LICENSEE shall thereafter determine at its sole discretion whether or not to continue maintaining such Forfeited Patent at its own cost.
The ARYA Sponsor hereby agrees to take, and authorizes XXXX to take, such actions as shall be necessary to evidence such forfeiture and surrender, if applicable, of the ARYA Sponsor Forfeited Shares, subject to, conditioned upon and effective as of immediately prior to the ARYA Merger Effective Time.
Subject to, and conditioned upon and effective as of immediately prior to, the occurrence of XXXX Xxxxxx Effective Time, the ARYA Sponsor shall automatically be deemed to irrevocably forfeit, surrender and transfer to ARYA for no consideration a number of Sponsor Shares held by it immediately prior to the ARYA Merger Effective Time equal to the ARYA Sponsor Forfeited Share Amount (such Sponsor Shares so forfeited, the “ARYA Sponsor Forfeited Shares”).