Examples of Holdback Shares in a sentence
Within five (5) days after Closing, the Buyer shall deliver or cause to be delivered to the Sellers book entry records and/or stock certificates evidencing the Exchange Consideration, less the Holdback Shares.
Purchaser shall pay all or a portion of the Holdback Shares in accordance with the terms of this Agreement.
At the Closing, Purchaser shall deliver the Closing Payment Shares to the Shareholders (in such denominations and proportions as are provided in Schedule A) and shall retain the Holdback Shares (also referred to as the “Exchange Fund”).
In the event that any Holdback Shares are surrendered back to Purchaser for indemnity obligations, the Holdback Shares so surrendered shall be cancelled by Purchaser.
As of the Closing Date, Purchaser shall issue an aggregate of six million four hundred thousand (6,400,000) Purchaser Ordinary Shares (comprised of 1,900,000 Class A Purchaser Ordinary Shares and 4,500,000 Class B Purchaser Ordinary Shares as provided herein), which amount represents the sum of (i) the Closing Payment Shares (5,950,000) and (ii) the Holdback Shares (450,000).