Liquidation Shares definition

Liquidation Shares has the meaning set forth in the 1999 Shareholders’ Agreement.
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Liquidation Shares means unclassified shares of no par value each in the capital of the Company issued and designated as “Liquidation Shares” and having the rights described in these Articles;
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Liquidation Shares means the number of shares of L▇▇▇▇▇▇ Stock equal to (i) the portion of the Deferred Interest Principal being converted divided by (ii) the five day weighted trading average of a share of L▇▇▇▇▇▇ Stock for the five Business Days preceding the Conversion Date.
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Examples of Liquidation Shares in a sentence

  • In order to facilitate administration of the liquidation of the Liquidation Shares, the "Net Proceeds" of each tranche of Liquidation Shares shall be deemed to equal 90% of the lowest closing bid price during the five trading days preceding the conversion date of the Series C shares.

  • If, following the commencement of any voluntary or involuntary liquidation of the Company, the assets of the Company are not sufficient to pay the liquidating distributions payable with respect to the Series A Shares and the Parity Liquidation Shares, the amounts paid to the Holders and to the holders of all Parity Liquidity Shares shall be paid pro rata in accordance with the respective aggregate liquidating distributions to which they would otherwise be entitled.

  • If the respective aggregate liquidating distributions to which all Holders and all holders of any Parity Liquidation Shares are entitled have been paid, the holders of Junior Liquidation Shares shall be entitled to receive all remaining assets of the Company according to their respective rights and preferences.

  • Cornell shall convert the Series C shares in tranches of 6,250 shares each, and shall not convert a tranche until it has sold 80% of the Liquidation Shares issued on conversion of the previous tranche.

  • If, following the commencement of any voluntary or involuntary liquidation of the Company, the assets of the Company are not sufficient to pay the liquidating distributions payable with respect to the Series B Shares and the Parity Liquidation Shares, the amounts paid to the Holders and to the holders of all Parity Liquidity Shares shall be paid pro rata in accordance with the respective aggregate liquidating distributions to which they would otherwise be entitled.

  • The "Liquidation Shares" shall be the GreenShift common stock issued upon conversion of the Series C Preferred Stock pledged by Viridis to secure the Debentures.

  • The "Term" of this Agreement shall commence on the date set forth above and shall end on the earlier of (a) the date on which all of GreenShift's obligations under the Debentures have been satisfied in full, (b) the date on which all Liquidation Shares have been sold or (c) the effective date of any termination pursuant to Section 7 hereof.


More Definitions of Liquidation Shares

Liquidation Shares means, for purposes of this Agreement only, the ------------------ deemed equivalent of 180,000 Common Shares held by the GW Shareholders representing the rights of the GW Shareholders to receive special bonuses pursuant to their employment agreements dated as of March 1, 1994, until such special bonuses are paid.
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Liquidation Shares shall be the GreenShift common stock issued upon conversion of the Series C Preferred Stock pledged by Viridis to secure the Debentures. Cornell shall convert the Series C shares in tranches of 6,250 shares each, and shall not convert a tranche until it has sold 80% of the Liquidation Shares issued on conversion of the previous tranche. Any such conversions shall be subject to the ownership limitations specified in the Debentures (i.e., limitations to ownership of no more than 4.9% of the outstanding capital stock of GreenShift).
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