Management Stock Agreement definition
Examples of Management Stock Agreement in a sentence
The Management Stock Agreement be and is hereby cancelled as of the Effective Date, and the parties hereby release each other from all further obligations under the Management Stock Agreement.
Notwithstanding any other provision of this Note to the contrary, this Note shall become immediately due and payable upon the transfer of the Restricted Stock in an Approved Sale (as defined in the Management Stock Agreement).
Except as otherwise disclosed in writing to the Administrative Agents, no Stock of the Company is subject to any option, warrant, right of conversion or purchase or any similar right, nor are there any agreements or understandings to which the Company is a party with respect to the voting, sale or transfer of any shares of Stock of the Company or any agreement restricting the transfer or hypothecation of any such shares other than pursuant to the Management Stock Agreement.
Such parties covenant and agree that Article X and Sections 11.3, 11.4, 11.5, 11.6, 11.7, 11.8, 11.10, 11.11, 11.12, 11.13 and 11.14 of the Management Stock Agreement shall continue in full force and effect.
Such parties understand and agree that any Zero Zone promissory note issued to Selling Shareholder ▇▇▇▇ Van Der Ploeg pursuant to Section 8.2 of the Management Stock Agreement shall be unaffected by the amendments provided above, and that any such promissory note shall be enforceable in accordance with its terms.
Upon execution of this Agreement, each Purchaser shall execute and deliver the Stockholders Agreement and the Management Stock Agreement.
At the Closing, ▇▇▇▇ Van Der Ploeg shall execute and deliver to the Company the Management Stock Agreement.
In the event that the certificates representing the Pledged Shares are at any time delivered to Pledgor under the terms of the Management Stock Agreement, Pledgor shall immediately deliver to the Company the certificates representing the Pledged Shares, together with duly executed forms of assignment sufficient to transfer title thereto to the Company.
Such parties covenant and agree that the rights and obligations undertaken by each of them in the Management Stock Agreement shall continue in full force and effect, notwithstanding the sale of the Subject Shares to C2, except that the Management Stock Agreement shall be amended by deleting Articles I through IX and Sections 11.1, 11.2, 11.9 and 11.15 in their entirety and they shall be of no force or effect.
For purposes of this Note, an Event of Default shall be deemed to have occurred if (i) Employee fails to pay the outstanding principal amount plus accrued and unpaid interest on the Note on any Repayment Date or (ii) Employee breaches any provision of Employee's Management Stock Agreement.