Examples of Parent Series A Voting Preferred Stock in a sentence
Furthermore, the Parent shall, at the request of an Exchanging Member, remove or cause to be removed from each certificate representing Parent Series A Voting Preferred Stock the legend described in Section 6.2(b) to the extent that the restrictions on transfer contained in Section 9 of the Certificate of Designation are no longer in effect.
Following receipt by the Designated Recipient(s) of the Reciprocate Common Stock, and provided there has been no revocation of the applicable Exchange Notice by the Exchanging Member in advance of such receipt, subject to the provisions of Section 2.4, the surrendered Appleton Class B Exchangeable Units shall be deemed cancelled by the Company and shares of Parent Series A Voting Preferred Stock shall be automatically redeemed by Parent in accordance with the Certificate of Designation.
For the avoidance of doubt, the completion of an automatic redemption of the aforementioned Parent Series A Voting Preferred Stock Parent shall not be a condition to the issuance and delivery of the Reciprocate Common Stock.
The Option Plan does not have a termination date but according to Toronto Stock Exchange requirements all available and unreserved securities must be approved every three years by the directors and shareholders.
Upon the delivery to the Designated Recipient(s) of the Reciprocate Common Stock on the relevant Exchange Date in connection with an exchange contemplated by an Exchange Notice which has not been revoked, subject to the provisions of Section 2.4, the Exchanging Member shall cease to be a holder of the portion of such Parent Series A Voting Preferred Stock and Appleton Class B Exchangeable Units being surrendered for exchange and shall have no further rights whatsoever with respect to such securities.
For the avoidance of doubt, the completion of an automatic redemption of the aforementioned Parent Series A Voting Preferred Stock shall not be a condition to the issuance and delivery of the Reciprocate Common Stock.
Upon the delivery to the Designated Recipient(s) of the Reciprocate Common Stock on the relevant Exchange Date in connection with an exchange contemplated by an Exchange Notice which has not been revoked, subject to the provisions of Section 2.4, the Exchanging Member shall cease to be a holder of the portion of such Parent Series A Voting Preferred Stock and New Crumbs Class B Exchangeable Units being surrendered for exchange and shall have no further rights whatsoever with respect to such securities.
Reasonably promptly following the execution of this Agreement, (x) Crumbs shall grant, or shall cause to be granted to the Executive 799,000 New Crumbs Class B Exchangeable Units (the “Class B Grant”) and (y) the Company shall grant, or shall cause to be granted to the Executive 79,900 Parent Series A Voting Preferred Stock (the “Series A Grant”).
The Certificate of Designation for the Parent Series A Voting Preferred Stock shall have been finalized on terms and conditions reflecting and consistent with the term sheet set forth on Exhibit 6.1(h) and such other terms and conditions reasonably satisfactory to the Parties (the “Certificate of Designation”) and Parent shall have filed with the Secretary of State, and the Secretary of State shall have accepted, the Certificate of Designation duly adopted by the Parent Board.
Upon the expiration of the 2015 EBITDA Target, to the extent the Members have not become entitled to any portion of the Contingency Consideration pursuant to this Agreement, the New Crumbs Class B Exchangeable Units and shares of Parent Series A Voting Preferred Stock representing such Contingency Consideration shall be forfeit and cancelled by the Surviving Company and the Parent, respectively.