Permitted Shares definition

Permitted Shares are shares of Corporation Common Stock to be delivered to pay the exercise price of the option (the "Delivered Shares"): (i) which have been owned by the Optionee for at least six months prior to the date of delivery, or (ii) if they have not been owned by the Optionee for at least six months prior to the date of delivery, the Optionee then owns, and has owned for at least six months prior thereto, a number of shares of Corporation Common Stock at least equal in number to the Delivered Shares.

Permitted Shares means that number of (i) Shares and (ii) Common Stock issued or issuable upon any stock split, dividend or other distribution, recapitalization or similar event with respect to the foregoing that the Commission permits the Company to register for resale, issued by the Company to Hercules from time to time.

Permitted Shares means (i) Warrant Shares; (ii) Shares issued or issuable on conversion or exercise of Convertible Securities or Options outstanding on the date hereof and set forth on Schedule A hereto; and (iii) Reserved Employee Shares.

Examples of Permitted Shares in a sentence

• A Registration Default under clause (i) above shall be cured on the date that the Registration Statement is filed with the SEC and a Registration Default under clause (ii) above shall be cured on the date that the Registration Statement covering the Permitted Shares is declared effective by the SEC or is otherwise usable.

• For such dwellings and all residential lots the building setback line shall not be less than twenty-five (25) feet from a front lot line and ten (10) feet from a side lot line that is also a street right-of-way line on a corner lot.

• Upon the occurrence of any Permitted Shares Disposition, the Borrower shall prepay the Senior Loan and pay accrued interest thereon in an aggregate amount equal to 100% of the Net Cash Proceeds thereof remaining after the payment of any amount due on account of Additional Seller Subordinated Debt incurred by the Borrower to purchase the Excluded Shares so disposed.

• Buyer agrees that Seller may, subject to Section 10.4, assign title to the Shares to a Permitted Shares Transferee in accordance with the terms of the Consent Decree.

• Upon the occurrence of any Disposition of Shares (other than (x) with respect to Excluded Shares and (y) a Permitted Shares Disposition), the Borrower shall prepay the Loan and pay accrued interest thereon in an aggregate amount equal to 100% of the Net Cash Proceeds thereof.

More Definitions of Permitted Shares

Permitted Shares means (i) Warrant Shares, (ii) Shares issued or issuable on conversion or exercise of Convertible Securities or options or warrants outstanding on the Closing Date, and (iii) all warrants issued concurrently herewith issued by the Company to _______ and dated as of April __, 2007.

Permitted Shares means (i) Warrant Shares (ii) Shares issued or issuable on conversion or exercise of Convertible Securities or options or warrants issued or outstanding on the Closing Date and (iii) up to 8,799,998 Shares that may be issued to officers, directors, employees and consultants of the Company pursuant to such plans or agreements that the Board of Directors of the Company shall determine.

Permitted Shares means shares of Common Stock issued or issuable (a) upon exercise of this Warrant, (b) pursuant to share dividends, distributions, subdivisions, combinations or reclassifications or (c) pursuant to employee incentive equity plans (including the Corporation’s 2011 Equity Incentive Plan), employee option plans, employee purchase plans, or other employee benefit plans established exclusively for compensatory purposes, which plans are approved by the Board of Directors.

Permitted Shares means 2,561,293 shares of Voting Common Stock of the Company which number shall increase to include the number of shares of Common Stock into which the Class B-1 Common Stock is convertible, once the Class B-1 Common Stock is converted (as adjusted for stock dividends, splits, recombinations and the like).

Permitted Shares means 1,933,346 shares of Common Stock of the Company (as adjusted for stock dividends, splits, recombinations and the like).

Permitted Shares means 3,306,792 shares of Common Stock, which number shall increase to include the number of shares of Common Stock into which the Class B-1 Common Stock and the Series B Preferred Stock is convertible, once the Class B-1 Common Stock and the Series B Preferred Stock is converted (as adjusted for stock dividends, splits, recombinations and the like); provided, however, until the Company consummates or if the Company does not consummate the transactions contemplated by the Smittybilt Investment Agreement, 3,306,792 shall be replaced by 3,149,080 in this Section 4.11.

Permitted Shares means a number of Petrie Block Shares equal to the lesser of (x) 4,000,000 shares and (y) the number of Petrie Block Shares in excess of which would interfere with the ability of the parties hereto to consummate the transactions contemplated hereby in a manner such that the consummation of the Petrie Stock Transfer, the Acquisition and the Dissolution will not give rise to the recognition of taxable income or gain to the Buyer, the Seller or any Subsidiary for Federal income tax purposes.