Principal Selling Stockholder definition
Examples of Principal Selling Stockholder in a sentence
This indemnity agreement will be in addition to any liability which such Principal Selling Stockholder may otherwise have.
The number of Option Shares contributed by each Principal Selling Stockholder shall be determined by multiplying the aggregate number of Option Shares to be purchased by a fraction, the numerator of which is the number of Option Shares as set forth opposite the name of such Principal Selling Stockholder in Schedule 2 hereto and the denominator of which is the total number of Option Shares available as set forth in Schedule 2 hereto.
If such remaining Underwriters do not, at the Closing Date, take up and pay for the Firm Shares which the defaulting Underwriter or Underwriters so agreed but failed to purchase, the Closing Date shall be postponed for twenty-four (24) hours to allow the several Underwriters the privilege of substituting within twenty- four (24) hours (including non-business hours) another underwriter or underwriters (which may include any nondefaulting Underwriter) satisfactory to the Principal Selling Stockholder.
The liability of any Principal Selling Stockholder under this subsection (a) shall be on a several, and not a joint, basis and shall not exceed the net proceeds received by such Principal Selling Stockholder in connection with the sale of such Principal Selling Stockholder's Firm Shares.
Delivery of and payment for the Option Stock shall be made at the place specified in the first sentence of the first paragraph of this Section 5 (or at such other place as shall be determined by agreement between the Representatives and the Principal Selling Stockholder) at 10:00 A.M., New York City time, on such Second Delivery Date.
The Company and the Principal Selling Stockholder shall deliver, or cause to be delivered the Firm Shares to an account or accounts at The Depository Trust Company as designated by the Representatives for the accounts of the Representatives and the several Underwriters at the First Closing Date, against the irrevocable release of a wire transfer of immediately available funds for the amount of the purchase price therefor.
If the Company or the Principal Selling Stockholder shall elect to prevent this Agreement from becoming effective, the Company shall promptly notify you by telephone, telecopy or telegram, in each case, confirmed by letter.
The indemnity agreement set forth in this Section 7(a)(1) shall be in addition to any liabilities that the Company and the Principal Selling Stockholder may otherwise have.
The Principal Selling Stockholder proposes to issue and sell one million (1,000,000) shares of the Company's Class A Common Stock, par value $0.001 per share (the "FIRM SHARES"), to the several Underwriters.
The option granted in Section 3 will expire 30 days after the date of this Agreement and may be exercised in whole or in part from time to time by written notice being given to the Principal Selling Stockholder by the Representatives.