prohibited stock definition

prohibited stock means stock, or its produce, other than authorised stock;
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prohibited stock means any Stock that by its terms is mandatorily redeemable or subject to any other mandatory payment obligation (including any obligation to pay dividends, other than dividends of shares of Stock of the same class and series payable in kind or dividends of shares of common stock) on or before a date that is less than 1 year after the Maturity Date, or, on or before the date that is less than 1 year after the Maturity Date, is redeemable at the option of the holder thereof for cash or assets or securities (other than distributions in kind of shares of Stock of the same class and series or of shares of common stock).
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prohibited stock means any class or series of equity securities of the Company or any Subsidiary that by its terms is, on or before January 1, 2003, (a) mandatorily redeemable or subject to any other payment obligation (including any obligation to pay dividends other than in capital stock that is not Prohibited Stock), or (b) redeemable at the option of the holder thereof for cash, other assets or distributions of Prohibited Stock and in respect of which no required cash dividend is payable.
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Examples of prohibited stock in a sentence

  • The Securities Transfer Agent shall be the disbursing agent of the Prohibited Transfers Fund, and such fund shall be used to reimburse purported Transferees for the amounts paid by the purported Transferees for Prohibited Stock.

  • Once Prohibited Stock has been acquired in a Transfer that is not a Prohibited Transfer, the Prohibited Stock shall cease to be Prohibited Stock.

  • No employee or agent of the Corporation shall record any Prohibited Transfer and the purported Transferee shall not be recognized as a stockholder of Prohibited Stock for any purpose whatsoever and shall not be entitled, with respect to such Prohibited Stock, to any rights of a stockholder of the Corporation, including, without limitation, the right to vote such Prohibited Stock or to receive dividend distributions, whether liquidating or otherwise, in respect thereof.

  • If a purported Transferee or member of a Prohibited Party Group fails to surrender Prohibited Stock or proceeds of a sale of Prohibited Stock to the Securities Transfer Agent, together with any Prohibited Distributions, within three Business Days from the date the Corporation makes a demand for surrender of such Prohibited Stock, the Corporation may institute legal proceedings to compel such surrender.

  • If the Corporation receives more than one such Transfer Notice on the same day, the Transfers referenced in such Transfer Notices shall be treated as Prohibited Transfers to the extent necessary for a Restriction Period not to commence, and the amount of the Stock referenced in each Transfer Notice that is treated as Prohibited Stock shall be in proportion to the amounts of Stock referenced in each such Transfer Notice.

  • If the Corporation receives more than one such Transfer Notice on the same day, the Transfers referenced in such Transfer Notices shall be treated as Prohibited Transfers to the minimum extent necessary for the Restriction Period not to commence, and the amount of the Common Stock referenced in each Transfer Notice that is treated as Prohibited Stock shall be in proportion to the amounts of Common Stock referenced in each such Transfer Notice.

  • Disposition of Prohibited Stock by the Securities Transfer Agent shall be deemed to occur simultaneously with the Prohibited Transfer to which the Prohibited Stock relates.

  • Except as set forth on Schedule 5.39, no Credit Party nor any of its Subsidiaries shall issue any Prohibited Stock.

  • If a purported Transferee or member of a Prohibited Party Group has resold Prohibited Stock before receiving the Corporation's demand to surrender the Prohibited Stock to the Securities Transfer Agent, the purported Transferee or member of a Prohibited Party Group shall be deemed to have sold the Prohibited Stock on behalf of the Securities Transfer Agent and shall be required to Transfer to the Securities Transfer Agent any Prohibited Distributions and the proceeds of such sale of Prohibited Stock.

  • No employee or agent of the Corporation shall record any Prohibited Transfer and the purported Transferee shall not be recognized as a shareholder of Prohibited Stock for any purpose whatsoever and shall not be entitled, with respect to such Prohibited Stock, to any rights of a shareholder of the Corporation, including, without limitation, the right to vote such Prohibited Stock or to receive dividend distributions, whether liquidating or otherwise, in respect thereof.


More Definitions of prohibited stock

prohibited stock means any Capital Stock that by its terms is mandatorily redeemable on or before a date that is less than 90 days after March 31, 2012, or, on or before the date that is less than 90 days after March 31, 2012, is redeemable at the option of the holder thereof for cash or assets or securities; provided, however, that for the purposes of the definition of 2009 Equity Issuance, “Prohibited Stock” shall mean any Capital Stock that by its terms is mandatorily redeemable on or before March 31, 2013, or, on or before March 31, 2013, is redeemable at the option of the holder thereof for cash or assets or securities.
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prohibited stock means stock, or its produce, other
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prohibited stock means stock, or its produce, other than authorised stock; ”.23. Section 97 amended
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prohibited stock means any capital stock which, by its terms (or by the terms of any Security into which it is convertible or for which it is exchangeable), or upon the happening of any event, (i) matures or is mandatorily redeemable at the option of the holder thereof, in whole or in part, on or at any time prior to the second anniversary of the Scheduled Termination Date, (ii) provides for mandatory payment of any dividends or (iii) constitutes Indebtedness.
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prohibited stock means any Stock that by its terms is mandatorily redeemable or subject to any other payment obligation (including any obligation to pay dividends, other than dividends of shares of Stock of the same class and series payable in kind or dividends of shares of common stock) on or before a date that is less than 1 year after the Maturity Date, or, on or before the date that is less than 1 year after the Maturity Date, is redeemable at the option of the holder thereof for cash or assets or securities (other than distributions in kind of shares of Stock of the same class and series or of shares of common stock).
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prohibited stock means any Capital Stock that by its terms is mandatorily redeemable on or before a date that is less than 90 days after the Commitment Termination Date, or, on or before the date that is less than 90 days after the Commitment Termination Date, is redeemable at the option of the holder thereof for cash or assets or securities.
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Related to prohibited stock

  • Prohibited source means any person or entity who:

  • Awarded Stock means the Common Stock subject to an Award.

  • prohibited goods means goods which have been or are being, dealt with in contravention of any prohibition specified in regulation 57(2)(a) to (e);

  • Prohibited Act means: to directly or indirectly offer, promise or give any person working for or engaged by the Customer and/or the Authority a financial or other advantage to: induce that person to perform improperly a relevant function or activity; or reward that person for improper performance of a relevant function or activity; or committing any offence: under the Bribery Act 2010; or under legislation creating offences concerning Fraud; or at common law concerning Fraud; or committing or attempting or conspiring to commit Fraud;

  • Restricted Stock means Shares issued pursuant to a Restricted Stock award under Section 7 of the Plan, or issued pursuant to the early exercise of an Option.

  • Company Stock Option means an option to purchase shares of Common Stock.

  • Prohibited Software means software that incorporates or embeds software in, or uses software in connection with, as part of, bundled with, or alongside any (1) open source, publicly available, or "free" software, library or documentation, or (2) software that is licensed under a Prohibited License, or (3) software provided under a license that

  • Plan Shares means the total number of Common Shares which may be reserved for issuance as Optioned Shares under the Plan as provided in §2.2;

  • Parent Stock Option means any option to purchase Parent Common Stock.

  • Restricted Stock Units means an Award of stock units subject to such restrictions and conditions as the Administrator may determine at the time of grant.

  • Similar Laws has the meaning set forth in Section 3.3(d).

  • Limited Stock Appreciation Right means an Award of a limited Tandem Stock Appreciation Right or a Non-Tandem Stock Appreciation Right made pursuant to Section 7.5 of this Plan.

  • Company Stock means the Company Common Stock and the Company Preferred Stock.

  • Prohibited Waste means prohibited waste as defined in Schedule "D" to this Bylaw.

  • Incentive Stock Options means Option Rights that are intended to qualify as “incentive stock options” under Section 422 of the Code or any successor provision.

  • Prohibited Transaction has the meaning set forth in ERISA Section 406 and Code Section 4975.

  • Nonqualified Stock Option means an Option that is not an Incentive Stock Option.