Promotional Shares definition

Promotional Shares means those equity securities which were issued within three (3) years prior to the filing date or are to be issued to promoters for a consideration valued at less than eighty-five percent (85%) of the proposed public offering price excluding the number of such securities calculated by
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Promotional Shares means equity securities that:
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Promotional Shares means those equity securities which were issued within three (3) years prior to the filing date or are to be issued to promoters for a consideration valued at less than eighty-five percent (85%) of the proposed public offering price excluding the number of such securities calculated by dividing eighty-five percent (85%) of the public offering price per share into the total consideration paid by promoters for their shares. Equity securities which were, or are to be, issued for services rendered, patents, copyrights, or other intangibles are presumed to be promotional shares unless the value of such intangibles has been established to the satisfaction of the Division. In determining the consideration paid or the value of property under this definition, the Division may recognize as consideration any property, including patents,
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Examples of Promotional Shares in a sentence

  • The exercised or converted Promotional Shares will remain in Escrow subject to the terms of this Agreement.

  • The Promotional Shares shall be held by the Escrow Agent until they are released in accordance with paragraph 4., below.

  • The exercised or converted Promotional Shares shall remain in escrow subject to the terms of this Agreement.

  • The Escrow Agent shall not be liable for retaining the Promotional Shares in escrow for a reasonable time to determine the proper disposition of those shares.

  • Subject to the documentation requirements in paragraph 5., below, the Escrow Agent shall release the Promotional Shares in the following manner.

  • Any cash dividends that are granted to or received by the Depositors while their Promotional Shares are held in escrow, shall be promptly deposited with and held by the Escrow Agent subject to the terms of this Agreement unless such cash dividends are approved by a majority of the independent directors of the Issuer.

  • If the Promotional Shares are registered in the Escrow Agent's name, the Escrow Agent shall vote those Promotional Shares in accordance with the Depositors' written instructions.

  • With respect to Equity Securities received by the Depositors as the result of the conversion of the Depositors' convertible securities and/or the exercise of Depositors' options, warrants or rights listed on Exhibit A, while their Promotional Shares are held in escrow, shall be promptly deposited with the Escrow Agent as Promotional Shares subject to the terms of this Agreement.

  • If the Promotional Shares have exercise rights or conversion rights, the Escrow Agent shall, upon receipt of the Issuer's written request, provide the documents that evidence and/or which are necessary to execute the exercise rights or conversion rights.

  • If the Promotional Shares have exercise rights or conversion rights, the Escrow Agent will, upon receipt of the Company’s written request, provide the documents that evidence and/or which are necessary to execute the exercise rights or conversion rights.