Released Shares definition

Released Shares means those of the Restricted Securities which are released from stock restrictions in accordance with the following automatic timed release schedule: 12 months after the Listing Date 100% of the Restricted Securities The Shareholder acknowledges that the Released Shares will be subject to a 12 month hold period beginning on the Listing Date.

Released Shares means those of the Restricted Securities which are released from stock restrictions in accordance with the following automatic timed release schedule: On the date our securities are listed on the CSE (the “Listing Date”) 1/10 of the Restricted Securities 6 months after the Listing Date 1/6 of the remainder of the Restricted Securities 12 months after the Listing Date 1/5 of the remainder of the Restricted Securities 18 months after the Listing Date 1/4 of the remainder of the Restricted Securities 24 months after the Listing Date 1/3 of the remainder of the Restricted Securities 30 months after the Listing Date 1/2 of the remainder of the Restricted Securities 36 months after the Listing Date The remainder of the Restricted Securities

Released Shares has the meaning set forth in Section 5.10(b).

Examples of Released Shares in a sentence

• Transfers made pursuant to this Section, with the exception of any transfer of Released Shares, shall not be valid unless and until the transferee shall have executed a joinder to this Agreement and any other agreements reasonably required by the Company pursuant to which such transferee(s) agree to be bound by the terms and conditions of this Agreement.

• The Participant shall have no right to sell, assign, transfer, pledge or otherwise encumber the Shares in any manner until the Shares have become Released Shares.

• If the repurchase is not consummated by such date, the Corporation may deliver to the Equity Participant by check or wire transfer the applicable repurchase price for the Unreleased Shares and/or Released Shares, if applicable, to be repurchased and may cancel the certificates evidencing such Unreleased Shares and/or Released Shares, if applicable, on the books and records of the Corporation.

• If SAW does not elect to purchase hereunder, the EW Released Shares will thereafter be held by EW free and clear of any further restrictions on sale under this Agreement.

• If EW desires to sell any EW Released Shares, she shall provide written notice of such desire to SAW and, for a period of 48 hours from SAW’s receipt of such notice, SAW shall have the right to purchase any or all of such Shares for a price equal to the closing price of the Shares on the trading day immediately preceding the date of notice.

More Definitions of Released Shares

Released Shares means Shares that are not Unreleased Shares.

Released Shares shall have the meaning ascribed to such term in Section 5.2.

Released Shares means those shares of Restricted Stock no longer subject to Forfeiture in accordance with Section 2 hereof (other than pursuant to Section 2(f), (g) or (h)) at the relevant date of determination.

Released Shares has the meaning ascribed thereto in Section 3.5.1.1 hereof;

Released Shares means Shares that, in accordance with Sections 3.1, 3.2 and 3.3, are no longer subject to repurchase by the Corporation pursuant to Section 4.

Released Shares means, for each of the TAG Stockholders, the following percentage of the Shares owned or held by the respective parties as of the applicable Release Date: Percentage of Shares that Become Released Shares Release Date On the date hereof -0%- On January 31, 2004 12.5% On April 30, 2004 12.5% On July 31, 2004 12.5% On October 31, 2004 12.5% On January 31, 2005 12.5% On April 30, 2005 12.5% On July 31, 2005 12.5% On October 31, 2005 All remaining Shares Shares which have not been Released in the manner described above or otherwise become Released Shares under this Section 4, shall be regarded as "Lock-Up Shares" and shall be subject to the prohibitions on transfer contained in Section 2.

Released Shares means a number of JEN Shares determined by subtracting (A) the number of Holdback Shares from (B) the total number of JEN Shares outstanding at the applicable time, and (ii) “Holdback Shares” means a number of JEN Shares determined by dividing (A) the aggregate amount, if any, of outstanding claims for indemnification against Sellers under Section 8.2(a) of the Master Agreement properly asserted in a written notice within the required timing for asserting such claim in accordance with Article VIII of the Master Agreement (but not yet resolved as of the last day of the Lockup Period) by (B) the per share price of Avatar Common Stock as of the last day of the Lockup Period based on the average of the 20 prior trading day closing prices thereof.