Sale Stock definition
Examples of Sale Stock in a sentence
All rights with respect to this Note shall terminate upon the issuance of the Next Equity Financing Stock or Company’s Sale Stock upon conversion of this Note, whether or not this Note has been surrendered and whether or not all purchase, or other agreements have been executed and delivered by Holder to the Company.
Holder shall not be entitled to receive any certificate representing the shares of the Next Equity Financing Stock or Company’s Sale Stock to be issued upon conversion of this Note until the original of this Note is surrendered to the Company and the agreements and/or documents referenced herein have been executed and delivered to the Company.
There must not be in effect any legal requirement or any injunction or other order that prohibits the sale of the Sale Stock by Seller to Buyer.
The price for such purchase of the Second Sale Stock shall be the Second Sale Stock Consideration as set forth in Clause 10.
It is accepted and understood that the Vendor only gives the title warranties in respect of the Second Sale Stock at Second Closing and that neither the Corporation nor CDT UK will give any warranties at Second Closing.
If neither the Company nor the ▇▇▇▇ Group elects to purchase all of the shares of Sale Stock, the Selling Stockholder may transfer the shares of Sale Stock, at a price and on terms no more favorable to the transferee(s) thereof than specified in the Sale Notice, during the 60-day period immediately following the Authorization Date.
Moreover, Seller’s failure to deliver the Sale Stock within 5 days of receiving Buyer’s written notice shall result in an immediate and irrevocable termination of Seller’s right to receive any contingent purchase price payment, as described in Section 1.1, with respect to such undelivered Sale Stock.
Seller has had complete access to all information it has requested concerning the Company, its business, assets and prospects and is capable of evaluating the merits of this Agreement and any transactions under this Agreement and of forming an informed investment decision relating to its decision to sell the Sale Stock.
Prior to each Closing, Seller shall cause the existing lien to be removed with respect to the Sale Stock being transferred at such Closing, and shall provide evidence (satisfactory to Buyer’s counsel) of such removal and the termination of such lien with respect to the Sale Stock to be transferred to Buyer under Section 1.1 at such Closing.
Buyer understands that the Company is under no obligation to register the Sale Stock on the Buyer’s behalf.