Secondary Consideration definition
Examples of Secondary Consideration in a sentence
In determining the net present value of such Secondary Consideration payments, a discount rate equal to the "Reference Rate" of Chase Bank Texas, N.A. as of September 30, 1998 shall be used.
Upon issuance and payment therefor as contemplated hereby, the Primary Consideration Shares and, if any, any additional Convertible Preferred issued pursuant to Section 2.2(b)(ii) and the Secondary Consideration Shares will be duly authorized, validly issued, fully paid, non-assessable and the issuance thereof will not be subject to preemptive rights or any other Commitments, except as contemplated by Voting Trust, Exchange and Support Agreement and the Articles of Special Rights and Restrictions.
Upon the terms and subject to the conditions set forth in this Agreement, on the Secondary Funding Date, (1) the Subscriber shall deliver to the Company (i) T▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Dollars (US$240,000) (the “Secondary Consideration”); and (2) upon receipt by the Company of the Secondary Consideration, the Company shall deliver to the Subscriber the Secondary Common Stock.
Lastly, each WJ Seller will receive the Secondary Consideration on or before the Payment Date.