Examples of Stockholder Note in a sentence
On and after the Effective Date, the Stockholder Note, the Stock Pledge Agreement and the Stockholder Agreement, as modified hereby shall continue to be in full force and effect and each is hereby ratified and confirmed in all respects.
Until the Effective Date, the Stockholder Note, the Stock Pledge Agreement and the Stockholder Agreement, as in effect on the date hereof, shall remain in full force and effect without giving effect to this Agreement.
The third paragraph of the Stockholder Note is hereby amended and restated on the Effective Date to read in its entirety as follows: "This Note may be prepaid, in whole or in part, at any time without penalty.
The shares of RedChip Stock to be issued in the Stockholder Note Conversion will have a fair market value, on the date of conversion, of not less than the aggregate principal amount, accrued but unpaid interest, premium, fees and costs payable to the holders under all such contributed indebtedness and RedChip will provide FRT with documentary evidence which supports such determination in form and substance satisfactory to FRT.
The stockholder notes listed on Schedule 9.10 attached hereto ("Stockholder Notes") shall, to the extent owned by Xxxxxxxxx, have been transferred to the LLC at or immediately prior to Closing and shall, to the extent owned by BC, remain with BC, and all of such Stockholder Notes shall continue to be paid in accordance with their terms; provided, however, that Xxxxxxxx Xxxxxxx'x Stockholder Note shall be repaid or otherwise satisfied in full prior to Closing.
Prior to the Effective Time, RedChip and the noteholders identified on Schedule 2.6(e) may elect that any or all indebtedness of RedChip due to the noteholders as identified on Schedule 2.6(e) (including any related accrued and unpaid interest, premium, costs or other obligations under the respective promissory notes) be contributed to RedChip solely in consideration for the issuance to such persons of shares of RedChip Stock (the "Stockholder Note Conversion").
In connection with the Closing and immediately prior to the Effective Time, the Stockholder and the Company each shall take all actions for the Stockholder Notes to be converted into shares of the Company Common Stock pursuant to the terms of the applicable Stockholder Note.
The Stockholder shall have consented to the assignment by PowerCerv to ASA of the Stockholder Note and the Stock Pledge and Security Agreement and Escrow Agreement, each dated as of August 31, 2001 between PowerCerv and Stockolder, on terms acceptable to ASA; provided, however, that if the Stockholder does not so consent, then Buyer shall have the right to reject the Stockholder Note and treat the Stockholder Note as an Excluded Asset.
Prior to and through October 31, 2007, the Company issued to the Stockholder (Note 10) an aggregate of 8,500,000 shares of common stock for nominal consideration in connection with the formation and capitalization of the Company.
Following any Stockholder Note Conversion, the Exchange Ratio shall be adjusted in accordance with Sections 2.6(f) and 2.6(j).