Stratus Common Stock definition
Examples of Stratus Common Stock in a sentence
No certificates or scrip representing fractional shares of Stratus Common Stock shall be issued and any fractions shall be rounded up or down to the nearest whole share.
Except as otherwise permitted in this Agreement, during the period beginning on the date hereof and ending on the six-month anniversary of the Closing Date, ▇▇▇▇▇▇▇ will not, and shall cause its Affiliates not to, transfer, sell, assign, pledge or otherwise dispose, directly or indirectly (“Transfer”), of any shares of Stratus Common Stock acquired pursuant to the Stock Purchase Agreement.
From and after the one-year anniversary of the Closing Date, ▇▇▇▇▇▇▇ may Transfer shares of Stratus Common Stock in any way permitted by applicable law.
From and after the six-month anniversary of the Closing Date until the one-year anniversary of the Closing Date, ▇▇▇▇▇▇▇'▇ Transfers of Stratus Common Stock under this Investor Rights Agreement shall be limited to Transfers (i) in periodic sales under a Registration Statement, and (ii) made in compliance with Rule 144 of the Securities Act.
For so long as ▇▇▇▇▇▇▇ and its Affiliates are the Beneficial Owners of at least 5.0% of the issued and outstanding shares of Stratus Common Stock, then ▇▇▇▇▇▇▇ shall have the right to designate one Designated Director.
Any Transfer or attempted Transfer of shares of Stratus Common Stock in violation of this Section 3.5 shall, to the fullest extent permitted by law, be null and void ab initio, and Stratus shall not, and shall instruct its transfer agent and other third parties not to, record or recognize any such purported transaction on the share register of Stratus.
In the event that ▇▇▇▇▇▇▇ and its Affiliates are the Beneficial Owners of less than 5.0% of the issued and outstanding shares of Stratus Common Stock, ▇▇▇▇▇▇▇ shall have no right to designate any directors to the Board.
The provisions of Section 3.4 shall terminate, and shall be of no further force or effect, upon the last to occur of (i) the first date on which no Designated Director shall have been a member of the Board for the preceding six-month period, and (ii) ▇▇▇▇▇▇▇ and its Affiliates Beneficially Owning less than 5.0% of the issued and outstanding shares of Stratus Common Stock.
Promptly upon receipt of a written request from Stratus, if ▇▇▇▇▇▇▇ and its Affiliates cease to Beneficially Own at least 5.0% of the issued and outstanding shares of Stratus Common Stock, then ▇▇▇▇▇▇▇ shall use its commercially reasonable efforts to cause the Designated Director to resign as a member of the Board and all committees thereof.
All share numbers with respect to the Stratus Common Stock including the Merger Consideration are before giving effect to such reverse split.