Tranche 1 Shares definition

Tranche 1 Shares. The Tranche 1 Shares shall vest with respect to 20% of the total Tranche 1 Shares on each of the first, second, third, fourth and fifth annual anniversaries of the Grant Date, provided that the Grantee’s Employment continues through such time.

Tranche 1 Shares shall have the meaning set forth in the Securities Purchase Agreement.

Tranche 1 Shares has the meaning set forth in Section 2.11(b)(i).

Examples of Tranche 1 Shares in a sentence

• The Company wishes to retain as much flexibility as possible to issue additional equity securities in the future without having to obtain Shareholder approval for such issues under Listing Rule 7.1. Accordingly, the Company is seeking Shareholder ratification pursuant to Listing Rule 7.4 for the issue of the Tranche 1 Shares.

• The issue of the Tranche 1 Shares does not fit within any of the exceptions set out in Listing Rule 7.2 and, as it has not yet been approved by Shareholders, it effectively uses up part of the 25% limit in Listing Rules 7.1 and 7.1A, reducing the Company’s capacity to issue further equity securities without Shareholder approval under Listing Rule 7.1 and 7.1A for the 12 month period following the date of issue of the Tranche 1 Shares.

• As of each Closing Date, the Tranche 1 Shares or the Tranche 2 Shares, as the case may be, will be duly and validly authorized and, when issued and delivered to the Subscriber in accordance with the terms of this Agreement, the Tranche 1 Shares or the Tranche 2 Shares, as the case may be, will be validly issued, fully paid and non-assessable and will not have been issued in violation of or subject to any statutory or contractual preemptive or similar rights.

• The Tranche 2 and 3 Award Shares shall be forfeited immediately in the event that the Tranche 1 Shares have not vested on or before March 31, 2009, and the Participant shall have no further rights with respect thereto.

• Furthermore, each Holder consents to the terms of and authorizes and directs the Trustee (in each of its capacities) and the First Lien Collateral Agent to enter into and perform the Intercreditor Agreements and Security Documents in each of its capacities thereunder.

More Definitions of Tranche 1 Shares

Tranche 1 Shares means 1,010,000 shares of Series F Preferred to be issued on the Closing Date, as such term is defined in the Merger Agreement.

Tranche 1 Shares means such number of shares of Preferred Stock as shall equal (x) $150,000, divided by (y) the Tranche 1 Shares and Tranche 2 Shares Exercise Price in effect from time to time, (ii) Tranche 2 Shares” means such number of shares of Preferred Stock as shall equal (x) $150,000, divided by (y) the Tranche 1 Shares and Tranche 2 Shares Exercise Price in effect from time to time; and (iii) “Tranche 3 Shares” means such number of shares of Preferred Stock as shall equal (i) $150,000, divided by (y) the Tranche 3 Shares Exercise Price in effect from time to time; in all cases subject to adjustment from time to time in accordance with the provisions of this Warrant.

Tranche 1 Shares has the meaning set forth in the Recitals.

Tranche 1 Shares means the Shares set out in item 5 of Schedule 2 (Details). Tranche 2 Shares means the Shares set out in item 5 of Schedule 2 (Details). Trust has the meaning given in clause 6.2(a).

Tranche 1 Shares means the shares in the Company listed opposite its name in Schedule 1 (List of Shares) as Collateral Shares for the Secured Liabilities under Tranche 1 Debentures.

Tranche 1 Shares means 200,000 shares of Common Stock (as may be adjusted pursuant to Section 6), which shall become exercisable upon such date as the FDA Funding Percentage is greater than or equal to 16%.

Tranche 1 Shares means 203,640,000 RHL Shares.