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.

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

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.

Examples of Tranche 1 Shares in a sentence

• 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.

• For the avoidance of doubt, any Tranche 1 Shares or Tranche 2 Shares granted pursuant to this Section 1(d)(iii) shall vest immediately upon grant.

• No vote of the holders of any class or series of capital stock or other Equity Interests of the Company is necessary to approve the issuance of the Tranche 1 Shares.

• The Purchaser shall deposit the amount of the Purchase Price payable for the Tranche 1 Shares (as set out in Exhibit A) into the Company’s account at Westpac Banking Corporation, the details of which are set out in Exhibit B, on the Tranche 1 Closing Date in immediately available cleared funds.

• The New York Stock Exchange has admitted the Tranche 1 Shares and the Tranche 2 Shares and Warrant Shares to listing, subject to official notice of issuance and, in the case of the Tranche 2 Shares and the Warrant Shares, subject to notice of shareholder approval of the issuance of the Tranche 2 Shares and the Warrant Shares.

More Definitions of Tranche 1 Shares

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

Tranche 1 Shares shall have the meaning set forth in the Securities Purchase 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 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). Tranche 3 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 has the meaning given in Clause 19.4(i);

Tranche 1 Shares means a number of shares of Grove Common Stock equal to (i) the Tranche 1 Purchase Price divided by (ii) $11.70, as adjusted to include any additional shares of Grove Common Stock issued to the Subscriber pursuant to Section ‎2.1.6.