Tranche 2 Shares definition

Tranche 2 Shares. During the Grantee’s Employment, the Restricted Shares shall vest as follows:

Tranche 2 Shares means a number of Common Shares equal to the Tranche 2 Purchase Price divided by the volume weighted average trading price of Common Shares on the New York Stock Exchange for the 5-trading days ending immediately prior to April 29, 2022. The Tranche 1 Shares and Tranche 2 Shares, in each case, when issued by the Company as contemplated by this Section 1(a) are referred to herein collectively as the “Acquired Shares”.

Tranche 2 Shares has the meaning set forth in the Recitals.

Examples of Tranche 2 Shares in a sentence

• The Tranche 2 Shares shall vest upon the achievement of a Qualifying Return to Investor, provided that the Grantee’s Employment continues through such time.

• 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.

• 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.

• Such Tranche 2 Call Notice shall state (i) that the Investor is exercising the Tranche 2 Call Option and (ii) the number of (A) Tranche 2 Shares, (B) Option Class A Warrants and (C) Option Class B Warrants the Investor wishes to purchase, and, upon receipt of a Tranche 2 Call Notice, the Company shall be obligated to sell the number of Tranche 2 Shares, Option Class A Warrants and Option Class B Warrants set forth in such Tranche 2 Call Notice, upon the terms and subject to the conditions set forth herein.

• The Purchaser hereby represents and warrants to the Company as of the date of this Agreement and as of the Tranche 1 Closing and (subject to the Company having received the approval of its shareholders to issue the Tranche 2 Shares) as of the Tranche 2 Closing that the Purchaser is not aware of any general solicitation or publication of any advertisement, as such terms are defined in Regulation D under the Securities Act, in connection with the transactions contemplated in this Agreement.

More Definitions of Tranche 2 Shares

Tranche 2 Shares has the meaning set forth in Section 2.11(b)(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 2 Shares shall have the meaning set forth in the Securities Purchase Agreement.

Tranche 2 Shares means a number of VGAC Common Shares equal to (i) the Tranche 2 Purchase Price divided by (ii) $10.00.

Tranche 2 Shares has the meaning assigned thereto in the Restricted Stock Award and Special Bonus Agreement.

Tranche 2 Shares has the meaning given in section 4.2(1)(c)(i);

Tranche 2 Shares means the up to 1,010,000 shares of Series F Preferred constituting the Acquiror Convertible Preferred Stock Tranche 2, as such term is defined in the Side Letter.