Examples of TRC Common Stock in a sentence
Until so surrendered and exchanged, each outstanding certificate which, prior to the Effective Date, represented TRC Common Stock shall, following the Effective Date, be deemed for all purposes to evidence ownership of the number of shares of Harvest Common Stock into which such shares of TRC Common Stock have been converted.
The authorized capital stock of TRC consists of 100,000,000 shares of TRC Common Stock, no par value per share, and 1,000,000 shares of preferred stock, $1.00 par value per share, of which 2,000 shares have been designated as Class A.
Subject to the adjustments provided by Section 2.4, the number (the “Applicable Number”) of shares of TRC Common Stock issuable for each Third Party TEC Common Share or Vested Option exchanged pursuant to Section 2.1 from time to time is established on the date hereof as one (1), notwithstanding that a Third Party TEC Common Shareholder or Optionholder becomes party hereto after the date hereof.
TRC has no obligation to pay any documentary, stamp, transfer or other similar taxes that may be payable in respect of any transfer involved in the issuance or delivery of any shares of TRC Common Stock pursuant to the Rights.
None of the TRC Common Stock received by any stockholder-employee of TEXONA pursuant to the Merger is or will be separate consideration for, or allocable to, any such employment, consulting or similar arrangement.
There are 4,110,000 shares of TRC Common Stock issued and outstanding, and or warrants and 2,000 shares of TRC Class A Preferred Stock, all of which are owned beneficially and of record by the listed shareholders.
Except as otherwise provided herein, this Agreement shall bind and inure to the benefit of and be enforceable by TRC and their successors and assigns, and each Stockholder and their respective successors and permitted assigns (and heirs, executors and administrators in the case of individual Stockholders), so long as they beneficially own TRC Common Stock or TEC Common Shares.
As of the Effective Date, all shares of TRC Common Stock that are outstanding shall be converted into the right to receive a total of 18,000,000 fully paid and non-assessable shares of Harvest Common Stock (or such higher adjusted amount as provided for in the recitals, equally among all issued and outstanding shares of TRC Common Stock unless ratably reduced pursuant to a reverse split of Harvest Common Stock.
In addition, certain of the Parties are party to the Shelf Registration Rights Agreement and certain of the Parties have executed subscription agreements in connection with their purchase of TRC Common Stock in the private placement referred to in clause C of the recitals hereto.
TRC hereby represents, warrants and covenants that it has reserved for issuance and will at all times keep available, free from pre-emptive and other rights, out of its authorized and unissued capital stock such number of shares of TRC Common Stock as are now and may hereafter be required to enable and permit TRC to meet its obligations hereunder.