Examples of US Purchased Shares in a sentence
Other than as contemplated herein, no person has, or has any right capable of becoming, any agreement, option, understanding or commitment for the purchase or other acquisition from the registered owners of any of the Pre-Amalgamation Shares and US Purchased Shares, and on Closing no such right shall exist in respect to the Canadian Purchased Shares and the US Purchased Shares.
At Closing, there will not be any restrictions of any kind on the transfer of the Canadian Purchased Shares except those set out in the Articles of Amalco; and there will not be any restrictions of any kind on the transfer of the US Purchased Shares except those set out in the Articles of Aitec Investments USA Inc.
US Seller has the right, authority and power to sell, assign and transfer the US Purchased Shares to US Buyer, UK Seller has the right, authority and power to sell, assign and transfer the UK Purchased Shares to UK Buyer, and German Seller has the right, authority and power to sell, assign and transfer the German Purchased Shares to German Buyer, in each case in accordance with the terms of this Agreement.
The US Purchaser is a corporation duly incorporated and subsisting under the laws of the State of Texas and has the corporate power and capacity to enter into this Agreement, to purchase the US Purchased Shares from the US Vendor as herein contemplated and to perform its other obligations hereunder.
The Company has agreed to issue to the US Purchasers and the US Purchasers, in reliance upon the representations and warranties of the Company and of RoweCan contained herein and subject to certain conditions contained herein, have agreed to take up and subscribe for an aggregate of 5,140,372 shares (the "US Purchased Shares") of Class B Preferred Stock, $.01 par value, of the Company (the "Class B Preferred Shares").
In addition, each of the Canadian Purchaser and the US Purchaser shall have completed its own due diligence investigation and such investigations shall not have disclosed any matter which they consider to be materially adverse to the Canadian Business, Amalco or the Canadian Subsidiaries, in the case of the Canadian Purchaser, or to the US Business or the US Subsidiaries, or their respective decision to acquire the Canadian or US Purchased Shares.
US Seller shall join with US Buyer in timely making elections under (A) Section 338(h)(10) of the Code and (B) any similar provision of state or local Tax Law with respect to US Buyer’s purchase of the US Purchased Shares pursuant to this Agreement (collectively, the “Section 338 Elections”) and shall join in any filings that may be necessary in order to effect the Section 338 Elections, including IRS Forms 8023 and 8883, and any comparable state or local Tax forms.
The transactions herein contemplated, including the sale and purchase of the Canadian Purchased Shares and the US Purchased Shares in accordance with the terms of this Agreement, are subject to the conditions precedent set out in this Section 5.2, each of which is hereby declared to be for the exclusive benefit of the Canadian Vendors and may be waived by them.