Examples of WorldPort Common Stock in a sentence
The Deferred Stock has been duly and validly reserved for issuance from the authorized and unissued shares of WorldPort Common Stock by action of the WorldPort Board of Directors.
Upon the Company acquiring shares of WorldPort Common Stock pursuant to the Offer, the Company, Heico and JOHCM shall take all necessary and appropriate action to cause the Merger to become effective as soon as practicable.
In the event the WWC Financial Statements are not delivered to WorldPort within forty five (45) days after the Closing, the Escrow Agent shall return 500,000 shares of the WorldPort Common Stock to WorldPort for cancellation.
If, after the Effective Time, any such holder fails to perfect or effectively waives, withdraws or loses such right, such WorldPort Common Stock will thereupon be treated as if they had been converted into and have become exchangeable for, at the Effective Time, the right to receive the Merger Consideration, without any interest or dividends thereon.
In the event a formal business relationship which is approved and acceptable to WorldPort's Board of Directors, with one or more debit card/pre-paid calling card distribution networks, or one or more long distance service carriers or resellers, as described above is not entered into by December 31, 1997, the Escrow Agent shall return 200,000 shares of WorldPort Common Stock to WorldPort for cancellation.
As of the Effective Time, by virtue of the Merger and without any action on the part of the WWC Shareholder and subject to the provisions of Section 1(f) hereof, all WWC Shares issued and outstanding immediately prior to the Effective Time shall be converted into 1,400,000 shares of validly issued, fully paid and nonassessable shares of WorldPort Common Stock.
WorldPort shall deliver the 1,400,000 shares of WorldPort Common Stock to OTC Stock Transfer, Inc.
The WWC Shareholder represents and warrants that he has no present plan, intention or arrangement to sell, transfer or otherwise dispose of any shares of WorldPort Common Stock to be received in the Merger.
In the event that WorldPort does not enter into an acceptable business relationship with a Business Relationship Entity by December 31, 1997, the Escrow Agent shall return 700,000 shares of WorldPort Common Stock to WorldPort for cancellation.
In the event that Heico determines to abandon the transaction, or that Hambro determines to abandon the transaction following a third party offer for the acquisition of all of the outstanding shares of WorldPort Common Stock, it must so notify the other in writing and this Agreement shall then terminate, other than as to obligations incurred hereunder prior to such termination.