AC Common Stock definition
Examples of AC Common Stock in a sentence
As used herein, the fair market value of the A-C Common Stock shall be equal to the average price of the A-C Common Stock during the 30 trading days ending on the 2nd trading day preceding the date of evaluation.
The issuance and sale of the A-C Common Stock to the Shareholders has been duly authorized and if, as and when delivered to the Shareholders, such shares will be duly and validly issued and outstanding, fully paid and nonassessable and will be free of any Encumbrance (as defined below), other than those imposed pursuant to this Agreement and securities laws of general application.
The Shareholders shall have no right to transfer or assign the right to receive the A-C Common Stock prior to the issuance thereof.
The authorized capital stock of A-C consists of 2,000,000 shares of A-C Common Stock, 1,588,128 shares of which have been validly issued as of the date hereof, and such issued shares are fully paid and nonassessable.
The A-C Common Stock issued pursuant to this Section 3.1(a) shall be duly authorized, fully paid and non-assessable.
The price of the A-C Common Stock on any trading day shall mean the mean between the closing bid and ask price for the A-C Common Stock, as quoted by NASDAQ or any exchange on which the A-C Common Stock is then traded.
Without limiting the generality of the foregoing, A-C hereby acknowledges that (i) the obligation of A-C to issue shares of A-C Common Stock to the Shareholders is fundamental and required for the protection of the Shareholders and to preserve for the Shareholder the benefits of the Merger, (ii) the A-C Common Shares are of a unique character, and (iii) a breach of such obligation will result in irreparable harm and damages to the Shareholders which cannot be adequately compensated by a monetary award.
Notwithstanding the foregoing, A-C's obligation to effect the Rights Offering shall be tolled during any period during which the fair market value of the A-C Common Stock is less than $2.00 (equitably adjusted for any reverse stock split or other recapitalization and shall be cancelled if the fair market value of the A-C Common Stock remains less than $2.00 (equitable adjusted for a reverse stock split or other recapitalization) for more than 18 months following the Effective Date.
All shares of A-C Common Stock issued in accordance with Section 3.1 shall be deemed to be in full satisfaction of all rights pertaining to shares of OilQuip Common Stock held by the Shareholders, and shall be duly authorized, fully paid and non-assessable.