Akashic definition
Examples of Akashic in a sentence
All shares of Akashic Capital Stock that are owned directly or indirectly by any subsidiary of Akashic and any shares of Akashic Capital Stock owned by Buyer, Sub or any other affiliate of Buyer shall be canceled and no stock of Buyer or other consideration shall be delivered in exchange therefor.
All outstanding shares of Akashic Capital Stock are, and any shares of Akashic Capital Stock are, and any shares of Akashic Common Stock issued upon exercise of any Akashic Option will be, when issued pursuant to exercise of any Akashic Option, validly issued, fully paid and non-assessable and not subject to any preemptive rights.
Buyer shall make available to representatives of Kubota and AII one business office at the principal office of Akashic in San Jose, California for the period from the Closing through March 31, 1998.
Pursuant to the Merger, among other things, all of the outstanding shares of Akashic capital stock ("Akashic Capital Stock") shall be converted into cash, at the rates set forth herein.
The Boards of Directors of Buyer, Sub, AII and Akashic believe it is in the best interests of their respective companies and the shareholders of their respective companies that Buyer acquire Akashic through a statutory merger of Sub with and into Akashic (the "Merger") and, in furtherance thereof, have approved the Merger.
As of the date hereof, the authorized capital stock of Akashic consists of 36,556,583 shares of Akashic Common Stock, par value $0.001 per share, and 31,756,583 shares of Preferred Stock, consisting of 19,200,000 shares of Series A Preferred Stock, par value $0.79828 per share, and 12,556,583 shares of Series B Preferred Stock, par value $0.001 per share.
Except as set forth in Section 5.6 below, since November 30, 1997 and through the Effective Time, Akashic has operated and will operate its business in the ordinary course consistent with past practices including, without limitation, collections of accounts receivable, payment of accounts payable and efforts to qualify its products in new customer programs.
AII has sought to sell the Business "as is" and to do so by selling Akashic and Buyer understands and acknowledges that it is acquiring Akashic on such basis.
Parent shall extinguish, or cause to be extinguished, without creating taxable income to Akashic, all long term debt and debentures of Akashic or its subsidiaries (other than the loan from Western Digital Corporation) (the "Debt"), and shall deliver evidence satisfactory to StorMedia that all such Debt has been extinguished.
At the Effective Time, Akashic's 1996, Stock Option Plan (the "Option Plan") and all options to purchase Akashic Common Stock then outstanding under the Option Plan shall be terminated and canceled in accordance with the terms of the Option Plan.