Class V Stock definition
Examples of Class V Stock in a sentence
Each Group I Director must (i) satisfy the independence requirements under the current listing standards of the primary stock exchange on which the Class V Stock is listed, (ii) meet the financial literacy requirements of the listing standard of the primary stock exchange on which the Class V Stock will be listed, and (iii) in each case, satisfy the corresponding rules and regulations of the SEC, including the requirements for audit committee membership set forth in Rule 10A-3 under the Exchange Act.
Seller has reserved a sufficient number of shares of Class V Stock for issuance to Buyer or a Permitted Holder upon exercise in full of the Class V Warrant for shares of Class V Stock.
Seller has reserved a sufficient number of shares of Class A Stock for issuance upon (i) exercise in full of the Class A Warrant, (ii) exercise in full of the Class V Warrant for shares of Class A Stock or (iii) conversion of the Class V Warrant Shares into shares of Class A Stock in accordance with the terms of the Class V Stock.
The Warrants upon issuance, the Class V Warrant Shares and the Warrant Shares upon issuance in accordance with the terms of the Warrants, and the shares of Class A Stock issuable upon the conversion of the Class V Warrant Shares in accordance with the terms of the Class V Stock, will be duly authorized, validly issued and outstanding and fully paid and nonassessable.
Prior to the Effective Time, representatives of Parent shall consult with the Chairman of the Board of Directors of the Company concerning the three (3) persons to serve on the Board of Directors of Parent following the Effective Time who satisfy the independence requirements of a company listed on the national securities exchange on which the Class V Stock will be listed (the “Parent Independent Directors”).
For the avoidance of doubt, the restrictions on Transfer contained in this Article VIII shall not apply to the Transfer of any capital stock of PubCo; provided that no shares of Class V Stock may be Transferred unless a corresponding number of Units are Transferred therewith in accordance with this Agreement.