Examples of Equity Plan Shares in a sentence
The Borrower hereby irrevocably authorizes and directs Smart Tech to apply all cash dividends and other cash distributions paid in respect of the Equity Plan Shares held pursuant to any Pledge Agreement and received from the Pledgee towards the repayment of the then outstanding Loan Obligations.
We have acted as your counsel in connection with the preparation of the Registration Statement and are familiar with the proceedings taken by the Company in connection with the authorization of the issuance and sale of the Equity Plan Shares.
Pursuant to applicable policies of the TSX, shareholder approval for the establishment of the Equity Plan and the allotment of the Equity Plan Shares for issuance under the Equity Plan is to be by a simple majority of the votes cast by or on behalf of shareholders represented at the Meeting, other than those directors or officers of the Company who may be granted awards under the Equity Plan and their associates.
Borrower hereby irrevocably authorizes and directs Smart Tech to advance the Participant Loan and to use the Participant Loan for the sole purpose of purchasing the Equity Plan Shares on behalf of the Borrower in accordance with the terms and conditions of the Plan and the Participation Election.
The Registration Statement relates to 1,300,000 shares (the "Equity Plan Shares") of the Company's Common Stock, $0.01 par value, offered pursuant to the provisions of the Company's 1992 Equity Incentive Plan (the "Plan").
Based upon the foregoing, we are of the opinion that when issued in accordance with the terms of the Plan, the Equity Plan Shares will be duly authorized, validly issued, fully paid, and nonassessable.
We have acted as your counsel in connection with the preparation of the Registration Statement and are familiar with the proceedings taken by the Company in connection with the authorization of the issuance and sale of the Equity Plan Shares and the Non-Equity Plan Shares.
The Stock Plan Shares, the 2017 Equity Plan Shares and the MSPP Shares are referred to herein collectively as the “Registered Shares.” This opinion letter is being delivered in accordance with the requirements of Item 601(b)(5) of Regulation S-K under the Securities Act.
In the event the Borrower sells any of the Equity Plan Shares, the Borrower will pay an amount equal to the gross proceeds from the sale of such Equity Plan Shares to Smart Tech prior to 5:00 p.m. (Calgary time) on the fifth day following the sale of such Equity Plan Shares and such amount will be used by Smart Tech to pay down a portion of the Participant Loan.
The Registration Statement relates to (i) 1,025,000 shares (the "Equity Plan Shares") of the Company's Common Stock, $0.01 par value, offered pursuant to the provisions of the Company's 1992 Equity Incentive Plan (the "Plan") and (ii) 178,688 shares of the Company's Common Stock offered pursuant to the Company's Non-Statutory Stock Options granted from December 1997 through May 1998 (the "Non-Equity Plan Shares").