Existing Common Stock definition
Examples of Existing Common Stock in a sentence
Such Shareholder is the beneficial owner of and has good and marketable title to its Existing Common Stock as described in this Agreement, free and clear of all Liens (other than pursuant to this Agreement and restrictions on Transfers arising under applicable securities laws).
Except for the Existing Common Stock, there is no other Company Common Stock legally or beneficially owned by such Shareholder.
Such Shareholder has and will have at all times through the Closing Date sole voting power (including the right to control such vote as contemplated herein), sole power of disposition, sole power to issue instructions with respect to the matters set forth in Article 2 hereof, and sole power to agree to all of the matters set forth in this Agreement, in each case with respect to the Existing Common Stock and with respect to the Covered Common Stock at all times through the Closing Date.
One or more of the Shareholders beneficially own all of the Existing Common Stock.
At the Closing, the Company shall deliver to Executive certificates representing the shares of Class B Common and Class C Common to be issued to Executive hereunder, registered in Executive's name, and Executive shall deliver to the Company certificates representing 25% of the Company's Existing Common Stock, which Existing Common Stock shall be immediately canceled by the Company.