Former Management definition
Examples of Former Management in a sentence
At the Effective Time of the Merger, in accordance with the terms of the Escrow Agreement, Parent shall deliver to Sichenzia ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ LLP, as escrow agent (the “Escrow Agent”), (i) the Former Management Shares (as defined herein) (the “Escrow Shares”); and (ii) Seventy Five Thousand Dollars ($75,000) in cash from the total amount payable pursuant to the terms of the Tuffin Severance Agreement (the “Escrow Cash” and, collectively with the Escrow Shares, the “Escrow Items”).
Article III Direction Given By Torpedo's Former Management In the event that Torpedo is successful in raising any funds in the private market or in a public offering, Torpedo shall notify Fong within 10 days thereof, and Fong, together with the other forme▇ ▇▇nagement of Torpedo, shall in▇▇▇▇ct the directors and officers of Torpedo on the payment dates and the payment amount of the Torpedo liabilities.
If for any reason the Former Management Payments are not paid by the Former Management Payout Deadline, subject to a ten (10) day cure period, the payment of the Deferred Amount in its entirety shall be accelerated and become immediately due and payable.
The date on which XTI has delivered (i) the Series 9 Redemption Amount to Ali by wire transfer of immediately available funds; (ii) the Deferred Amount to Ali by wire transfer of immediately available funds; (iii) the Outstanding Amount to Ali by wire transfer of immediately available funds; (iv) the Former Management Payments to Loundermon and the recipients of the Bonus Plan Payments by wire transfer of immediately available funds, shall be known as the “Completion Date”.
The Company agrees to pay the Former Management Payments on the earlier of (a) the closing date of the Company’s next financing transaction and (b) thirty (30) days following the Effective Date of this Agreement in accordance with the terms of this Agreement (“Former Management Payout Deadline”).