Frozen Stock definition

Frozen Stock initially shall mean all of the Shares; provided, however, that the Release Percentage of the Shares held by each Shareholder (with any fractional share rounded up to the next whole share) shall cease to be Frozen Stock at the end of each of the first six (6) calendar months commencing with June 30, 2001 (each, a "Release Period"), and a Fixed Portion (as defined below) of the Shares held by each Shareholder shall be released at the end of each calendar month commencing December 31, 2001, such that there shall be no Frozen Stock after the passage of twelve
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Examples of Frozen Stock in a sentence

  • Purchaser has agreed in the Reorganization Agreement to use commercially reasonable efforts to register certain of the Frozen Stock.

  • Notwithstanding ------------------------------------------------- any rights conferred on any Shareholder in this Agreement, neither Purchaser nor Company can represent or warrant that a registration statement can or will be filed or become effective, or if declared effective, remain effective at any or all times when a Shareholder desires to sell any of its Shares that are no longer Frozen Stock.

  • In absence of an effective registration statement, the Shareholders holding previously Frozen Stock will likely be unable to sell any of such shares for a period of at least one (1) year following the Closing Date.

  • Any attempted or actual Transfer of Frozen Stock in violation of this Section of this Agreement shall be void and of no effect.