Examples of GBI in a sentence
PARENT will provide to TARGET not less than ten (10) business days prior to the Closing with a Severance Payment Schedule setting forth the severance payment amounts and schedule for payment thereof to the GBI employees so entitled and consistent with the provisions of this Section 7.7(c).
If payable by GBI, the "Applicable Termination Payment" shall be $1,000,000.
As used in this Section 7 and elsewhere in this Agreement GBI means PARENT, and Corgenix or CONX means TARGET.
The balance of the 2000 Pool shall be paid 50% to the GKN Executives, as a group, and 50% to the GBI Executives, as a group, with the amount to be paid to each such person being determined by the Compensation Committee.
As of the date of this Agreement, there are 10 million shares of the GBI Common Stock duly and validly issued and outstanding, fully paid, and non-assessable.
In such event, the Term Note will be convertible, at the election of GBI, into Common Stock of Corgenix at a conversion price of $.568 per Share.
Since September 30, 2004, GBI has continued to rxxxxxxxx its inventory in a normal and customary manner consistent with the prior and prudent practice prevailing in the business of GBI.
The delivery of the GBI Common Stock to PTS as herein contemplated will vest in PTS good, absolute and marketable title to all of the capital stock in GBI Common Stock as described herein, free and clear of all liens, claims, encumbrances, and restrictions of every kind, except those restrictions imposed by applicable securities laws or this Agreement.
GBI has good and marketable title in fee simple ---------- absolute to all real properties and good title to all other properties and assets used in its business or owned by it (except real and other properties and assets as are held pursuant to leases or licenses), free and clear of all liens, mortgages, security interests, pledges, charges, and encumbrances, other than as shown on the Financial Statement, including, but not limited to a tax lien for unpaid real estate taxes.
In addition, in the event of any unrightful refusal by Corgenix to proceed with the Merger, at the sole election of GBI, the Corgenix Note may be converted into 1,250,000 additional Common Shares of Corgenix at a conversion price of $.40 per Share subject to adjustment in accordance with the provisions of the Corgenix Note.