HCL Stock definition
Examples of HCL Stock in a sentence
At the Closing, each Shareholder shall sell, transfer, convey, assign and deliver to BP1 his HCL Stock free and clear of all Liens in exchange for the BP1 Stock listed on Annex A opposite such Shareholder’s name.
The Company Pledge Agreement and the TRIL Pledge Agreement shall remain in full force and effect and all filings necessary to perfect and protect the Bank's interest in the HCL Stock subject to the Company Pledge Agreement and the TRIL Pledge Agreement shall have been filed and kept current in the appropriate offices of all applicable jurisdictions.
Upon delivery of any certificate or certificates duly assigned, representing the same as herein contemplated and/or upon registering of BP1 as the new owner of such HCL Stock in the share register of HCL, BP1 will receive good title to such HCL Stock, free and clear of all Liens.
Permit HCL to issue any additional shares of capital stock or sell, assign or transfer or permit HCL to sell, assign or transfer, any of the HCL Stock owned by the Company or TRIL or, anything herein to the contrary notwithstanding, permit the creation of any liens or encumbrances on any of the HCL Stock, whether or not pledged pursuant to the Company Pledge Agreement or the TRIL Pledge Agreement, except pursuant to the Company Pledge Agreement and the TRIL Pledge Agreement.
The Advances shall be secured by a first priority lien upon and security interest in approximately 99.99% of the issued and outstanding HCL Stock pursuant to the Company Pledge Agreement and the TRIL Pledge Agreement.
Each Shareholder has agreed to transfer all of his HCL Stock in exchange for a number of newly issued shares of the Common Stock, $.001 par value, of BP1 (the “BP1 Stock”) that will, in the aggregate, constitute 93.75% of the issued and outstanding capital stock of BP1, on a fully diluted basis, as of and immediately after the Closing.
The Shareholder is the record and beneficial owner, and has good title to his HCL Stock, with the right and authority to sell and deliver such HCL Stock.
The TRIL Pledge Agreement, when executed and delivered by TRIL, shall constitute a valid, binding and enforceable pledge of 3,662,830 shares of HCL Stock, as security for the obligation of the Company to the Bank under the Note.
The Company owns beneficially (including 3,662,830 shares owned of record by TRIL) 52,480,013 shares of HCL Stock, which represents approximately 99.999% of the issued and outstanding HCL Stock, of which 48,817,183 shares, representing approximately 93.02%, are owned of record by the Company.