HNHI definition
Examples of HNHI in a sentence
They understand that the common stock and warrants have not been registered with any state or federal regulatory agency and may not be sold or otherwise transferred without compliance with Rule 144 under the Securities Act, and if HNHI requires, an opinion of counsel for HNHI.
If, however, the stock value of HNHI drops below an average of $1.50 per share bid price for a subsequent calendar quarter, Guaranteed Minimum Payments to SOTV would resume.
However the 2013 payments to SOTV could be adjusted downward and eliminated, starting with the fourth quarter 2013 forward, should the shares of HNHI common stock provided to SOTV meet or exceed an average of $1.50 per share bid price for a calendar quarter (the initial quarter for this calculation would start on the first day of the month following the month that any lock up or registration of the HNHI shares provided to ▇▇▇▇▇▇ are made free trading).
As part of the consideration for the Property, HNHI shall issue to Seller or its designee, Five Million (5,000,000) unregistered shares of common stock of HNHI.
However, if the average HNHI stock price per quarter for all four quarters of 2014 were at or above $1.50, Delivery would have no obligation to SOTV in 2014, the Guaranteed Minimum Payments all being thus payable to TVG.
TVG shall also grant to Seller, or its designee, One Million (1,000,000) warrants to acquire addition shares of HNHI, at an exercise price equal to Thirty-five Cents ($.35), exercisable at any time and with an expiration date five (5) years from the date of issue.
If owners of the shares elect to sell their HNHI common stock before the HNHI common stock reaches $1.00 per share, the Purchase Price of the Property shall be reduced in the ratio that the selling price per share is to $1.00 and Full Payment shall be redefined to reflect the difference.
If HNHI undertakes a registration of its shares with the U.S. Securities and Exchange Commission, Seller shall have “piggy-back registration rights” with respect to its HNHI shares.
Full Payment of the Purchase Price (“Full Payment”) shall be deemed to have been received by Seller when Five Million Dollars ($5,000,000) has been realized by Seller from any combination of (i) cash payments made directly to Seller from TVG, including the cash payments set forth in paragraph 2 below and (ii) proceeds derived from the value of HNHI common stock and warrants that are freely transferrable by Seller.
All other transfers of Seller’s HNHI shares shall be in accordance with applicable state and federal securities laws.