IDAD definition
Examples of IDAD in a sentence
IDAD has no subsidiaries, or agreements of any nature to acquire any subsidiary or to acquire or lease any other business or operations.
As at the Closing, the issued and outstanding shares of IDAD Capital Stock and IDAD Preferred Stock, and such shares reserved for issuance, is set forth on Schedule 2.5 (i) of the IDAD Disclosure Letter.
The IR-Med Shareholder has had an opportunity to discuss IDAD’s business, management and financial affairs with directors, officers and management of IDAD.
The IDAD Exchange Shares will entitle their holders to the same rights and obligations as all other shares of IDAD Common Stock.
Revenue Passenger shall mean a fare paying passenger and expressly excludes non-revenue employee travel, ID/AD 75 or higher, or passengers traveling on WorldPerks coupons.
Notwithstanding any other provision of this Agreement, no certificate for fractional shares of the IDAD Exchange Shares will be issued in the Share Exchange.
The parties acknowledge that at Closing, IDAD is required to file with the SEC the IR-Med Financial Statements, together with a pro forma IDAD financial statements as at a recent date, together with substantial information on the operations, business, management, industry and risks of IR-Med.
The execution and delivery by IDAD of this Agreement has been, and the consummation of the transactions contemplated hereby, has been duly and validly authorized by all requisite corporate action on the part of IDAD.
This Agreement constitutes a valid and binding obligation of IDAD enforceable against it in accordance with its terms, in each case, subject to applicable bankruptcy, insolvency, reorganization, moratorium and similar Laws affecting creditors’ rights and remedies generally and subject to general principles of equity (regardless of whether enforceability is considered in a proceeding at law or equity).
Upon issuance, the IDAD Shares (hereinafter the “IDAD Exchange Shares”) will be validly issued, fully paid and nonassessable and not subject to any pre-emptive or similar rights, and, subject to the Tax Ruling, the IR-Med Shareholders shall have acquired the sole legal and beneficial ownership of the IDAD Exchange Shares free and clear of all Encumbrances placed by IDAD.