Industrial Shareholders definition
Examples of Industrial Shareholders in a sentence
Upon consummation of the transactions contemplated by this Agreement, the URBF Class B Shares to be issued to the Non Industrial Shareholders, when issued and delivered, will be duly authorized and free of any and all liens, claims or encumbrances.
Upon Shareholder approval PNW will cause 31,500,000 shares to be issued to the Industrial Shareholders pursuant to the terms of this Agreement.
Prior to the Closing, Non Industrial will obtain from its Board of Directors and the Non Industrial Shareholders approval of this Agreement and the transactions contemplated hereby.
PNW and the Industrial Shareholders agree that 90% of the common shares issued and outstanding of Industrial shall be exchanged with PNW for 31,500,000 shares of the common stock of PNW.
This Agreement has been duly executed and delivered by each Non Industrial Shareholder and each constitutes the valid and binding agreement of each Non Industrial Shareholder enforceable against the Non Industrial Shareholders in accordance with its terms.
There are no actions, suits or claims or legal, regulatory, administrative or arbitration proceedings pending or, to the knowledge of any of the Non Industrial Shareholders threatened against or involving Non Industrial .
This Agreement, the financial statements of Non Industrial and all other information provided in writing by the Non Industrial Shareholders or Non Industrial or representatives thereof to URBF, taken as a whole, do not contain any untrue statement of a material fact or omit to state a material fact necessary to make any statement contained herein or therein not misleading.
Upon the terms and subject to the conditions of this Agreement, the Non Industrial Shareholders agree to exchange the Non Industrial Class A Shares for the URBF Class B Shares and URBF agrees to proportionately issue to the Non Industrial Shareholders an aggregate of 2,500,000 URBF Class B Shares on a one-for-twenty basis for each Non Industrial Class A Share held of record by the Non Industrial Shareholder.
From the date hereof through the Closing Date, the Non Industrial Shareholders shall cause Non Industrial to conduct its business substantially in the manner in which it is currently conducted.
URBF has heretofore delivered to Non Industrial and the Non Industrial Shareholders true, correct and complete copies of the Articles of Incorporation and By-laws or comparable instruments of URBF.