Examples of Investor Stockholder in a sentence
The Investor Stockholder acknowledges and agrees that the CRC may issue an additional license for retail sales of cannabis based upon the Company’s cannabis cultivation license.
The Board and the Company may, and upon the request of Investor Stockholder shall, enter into indemnity agreements with Covered Persons and adopt written procedures pursuant to which arrangements are made for the advancement of expenses and the funding of obligations under Section 9.1.5 and containing such other procedures regarding indemnification as are appropriate.
Each current Stockholder (including, without limitation, the Founder and the Investor Stockholder), Director, employee and independent contractor of the Company shall enter into a binding, written agreement whereby such Person (i) agrees to the obligation set forth in Section 9.3.1, (i) assigns to the Company any ownership interest and right they may have in the intellectual property of the Company; and (ii) acknowledges the Company’s exclusive ownership of all such intellectual property.
In addition, the Stockholders and the Company acknowledge and agree that since the Company has filed the Election prior to the date that the Purchased Stock is being issued to the Investor Stockholder, then the Purchased Stock and any subsequently issued stock shall be treated as originally issued stock pursuant to Code Section 1202.
The Investor Stockholder shall not be required to make any additional payments to the Founding Stockholders for the award of a retail cannabis license, however, the Investor Stockholder agrees to lend the Company up to One Million Dollars ($1,000,000) per retail location to prepare such retail location for opening and providing the necessary working capital for such retail location (each such loan, a “Retail Loan”).