Examples of Optionor in a sentence
If the Optionee does not pay the applicable Note Subscription Price to the Optionor on any of the Note Subscription Dates in accordance with Section 3.1, then the Option will be deemed to have terminated effective as of the Breach Date, and all Notes outstanding on the Breach Date will, as of the Breach Date, convert automatically into Shares in accordance with Section 3.5.
There are no accrued and unpaid federal, provincial, state, county, local or foreign Taxes of the Optionor, including Taxes the Optionor is required by Applicable Laws to deduct, withhold or collect, that are due, whether or not assessed or disputed.
Other than the Shareholders’ Agreement which will be terminated pursuant to the terms of this Agreement, the Optionor is not a party to any shareholder, pooling, voting trust or other similar agreement or arrangement relating to the issued and outstanding shares in the capital of the Optionor or pursuant to which any Person may have any right or claim in connection with any existing or past equity interest in the Optionor and the Optionor has not adopted a shareholder rights plan.
The Optionor is a “taxable Canadian corporation” for purposes of the Tax Act and there are no federal, provincial, state, county, local or foreign Taxes, including Taxes the Optionor is required by Applicable Laws to deduct, withhold or collect, due and payable by the Optionor that have not been timely paid or deducted, withheld, collected and remitted.
The Optionor shall allot and issue the Optioned Shares, free and clear of any liens and encumbrances, to the Optionee in accordance with the registration and delivery instructions provided by the Optionee in the Exercise and Conversion Notice, effective of as the Exercise Date.