PHP Shares definition
Examples of PHP Shares in a sentence
The closing of the purchase and sale of PHP Shares upon the exercise by MGI or PHP of the options referred to in this Section 6.10(e) above shall take place at the offices of PHP as soon as practicable after written notice by either party that it has exercised such option.
MGI shall have no obligation to return the PHP Shares or any proceeds from the sale thereof, except pursuant to this Section 6.10.
Neither PHP nor MGI shall have any obligation to make any payment to the other in respect of PHP Shares sold after the end of the Shelf Registration Period.
MGI may sell all or any portion of the PHP Shares in brokers' transactions at prevailing market prices during the Shelf Registration Period; provided however, that MGI shall not sell more than 10,000 PHP Shares in any one trading day without the prior consent of PHP.
If the net proceeds from the sale of all of the PHP Shares sold during the Shelf Registration Period is greater than $2,400,000 (or a pro rata portion thereof, if less than all of the PHP Shares are sold), MGI shall pay PHP an amount equal to the difference, which amount shall be paid within five (5) days after the end of the Shelf Registration Period.