PIC Stock definition
Examples of PIC Stock in a sentence
The determination of each Investor to execute this Agreement, to contribute PIC Stock and Holdings Units pursuant hereto and to consent to the cancellation of its Old Common Stock and the issuance therefor of Company Stock has been made by such Investor independent of any other Investor and independent of any statements or opinions as to the advisability of such transaction which may have been made or given by any other Investor or by any agent or employee of any other Investor.
The liabilities of each PIC Investor in respect of the representations and warranties included in Section 4D above shall be several, in proportion to each such Investor's holdings of PIC Stock.
If, on the Closing Date, the Approvals required for the sale of the DHI Stock set forth on Schedule 3.3(b) and 4.3(b) have not been received, but all other conditions set forth in Article VI have been satisfied or waived, the parties agree to proceed with the Closing, but only with respect to the GLHIC Stock, the GEGA Stock, and the PIC Stock.
Some of the shares of the PIC Stock owned by the PIC Majority Shareholders are pledged to secure a debt to United Network, Inc., as disclosed in section 3.4 of the PIC disclosure Statement.
There are not now, and at the Closing Date there will not be, any voting trusts or other agreements or understandings to which PIC or any PIC Shareholder is a party or is bound with respect to the voting of PIC Stock.
Each of the Investors hereby agrees that it will not, directly or indirectly, transfer any interest in any of its PIC Stock, Holdings Units or Old Company Stock except to the Company at the Closing, unless this Agreement is terminated prior thereto in accordance with Section 7 above.
There are no statutory or contractual preemptive rights or rights of refusal with respect to the issuance of the PIC Stock hereunder.
MCCAC desires to purchase from the shareholders of PIC (the "PIC Shareholders") all of the issued and outstanding shares of capital stock of PIC, and the PIC Shareholders desire to sell to MCCAC the shares of PIC Stock listed on Exhibit A hereto which together constitute all of the issued and outstanding capital stock of PIC (the "Acquisition").
Upon execution of this Agreement, each Investor shall ------------ deliver to the Company stock certificates evidencing all of such Investor's outstanding shares of PIC Stock and Old Company Stock, duly endorsed in blank or accompanied by duly executed stock powers, and each Holdings Investor shall deliver to the Company such documentation as the Company may reasonably request to indorse such Holdings Investor's delivery to the Company of such Investor's Holdings Units.
All of the issued and outstanding shares of PIC capital Stock (the "PIC Stock") are owned by the PIC Shareholders as set forth on Exhibit A hereto.