Priority Securities definition

Priority Securities is defined in Section 1.03(a).

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Priority Securities means (1) the Registrable Securities and (2) the shares of Common Stock or other securities subject to contractual demand registration rights held by persons or entities who have been granted such rights pursuant to the Wilhelmina Registration Rights Agreement.

Priority Securities has the meaning assigned to that term in Section 2(a).

Examples of Priority Securities in a sentence

• Such waiver and release are part of the consideration for the issuance of the First Priority Securities.

• Tencent shall be obligated to buy, and the Company shall be obligated to sell, the Tencent Priority Securities with its own funds or funds from its Controlling shareholders without requiring the prior consent, approval or other discretionary action of any third party, to make the payments required hereunder.

• Tencent shall have thirty (30) days thereafter to conclude a Transfer of the Tencent Priority Securities at the same price and subject to the same terms and conditions as described in the Tencent Participation Notice.

• All First Priority Securities issued upon any registration of transfer or exchange of First Priority Securities shall be the valid obligations of the Company, evidencing the same debt, and subject to the other provisions of this Section 2.6, entitled to the same benefits under this First Priority Indenture, as the First Priority Securities surrendered upon such registration of transfer or exchange.

• The Common Representative shall not be liable with respect to any action taken by it, or omitted to be taken by it, in accordance with the direction of the First Priority Indenture Trustee, the Second Priority Indenture Trustee, or the Beneficial Owners of the Second Priority Securities to the extent such direction is expressly permitted or required in Article 4 hereof.

• The quorum at any meeting called to adopt a resolution will be Persons holding or representing at least a majority in aggregate principal amount of the outstanding First Priority Securities, and the quorum at any adjourned meeting will be Persons holding or representing a majority in aggregate principal amount of the outstanding First Priority Securities.

• This Agreement shall be solely for the benefit of the Pledgee and the holders of First Priority Obligations and First Priority Securities represented thereby, the Pledgor, and no other person or entity shall be a third-party beneficiary hereof.

• The Registrar shall keep a register of the First Priority Securities and of their transfer and exchange.

• Until so exchanged, the temporary First Priority Securities shall in all respects be entitled to the same benefits under this First Priority Indenture as First Priority Securities in permanent form authenticated and delivered hereunder.

• Each First Priority Guarantor hereby acknowledges communication of the terms of this First Priority Indenture, the First Priority Securities, and all other First Priority Documents, and consents to and approves of the same.

More Definitions of Priority Securities

Priority Securities has the meaning assigned to that term in SECTION 2(A) of this Agreement.

Priority Securities means the Optional Securities designated as priority securities in Schedule B hereto. "NON-PRIORITY SECURITIES" shall mean the Optional Securities designated as non-priority securities in Schedule B hereto. Each time for the delivery of and payment for the Optional Securities, being herein referred to as an "Optional Closing Date", which may be the First Closing Date (the First Closing Date and each Optional Closing Date, if any, being sometimes referred to as a "CLOSING DATE"), shall be determined by the Underwriter but shall be not later than five full business days after written notice of election to purchase Optional Securities is given. The Custodian will deliver the Optional Securities being purchased on each Optional Closing Date to the Underwriter, against payment of the purchase price therefor in Federal (same day) funds by official bank check or checks or wire transfer to an account or accounts at a bank(s) acceptable to the Underwriter drawn to the order of the Custodian in amounts relating to the number of Optional Securities being sold by each such Option Selling Shareholder as determined pursuant to the three preceding paragraphs, at the above office of ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇. The certificates for the Optional Securities being purchased on each Optional Closing Date will be in definitive form, in such denominations and registered in such names as the Underwriter requests upon reasonable notice prior to such Optional Closing Date and will be made available for checking and packaging at the office of ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ at a reasonable time in advance of such Optional Closing Date.

Priority Securities have the meanings set forth in the Registration Rights Agreement.

Priority Securities shall have the meaning given ------------------- such term in Section 3.1(a)(i) hereof.

Priority Securities means an aggregate of 5,461,500 shares of Common Stock consisting of (i) the 5,200,000 shares of Common Stock that may be issued upon the exercise of 5,200,000 warrants originally sold as part of units in the Company’s initial public offering and (ii) the 261,500 shares of Common Stock that may be issued upon the exercise of 261,500 warrants originally sold in a private placement prior to the Company’s initial public offering.