Purchaser Shares definition
Examples of Purchaser Shares in a sentence
All securities issued upon the surrender of the Predecessor Shares in accordance with the terms hereof, shall be deemed to have been issued in full satisfaction of all rights pertaining to such securities, provided that any restrictions on the sale and transfer of the Predecessor Shares shall also apply to the Purchaser Shares issued pursuant to the Initial Merger.
Except as will be set forth in Purchaser’s Organizational Documents, this Agreement, or Schedule 6.7(b), there will be no outstanding contractual obligations of Purchaser to repurchase, redeem or otherwise acquire any Purchaser Share(s) or any share capital or equity of Purchaser.
All issued Purchaser Share(s) will be duly authorized, validly issued, fully paid and nonassessable and not subject to or issued in violation of any purchase option, right of first refusal, preemptive right, subscription right or any similar right under any provision of Purchaser’s Organizational Documents or any contract to which Purchaser will be a party or by which Purchaser will be bound.
At or prior to the Initial Merger Effective Time, Purchaser shall take all corporate action necessary to reserve for future issuance a sufficient number of Purchaser Shares for delivery upon the exercise of the Purchaser Rights and the Purchaser Units after the Initial Merger Effective Time.
Upon formation, there will be the minimum number of allowed Purchaser Shares issued, and, except as set forth in this Agreement with respect to the Initial Merger or the Equity Incentive Plan or on Schedule 6.7(b), no other shares or other securities of Purchaser will be issued at the time of formation of Purchaser and until the Closing.