Released Stock definition
Examples of Released Stock in a sentence
Accordingly, the Released Stock shall no longer constitute either "Pledged Securities" or "Collateral Coverage Securities" for any purpose of the Credit Agreement.
Clariti thereupon, at no cost to Escrowed Sellers, will use its reasonable commercial efforts to cause to be included in such registration statement all Released Stock which Clariti has been so requested to register by such Escrowed Seller.
In the event of a Change of Control, all restrictions upon any Restricted Stock shall lapse immediately and all such Restricted Stock shall become Released Stock for the purposes of this Agreement and will be deemed “vested” and will no longer be Restricted Stock for the purposes of this Agreement or the Plan.
However, should, pursuant to the Credit Suisse Contract, SSI and/or SSD receive from or retain the Released Stock free of the rights of Credit Suisse, the same shall be pledged to the Lenders pursuant to the Amended and Restated Pledge Agreement between the Borrowers and Agent, dated April 17, 1998.
Any such Escrowed Seller may, by written response delivered to Clariti within twenty (20) days after the delivery of such notice, request that all or a specified part of the Released Stock held by Escrowed Seller be included in such registration.
The dividends or other distributions so withheld by the Company and attributable to any particular share of the Restricted Stock (and earnings thereon, if applicable) shall be distributed to the Awardee upon such share becoming a Released Stock (as defined herein) and, if such share is forfeited or otherwise cancelled in accordance with this Award Agreement, the Awardee shall have no right to such dividends or other distributions.
Effective upon the Effective Date, the Lender hereby releases, discharges, retransfers and reassigns, without warranty or recourse of any kind, from the liens created under or evidenced by any of the Financing Agreements, all of Lender's right, title and interest in and to the Released Stock.
For purposes of this Section 4.07 only, each Released Stock Pledge Subsidiary shall be deemed an Unrestricted Subsidiary (but the Company shall not be deemed to have designated any such subsidiary as an Unrestricted Subsidiary for any other purpose of this Indenture).
All deferred revenue constituted by services invoiced prior to Completion by the Vendor in respect of invoices raised prior to Completion by the Vendor but in respect of services to be supplied by the Business after Completion shall belong to the Purchaser, and shall be payable by the Vendor to the Purchaser, and all Released Stock Payments treated as if an apportionment sum under this clause 8.1 and shall be payable by the Purchaser to the Vendor, in accordance with Clause 8.2.
Simultaneously with the receipt of proceeds by the Selling Shareholders from the sale of the Released Stock, the selling Shareholders shall loan the Company an aggregate of $750,000 pursuant to a Promissory Note which shall provide that such loan shall mature 30 days after the date it is made and shall be interest free until maturity.