Stock Limit definition
Examples of Stock Limit in a sentence
The Executive agrees not to make any sales of vested Options unless the Executive would, at the time of the sale, be in compliance with the Retention Limit and the Common Stock Limit.
This Retention Limit and the Common Stock Limit will supersede any Retention Limit in any prior dated option or other agreement between the Company and the Executive.
If at any time after the date hereof the aggregate amount of Company Equity held by the Executive falls below the Retention Limit or if the aggregate amount of Common Stock held by the Executive falls below the Common Stock Limit, in either case, because of a decline in the Fair Market Value of the Common Stock from its Fair Market Value as of the date hereof, the Executive will have three (3) years to reach the Retention Limit or the Common Stock Limit, as applicable.
Holders of Preferred Stock shall vote on all matters submitted to holders of Common Stock with each share of Preferred Stock representing such number of votes as is equal to the number of shares of Common Stock into which it is convertible after taking into effect the Common Stock Limit.
Any Preferred Stock not converted in connection with the offering described in (a) immediately above as a result of the Common Stock Limit shall be redeemed as described below in “Redemption Rights; Rights on Default”.
In the event the aggregate amount of Company Equity held by the Executive falls below the Retention Limit or if the aggregate amount of Common Stock held by the Executive falls below the Common Stock Limit, in either case, because of a decline in the Fair Market Value of the Common Stock from its Fair Market Value as of the date hereof, the notice giving rise to the 30-day opportunity to cure shall not be given by the Company to the Executive until the three (3) year period referred to above has expired.
In the event the aggregate number of shares of Parent Common Stock that would be issuable to the Company’s equityholders pursuant to this Agreement would result in the issuance or reservation of shares of Parent Common Stock in excess of the Common Stock Limit (but for the application of this Section 2.01(e)), subject to Section 2.01(i), each of the Stock Ratio and the Exchange Ratio shall be equitably adjusted to the minimum extent necessary to avoid such result.
Anything in this Agreement to the contrary notwithstanding, the aggregate number of shares of Parent Common Stock issuable at the Closing will not exceed the Common Stock Limit.
In the event the aggregate amount of Company Equity held by the Executive falls below the Retention Limit or if the aggregate amount of Common Stock held by the Executive falls below the Common Stock Limit, in either case, because of a decline in the Fair Market Value of the Common Stock from its Fair Market Value as of the date hereof, the notice giving rise to the 90-day opportunity to cure shall not be given by the Company to the Executive until the three (3) year period referred to above has expired.