Stony Hill definition
Examples of Stony Hill in a sentence
Each and every officer of Stony Hill is hereby appointed the attorney-in-fact of MCig, with full power of substitution, for the purpose of carrying out the provisions of this Agreement and taking any action and executing any instruments which Stony Hill may deem necessary or advisable to accomplish the purposes hereof, which appointment as attorney-in-fact is irrevocable and coupled with an interest.
Until MCig defaults in its obligations under the Purchase Agreement or under this Agreement (in any such event after notice from Stony Hill and the failure of MCig to cure such default within 30 days of receipt of notice of such default, an “Event of Default”), MCig shall be entitled to exercise all of its voting and consensual powers pertaining to the Collateral, or any part thereof, for all purposes not inconsistent with the terms of this Agreement.
THIS ▇▇▇▇ OF SALE, ASSIGNMENT AND ASSUMPTION AGREEMENT (this “▇▇▇▇ of Sale”) is made and executed as of this ____ day of February, 2017, by and between Stony Hill Corp., a Nevada corporation (“Buyer”), and MCig, Inc., a Nevada corporation (“Seller”).
It is expressly agreed that Stony Hill shall be deemed to have possession of the Pledged Shares and to hold the Pledged Shares.
MCig does hereby pledge and grant to Stony Hill a security interest (the “Security Interest”) in the Collateral.
Stony Hill and each assignee thereof may assign this Security Agreement and the obligations made under it without the consent of MCig, and each such assignee shall be entitled to all the rights and remedies of Stony Hill.
The consummation of the transactions contemplated in this Agreement (the “Closing”) shall take place at the offices of Stony Hill Corp, ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇., ▇▇▇▇▇ ▇▇▇, ▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, at 2:00 p.m. (local time) on February 23, 2017, or at such other time and place as the parties may agree (the “Closing Date”).
This Security Agreement may not be assigned without the prior written consent of Stony Hill.
This Security Agreement shall inure to the benefit of Stony Hill and its successors and assigns, and shall be binding upon all successors and assigns of MCig.
Without limiting the generality of the foregoing, Stony Hill shall have the right and power to receive, endorse and collect all checks made payable to the order of MCig representing any dividend or other distribution in respect of the Collateral, or any part thereof, and to give full discharge for the same.