Subject to Forfeiture definition

Subject to Forfeiture means that portion of this Warrant which has not Vested and therefore may not be exercised. If the Company is acquired in an acquisition or takeover before April 15, 2008, all Warrant shares Subject to Forfeiture shall become Vested at the Closing of the acquisition or takeover. If the Company's convertible debt outstanding as of April 30, 2007 is refinanced through the contacts of the Company's chairman rather than Bayberry Capital, then 50% of this warrant shall be forfeited.
Sample 1
Subject to Forfeiture means that portion of this Warrant which may not be exercised. This portion shall be calculated by taking 2,000,000 minus the lesser of (i) 2,000,000 or (ii) the cumulative gross profit (in dollars) of all Gilsor originated acquisitions (provided such acquisition was signed on or before October 15, 2008 and closed on or before January 15, 2009) for the 12 month periods immediately preceding acquisition by the Company and dividing the difference by 1.5464. An acquisition shall count as a "Gilsor originated acquisition" if it is sourced by any of the former shareholders of Gilsor Technology Holdings, Inc. If the Company is acquired in an acquisition or takeover before April 15, 2008, all Warrant shares Subject to Forfeiture shall become Vested at the Closing of the acquisition or takeover.
Sample 1
Subject to Forfeiture means that portion of this Warrant which may not be exercised. This portion shall be calculated by taking 4,000,000 minus the greater of (i) 2,000,000 or (ii) the cumulative gross profit (in dollars, but in no case greater than 4,000,000) of all Gilsor originated acquisitions (provided such acquisition was signed on or before October 15, 2008 and closed on or before January 15, 2009) for the 12 month periods immediately preceding acquisition by the Company and dividing the difference by 1.5464. An acquisition shall count as
Sample 1

Examples of Subject to Forfeiture in a sentence

  • Each certificate representing the Award Shares shall be endorsed with the following legend: Shares are Restricted & Subject to Forfeiture The securities evidenced by this certificate are subject to certain restrictions (including restrictions on transferability) and are subject to forfeiture, all as set forth in an Employee Restricted Stock Agreement dated [INSERT], a copy of which is available from the Company.

  • Xxxxxxxx Title: Chief Executive Officer EXHIBIT A Initial Shareholders Name of Initial Shareholder Number of Shares Date of Insider Letter Modiv Venture Fund, LLC 2,875,000 [●], 2021 EXHIBIT B Escrow Shares Subject to Forfeiture Modiv Venture Fund, LLC – 375,000 EXHIBIT C Insider Letter(s) Insider Letter by and between the Company, Modiv Venture Fund, LLC and Chardan Capital Markets LLC, dated [●], 2021.

  • If prior to the third anniversary of the Closing Date, there is a Termination of Employment of the Purchaser for Cause or the Purchaser resigns without Good Reason or retires, then all of the Shares Subject to Forfeiture shall be forfeited (whether or not then held by Purchaser) (each such event, a "Forfeiture Event").

  • Shares Subject to Forfeiture shall be deemed no longer subject to forfeiture immediately prior to the occurrence of the Restriction Lapse referred to in clause (iv) or (v) of this Section 5.2.

  • Xxxxx 10,000 September 14, 2021 EXHIBIT B Escrow Shares Subject to Forfeiture Name of Stockholder Number of Shares WinVest SPAC LLC 333,044 Mxxxxx Xxxxxxxxxxxx 9,956 Mxxx Xxxxxx 4,000 Lxxxxxxx X.

  • The amount of any commission, discount or other compensation to be paid by the Company to Ladenburg in connection with the sale of the Placement Securities shall be calculated in accordance with the terms set forth in Exhibit B.

  • Date on Which Portion of Restricted Stock Award Is No Longer Subject to Forfeiture % of Restricted Stock Award No Longer Subject to Forfeiture Earlier vesting of the Restricted Stock Award may occur as provided in the Plan in the event of a Corporate Transaction.

  • AND AFFILIATES Transferee GigAcquisitions2 Northland Shares Subject to Forfeiture Number of Founder Shares Consideration Amount Number of Founder Shares Consideration Amount EarlyBirdCapital, Inc.

  • The grant of an Award will not be construed as giving a Participant the right to be retained as a consultant of the Corporation or any Affiliate.(o)Dividends and Dividend-Equivalent Rights Subject to Forfeiture.

  • EXHIBIT B Escrow Shares Subject to Forfeiture Arisz Investment LLC – 225,000 shares EXHIBIT C Insider Letter Insider Letter Agreement by and among the Company, Chardan Capital Markets LLC and the Company’s officers, directors and stockholders, dated November 17, 2021.

Related to Subject to Forfeiture

  • Risk of Forfeiture means a limitation on the right of the Participant to retain Restricted Stock or Restricted Stock Units, including a right of the Company to reacquire shares of Restricted Stock at less than its then Market Value, arising because of the occurrence or non-occurrence of specified events or conditions.

  • Forfeiture means that portion of a Participant's Account that is not Vested, and occurs on the earlier of:

  • Forfeiture Period means the period from the Grant Date until the Forfeiture Date.

  • Vesting Conditions means those conditions established in accordance with Section 8.4 or Section 10.2 of the Plan prior to the satisfaction of which shares subject to a Restricted Stock Award or Restricted Stock Unit Award, respectively, remain subject to forfeiture or a repurchase option in favor of the Company upon the Participant’s termination of Service.

  • Deferred Stock means a right to receive a specified number of shares of Stock during specified time periods pursuant to Article 8.

  • Forfeiture Restrictions means any prohibitions and restrictions set forth herein with respect to the sale or other disposition of Shares issued to the Recipient hereunder and the obligation to forfeit and surrender such shares to the Company.

  • Forfeiture Event means the occurrence of at least one of the following (a) the Company is required, pursuant to a determination made by the Securities and Exchange Commission or by the Board, or an authorized subcommittee of the Board, to prepare a material accounting restatement due to the noncompliance of the Company with any financial reporting requirement under applicable securities laws as a result of misconduct, and the Board determines that (1) the Participant knowingly engaged in the misconduct, (2) the Participant was grossly negligent with respect to such misconduct or (3) the Participant knowingly or grossly negligently failed to prevent the misconduct or (b) the Board concludes that the Participant engaged in fraud, embezzlement or other similar misconduct materially detrimental to the Company.

  • Deferred Shares means an award made pursuant to Section 7 of this Plan of the right to receive Common Shares at the end of a specified Deferral Period.

  • Deferred Stock Award means Awards granted pursuant to Section 8.

  • Restricted Share Units means an Award which may be earned in whole or in part upon the passage of time or the attainment of performance criteria established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities as established by the Administrator.

  • Deferred Stock Account means a bookkeeping account maintained by the Company for a Participant representing the Participant's interest in the shares credited to such Deferred Stock Account pursuant to Paragraph 7 hereof.

  • Deferred Stock Units means the number of hypothetical Shares subject to an Election.

  • Vested Portion means, at any time, the portion of an Option which has become vested, as described in Section 3 of this Agreement.

  • Repurchase Right means the right granted to the Corporation in accordance with Article D.

  • Period of Restriction means the period during which the transfer of Shares of Restricted Stock are subject to restrictions and therefore, the Shares are subject to a substantial risk of forfeiture. Such restrictions may be based on the passage of time, the achievement of target levels of performance, or the occurrence of other events as determined by the Administrator.

  • Restricted Shares shall have the respective meanings set forth in Section 2.14.

  • Restriction Period means any period designated by the Committee during which (i) the Common Stock subject to a Restricted Stock Award may not be sold, transferred, assigned, pledged, hypothecated or otherwise encumbered or disposed of, except as provided in this Plan or the Agreement relating to such award, or (ii) the conditions to vesting applicable to a Restricted Stock Unit Award shall remain in effect.

  • Employer Stock means any class of common stock of Quest Diagnostics or the preferred stock of Quest Diagnostics that is convertible into common stock.

  • Vesting Schedule means the vesting schedule specified in the Grant Notice pursuant to which the Optionee is to vest in the Option Shares in a series of installments over his or her period of Service.

  • Capitalization Adjustment means any change that is made in, or other events that occur with respect to, the Common Stock subject to the Plan or subject to any Purchase Right after the date the Plan is adopted by the Board without the receipt of consideration by the Company through merger, consolidation, reorganization, recapitalization, reincorporation, stock dividend, dividend in property other than cash, large nonrecurring cash dividend, stock split, liquidating dividend, combination of shares, exchange of shares, change in corporate structure or other similar equity restructuring transaction, as that term is used in Financial Accounting Standards Board Accounting Standards Codification Topic 718 (or any successor thereto). Notwithstanding the foregoing, the conversion of any convertible securities of the Company will not be treated as a Capitalization Adjustment.

  • Non-transferability means the occurrence of any event that makes it impossible for the Issuer to deliver Renminbi between accounts inside Hong Kong or from an account inside Hong Kong to an account outside Hong Kong, other than where such impossibility is due solely to the failure of the Issuer to comply with any law, rule or regulation enacted by any Governmental Authority (unless such law, rule or regulation is enacted after the Issue Date and it is impossible for the Issuer, due to an event beyond its control, to comply with such law, rule or regulation).

  • Restricted Share Unit Award means a right to receive Ordinary Shares which is granted pursuant to the terms and conditions of Section 6(b).

  • Repurchase Period means a period of 90 consecutive days commencing on the date when the Optionee’s Service terminates for any reason, including (without limitation) death or disability.

  • Phantom Shares means an Award of the right to receive Shares issued at the end of a Restricted Period which is granted pursuant to Section 6(e) of the Plan.

  • Restricted Share Unit means the right granted to a Participant pursuant to Article 7 to receive a Share at a future date.

  • Company Stock means, collectively, the Company Common Stock and the Company Preferred Stock.