Subsequent Units definition
Examples of Subsequent Units in a sentence
As to each Subsequent Closing, each Subsequent Closing Purchaser shall have delivered to the Company the total purchase price to be paid for such Subsequent Closing Purchaser’s Subsequent Units.
Subsequent Units shall become available at the rate of one Unit every three consecutive months of employment until 12 months have been completed.
Upon the closing of the purchase of Subsequent Units the Subsequent Units will automatically convert into equity in the Company Subsidiaries in accordance with the provisions of Section 5.1(b).
Any Subsequent Units shall be evidenced by an agreement in form and substance as reasonably determined by the Company’s Board of Directors.
Except as provided in Section 6, each group of Subsequent Units granted on a Subsequent Grant Date shall become vested and nonforfeitable (i) in installments over three years following the grant thereof in proportions substantially similar to those contained in Section 2(a) hereof and (ii) contingent on the Company’s satisfaction of the performance hurdles as determined by the Company’s Board of Directors at the time of grant thereof.
All Subsequent Units or shares of any class or other securities, which a Registered Warrantholder is at the time in question entitled to receive on the exercise of its Warrant, whether or not as a result of adjustments made pursuant to this Article 4, shall, for the purposes of the interpretation of this Indenture, be deemed to be Subsequent Units which such Registered Warrantholder is entitled to acquire pursuant to such Warrant.
On or before each Payment Date related to the Revolving Period, the Servicer will instruct the Indenture Trustee to re-deposit any portion of the funds on deposit in the Accumulation Account not used to cause Subsequent Units to be allocated to the 20[ ]-[ ] Reference Pool into the Accumulation Account to be applied on subsequent Payment Dates to cause Subsequent Units to be allocated to the 20[ ]-[ ] Reference Pool.
It is understood that the Borrower is in negotiations with the Subsequent Unit Holders and certain of the Series G Warrant Holders regarding a modification or termination of the Subsequent Units and some or all of the Series G Warrants and that the consideration required to modify and/or extinguish those rights may be substantial.
Upon request by the Corporation, the Warrant Agent shall furnish to the Corporation a cancellation certificate identifying the Warrant Certificates so cancelled, the number of Warrants evidenced thereby, the number of Subsequent Units, if any, issued pursuant to such Warrants and the details of any Warrant Certificates issued in substitution or exchange for such Warrant Certificates cancelled.
On the Second Closing Date, conditioned on the completion of the Financing, (i) the Purchaser shall deliver to the Seller $250,000 in cash or other immediately available U.S. funds and (ii) the Seller shall deliver to the Purchaser certificates representing the Subsequent Units.