TTSA definition
Examples of TTSA in a sentence
TTSA shall contribute the proceeds of the Capital Contribution to TTSI to pay costs and expenses related to TTSI Employees.
TTSA and TTSI each represents and warrants to DeLonge that they each have the full power and authority to execute, deliver, and perform this Agreement; and the issuance of the Shares pursuant to this Agreement does not violate the terms of any agreement or other obligation by which TTSA or TTSI may be bound.
TTSA has agreed to accept the Capital Contribution in accordance with the terms and conditions of this Agreement.
DeLonge has such knowledge and experience in financial and business matters, including those specifically related to TTSA, that he is capable of evaluating the merits and risks of investment in TTSA and of making an informed investment decision.
Such payment, together with any additional cash paid by TTSA pursuant to Section 1(b) below, shall constitute the Cash Component.
Accordingly, the Parties have agreed, among other things, to terminate the Services Agreement and to agree to a capital contribution by DeLonge to TTSA in exchange for shares of Common Stock in TTSA to be formalized in the Capital Contribution Agreement (as hereinafter defined).
The checks or wire transfers shall be deposited into a non interest-bearing account at WILMINGTON TRUST, NATIONAL ASSOCIATION entitled “WILMINGTON TRUST, N.A. as Escrow Agent for TTSA Escrow” (the “Escrow Account”).
DeLonge understands that TTSA has no present intention of registering the Shares or any other equity securities.
Accordingly, the Parties agree that the DeLonge Payments shall be deemed to be a capital contribution to TTSA (the “Capital Contribution”), in exchange for which DeLonge shall receive shares of Common Stock in TTSA.
DeLonge also understands that an investment in TTSA involves significant risks and has carefully reviewed and understands all of the risks of, and other considerations relating to, a purchase of the Shares.