Donation to Capital Sample Clauses

Donation to Capital. Immediately prior to the Effective Time, each Individual hereby severally and voluntarily agrees to donate back to the capital of the Company all shares of Company Stock owned by, and all Company Rights (collectively, the Company Stock and Company Rights are hereinafter referred to as the “Company Securities”) held by or on behalf of, each Individual as reflected on the attached Appendix 1. Such donation to capital shall be irrevocable and shall be effective immediately prior to the Effective Time of the Merger without further action by the parties hereto, such that the Parent Merger Stock to be issued in conjunction with the Merger shall not be issuable by Parent to any of the Individuals, as such persons will at the Effective Time no longer be Company Shareholders or Company Rights holders. On and after the Effective Time, the Individuals acknowledge and agree that they shall no longer have any ownership rights in the Company Securities that are the subject of this Agreement.
Sample 1
AutoNDA by SimpleDocs
Donation to Capital a. Xxxxx xxxees that on the execution of this Agreement he shall convey, transfer and assign to the Company 800,000 shares of the Company's common stock, determined on a pre-split basis as if such donation to capital had occurred on March 26, 2001. Such conveyance shall be a donation to the capital of the Company at no cost to the Company and shall be made by Oblas in partial consideration of the Company making payments pursuant to the Severance Package and entering into this Agreement.
Sample 1

Related to Donation to Capital

  • Additional Capital The Member shall not be obligated to make any Capital Contributions other than the initial Capital Contributions specified in Section 3.2.

  • Designation and Amount The shares of such series shall be designated as "Series A Junior Participating Preferred Stock" (the "Series A Preferred Stock") and the number of shares constituting the Series A Preferred Stock shall be 1,000,000. Such number of shares may be increased or decreased by resolution of the Board of Directors; provided, that no decrease shall reduce the number of shares of Series A Preferred Stock to a number less than the number of shares then outstanding plus the number of shares reserved for issuance upon the exercise of outstanding options, rights or warrants or upon the conversion of any outstanding securities issued by the Corporation convertible into Series A Preferred Stock.

  • Payment of Special Counsel Fees Without limiting the provisions of Section 15.1, the Company shall have paid on or before the Closing the fees, charges and disbursements of the Purchasers’ special counsel referred to in Section 4.4 to the extent reflected in a statement of such counsel rendered to the Company at least one Business Day prior to the Closing.

  • Limited Liability Company Agreement The Member hereby states that except as otherwise provided by the Act or the Certificate of Formation, the Company shall be operated subject to the terms and conditions of this Agreement.

  • Partnership Capital A. No Partner shall be paid interest on any Capital Contribution to the Partnership or on such Partner's Capital Account, notwithstanding any disproportion therein as between Partners.

  • Limitation on Amount The Employee's salary reduction contributions: (Choose (i) or at least one of (ii) or (iii))

  • Designation, Amount and Par Value The series of preferred stock shall be designated as the Series D 5% Convertible Preferred Stock (the "Preferred Stock"), and the number of shares so designated and authorized shall be Three Thousand (3,000). Each share of Preferred Stock shall have a par value of $0.0001 per share and a stated value of $1,000 per share (the "Stated Value").

  • What To Do If You Find A Mistake On Your Statement If you think there is an error on your statement, write to us at the address(es) listed on your statement. In your letter, give us the following information:

  • Judicial Council 's Obligation Subject to Availability of Funds A. The Judicial Council's obligation under this Agreement is subject to the availability of authorized funds. The Judicial Council may terminate the Agreement or any part of the Contract Work, without prejudice to any right or remedy of the Judicial Council, for lack of appropriation of funds. If expected or actual funding is withdrawn, reduced, or limited in any way prior to the expiration date set forth in this Agreement, or in any Amendment hereto, the Judicial Council may, upon written Notice to the Contractor, terminate this Agreement in whole or in part. Such termination shall be in addition to the Judicial Council's rights to terminate for cause or other than for cause, as set forth herein.

  • Net Capital You represent that you, and we represent that we, are in compliance with the capital requirements of Rule 15c-3-1 promulgated by the Commission under the Securities and Exchange Act of 1934, and we may, in accordance with and pursuant to such Rule 15c-3-1, agree to purchase the amount of Units to be purchased by you and us, respectively, under the Agreement.

Time is Money Join Law Insider Premium to draft better contracts faster.