Equity Payments. The Borrowers shall not make an Equity Payment if there is then continuing any Default or Event of Default (or a Default or Event of Default would result therefrom or exist after giving effect thereto).
Equity Payments. As partial consideration for the License and other acts of Licensor required hereunder, Licensee shall issue to Licensor Milestone Payments through the issue of its unregistered securities as set forth below in Section 3.2.
Equity Payments. All dividends, interest, distributions or other amounts and all property received in respect of the equity interest of Borrower in Subsidiary shall be forthwith delivered to Lender for application to the Obligations.
Equity Payments. In addition to the Base Salary, it is intended that the Executive shall receive options to purchase two hundred and fifty thousand (250,000) shares of the common stock of UFood Restaurant Group, Inc. (the “Options”). The Options shall terminate ten (10) years from the date hereof, be exercisable at $1.00 per share, and vest and be exercisable as follows: (a) one hundred and twenty five thousand (125,000) Options shall vest upon the closing of the merger between the Company and a wholly-owned subsidiary of UFood Franchise Restaurant Group, Inc. (the “Merger Date”); (b) one hundred twenty-five thousand (125,000) Options shall vest un equal amounts on the first day of each month for thirty-six months. Notwithstanding the termination of this Agreement for any cause, the Executive shall receive the Options pursuant to the terms set forth herein. The Options shall be granted pursuant to the 2007 Equity Incentive Plan of UFood Restaurant Group, Inc., and the Company shall use its best efforts to cause UFood Restaurant Group, Inc. to issue these Options as of the Merger Date.
Equity Payments. EQUITY PAYMENTS" shall mean payments to an EMPLOYEE --------------- of EQUITY in accordance with Section 2.3 of this SUPPLEMENT, and payments made on behalf of EMPLOYEE to remove liens and/or encumbrances on the HOME.
Equity Payments. EQUITY PAYMENTS shall be advanced to RELOACTION --------------- by COMPANY prior to payment to EMPLOYEE.
Equity Payments. Such Borrower shall not, and shall cause its Restricted Subsidiaries not to, or FMPO shall not, as applicable, make an Equity Payment; provided, however, that such Borrower or Restricted Entity may make an Equity Payment to any other Borrower or Restricted Entity.
Equity Payments. The Borrowers shall not, and shall cause the other Loan Parties not to, make any Equity Payment except (a) KSAC may make Equity Payments not to exceed $250,000 in any calendar year for the following purposes: (i) the purchase of fractional shares of its equity interests arising out of the conversion of convertible securities or the exercise of options or warrants, and (ii) the repurchase of equity interests from former employees, consultants or directors in connection with or pursuant to any of its option plans (or other employee incentive plans or compensation arrangements) other than for payments to Xxxx Xxxxxx, (b) KSAC may make aggregate Equity Payments to owners of KSAC in amounts not greater than the lesser of: (i) the amount of tax that would be payable by KSAC and its U.S. Subsidiaries on a consolidated basis had the election in Section 7.9(a) not been made or (ii) the taxes on KSAC’s and its U.S. Subsidiaries’ income allocable to such owners if KSAC has made the election referred to in Section 7.9(a), and (c) KSAC’s Subsidiaries, provided they are wholly-owned, directly or indirectly, by KSAC, may make Equity Payments.
Equity Payments. The Borrower will not, and will not permit any of its Subsidiaries to declare or make, or agree to pay or make, directly or indirectly, any Equity Payment, except the Borrower and its Subsidiaries may make Equity Payments (i) in the form of dividends or other distributions made to the Borrower’s or its Subsidiary’s equity holders, which in the case of such Equity Payments by the Borrower shall be made ratably to the Borrower’s equity holders and shall be consistent with past practice and in the case of such Equity Payments by a Subsidiary shall be made ratably (or on a greater than ratable basis to the Borrower or any Subsidiary) to such Subsidiary’s equity holders, (ii) in accordance with stock option plans or employee benefit plans for management or employees of the Company and its Subsidiaries, (iii) the Borrower and each Subsidiary may declare and make dividend payments or other distributions payable solely in the common stock or other common Equity Interests of such Person and (iv) so long as no Event of Default shall have occurred and be continuing or would result therefrom, additional Equity Payments in an aggregate amount not to exceed US$2,000,000,000 during the term of this Agreement.
Equity Payments. In addition to the Base Salary, it is intended that the Executive shall receive options to purchase two hundred thousand (200,000) shares of the common stock of UFood Restaurant Group, Inc. (the “Options”). The Options shall terminate ten (10) years from the date hereof, be exercisable at $1.00 per share, and shall vest in equal amounts on the first day of each month for twenty-four months following the date hereof. Notwithstanding the termination of this Agreement for any cause, the Executive shall receive the Options pursuant to the terms set forth herein. The Options shall be granted pursuant to the 2007 Equity Incentive Plan of UFood Restaurant Group, Inc. (the “Plan”), and the Company shall use its best efforts to cause UFood Restaurant Group, Inc. to issue these Options as of the Merger Date. The Executive shall be able to exercise his Options on a “cashless exercise” basis as provided in the Plan. Other than the proposed merger transaction between the Company and a wholly-owned subsidiary of UFood Franchise Restaurant Group, Inc., a change in ownership or control of the Company during the Employment Period shall result in the immediate acceleration of the Options.
