Initial Stock Payment. Upon execution of this Agreement and the Assignment required by Paragraph 1.01 above [original agreement], Developer shall receive twenty thousand shares of restricted stock in Company.
Initial Stock Payment. Within 30 days after the Closing, the Buyer shall issue and deliver to the Seller a certificate, registered in the name of the Seller, representing a number of shares of Buyer Stock equal to the Initial Stock Payment.
Initial Stock Payment. An initial stock payment of US $3,500,000 worth of Applied Digital, Inc. (“ADSX”) Class A common stock, $0.01 par value, shall be delivered at Closing by the Buyer to the Shareholders (“Initial Stock Payment”). The Shareholders acknowledge, understand and agree that the Initial Stock Payment shall be applied towards the repayment of any Bonds not converted into shares of the Company’s common stock (“1st Repayment”) and towards the repayment of that certain loan with Mezzanin Kapital A/S dated August 15, 2000 (the “Mezzanin Loan”), including any expenses and fees associated with the repayment of the Mezzanin Loan, as negotiated by the Management Shareholders with Mezzanin Kapital A/S, whereby no further obligations under the Mezzanin Loan exist and the Mezzanin Loan is cancelled (“2nd Repayment”) to the extent any such amounts are not paid with the proceeds of the Loan referred to in paragraph 7.6. To the extent any stock remains available after payment of such items, the Initial Stock Payment shall be distributed among the Shareholders, pro rata based on the number of Shares owned. The Shareholders further acknowledge, understand and agree that the 1st Repayment and 2nd Repayment shall be handled by the Company and that the distribution of the remaining Initial Stock Payment between the Shareholders shall be handled by the Management Shareholders. The Management Shareholders understand and agree that to the extent required pay the 1st Repayment and 2nd Repayment, they shall distribute the necessary amounts from the Initial Stock Payment to the Company so that the Company may make such repayments. The Shareholders further acknowledge, understand and agree that any disputes arising from the distribution of the Initial Stock Payment shall be handled by and between the Shareholders, and that Buyer shall have no liability in any dispute or claim related to such repayments, allocations and distributions. The Shareholders acknowledge and agree that the ADSX shares to be delivered pursuant hereto (the “ADSX Shares”) will be unregistered shares and shall be valued based on the 10-day “VWAP” (Volume Weighted Average Price) of ADSX Class A common stock for the ten (10) trading days on the NASDAQ Stock Market prior to Closing. The Shareholders further acknowledge and agree that the ADSX shares will be valued at the fixed conversion rate of 5.75 Danish Krones per US $1.00 for purposes of determining the Purchase Price under paragraph 1.3.1.
Initial Stock Payment. Delivery of Initial Stock Payment to the Shareholders as required in paragraph 1.4.1.
Initial Stock Payment. Within 30 days after the Closing Date, Zanett shall issue and deliver to each of the Sellers a certificate, registered in the name of such Seller, representing a number of shares of Zanett Stock equal to fifty percent (50%) of the Initial Stock Payment.
Initial Stock Payment. With respect to the Initial Stock Payment, the Conversion Price equal the Closing Five Day Average Stock Price prior to the Closing, provided, however, that such price, if less than $0.206 shall be adjusted to equal $0.206; and provided, further, however that, at the time of the Closing, Buyer shall issue to Seller the number of shares of Buyer's Common Stock (the "Initial Stock Payment") (rounded to the nearest whole share) determined by dividing One Million Dollars ($1,000,000) by the Conversion Price.
Initial Stock Payment. Subject to the holdback of the Indemnity Escrow Shares provided for in Section 2.6(f) below, at the Closing, Parent shall issue, as allocated herein, to the PSR Holdings Shareholders and the PSR Recruiting Shareholder, an aggregate of 3,418,795 shares of Parent Common Stock. The shares of Parent Common Stock issuable to the PSR Holdings Shareholders and the PSR Recruiting Shareholder pursuant to this Section 2.6(c)(i)(A) shall be referred to as the "Initial Stock Payment."
Initial Stock Payment. Within 30 days after the Closing Date, InfoLogix shall issue and deliver to each Shareholder a stock certificate representing a number of unregistered shares of InfoLogix Stock equal to such Shareholder’s Pro Rata Percentage of the Initial Stock Payment.
Initial Stock Payment. Sellers agree and acknowledge that the Initial Stock Payment will be acquired for investment purposes only and not with a view to the resale or distribution of any part thereof, and that Sellers will not offer, sell or otherwise dispose of shares of Purchaser Preferred Stock or any shares of Purchaser Common Stock issuable upon conversion of shares of Purchaser Preferred Stock that may be issued to them pursuant to this Agreement other than in compliance with all applicable laws, including, if applicable, Rule 144 promulgated under the Securities Act. Sellers also agree and acknowledge that the Purchaser Preferred Stock that may be issued pursuant to this Agreement are “restricted securities” under the Securities Act. Sellers further agree and acknowledge that any shares of Purchaser Preferred Stock issued to Sellers pursuant to this Agreement will be stamped or imprinted with a legend in substantially the following form: EXECUTION VERSION “THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT AND UNDER APPLICABLE STATE SECURITIES LAWS OR UNLESS BRIDGELINE DIGITAL, INC. SHALL HAVE RECEIVED AN OPINION OF COUNSEL THAT THE REGISTRATION OF SUCH SECURITIES UNDER THE SECURITIES ACT AND UNDER THE PROVISIONS OF APPLICABLE STATE SECURITIES LAWS IS NOT REQUIRED.”
Initial Stock Payment. Upon the consummation of the Acquisition, the Sellers will be the sole record and beneficial holder of all shares represented by the Initial Stock Payment.
