Common use of Founders’ Units Clause in Contracts

Founders’ Units. On or before the Effective Date, each of the Private Investors shall deliver to the Escrow Agent certificates representing such Private Investor’s respective Founders’ Units as set forth opposite their respective names on Exhibit A hereto, which certificates shall remain in the name of such Private Investor, to be held and disbursed subject to the terms and conditions of this Agreement. Each Private Investor acknowledges that the certificate representing such Private Investor’s Founders’ Units bears a legend to reflect the deposit of such Founders’ Units under this Agreement.