Common use of If there is a permitted secondary offering Clause in Contracts

If there is a permitted secondary offering. (1) If the Issuer is an established issuer and you have sold in a permitted secondary offering 25% or more of your escrow securities, your escrow securities will be released as follows: 6 months after the listing date 1/3 of your remaining escrow securities 12 months after the listing date 1/2 of your remaining escrow securities 18 months after the listing date your remaining escrow securities *In the simplest case, where there are no changes to the remaining escrow securities upon completion of the permitted secondary offering and no additional escrow securities, the release schedule outlined above results in the remaining escrow securities being released in equal tranches of 33 1/3%. (2) If the Issuer is an established issuer and you have sold in a permitted secondary offering less than 25% of your escrow securities, your escrow securities will be released as follows: On the listing date 1/4 of your original number of escrow securities less the escrow securities sold by you in the permitted secondary offering 6 months after the listing date 1/3 of your remaining escrow securities 12 months after the listing date 1/2 of your remaining escrow securities 18 months after the listing date your remaining escrow securities *In the simplest case, where there are no changes to the remaining escrow securities upon completion of the permitted secondary offering and no additional escrow securities, the release schedule outlined above results in the remaining escrow securities being released in equal tranches of 33 1/3% after completion of the release on the listing date.

If there is a permitted secondary offering. (1) If the Issuer is an established issuer and you have sold in a permitted secondary offering 25% or more of your escrow securities, your escrow securities will be released as follows: For delivery to complete the IPO All escrow securities sold by you in the permitted secondary offering 6 months after the listing date 1/3 of your remaining escrow securities 12 months after the listing date 1/2 of your remaining escrow securities 18 months after the listing date your remaining escrow securities *In the simplest case, where there are no changes to the remaining escrow securities upon completion of the permitted secondary offering and no additional escrow securities, the release schedule outlined above results in the remaining escrow securities being released in equal tranches of 33 1/3%. (2) If the Issuer is an established issuer and you have sold in a permitted secondary offering less than 25% of your escrow securities, your escrow securities will be released as follows: For delivery to complete the IPO All escrow securities sold by you in the permitted secondary offering On the listing date 1/4 of your original number of escrow securities less the escrow securities sold by you in the permitted secondary offering 6 months after the listing date 1/3 of your remaining escrow securities 12 months after the listing date 1/2 of your remaining escrow securities 18 months after the listing date your remaining escrow securities *In the simplest case, where there are no changes to the remaining escrow securities upon completion of the permitted secondary offering initially deposited and no additional escrow securities, the release schedule outlined above results in the remaining escrow securities being released in equal tranches of 33 1/315% after completion of the release on the listing date.