Token Generation Event Clause Samples

The Token Generation Event clause defines the specific occurrence when a new digital token is created and made available, typically as part of a blockchain or cryptocurrency project. This clause outlines the timing, process, and conditions under which tokens are issued to participants, such as investors or users, often specifying the total supply, distribution method, and any restrictions on transfer or use. Its core practical function is to provide clear guidelines and expectations for all parties involved, ensuring transparency and reducing the risk of disputes regarding the creation and initial allocation of tokens.
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Token Generation Event. If there is a Token Generation Event prior to the expiration or termination of the Agreement, the Company will vest Tokens with the Purchaser in the amount equal to the Purchase Amount as per the terms set out in the Agreement. Prior to vesting Tokens with the Purchaser by the Company, in accordance with Article 3(a) the Company: (i) shall verify information and data submitted by the Purchaser in order to verify it (KYC) to exclude the suspicion of money laundering or terrorism financing, (ii) may summon the Purchaser to draw up and supply the Company with documents or to provide information no later than within three business days since communicating summons to the Purchaser, such documents and information are required for the proper performance of the Agreement by the Company and ensuring compliance with legal provisions, in particular to verify the status of an accredited investor or non-US person status, (iii) may summon the Purchaser to indicate the Ethereum wallet address to which the Purchaser Tokens will be vested not later than within three business days since communicating summons to the Purchaser, subject to Article 3(aa) hereinafter, (iv) shall inform the Purchaser and the Purchaser shall agree to the following schedule of vesting (aa) Panel „Token Sale”
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Token Generation Event. If there is a Token Generation Event prior to the expiration or termination of the Agreement, the Company will vest Tokens with the Purchaser in the amount equal to the Purchase Amount as per the terms set out in the Agreement. Prior to vesting Tokens with the Purchaser by the Company, in accordance with Article 3(a) the Company: i. shall verify information and data submitted by the Purchaser in order to verify it (KYC) to exclude the suspicion of money laundering or terrorism financing, ii. may summon the Purchaser to draw up and supply the Company with documents or to provide information no later than within three business days since communicating summons to the Purchaser, such documents and information are required for the proper performance of the Agreement by the Company and ensuring compliance with legal provisions, in particular to verify the status of an accredited investor or non-US person status, iii. may summon the Purchaser to indicate the crypto wallet address to which the Purchaser Tokens will be vested not later than within three business days since communicating summons to the Purchaser, subject to Article 3b hereinafter, iv. shall inform the Purchaser and the Purchaser shall agree to the following schedule of vesting: • 10% of the Tokens shall be released immediately after a Token Generation Event, • After 6 months, weekly releases of 2% of remaining tokens.
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Token Generation Event. If there is a TGE prior to the Deadline Date (as defined in the table set out above), the Company shall, subject to the Lock-Up provisions of the table set out above and/or the Company obtaining any relevant approvals from any relevant Governmental Authorities, the Company will cause the Purchased Tokens to be deposited and held in its Multi-Sig Wallet. The Company will distribute the Purchased Tokens to the Purchaser as follows: (1) with respect to any Option 1 Purchased Tokens, on the date that is twelve (12) months after the date of the Token Generation Event; (2) with respect to any Option 2 Purchased Tokens, on the date that is six (6) months after the date of the Token Generation Event; (3) with respect to any Option 3 Purchased Tokens, on the date of the Token Generation Event. In connection with, as a condition to, and prior to the issuance or transfer of any Purchased Tokens by the Company to the Purchaser pursuant to this Clause 3(h) the Purchaser shall: i. execute and deliver to the Company any and all other documents related to this Agreement as are requested by the Company, including, without limitation, verification of its identity, source of funds, and residency under the applicable securities Laws and tax reporting and beneficial ownership status; and ii. if not already provided, provide to the Company a network address to which the Purchaser's Tokens shall be delivered following the TGE.
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Token Generation Event. If there is a Token Generation Event prior to the expiration or termination of the Agreement, the Company will vest Tokens with the Purchaser in the amount equal to the Purchase Amount as per the terms set out in the Agreement. Prior to vesting Tokens with the Purchaser by the Company, in accordance with Article 3(a) the Company: (i) shall verify information and data submitted by the Purchaser in order to verify it to exclude the suspicion of money laundering or terrorism financing, (ii) may summon the Purchaser to draw up and supply the Company with documents or to provide information no later than within three business days since communicating summons to the Purchaser, such documents and information are required for the proper performance of the Agreement by the Company and ensuring compliance with legal provisions, in particular to verify the status of an accredited investor or non-US person status, (iii) may summon the Purchaser to indicate the wallet address to which the Purchaser Tokens will be vested not later than within three business days since communicating summons to the Purchaser, subject to Article 3(aa) hereinafter, (iv) shall inform the Purchaser and the Purchaser shall agree to the following schedule of vesting • 10% of the Tokens shall be vested within seven days after a Token Generation Event, • 2% of the Tokens shall be vested every subsequent week until all Tokens are no longer due to the Purchaser in accordance with the Agreement, subject to the fulfilment of obligations arising from the Purchaser under Article 3(a) (i) - (iii). (aa) Panel „Token Sale” If the Purchaser does not have an EVM wallet (i.e. Ethereum, BNB Chain) or fails to indicate his address within the time limit specified in Article 3(a) (iii), the Company shall send to the Purchaser’s email address indicated in the Agreement (or updated in accordance with the requirements set out in the Agreement) an invitation to the “Token Sale” Panel where an individual account shall be created for the Purchaser (the “Account”). The Purchaser is obliged to immediately activate the Account. After activation of the Account, as part of a Token Generation Event, the Company shall vest Tokens with the Purchaser. Prior to the time limit specified in Article 3(a) (iii) the Purchaser may send to the Company a request for an individual account as part of the “Token Sale” Panel. When using the Account, the Purchaser is obliged to observe security requirements, specifically to keep confidentia...
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Token Generation Event. On the Initial Token Generation Date, before the expiration or termination of this Agreement, the Company will automatically issue to the Investor a number of units of the Token equal to the Investment divided by the Price; provided that, in connection with and prior to the issuance of Tokens by the Company to the Investor pursuant to this Section 1(a): (i) The Investor will execute and deliver to the Company any and all other transaction documents related to this Agreement, including but not limited to the Purchase Agreement attached hereto as Appendix A; and (ii) The Investor will provide to the Company a public Ethereum wallet address to which the Company may deliver Tokens during the anticipated Token Generation Event. For the avoidance of doubt, the public wallet address must be under the direct or indirect control of the Investor and shall not be under the direct or indirect control of a third-party.
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Token Generation Event. 3.1 Company will use its commercially reasonable efforts to cause the Token Generation Event to occur within one (1) month from the final closing date of the Offering. In the event that the Token Generation Event occurs, Company will automatically issue to Purchaser a number of Securities equal to the Purchase Amount. 3.2 If the Token Generation Event does not occur, Purchaser will not receive any refund or return of the Aggregate Purchase Price; however, in the event the Token Generation Event has not occurred on or before the date that is six (6) months from the final closing date of the Offering, Company will automatically issue to Purchaser a number of uncertificated shares of Company’s Class B Common Stock equal to the Purchase Amount as well as transaction documents relating to the Revenue Participation Right. 3.3 You are responsible for implementing reasonable measures for securing any wallet, vault or other storage mechanism that You use to receive and hold the Securities, including any requisite private key(s) or other credentials necessary to access such storage mechanism(s). If your private key(s) or other access credentials are lost, You may lose access to your Securities. Notwithstanding any other provision of this Agreement, Company shall not be responsible or liable for any damages, losses, costs, penalties, fines or expenses arising out of, or relating to, (i) your failure to implement reasonable measures to secure the wallet, vault or other storage mechanism You use to receive Securities or the relevant access credentials; or (ii) the loss of or unauthorized use of any of your access credentials. 3.4 Purchaser accepts, acknowledges and understands that the underlying
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Token Generation Event. The Token Generation Event is the creation and/or distribution of Tokens to Participants after they have purchased them. The Participant will be notified about the commencement of the Token Generation Event by checking the company website or by message sent from the Company. At times this event may be referred to as the Token Distribution Event.
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Token Generation Event. This section is a summary only and is not intended to provide all relevant information for you to consider when you decide to submit an Application or to participate in the Token Generation Event at all. This Disclosure Document should be read and considered in its entirety before you make any decision to apply to purchase Tokens. The Disclosure Document will be made available in electronic form during the Token Generation Event by being posted through the Company Website. Persons having received a copy of this Disclosure Document in its electronic form may obtain an additional paper copy of this Disclosure Document by contacting the Company at ▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇.▇▇ The Token Generation Event set out in this Disclosure Document in electronic form is only available to persons receiving an electronic version of this Disclosure Document and in a country where token sales are permitted. No person or entity named in this Disclosure Document, nor any other person or entity, guarantees the issue of the Tokens, the performance of the Tokens, the repayment of any purchase price or the receipt of income or capital gain in connection with the Tokens. Please read this document, in particular the risk factors in section 4, carefully before you make a decision to apply to purchase Tokens. A purchase of cryptocurrency tokens has general risks, and an application to purchase, and purchasing Tokens has specific risks, both of which you should consider before making a decision to apply to purchase Tokens.
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Related to Token Generation Event

  • Servicer Termination Event For purposes of this Agreement, each of the following shall constitute a “Servicer Termination Event”:

  • Dissolution Event If there is a Dissolution Event before the termination of this Safe, the Investor will automatically be entitled (subject to the liquidation priority set forth in Section 1(d) below) to receive a portion of Proceeds equal to the Cash-Out Amount, due and payable to the Investor immediately prior to the consummation of the Dissolution Event.

  • Consequences of a Servicer Termination Event If a Servicer Termination Event shall occur and be continuing, the Trust Collateral Agent may, or at the direction of the Majority Noteholders shall, by notice given in writing to the Servicer (and to the Trust Collateral Agent if given by the Noteholders) terminate all of the rights and obligations of the Servicer under this Agreement. On or after the receipt by the Servicer of such written notice or upon termination of the term of the Servicer, all authority, power, obligations and responsibilities of the Servicer under this Agreement, whether with respect to the Notes, the Certificate or the Other Conveyed Property or otherwise, shall pass to, be vested in and become obligations and responsibilities of the successor Servicer appointed by the Majority Noteholders; provided, however, that the successor Servicer shall have no liability with respect to any obligation which was required to be performed by the terminated Servicer prior to the date that the successor Servicer becomes the Servicer or any claim of a third party based on any alleged action or inaction of the terminated Servicer. The successor Servicer is authorized and empowered by this Agreement to execute and deliver, on behalf of the terminated Servicer, as attorney-in-fact or otherwise, any and all documents and other instruments and to do or accomplish all other acts or things necessary or appropriate to effect the purposes of such notice of termination, whether to complete the transfer and endorsement of the Receivables and the Other Conveyed Property and related documents to show the Trust as lienholder or secured party on the related Lien Certificates, or otherwise. The terminated Servicer agrees to cooperate with the successor Servicer in effecting the termination of the responsibilities and rights of the terminated Servicer under this Agreement, including, without limitation, the transfer to the successor Servicer for administration by it of all cash amounts that shall at the time be held by the terminated Servicer for deposit, or have been deposited by the terminated Servicer, in the Collection Account or thereafter received with respect to the Receivables and the delivery to the successor Servicer of all Receivable Files, Monthly Records and Collection Records and a computer tape in readable form as of the most recent Business Day containing all information necessary to enable the successor Servicer to service the Receivables and the Other Conveyed Property. The terminated Servicer shall grant the Trust Collateral Agent, the successor Servicer and the Majority Noteholders reasonable access to the terminated Servicer’s premises at the terminated Servicer’s expense.

  • Servicer Termination Events For purposes of this Agreement, the occurrence and continuance of any of the following shall constitute a “Servicer Termination Event”: (a) Any failure by the Servicer to deposit into any Account any proceeds or payment required to be so delivered or to direct the Indenture Trustee to make the required payment from any Account under the terms of this Agreement that continues unremedied for a period of five Business days after written notice is received by the Servicer or after discovery of such failure by a Responsible Officer of the Servicer; (b) Failure on the part of the Servicer duly to observe or perform, in any material respect, any covenants or agreements of the Servicer set forth in this Agreement, which failure (i) materially and adversely affects the rights of the Securityholders and (ii) continues unremedied for a period of 60 days after discovery of such failure by a Responsible Officer of the Servicer or after the date on which written notice of such failure requiring the same to be remedied shall have been given to the Servicer by any of the Owner Trustee, the Indenture Trustee or Noteholders evidencing not less than 50% of the Outstanding Amount of the Controlling Class of Notes; (c) If any representation or warranty of the Servicer, in its capacity as Servicer, made in this Agreement shall prove to be incorrect in any material respect as of the time when the same shall have been made and the incorrectness of such representation or warranty has a material adverse effect on the Issuer or the Noteholders and such failure continues unremedied for 90 days after discovery thereof by a Responsible Officer of the Servicer or receipt by the Servicer of written notice thereof from the Indenture Trustee or the Noteholders representing not less than 50% of the Outstanding Amounts of the Notes; or (d) The occurrence of an Insolvency Event with respect to the Servicer; provided, however, that a delay or failure of performance referred to under clause (a) above for a period of 10 days or clause (b) or (c) above for a period of 30 days will not constitute a Servicer Termination Event if such delay or failure was caused by force majeure or other similar occurrence.

  • Transfer to Avoid Termination Event If either an Illegality under Section 5(b)(i)(1) or a Tax Event occurs and there is only one Affected Party, or if a Tax Event Upon Merger occurs and the Burdened Party is the Affected Party, the Affected Party will, as a condition to its right to designate an Early Termination Date under Section 6(b)(iv), use all reasonable efforts (which will not require such party to incur a loss, excluding immaterial, incidental expenses) to transfer within 20 days after it gives notice under Section 6(b)(i) all its rights and obligations under this Agreement in respect of the Affected Transactions to another of its Offices or Affiliates so that such Termination Event ceases to exist. If the Affected Party is not able to make such a transfer it will give notice to the other party to that effect within such 20 day period, whereupon the other party may effect such a transfer within 30 days after the notice is given under Section 6(b)(i). Any such transfer by a party under this Section 6(b)(ii) will be subject to and conditional upon the prior written consent of the other party, which consent will not be withheld if such other party's policies in effect at such time would permit it to enter into transactions with the transferee on the terms proposed.