Vesting of Certain Rights Sample Clauses

The "Vesting of Certain Rights" clause defines when and how specific rights or benefits become fully owned or exercisable by a party, typically over a predetermined period or upon meeting certain conditions. For example, in employment or intellectual property agreements, this clause might specify that stock options, ownership interests, or usage rights are granted incrementally over time or upon achieving milestones. Its core practical function is to incentivize continued participation or performance while protecting the granting party from immediate or unearned transfers of valuable rights.
Vesting of Certain Rights. Subject to Section 1.6, Invacare shall cause the Executive’s rights under the Invacare Deferred Compensation Plus Plan to become, as of the Termination Date, immediately vested in full.
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Vesting of Certain Rights. Invacare shall cause the Executive’s rights under (a) the Invacare 401(k) Plus Plan, (b the Invacare Deferred Compensation Plus Plan and (c) the Invacare Cash Balance Supplemental Executive Retirement Plan, to become, as of the Termination Date, immediately vested in full.
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Vesting of Certain Rights. Consultant hereby agrees to assign, and upon creation of each Deliverable automatically assigns, to the Company, its successors and assigns, ownership of all United States and international copyrights in each and every Deliverable, insofar as any such Deliverable, by operation of law, may not be considered work made for hire by the Consultant.
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Vesting of Certain Rights. Invacare or its Affiliates shall cause the Executive’s rights under the Invacare Deferred Compensation Plus Plan (or related successor plan or plans) to become, as of the Termination Date, immediately vested in full.
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Vesting of Certain Rights. Certain rights of the holders of Management Stock shall vest over time in accordance with a schedule and subject to such conditions as shall be mutually agreed among the parties to the Stock Purchase Agreement prior to the Closing. Voting Rights All shares of Investor Stock and Management Stock shall have one vote per share. The classes of Investor Stock shall have the special voting and other rights and preferences set forth in the Amended and Restated Certificate of Incorporation. Otherwise the Investor Stock and the Management Stock shall have the same voting rights and shall vote together as a single class. Dividends The Investor Stock and the Management Stock shall receive dividends in a ratio approximately equal to the ratio between the Investor Stock Purchase Price and the Management Stock Purchase Price. Liquidation Upon liquidation, the net assets of the Company shall be distributed pro rata to the Company’s stockholders such that each holder of Investor Stock and of Management Stock shall receive: First, the lesser of (i) the amount of the Investor Stock Purchase Price or Management Stock Purchase Price paid in respect of such Investor Stock or Management Stock or (ii) net assets of the Company in a ratio approximately equal to the ratio between the Investor Stock Purchase Price and the Management Stock Purchase Price; Second, each holder of Investor Stock shall receive net assets proportionate to its pro rata share of the difference between the Investor Stock Purchase Price and the Management Stock Purchase Price; and Third, each stockholder of the Company shall receive its pro rata portion of the remaining net assets of the Company. Non-Transferability The Management Stock may not be transferred, pledged or otherwise disposed of except for (i) transfers upon death to an heir, (ii) transfers back to the Company and (iii) such additional permissible transfers as may be mutually agreed among the parties to the Stock Purchase Agreement prior to the Closing. In addition, shares of Class A Common Stock into which Management Stock shall be converted may be subject to transfer restrictions to be mutually agreed among the parties to the Stock Purchase Agreement prior to the
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Related to Vesting of Certain Rights

  • Termination of Certain Rights Any termination of this Lease pursuant to this Article 13 shall cause any right of the Lessee to extend the Term of this Lease, granted to the Lessee herein and any right of the Lessee to purchase the Leased Property contained in this Lease to be terminated and to be without further force or effect.

  • Waiver of Certain Rights Each Member irrevocably waives any right it may have to maintain any action for dissolution of the Company or for partition of the property of the Company.

  • Exclusion of Certain Warrants The Company agrees that the redemption rights provided in Section 6.1 shall not apply to the Private Placement Warrants, the Working Capital Warrants or the Post-IPO Warrants (if such Post-IPO Warrants provide that they are non-redeemable by the Company) if at the time of the redemption such Private Placement Warrants, Working Capital Warrants or Post-IPO Warrants continue to be held by the Sponsor or any Permitted Transferees, as applicable. However, once such Private Placement Warrants, Working Capital Warrants or Post-IPO Warrants are transferred (other than to Permitted Transferees under Section 2.6), the Company may redeem the Private Placement Warrants, the Working Capital Warrants or the Post-IPO Warrants (if the Post-IPO Warrants permit such redemption by their terms) pursuant to Section 6.1 hereof, provided that the criteria for redemption are met, including the opportunity of the holder of such Private Placement Warrants, Working Capital Warrants or Post-IPO Warrants to exercise the Private Placement Warrants, the Working Capital Warrants or the Post-IPO Warrants prior to redemption pursuant to Section 6.1. The Private Placement Warrants, the Working Capital Warrants or the Post-IPO Warrants (if such Post-IPO Warrants provide that they are non-redeemable by the Company) that are transferred to persons other than Permitted Transferees shall upon such transfer cease to be Private Placement Warrants, Working Capital Warrants or Post-IPO Warrants and shall become Public Warrants under this Agreement.

  • Cancellation of Certain Shares Each share of Company Common Stock held by Parent, Merger Sub, any wholly-owned subsidiary of Parent or Merger Sub, in the treasury of the Company or by any wholly-owned subsidiary of the Company immediately prior to the Effective Time shall be canceled and extinguished without any conversion thereof and no payment shall be made with respect thereto.

  • Enforcement of Certain Rights Nothing expressed or implied in this Agreement is intended, or will be construed, to confer upon or give any Person other than the Parties, and their successors or permitted assigns, any rights, remedies, obligations or liabilities under or by reason of this Agreement, or result in such Person being deemed a third party beneficiary of this Agreement.