Reverse Split Effective Date definition
Examples of Reverse Split Effective Date in a sentence
If, at any time prior to the Reverse Split Effective Date, any event or circumstance relating to the Principal Shareholder should be discovered by the Principal Shareholder which should be set forth in an amendment to any document required to be filed by the Company with the SEC in connection with the transactions contemplated by this Agreement, the Reverse Stock Split and the Forward Stock Split, the Principal Shareholder shall promptly inform the Company.
Following the Reverse Split Effective Date, the Principal Shareholder shall use its best efforts to cause the Company to, assume, honor and comply with all agreements and contracts between the Company and its directors, officers, employees, fiduciaries or agents requiring the Company to provide indemnification, insurance or expense advancement.
As soon as practicable following the Reverse Split Effective Date, the Principal Shareholder and the Company will use their commercially reasonable efforts to complete the deregistration of the Common Stock under the Securities Exchange Act of 1934 and the delisting of the Common Stock from the Nasdaq Global Market.
Any consent, waiver, amendment or other determination to be made, or action to be taken, by the Company under or with respect to this Agreement prior to the Reverse Split Effective Date (including with respect to any termination of this Agreement pursuant to Section 27) shall be made or taken only at the direction and upon the approval of the Special Committee.
At least two business days before the Reverse Split Effective Date, the Principal Shareholder shall deposit, or cause to be deposited, into an escrow account with the Paying Agent (the “Escrow Account”), for the benefit of the holders of the Fractional Shares, cash in an amount at least equal to the Initial Funding Amount.
At least two business days before the Reverse Split Effective Date, the Principal Shareholder shall deposit, or cause to be deposited, into an escrow account with the Paying Agent (the “Escrow Account”), for the benefit of the holders of the Fractional Shares, cash in an amount at least equal to the Total Funding Amount.
Such temporary certificates shall be distributed to the Stockholders and shall be non-voting and non-transferable, and represent only a right to receive a security at a future date, and way be exchanged only by the Stockholder designated on the face thereon, for Permanent SSI Exchange Shares sometime on or after the Reverse Split Effective Date.
Such shares shall be held by the President until Permanent Certificates of SSI have been delivered on or about the Reverse Split Effective Date.
Notwithstanding the foregoing, if no less than five days before the Reverse Split Effective Date the Principal Shareholder has deposited $3,503,133.00 in the Escrow Account and this Agreement has not been terminated, the Company will issue 680,220 of the Funding Consideration Shares to the Principal Shareholder (the “Preliminary Shares”) at 10:00 a.m. Eastern Time on the business day immediately prior to the Reverse Split Effective Date.
Any consent, waiver, amendment or other determination to be made, or action to be taken, by the Company under or with respect to this Agreement prior to the Reverse Split Effective Date (including with respect to any termination of this Agreement pursuant to Section 26) shall be made or taken only at the direction and upon the approval of the Special Committee.