Example ContractsClausesCessation of Participation
Cessation of Participation
Cessation of Participation contract clause examples
Previous results

Participation. No Employee will have the right to be selected to receive an award under this Plan, or, having been so selected, to be selected to receive a future award.

Participation. If at any time holders of no less than 51% of the outstanding Shares of the Company (together, the "Selling Shareholders"), receive a bona fide offer from an independent third party to purchase in one transaction, or a series of related transactions, no less than 75% of the outstanding Shares of the Company (a "Drag-Along Sale"), the Selling Shareholder shall have the right to require that the Investor to participate in such sale.. If the Drag-Along Sale is structured as a merger, consolidation or similar business combination which requires shareholder approval, the Investor shall vote in favor of (or sign a written consent) the transaction and take all actions to waive any dissenters, appraisal or other similar rights.

Cessation of Service. If your service as a member of the Board of Directors of and its Subsidiaries terminates prior to the Vesting Date and Section 3(b) does not apply, the Restricted Stock Units shall be immediately and automatically forfeited.

Cessation of Operations. Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to pay its debts as such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as a “going concern” shall not be an admission that the Borrower cannot pay its debts as they become due.

Cessation of Trading. Any cessation of trading of the Common Stock on at least one of the OTCBB, OTCQB, OTC Markets Pink Sheets, or an equivalent replacement exchange, the Nasdaq National Market, the Nasdaq Small Cap Market, the New York Stock Exchange, or the NYSE MKT, and such cessation of trading shall continue for a period of five consecutive # Trading Days.

Cessation of Authority. Except as provided in any such agreement between the parties, Employee understands and agrees that as of the Separation Date, Employee is no longer authorized to incur any expenses, obligations or liabilities, or to make any commitments on behalf of the Company.

Cessation of Employment. In the event Executive shall cease to be employed by the Company for any reason, then Executive’s compensation and benefits shall cease on the date of such event, except as otherwise specifically provided herein or in any applicable employee benefit plan or program or as required by law.

ARTICLE # – ANNUAL CREDITS. 9

Participation Interests. The Value attributable to any Participation Interest shall be the Value determined with respect to the underlying portfolio investment related to such Participation Interest in accordance with this [Section 5.12], provided any participation interest that does not satisfy the definition of Participation Interest shall have a Value of zero (0) for purposes of this Agreement.

Subject to [Section 8(d)(vi)], if the Parent or the Company proposes to sell to any Person any Preemptive Securities in a financing transaction for cash (such securities, the “New Securities”), then the Parent or the Company, as applicable, shall first deliver to each Holder a written notice (an “Offer Notice”) setting forth: # the aggregate number of New Securities proposed to be sold, # the price per New Security and all other material terms and conditions, # the identity of each Person to whom securities are proposed to be sold (or, if unknown, how such Persons shall be identified), # all written financial information and other disclosures provided by the Parent, the Company or their representatives to any other proposed recipient of the New Securities and # an offer to sell to such Holder, on the same terms and conditions described in the Offer Notice, up to a fraction of such New Securities equal to such Holder’s Pro Rata Percentage.

Next results

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.