Holdback Shares

Holdback Shares. Means the PAPI Hold-Back Shares and the PAMT/PAPT Hold-Back Shares, collectively, each as defined in Section 2.5.

Holdback Shares. Means the number of Series B Conversion Shares that the SEC determines would result in a violation of Rule 415 if included in an Additional Registration Statement.

Holdback Shares. As of any time, the number of Aggregate Holdback Shares that Parent is required to continue to reserve for issuance pursuant to, and in accordance with, Section 3.3, Section 3.4, Section 3.5 or Article 11 of the Merger Agreement. For the avoidance of doubt, "Holdback Shares" shall not include the Aggregate Holdback Shares that have been issued to the Stockholders pursuant to, and in accordance with, the terms of the Merger Agreement.