Unrestricted Common Stock

Example Definitions of "Unrestricted Common Stock"
Unrestricted Common Stock. Means Common Stock that is (a) not subject to any lock-up agreement, (b) either registered for resale or saleable when issued pursuant to an exemption (a 'Securities Act Exemption') from the registration requirements of the Securities Act of 1933, as amended (the 'Securities Act'), and (iii) listed on the Issuer's principal trading market. Without in any way limiting the foregoing, for purposes of clause (b) above, Common Stock shall not be deemed to be saleable when issued if it is subject to... any resale volume restrictions under Rule 144 of the Securities Act that make impractical the immediate sale of the Common Stock being issued at that time. View More
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