Common use of Cancelation of Treasury Shares; Treatment of Shares Held by Company Subsidiaries Clause in Contracts

Cancelation of Treasury Shares; Treatment of Shares Held by Company Subsidiaries. All Company Shares and Company Preferred Shares, in each case, that are owned by the Company as treasury shares shall be canceled and retired automatically and shall cease to exist and no consideration shall be delivered in exchange therefor. Each Company Share and Company Preferred Share, in each case, owned by any direct or indirect wholly owned Subsidiary of the Company shall not represent the right to receive the Merger Consideration (as defined below) and shall be converted into a proportionate number of Surviving Company Shares.

Cancelation of Treasury Shares; Treatment of Shares Held by Company Subsidiaries. All Company Shares and Company Preferred Shares, in each case, that are owned by the Company as treasury shares shall shall, by virtue of the Merger and without any action on the part of the holder thereof, be canceled and retired automatically and shall cease to exist and no consideration shall be delivered in exchange therefor. Each Company Share and Company Preferred Share, in each caseif any, owned by any direct or indirect wholly owned Subsidiary of the Company shall not represent the right to receive the Merger Consideration (as defined below) and shall be converted instead convert into a proportionate number of one (1) Surviving Company SharesShare.

Cancelation of Treasury Shares; Treatment of Shares Held by Company Subsidiaries. All Company Shares and Company Preferred Shares, in each case, that are owned by the Company as treasury shares shall shall, by virtue of the Merger and without any action on the part of the holder thereof, be canceled and retired automatically and shall cease to exist and no consideration shall be delivered in exchange therefor. Each Company Share and Company Preferred Share, in each caseif any, owned by any direct or indirect wholly owned Subsidiary of the Company shall not be automatically canceled and converted into and shall thereafter represent the right to receive the Merger Consideration (as defined below) and shall be converted into a proportionate number of Surviving Company SharesConsideration.”