Cancellation of Certain Common Stock. Each share of Common ------------------------------------ Stock issued and outstanding immediately prior to the Effective Time that is owned by the Company or any Subsidiary of the Company or by Purchaser, Merger Sub or any other Subsidiary of Purchaser shall automatically be canceled and retired and shall cease to exist, and no cash or other consideration shall be delivered or deliverable in exchange therefor.
Appears in 3 contracts
Samples: Agreement and Plan of Merger (Telocity Delaware Inc), Merger Agreement (Telocity Delaware Inc), Merger Agreement (Hughes Electronics Corp)
Cancellation of Certain Common Stock. Each As of the Effective Time, by virtue of the Merger and without any action on the part of the holder of any Common Stock, the Company or Merger Sub, each share of Common ------------------------------------ Stock issued and outstanding immediately prior to the Effective Time that is owned by the Company or any Subsidiary of the Company wholly owned subsidiary as treasury stock or otherwise or owned by Purchaser, Merger Sub or any other Subsidiary of Purchaser shall automatically be canceled and retired and shall cease to exist, and no cash or other consideration shall be delivered or deliverable in exchange therefor.
Appears in 1 contract
