Common use of Cancellation of Certain Shares of Company Stock Clause in Contracts

Cancellation of Certain Shares of Company Stock. All shares of Company Common Stock issued and outstanding immediately prior to the Effective Time that are owned directly by HEOP and its Subsidiaries, and the Company and the Company Subsidiaries (other than (i) shares held in trust accounts, managed accounts and the like, or otherwise held in a fiduciary or agency capacity, that are beneficially owned by third parties and (ii) shares held, directly or indirectly, by HEOP or the Company in respect of a debt previously contracted) shall be cancelled and shall cease to exist and no Merger Consideration or other consideration shall be delivered in exchange therefor (such cancelled shares, the “Cancelled Shares”).

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Mission Community Bancorp), Voting and Support Agreement (Heritage Oaks Bancorp)

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Cancellation of Certain Shares of Company Stock. All shares of Company Common Stock Shares issued and outstanding immediately prior to the Effective Time that are owned directly by HEOP and its SubsidiariesParent, and the Buyer, Merger Sub or Company and the Company Subsidiaries (other than (i) shares held in trust accounts, managed accounts and the like, or otherwise held in a fiduciary or agency capacity, that are beneficially owned by third parties and (ii) shares held, directly or indirectly, by HEOP Parent, Buyer, Merger Sub or the Company in respect of a debt previously contracted) shall be cancelled and shall cease to exist and no Merger Consideration or other consideration shall be delivered in exchange therefor (such cancelled shares, the “Cancelled Shares”).

Appears in 1 contract

Samples: Agreement and Plan of Merger (Banc of California, Inc.)

Cancellation of Certain Shares of Company Stock. All shares of Company Common Stock and Company Series A Preferred Stock issued and outstanding immediately prior to the Effective Time that are owned directly by HEOP and its Subsidiaries, and the Parent or Company and the Company Subsidiaries (other than (i) shares held in trust accounts, managed accounts and the like, or otherwise held in a fiduciary or agency capacity, that are beneficially owned by third parties and (ii) shares held, directly or indirectly, by HEOP Parent or the Company in respect of a debt previously contracted) shall be cancelled and shall cease to exist and no Merger Consideration, Preferred Stock Merger Consideration or other consideration shall be delivered in exchange therefor (such cancelled shares, the “Cancelled Shares”).

Appears in 1 contract

Samples: Agreement and Plan of Merger (SCBT Financial Corp)

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Cancellation of Certain Shares of Company Stock. All shares of Company Common Stock, Company Series T Preferred Stock and Company Series W Preferred Stock issued and outstanding immediately prior to the Effective Time that are owned directly by HEOP and its Subsidiaries, and the Parent or Company and the Company Subsidiaries (other than (i) shares held in trust accounts, managed accounts and the like, or otherwise held in a fiduciary or agency capacity, that are beneficially owned by third parties and (ii) shares held, directly or indirectly, by HEOP Parent or the Company in respect of a debt previously contracted) shall be cancelled and shall cease to exist and no Merger Consideration or other consideration shall be delivered in exchange therefor (such cancelled shares, the “Cancelled Shares”).

Appears in 1 contract

Samples: Agreement and Plan of Merger (SCBT Financial Corp)

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