Common use of Cancellation of Class B Common Stock Clause in Contracts

Cancellation of Class B Common Stock. Any shares of Class B Common Stock surrendered in an Exchange shall automatically be deemed cancelled without any action on the part of any Person, including the Corporation. Any such cancelled shares of Class B Common Stock shall no longer be outstanding, and all rights with respect to such shares shall automatically cease and terminate.

Cancellation of Class B Common Stock. Any shares of Class B Common Stock surrendered in an a Redemption or Direct Exchange shall automatically be deemed cancelled without any action on the part of any Person, including the CorporationVivid Seats. Any such cancelled shares of Class B Common Stock shall no longer be outstanding, and all rights with respect to such shares shall automatically cease and terminate.

Cancellation of Class B Common Stock. Any shares of Class B Common Stock surrendered in an Exchange shall automatically be deemed cancelled without any action on the part of any Person, including the CorporationCorporation or Pubco. Any such cancelled shares of Class B Common Stock shall no longer be outstanding, and all rights with respect to such shares shall automatically cease and terminate.

Cancellation of Class B Common Stock. Any Immediately upon the Exchange of any Unit pursuant to Section 12.1(a), whether such Exchange is for a Cash Exchange Payment or Class A Common Stock, an equal number of outstanding shares of Class B Common Stock surrendered in an Exchange beneficially owned by the exchanging Member automatically shall automatically be deemed cancelled without any action on the part of any Person, including the CorporationX. Xxxxxxxxx’x. Any such cancelled shares of Class B Common Stock shall no longer be outstanding, and all rights with respect to such shares shall automatically cease and terminate.

Cancellation of Class B Common Stock. Any Immediately upon the Exchange of any Class B Unit pursuant to Section 2.1(a) or (b), an equal number of outstanding shares of Class B Common Stock surrendered in an Exchange beneficially owned by the exchanging Holding Unitholder automatically shall automatically be deemed cancelled without any action on the part of any Person, including the Corporation. Any such cancelled shares of Class B Common Stock shall no longer be outstanding, and all rights with respect to such shares shall automatically cease and terminate.

Cancellation of Class B Common Stock. Any As described in Section 12.1(a)(i), concurrently with any Exchange of any Unit, whether such Exchange is for a Cash Exchange Payment or Class A Common Stock, an equal number of outstanding shares of Class B Common Stock surrendered in an Exchange beneficially owned by the exchanging Member automatically shall automatically be deemed cancelled without any action on the part of any Person, including the Corporation. Public Co. Any such cancelled shares of Class B Common Stock shall no longer be outstanding, and all rights with respect to such shares shall automatically cease and terminate.

Cancellation of Class B Common Stock. Any shares of Class B Common Stock surrendered in an Exchange shall automatically be deemed cancelled without any action on the part of any Person, including the CorporationPubco. Any such cancelled shares of Class B Common Stock shall no longer be outstanding, and all rights with respect to such shares shall automatically cease and terminate.

Cancellation of Class B Common Stock. 1 For clarity, any Exchange of Class B Units shall be accompanied by and conditioned on the surrender to the Partnership of an equivalent number of shares of Class B Common Stock. Any shares of Class B Common Stock surrendered in an Exchange shall automatically be deemed cancelled without any action on the part of any Person, including the CorporationCompany. Any such cancelled shares of Class B Common Stock shall no longer be outstanding, and all rights with respect to such shares shall automatically cease and terminate, other than the right to receive from the Company the Exchange Consideration.

Cancellation of Class B Common Stock. Any shares of Class B Common Stock transferred, exchanged or otherwise surrendered in an a Redemption or Direct Exchange shall automatically be deemed cancelled and without any further action on the part of any Person, including the CorporationPubco, be deemed cancelled and retired. Any such cancelled and retired shares of Class B Common Stock shall no longer be outstanding, and all rights with respect to such shares shall automatically cease and terminate.

Cancellation of Class B Common Stock. For clarity, any Exchange of Class B Units shall be accompanied by and conditioned on the surrender to the Partnership of an equivalent number of shares of Class B Common Stock. Any shares of Class B Common Stock surrendered in an Exchange shall automatically be deemed cancelled without any action on the part of any Person, including the CorporationCompany. Any such cancelled shares of Class B Common Stock shall no longer be outstanding, and all rights with respect to such shares shall automatically cease and terminate, other than the right to receive from the Company the Exchange Consideration.

Cancellation of Class B Common Stock. Any shares Immediately prior to the Effective Time, but following the exchange of Units and Class B Common Stock pursuant to Section 2.5 below, each share of Class B Common Stock surrendered in an Exchange then outstanding shall be cancelled automatically and shall cease to exist, and no consideration shall be deemed cancelled without any action on the part of any Person, including the Corporation. Any paid for such cancelled shares of Class B Common Stock shall no longer be outstanding, and all rights with respect to such shares shall automatically cease and terminateStock.