Cancellation of Company Common Shares. (i) Each Company Common Share owned by the Company as a treasury share and each Company Common Share owned directly by any direct or indirect wholly owned Subsidiary of the Company, in each case as of immediately prior to the Effective Time (each an “Excluded Share”), will be cancelled, be no longer outstanding, and will automatically cease to exist, and no consideration will be delivered in exchange therefor.
Appears in 2 contracts
Samples: Agreement and Plan of Merger (Myovant Sciences Ltd.), Agreement and Plan of Merger (Myovant Sciences Ltd.)
Cancellation of Company Common Shares. (i) Each Company Common Share owned by the Company as a treasury share or any wholly-owned Company Subsidiary and each Company Common Share owned directly by any direct or indirect wholly owned Subsidiary of the CompanyPark Parties or any of their respective wholly-owned Subsidiaries, in each case case, as of immediately prior to the Effective Time (each an the “Excluded ShareShares”), will shall be cancelled, be no longer outstanding, cancelled and will automatically shall cease to exist, and no consideration will shall be delivered in exchange therefor.
Appears in 2 contracts
Samples: Agreement and Plan of Merger (Park Hotels & Resorts Inc.), Agreement and Plan of Merger (Chesapeake Lodging Trust)
