Cancellation of Company Common Stock. Each share of Company Common Stock held by the Company as treasury stock or held by any subsidiary of the Company, Parent or Acquisition Sub (including as a result of the exercise of the Top-Up Option by Acquisition Sub, if applicable) immediately prior to the Effective Time shall automatically be canceled and shall cease to exist, and no consideration or payment shall be delivered in exchange therefor or in respect thereof.
Appears in 2 contracts
Samples: Merger Agreement (Peerless Systems Corp), Merger Agreement (Kaydon Corp)
Cancellation of Company Common Stock. Each share All shares of Company Common Stock held that are owned directly or indirectly by Company or Upgrade or by any of the Company Subsidiaries (as treasury stock defined below) or held by any subsidiary of the Company, Parent or Acquisition Sub (including as a result of the exercise of the Top-Up Option by Acquisition Sub, if applicable) Upgrade immediately prior to the Effective Time Merger shall automatically be canceled and shall cease to exist, and no stock of Upgrade or other consideration or payment shall be delivered in exchange therefor or in respect thereof.therefor. In this Agreement, "
Appears in 2 contracts
Samples: Agreement and Plan of Reorganization (Upgrade International Corp /Fl/), Agreement and Plan of Reorganization (Pathways Group Inc)
