Cancellation of Membership Interests. The initial Membership Interests issued to Time Warner upon the formation of HoldCo (as described under Section 1.04(a)) shall be canceled.
Cancellation of Membership Interests. You acknowledge and agree that the distribution to you of Restricted Shares hereunder is in lieu of, and to replace, your membership interests in Management LLC. By signing this Agreement, you agree that, upon the effectiveness of this Equity Incentive Letter pursuant to paragraph (f) hereof, any and all such membership interests shall be cancelled and forfeited, and shall be null, void and without any legal force or effect. You acknowledge and agree that this grant of the Restricted Shares is good and valuable and sufficient consideration for the cancellation of any and all such membership interests in Management LLC. You further agree to the dissolution of Management LLC and the liquidation thereof, as described herein.
Cancellation of Membership Interests. As of the Effective Time, all Membership Interests issued and outstanding immediately prior to the Effective Time shall no longer be outstanding and shall automatically be canceled and shall cease to exist, and each Securityholder shall cease to have any rights with respect to thereto, except the right to receive the right to receive the consideration specified in Section 2.6, payable or issuable, as applicable, in the form set forth above in Section 2.6.
Cancellation of Membership Interests. Any Units that are (a) exchanged for assets distributed or otherwise transferred by the Company or (b) relinquished to, or repurchased by, the Company, shall, in each case, by operation of this Agreement and without any further action on the part of the Member or the Managing Member, be cancelled. Schedule I and the books and records of the Company shall be amended accordingly.
Cancellation of Membership Interests. As of the Effective Date, each membership interest of Acquired Company issued and outstanding on the Effective Date shall be cancelled, and all rights in respect thereof shall cease, and thereafter any and all certificates for such membership interests shall be surrendered and cancelled. The membership interests of Surviving Company issued and outstanding on the Effective Date shall continue to be fully paid and non assessable membership interests of Surviving Company.
Cancellation of Membership Interests. At the Effective Time, all Company Membership Interests shall no longer be outstanding and shall be cancelled and retired and shall cease to exist, and each holder of a Company Membership Interest shall, subject to applicable Law, cease to have any rights with respect thereto, except the right to receive (A) the Merger Consideration in accordance with Section 2.2, and (B) any cash in lieu of fractional shares of AQSP Common Stock payable pursuant to Section 2.1(c). 25030699.144
Cancellation of Membership Interests. Any membership interests of the Company that are owned by Parent, Merger Sub or the Company shall be canceled and retired and shall cease to exist without any conversion thereof.
Cancellation of Membership Interests. Immediately prior to the Effective Time, each Company Membership Interest owned by Parent or any direct or indirect wholly owned Subsidiary (as defined in Section 2.2(a)) of Parent or the Company, shall be canceled and extinguished without any conversion thereof or payment therefor.
