Common use of Cancellation of Parent Common Stock Clause in Contracts

Cancellation of Parent Common Stock. At the Effective Time, by virtue of the Mergers and without any action on the part of any holder of any capital stock of ValueVision, National Media or Parent, each share of Parent Common Stock issued and outstanding immediately prior to the Effective Time shall be canceled, and no consideration shall be delivered in exchange therefor.

Appears in 3 contracts

Samples: Agreement and Plan of Reorganization and Merger (Quantum Direct Corp), Agreement and Plan of Reorganization and Merger (National Media Corp), Agreement and Plan of Reorganization and Merger (Valuevision International Inc)

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Cancellation of Parent Common Stock. At the Effective Time, by virtue of the Mergers and without any action on the part of any holder of any capital stock of ValueVisionWestern Power, National Media E-Mobile or Parent, each share of Parent Common Stock issued and outstanding immediately prior to the Effective Time shall be canceled, and no consideration shall be delivered in exchange therefor.

Appears in 1 contract

Samples: Merger Agreement (Western Power & Equipment Corp)

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