Cancellation of Pubco Shares Sample Clauses

Cancellation of Pubco Shares. At the SPAC Merger Effective Time, by virtue of the SPAC Merger and without any action on the part of any holder thereof, each share of capital stock of Pubco issued and outstanding immediately prior to the SPAC Merger Effective Time shall be redeemed by Pubco for par value.
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Cancellation of Pubco Shares. The sole director of Pubco, Xxxxxx Xxxxxx, will surrender for cancellation share certificate(s) representing 64,866,000 shares of Pubco Common Stock in the name of Xx. Xxxxxx by delivering such certificate(s) to Pubco duly executed and endorsed in blank (or accompanied by duly executed stock powers duly endorsed in blank), and adopting resolutions ordering the cancellation of such shares, which resolutions and cancellation will be effective on Closing.
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Cancellation of Pubco Shares. Each share of PubCo that is issued and outstanding immediately prior to the Merger Effective Time (which shall consist solely of the Initial PubCo Interest) shall be automatically converted into and exchanged for the right to receive its pro rata portion of the Initial PubCo Interest Redemption Amount. Promptly following the Merger Effective Time, PubCo shall pay the Initial PubCo Interest Redemption Amount to the Initial PubCo Shareholder prior to the Merger Effective Time in accordance with written instructions provided thereby.
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Related to Cancellation of Pubco Shares

  • Cancellation of Warrants In the event the Company shall purchase or otherwise acquire Warrants, the same shall thereupon be cancelled and retired. The warrant agent (if so appointed) shall cancel any Warrant surrendered for exchange, substitution, transfer or exercise in whole or in part.

  • Cancellation of Shares If the Corporation shall make available, at the time and place and in the amount and form provided in this Agreement, the consideration for the Purchased Shares to be repurchased in accordance with the provisions of this Agreement, then from and after such time, the person from whom such shares are to be repurchased shall no longer have any rights as a holder of such shares (other than the right to receive payment of such consideration in accordance with this Agreement). Such shares shall be deemed purchased in accordance with the applicable provisions hereof, and the Corporation shall be deemed the owner and holder of such shares, whether or not the certificates therefor have been delivered as required by this Agreement.

  • Cancellation of Certain Shares Each share of Company Common Stock held by Parent, Merger Sub, any wholly-owned subsidiary of Parent or Merger Sub, in the treasury of the Company or by any wholly-owned subsidiary of the Company immediately prior to the Effective Time shall be canceled and extinguished without any conversion thereof and no payment shall be made with respect thereto.

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