Common use of Cancellation of Treasury Stock and Owned Stock Clause in Contracts

Cancellation of Treasury Stock and Owned Stock. Each share of Company Common Stock that is owned by Parent or any direct or indirect subsidiary of Parent immediately prior to the Effective Time and any Company Common Stock held in the treasury of the Company immediately prior to the Effective Time will automatically be canceled and retired and will cease to exist, and no consideration will be delivered in exchange therefor.

Cancellation of Treasury Stock and Owned Stock. Each share common share, without par value, of the Company (the "Company Common Stock that is owned by Parent or any direct or indirect subsidiary of Parent Stock") issued and outstanding immediately prior to the Effective Time and owned by Parent, or Merger Sub, the Company or any Company Common Stock Subsidiary (other than such shares held in the treasury of the Company immediately prior a fiduciary, collateral, custodial or similar capacity, which will be converted pursuant to the Effective Time Section 2.1(c)) will automatically be canceled and retired without payment of any consideration therefor and will cease to exist, and no consideration will be delivered in exchange therefor.