Common use of Cash Election Shares Less Than Total Cash Amount Clause in Contracts

Cash Election Shares Less Than Total Cash Amount. If the aggregate cash amount that would be paid upon conversion of the Cash Election Shares pursuant to the First Merger is less than the Total Cash Amount, then: (1) all Cash Election Shares shall be converted into the right to receive the Per Share Cash Consideration, (2) the Exchange Agent shall then select first from among the No Election Shares and then (if necessary) from among the Stock Election Shares, in each case by a pro rata selection process, a sufficient number of shares (“Cash Designated Shares”) such that the aggregate cash amount that will be paid pursuant to the First Merger equals as closely as practicable the Total Cash Amount, and all Cash Designated Shares shall be converted into the right to receive the Per Share Cash Consideration, and (3) the Stock Election Shares and the No Election shares that are not Cash Designated Shares shall be converted into the right to receive the Per Share Stock Consideration.

Appears in 2 contracts

Samples: Merger Agreement (General Geophysics Co), Merger Agreement (Veritas DGC Inc)

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Cash Election Shares Less Than Total Cash Amount. If the aggregate cash amount that would be paid upon conversion in the Merger of the Cash Election Shares pursuant to the First Merger is less than the Total Cash Amount, then: (1A) all Cash Election Shares shall be converted into the right to receive the Per Share Cash Consideration, (2B) the Exchange Agent shall then select first from among the No Election Shares and then (if necessary) from among the Stock Election Shares, in each case by a pro rata selection process, a sufficient number of shares (“Cash Designated Shares”) such that the aggregate cash amount that will be paid pursuant to in the First Merger equals as closely as practicable the Total Cash Amount, and all Cash Designated Shares shall be converted into the right to receive the Per Share Cash Consideration, and (3C) the Stock Election Shares and the No Election shares that are not Cash Designated Shares shall be converted into the right to receive the Per Share Stock Consideration.

Appears in 1 contract

Samples: Merger Agreement (Mercantile Bankshares Corp)

Cash Election Shares Less Than Total Cash Amount. If the aggregate cash amount that would be paid upon conversion of the Section 1.5(e) Cash Election Shares pursuant to the First Merger Amount is less than the Total Cash Amount, then: (1A) all Cash Election Shares shall be converted into the right to receive the Per Share Cash Consideration, (2B) the Exchange Agent shall then select first from among the No Election Shares and then (if necessary) from among the Stock Election Shares, in each case by a pro rata selection process, a sufficient number of shares (“Cash Designated Shares”) such that the aggregate cash amount that will be paid pursuant to in the First Merger equals as closely as practicable the Total Cash Amount, and all Cash Designated Shares shall be converted into the right to receive the Per Share Cash Consideration, and (3C) the Stock Election Shares and the No Election shares Shares that are not Cash Designated Shares shall be converted into the right to receive the Per Share Stock Consideration.

Appears in 1 contract

Samples: Merger Agreement (Susquehanna Bancshares Inc)

Cash Election Shares Less Than Total Cash Amount. If the aggregate cash amount that would be paid upon conversion of the Cash Election Shares pursuant to in the First Merger is less than the Total Cash Amount, then: (1) all Cash Election Shares shall be converted into the right to receive the Per Share Cash Consideration, (2) the Exchange Agent shall then select first from among the No Election Shares and then (if necessary) from among the Stock Election Shares, in each case by a pro rata selection process, a sufficient number of shares ("Cash Designated Shares") such that the aggregate cash amount that will be paid pursuant to in the First Merger equals as closely as practicable the Total Cash Amount, and all Cash Designated Shares shall be converted into the right to receive the Per Share Cash Consideration, and (3) the Stock Election Shares and the No Election shares that are not Cash Designated Shares shall be converted into the right to receive the Per Share Stock Consideration.

Appears in 1 contract

Samples: Merger Agreement (Noble Energy Inc)

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Cash Election Shares Less Than Total Cash Amount. If the aggregate cash amount that would be paid upon conversion in the Merger of the Cash Election Shares pursuant to the First Merger is less than the Total Cash Amount, then: (1) all All Cash Election Shares shall be converted into the right to receive the Per Share Cash Consideration, (2) the The Exchange Agent shall then select first from among the No Election Shares and then (if necessary) from among the Stock Election Shares, in each case by a pro rata selection process, a sufficient number of shares ("Cash Designated Shares") such so that the aggregate cash amount that will be paid pursuant to in the First Merger equals as closely as practicable the Total Cash Amount, and all Cash Designated Shares shall be converted into the right to receive the Per Share Cash Consideration, and (3) the The Stock Election Shares and the No Election shares that are not Cash Designated Shares shall be converted into the right to receive the Per Share Stock Consideration.

Appears in 1 contract

Samples: Merger Agreement (Harleysville National Corp)

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