Common use of Conversion of Common Units Clause in Contracts

Conversion of Common Units. Subject to Section 3.1(c), Section 3.2(h) and Section 3.4, each Common Unit (other than Common Units owned by Parent and its Subsidiaries immediately prior to the Effective Time) (each, a “Public Common Unit”) issued and outstanding as of immediately prior to the Effective Time shall be converted into the right to receive 1.40 Parent Shares (the “Merger Consideration” and such ratio, the “Exchange Ratio”), subject to adjustment in accordance with Section 3.4, which Parent Shares will be duly authorized, validly issued and non-assessable in accordance with applicable Laws.

Appears in 2 contracts

Samples: Merger Agreement (Archrock, Inc.), Merger Agreement (Archrock Partners, L.P.)

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Conversion of Common Units. Subject to Section 3.1(c), Section 3.2(h) and Section 3.4, each Common Unit (other than Common Units owned by Parent and its Subsidiaries immediately prior to the Effective Time) (each, a “Public Common Unit”) issued and outstanding as of immediately prior to the Effective Time shall be converted into the right to receive 1.40 0.62 of a Parent Shares Share (the “Merger Consideration” and such ratiofraction of a Parent Share, the “Exchange Ratio”), which Parent Shares will be duly authorized and validly issued in accordance with applicable Laws, subject to adjustment in accordance with Section 3.4, which Parent Shares will be duly authorized, validly issued and non-assessable in accordance with applicable Laws.

Appears in 2 contracts

Samples: Merger Agreement (Targa Resources Corp.), Merger Agreement (Targa Resources Corp.)

Conversion of Common Units. Subject to Section 3.1(c), Section 3.2(h) and Section 3.43.3, each Common Unit (other than Common Units owned by Parent and its Subsidiaries immediately prior to the Effective Time) (each, a “Public Common Unit”) issued and outstanding as of immediately prior to the Effective Time shall be converted into the right to receive 1.40 0.985 of a Parent Shares Share (the “Merger Consideration” and such ratio, the “Exchange Ratio”), subject to adjustment in accordance with Section 3.4, which such Parent Shares will be duly authorized, validly issued issued, fully paid and non-assessable in accordance with applicable Laws, subject to adjustment in accordance with Section 3.3.

Appears in 2 contracts

Samples: Merger Agreement (Oneok Inc /New/), Merger Agreement (Oneok Inc /New/)

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Conversion of Common Units. Subject to Section 3.1(c), Section 3.2(h) and Section 3.43.3, each Common Unit (other than Common Units owned by Parent and its Subsidiaries immediately prior to the Effective Time) (each, a “Public Common Unit”) issued and outstanding as of immediately prior to the Effective Time shall be converted into the right to receive 1.40 0.985 of a Parent Shares Share (the “Merger Consideration” and such ratio, the “Exchange Ratio”), subject to adjustment in accordance with Section 3.4, which such Parent Shares will be duly authorized, validly issued issued, fully paid and non-non- assessable in accordance with applicable Laws, subject to adjustment in accordance with Section 3.3.

Appears in 1 contract

Samples: Merger Agreement

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