Conversion of Shares; Payment of Merger Consideration. (a) At the Effective Time, by virtue of the Merger and without any action on the part of FirstSpartan or the holders of record of FirstSpartan Common Stock, each share of FirstSpartan Common Stock issued and outstanding immediately prior to the Effective Time shall be converted into and shall represent the right to receive, upon surrender of the certificate representing such share of FirstSpartan Common Stock (as provided in subsection (d) below), the Merger Consideration.
Conversion of Shares; Payment of Merger Consideration. (a) At the Effective Time, by virtue of the Merger and without any action on the part of First Virginia or the holders of record of First Virginia Common Stock, each share of First Virginia Common Stock issued and outstanding immediately prior to the Effective Time shall be converted into and shall represent the right to receive, upon surrender of the certificate representing such share of First Virginia Common Stock (as provided in subsection (d) below), the Merger Consideration.
Conversion of Shares; Payment of Merger Consideration. (a) At the Effective Time, by virtue of the Merger and without any action on the part of UCB or the holders of record of UCB Common Stock, each share of UCB Common Stock issued and outstanding immediately prior to the Effective Time shall be converted into and shall represent the right to receive, upon surrender of the certificate representing such share of UCB Common Stock (as provided in paragraph (d) below), the Merger Consideration.
Conversion of Shares; Payment of Merger Consideration. (a) At the Effective Time, by virtue of the Merger and without any action on the part of Maryland Federal or the holders of record of shares of the common stock, par value $.01 per share, of Maryland Federal ("Maryland Federal Common Stock"), each share of Maryland Federal Common Stock issued and outstanding immediately prior to the Effective Time shall be converted into and shall represent the right to receive, upon surrender of the certificate representing such share of Maryland Federal Common Stock (as provided in subsection (d) below), the Merger Consideration (as defined below in Section 5).
Conversion of Shares; Payment of Merger Consideration. (a) At the Effective Time, by virtue of the Merger and without any action on the part of Franklin or the holders of record of Franklin Common Stock, each share of Franklin Common Stock issued and outstanding immediately prior to the Effective Time shall be converted into and shall represent the right to receive, upon surrender of the certificate representing such share of Franklin Common Stock (as provided in paragraph (d) below), the Merger Consideration.
Conversion of Shares; Payment of Merger Consideration. Subject to Section 1.06, each share of common stock, no par value, of FSB (the "FSB Stock") issued and outstanding immediately prior to the Effective Time of the Merger shall, without any further action on the part of FSB or the holders of such shares, be treated on the basis set forth herein. At the Effective Time, pursuant to this Agreement, each outstanding share of FSB Stock, excluding any treasury shares and Dissenting Shares (as defined in Sectin 1.13(a)) shall, without any further action on the part of FSB or the holders of any such shares, be automatically canceled and cease to be an issued and outstanding share of FSB Stock and shall be converted into the right to receive the Initial Merger Consideration (as defined in Section 1.04(a)) and the Contingent Merger Consideration (as defined in Section 1.04(b)). The Initial Merger Consideration and the Contingent Merger Consideration are hereinafter collectively referred to as the "Merger Consideration."
Conversion of Shares; Payment of Merger Consideration. (a) At the Effective Time, by virtue of the Merger and without any action on the part of Carbon or the holders of record of Carbon Common Stock, Evergreen, the holders of record of Evergreen Common Stock, or Merger Sub, each share of Carbon Common Stock issued and outstanding immediately prior to the Effective Time (other than the Excluded Shares) shall be converted into and shall represent the right to receive, upon surrender of the certificate representing such share of Carbon Common Stock (as provided in subsection (d) below), the Merger Consideration.
Conversion of Shares; Payment of Merger Consideration. (a) At the Effective Time, by virtue of the Merger and without any action on the part of One Valley or the holders of record of One Valley Common Stock, each share of One Valley Common Stock issued and outstanding immediately prior to the Effective Time shall be converted into and shall represent the right to receive, upon surrender of the certificate representing such share of One Valley Common Stock (as provided in subsection (d) below), the Merger Consideration.
Conversion of Shares; Payment of Merger Consideration. (a) At the Effective Time, by virtue of the Merger and without any action on the part of Matewan or the holders of record of Matewan Common Stock or Matewan Preferred Stock, each share of Matewan Common Stock and each share of Matewan Preferred Stock issued and outstanding immediately prior to the Effective Time shall be converted into and shall represent the right to receive, upon surrender of the certificate representing such share of Matewan Common Stock or Matewan Preferred Stock (as provided in subsection (d) below), the Merger Consideration.
Conversion of Shares; Payment of Merger Consideration. (a) At the Effective Time, by virtue of the Merger and without any action on the part of Republic or the holders of record of Republic Common Stock, each share of Republic Common Stock issued and outstanding immediately prior to the Effective Time shall be converted into and shall represent the right to receive, upon surrender of the certificate representing such share of Republic Common Stock (as provided in subsection (d) below), the Merger Consideration.
