Common use of Conversion of Stock Rights Clause in Contracts

Conversion of Stock Rights. Each of the Parties shall take all such action as may be necessary to cause, at the Effective Time, each Stock Right granted by the Company to purchase Company Shares which is outstanding and unexercised immediately prior thereto (whether or not vested or exercisable), to be converted automatically into an equivalent Stock Right to purchase Acquiror Shares in an amount and at an exercise price determined as follows:

Conversion of Stock Rights. Each of the Parties The Company shall take all such action as may be necessary to cause, at the Effective Time, each Stock Right (but excluding rights of holders of Nonvoting Shares to exchange such shares for Voting Shares) granted by the Company to purchase Company Shares which is outstanding and unexercised immediately prior thereto (whether or not vested or exercisable), to be converted automatically into an equivalent Stock Right to purchase Acquiror Parent Shares in an amount and at an exercise price determined as follows: