CONVERSION OF TARGET UNITS. At and as of the Effective Time, (A) the Target Unitholders (other than any Buyer-owned Unit) shall have the right to receive 1 Preferred Share ("Conversion Ratio") for each two (2) Target Units (the "Merger Consideration"), and (B) each Buyer-owned Unit shall be cancelled; provided, however, that the Merger Consideration shall be subject to equitable adjustment in the event of any split, distribution, or other change in the number of Target Units outstanding. No Target Unit shall be deemed to be outstanding or to
Appears in 5 contracts
Samples: Merger Agreement (Wendt Bristol Health Services Corp), Merger Agreement (Wendt Bristol Health Services Corp), Merger Agreement (Wendt Bristol Health Services Corp)
