Convey Initial Shares Sample Clauses

Convey Initial Shares. Following the Closing Date, and upon receipt by the Exchange Agent from a Record Holder of a certificate or certificates representing shares of Company Capital Stock, accompanied by the appropriate Letter of Transmittal duly completed and executed in accordance with the instructions appearing therein, the Exchange Agent shall, as soon as reasonably practicable, deliver to such Record Holder (or to a transferee specified in such Letter of Transmittal) the appropriate number of Initial Shares in exchange for the shares of Company Capital Stock held by such Record Holder. All of the shares of Company Capital Stock surrendered to the Exchange Agent shall be immediately canceled. The Exchange Agent is authorized to waive any irregularities in connection with any tender of Company Capital Stock only with the prior written consent of Parent.