Coxxxx Xhares, Etc Sample Clauses

Coxxxx Xhares, Etc. (a) At the Effective Time, Coxxxx'x xapital stock will consist of two classes of common stock: Voting Class A Common Stock, par value $100 per share ("Class A Common Stock") and Non- Voting Class B Common Stock, par value $100 per share ("Class B Common Stock" and together with the Class A Common Stock, "Coxxxx Xtock"). At the Effective Time, without any action on the part of the holders thereof, all outstanding shares of the Class A Common Stock and the Class B Common Stock shall continue unchanged. (b) Prior to the Effective Time, each Coxxxx member ("Coxxxx Xember") has paid or is obligated to pay an amount equal to the par value, $100.00, for each share of his or her Coxxxx Xlass A Common Stock, or an aggregate of $1,000.00 for such Coxxxx Member's required ten share ownership of Coxxxx Class A Common Stock, which is the pre-Merger required level of ownership of Class A Common Stock. (c) Upon the Effective Time, each Coxxxx Xember will be required to own sixty (60) shares of Class A Common Stock, par value $100.00 per share, for each separate retail location ("Store") up to a maximum of five (5) Stores or three hundred (300) such shares in the aggregate. Therefore, upon the Effective Time, each Coxxxx Xember will be required to purchase fifty (50) additional shares of TruServ Class A Common Stock at their par value ($100.00 per share) or an aggregate of $5,000.00, for such Member's first Store and sixty (60) additional shares of TruServ Class A Common Stock at their par value ($100.00 per share) or an aggregate of $6,000.00, for each of his or her second, third, fourth and fifth Stores. No additional TruServ Class A Common Stock will be required to be purchased by such Member for any Stores above five (5) in number. Payment for any such additional shares of TruServ Class A Common Stock may be made as set forth in subsection (d) below. (d) Payment of any amounts required under subparagraph (c) above may be made as follows, at the election of the purchasing Coxxxx Member: (i) in cash and in full immediately upon the Effective Time or (ii) by surrendering Class B Common Stock (at its par value of $100 per share), and, to the extent such purchasing Coxxxx Member does not possess sufficient Class B Common Stock to satisfy such obligation, by surrendering Coxxxx xatronage dividend subordinated (e) In the event, at any time between the Effective Time of the Merger and the fifth anniversary thereof, of any dissolution of TruServ, termination of corporate exist...