Common use of Dissenting Shares Clause in Contracts

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect to each share of Company Class A Common Stock held by a holder who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect to such share and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such share, a “Dissenting Share”), if any, such Dissenting Shares shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, the right to receive, without interest thereon, the Public Merger Consideration. (b) The Company shall give Parent (i) prompt notice of all demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection with the Mergers and (ii) the reasonable opportunity to participate in all Proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Shares. The Company shall not, except with the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisal, or settle or offer to settle any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demand.

Appears in 3 contracts

Samples: Merger Agreement (Sculptor Capital Management, Inc.), Merger Agreement (Rithm Capital Corp.), Merger Agreement (Sculptor Capital Management, Inc.)

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Dissenting Shares. (a) Notwithstanding anything in any other provision of this Agreement to the contrary, with respect to each share the extent that holders thereof are entitled to appraisal rights under Section 262 of the DGCL or similar appraisal or dissenters’ rights under any other applicable Law, shares of Company Class A Common Stock issued and outstanding immediately prior to the Effective Time and held by a holder who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect to such share and for which the holder or Beneficial Owner has properly exercised and validly perfected its statutory his or her demand for appraisal or dissenters’ rights of appraisal in respect of such shares in accordance with under Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal such other applicable Law (each such share, a the “Dissenting ShareShares”), if any, such Dissenting Shares shall not be converted into or represent a the right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at Consideration. At the Effective Time, such the Dissenting Shares shall no longer be outstanding and shall automatically be cancelled canceled and shall cease to exist, and such each holder of Dissenting Shares shall cease to have any rights with respect thereto, except but the right to receive the fair value holders of such Dissenting Shares in accordance with the provisions of shall be entitled to receive such consideration as shall be determined pursuant to Section 262 of the DGCLDGCL or such other applicable Law; provided, however, that (i) if any such holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure shall have failed to perfect or otherwise) the shall have effectively withdrawn or lost his or her right to dissent appraisal or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal dissenters’ rights as provided in and payment under the DGCL or such other applicable Law, as applicable (iii) if a court of competent jurisdiction shall determine that such holder whether occurring before, at or Beneficial Owner is not entitled to after the relief provided by Section 262 of the DGCLEffective Time), such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such holder’s shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, Time into the right to receivereceive the Merger Consideration, without any interest thereon, and such shares shall not be deemed to be Dissenting Shares. Any payments required to be made with respect to the Public Dissenting Shares shall be made by Parent (and not the Company or Acquisition Sub), and the Aggregate Merger Consideration. (b) Consideration shall be reduced, on a dollar-for-dollar basis, as if the holder of such Dissenting Shares had not been a stockholder on the Closing Date. The Company shall give prompt written notice to Parent (i) prompt notice of all any demands for appraisal received by the Companyof or dissenters’ rights respecting any shares of Company Common Stock, withdrawals of such demands, demands and any other instruments served pursuant to Section 262 of the DGCL or such other applicable Law received by the Company in connection with relating to appraisal or dissenters’ demands, and Parent shall have the Mergers and (ii) the reasonable opportunity right to participate in all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Prior to the Effective Time, the Company shall not, except with without the prior written consent of ParentParent (which consent shall not be unreasonably withheld or delayed), voluntarily make any payment with respect to any demands for appraisalto, or settle or offer to settle settle, any demands for paymentsuch demands, in respect of Dissenting Shares. Any portion or agree to do or commit to do any of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandforegoing.

Appears in 3 contracts

Samples: Merger Agreement (Twitter, Inc.), Merger Agreement, Merger Agreement

Dissenting Shares. (aNotwithstanding Section 3.1(b) Notwithstanding anything in this Agreement hereof, to the contraryextent that holders thereof are entitled to appraisal rights under Section 262 of Delaware Law, with respect to each share shares of Company Class A Common Stock issued and outstanding immediately prior to the Effective Time and held by a holder who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect to such share and for which the holder or Beneficial Owner has properly exercised and validly perfected its statutory his or her demand for appraisal rights of appraisal in respect of such shares in accordance with under Section 262 of Delaware Law (the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such share, a “Dissenting ShareShares), if any, such Dissenting Shares ) shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value applicable Merger Consideration, but, instead, the holders of such Dissenting Shares in accordance with the provisions of shall be entitled to receive such consideration as shall be determined pursuant to Section 262 of the DGCLDelaware Law; provided, however, that (i) if any such holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure shall have failed to perfect or otherwise) the right to dissent shall have effectively withdrawn or its right for appraisal of such Dissenting Shares, (ii) if any holder lost his or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of and payment under Delaware Law, such holder’s shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, Time into the right to receivereceive the applicable Merger Consideration, without any interest thereon, the Public Merger Consideration. (b) and such shares shall not be deemed to be Dissenting Shares. The Company shall give Parent Buyer (i) prompt notice of all any demands for appraisal filed pursuant to Section 262 of Delaware Law received by the Company, withdrawals of such demands, demands and any other instruments served or delivered in connection with such demands pursuant to Delaware Law and received by the Company and (ii) the opportunity to participate in all negotiations and proceedings with respect to demands made pursuant to Section 262 of the DGCL received by the Company in connection with the Mergers and (ii) the reasonable opportunity to participate in all Proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting SharesLaw. The Company shall not, except with the prior written consent of Parent, voluntarily not (x) make any payment with respect to any demands for appraisalsuch demand, or (y) offer to settle, settle or offer approve any withdrawal or other treatment of, any such demand or (z) waive any failure to settle timely deliver a written demand for appraisal or timely take any demands for paymentother action to perfect appraisal rights in accordance with Delaware Law, except in respect each case with the prior written consent of Dissenting SharesBuyer, which consent shall not be unreasonably withheld, delayed or conditioned; provided that no such consent shall be required if such actions are required by Delaware Law or court order. Any portion of payments required to be made with respect to the Public Dissenting Shares shall be made by Buyer (and not the Company or Acquisition Sub) and the Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandreduced, on a dollar for dollar basis, as if the holder of such Dissenting Shares had not been a stockholder on the Closing Date.

Appears in 3 contracts

Samples: Merger Agreement (Teva Pharmaceutical Industries LTD), Merger Agreement (Bentley Pharmaceuticals Inc), Merger Agreement (Teva Pharmaceutical Industries LTD)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect Shares outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and held by a holder who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect is entitled to demand and properly demands appraisal for such share and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares Shares in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such share, a the “Dissenting ShareShares), if any, such Dissenting Shares shall ) will not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by provided in Section 262 of the DGCL3.1(a), and but instead, at the Effective Time, such Dissenting Shares shall will no longer be outstanding and shall will automatically be cancelled and shall cease to exist, and such holder shall the holders of Dissenting Shares will cease to have any rights with respect thereto, thereto except the right to receive payment of the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, provided that (i) if any such holder fails to perfect, or Beneficial Owner of Dissenting Sharesotherwise waives, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement right to appraisal rights as provided in under Section 262 of the DGCL with respect to such Dissenting Shares or (iii) if a court of competent jurisdiction shall determine determines that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit then the right to appraisal of such shares holder to be paid the fair value of Company Class A Common Stock his, her or its Dissenting Shares will cease, and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter Shares will be deemed to have been converted into into, and to have become, as of the Effective Time, become exchangeable solely for the right to receive, without interest thereon, the Public Merger ConsiderationConsideration as of the Effective Time as provided in Section 3.1(a). (b) The Company shall give provide Parent (i) with prompt written notice of all any written demands for appraisal received by the Company(including copies of such written demands), withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection with from holders of Shares relating to rights of appraisal, and Parent shall have the Mergers opportunity and (ii) right to direct the reasonable opportunity to participate in conduct of all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharesappraisal. The Company shall not, except Except with the prior written consent of Parent, the Company shall not voluntarily make any payment with respect to any demands for appraisal, appraisal or settle or offer to settle any such demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandappraisal.

Appears in 3 contracts

Samples: Agreement and Plan of Merger, Merger Agreement (TESARO, Inc.), Merger Agreement (TESARO, Inc.)

Dissenting Shares. (a) Notwithstanding anything in any other provision of this Agreement to the contrary, with respect any Share that is outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and that is held by a holder Stockholder who neither shall have not voted in favor of adoption of this Agreement the Merger or consented thereto in writing with respect to and who shall have properly demanded appraisal for such share and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares Share in accordance with the terms and conditions of Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such sharecollectively, a the “Dissenting ShareShares), if any, such Dissenting Shares ) shall not be converted into or represent a the right to receive any the applicable portion of the Public Merger Consideration and such holders and Beneficial Owner thereof Consideration. Such Stockholder shall instead be entitled to receive payment of the appraised value of such rights as are granted by Share in accordance with the provisions of Section 262 of the DGCL, except that any Dissenting Share held by a Stockholder who shall have failed to perfect or who effectively shall have withdrawn or otherwise lost his, her or its rights to appraisal of such Share under Section 262 of the DGCL shall thereupon be deemed to have been converted into and at to have become exchangeable, as of the Effective Time, for the right to receive, without any interest thereon, the applicable portion of the Merger Consideration. The Company shall give Buyer prompt notice of any demands received by the Company for appraisal of Shares and attempted withdrawals of such demands, and any other instruments or documents served pursuant to the DGCL and received by the Company with respect to such demands, and the Company shall give Buyer the opportunity to direct all negotiations and proceedings which take place prior to the Effective Time with respect to such demands. Except with the prior written consent of Buyer, the Company shall not make any payment with respect to, or offer to settle or settle, any such demands. Any amount deposited with the Paying Agent with respect to Shares that become Dissenting Shares shall be used to pay the amount payable to such Dissenting Shares shall no longer be outstanding upon the determination of such amount by a court of competent jurisdiction pursuant to Section 262 of the DGCL. (b) At the Effective Time and shall automatically be cancelled and shall cease to existthereafter, and such any holder of Dissenting Shares shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares rights provided in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, the right to receive, without interest thereon, the Public Merger Consideration. (b) The Company shall give Parent (i) prompt notice of all demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection with the Mergers and (ii) the reasonable opportunity to participate in all Proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Shares. The Company shall not, except with the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisal, or settle or offer to settle any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demand.

Appears in 3 contracts

Samples: Merger Agreement (Majesco), Merger Agreement (Majesco), Merger Agreement (InsPro Technologies Corp)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect Shares outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and held by a holder who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect is entitled to such share demand and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of demanded appraisal in respect of for such shares Shares in accordance with with, and who complies in all respects with, Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such shareShares, a the “Dissenting ShareShares), if any, such Dissenting Shares ) shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the applicable Merger Consideration, and shall instead represent the right to receive payment of the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief extent provided by Section 262 of the DGCL. If any such holder fails to perfect or otherwise waives, such holder(s) withdraws or Beneficial Owner(s) (as the case may be) shall forfeit the loses his right to appraisal under Section 262 of the DGCL or other applicable Law, then the right of such shares holder to be paid the fair value of Company Class A Common Stock such Dissenting Shares shall cease and such shares of Company Class A Common Stock Dissenting Shares shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have becomeconverted, as of the Effective Time, into and shall be exchangeable solely for the right to receivereceive the applicable Merger Consideration, without interest thereon, the Public Merger Consideration. (b) and subject to any withholding of Taxes required by applicable Law in accordance with Section 2.2(e). The Company shall give Parent (i) prompt notice of all any demands for appraisal received by the CompanyCompany for appraisal of Shares, attempted withdrawals of such demands, demands and any other instruments served pursuant to Section 262 of the DGCL and received by the Company in connection with relating to rights to be paid the Mergers fair value of Dissenting Shares, and (ii) Parent shall have the reasonable opportunity right to participate in and to control all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Prior to the Effective Time, the Company shall not, except with the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisalto, or settle or compromise or offer to settle or compromise, any demands for paymentsuch demands, in respect or approve any withdrawal of Dissenting Shares. Any portion any such demands, or agree to do any of the Public Merger Consideration made available foregoing. Notwithstanding anything to the Paying Agent pursuant contrary contained herein, each of Parent, Purchaser and the Company acknowledge and agree that in any appraisal proceeding under Section 262 of the DGCL with respect to Dissenting Shares and to the fullest extent permitted by applicable Law, the Surviving Corporation shall not assert that the Top-Up Option, the Top-Up Option Shares or any cash or Promissory Note delivered by Purchaser to the Company as payment for any Top-Up Option Shares should be considered in connection with the determination of the fair value of the Dissenting Shares in accordance with Section 3.03 to pay for shares 262(h) of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandthe DGCL.

Appears in 3 contracts

Samples: Merger Agreement, Merger Agreement (General Electric Co), Merger Agreement (Clarient, Inc)

Dissenting Shares. (a) Notwithstanding anything in this Agreement Section 1.02, Shares which are issued and outstanding immediately prior to the contrary, with respect to each share of Company Class A Common Stock Effective Time and which are held by a holder who neither has not voted such shares in favor of adoption of this Agreement or consented thereto in writing with respect to such share and the Merger, who shall have delivered a written demand for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares Shares in accordance with Section 262 the manner provided by the Delaware Law and who, as of the DGCL and has Effective Time, shall not have effectively withdrawn or lost its rights such right to appraisal (each such share, a “"Dissenting Share”), if any, such Dissenting Shares Shares") shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such Consideration. The holders and Beneficial Owner thereof shall be entitled only to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Delaware Law. Each holder of Dissenting Shares who becomes entitled to payment for such Shares pursuant to Section 262 of the Delaware Law shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except receive payment therefor from the right to receive the fair value of such Dissenting Shares Surviving Corporation in accordance with the provisions of Section 262 of the DGCLDelaware Law; provided, however, that (i) if any such holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails shall have failed to establish his, her or its his entitlement to appraisal rights as provided in Section 262 of the DGCL Delaware Law, (ii) if any such holder of Dissenting Shares shall have effectively withdrawn his demand for appraisal of such Shares or lost his right to appraisal and payment for his Shares under Section 262 of the Delaware Law or (iii) if neither any holder of Dissenting Shares nor the Surviving Corporation shall have filed a court petition demanding a determination of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief value of all Dissenting Shares within the time provided by in Section 262 of the DGCLDelaware Law, such holder(s) or Beneficial Owner(s) (as the case may be) holder shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, Shares and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter Share shall be deemed to have treated as if it had been converted into a Non-Electing Share and to have becomehad been converted, as of the Effective Time, the into a right to receivereceive the Merger Consideration, without interest thereon, from the Public Merger Consideration. (b) Surviving Corporation as provided in Section 1.02 hereof. The Company shall give Parent (i) MergerSub prompt notice of all any demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection with for appraisal of Shares, and MergerSub shall have the Mergers and (ii) the reasonable opportunity right to participate in all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Company shall not, except with the prior written consent of ParentMergerSub, voluntarily make any payment with respect to any demands for appraisalto, or settle or offer to settle settle, any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandsuch demands.

Appears in 3 contracts

Samples: Merger Agreement (Lee Thomas H Equity Fund Iii L P), Merger Agreement (Donaldson Lufkin & Jenrette Inc /Ny/), Merger Agreement (Donaldson Lufkin & Jenrette Inc /Ny/)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect Shares outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and held by a holder who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect is entitled to such share demand and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of demanded appraisal in respect of for such shares Shares in accordance with with, and who complies in all respects with, Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such shareShares, a the “Dissenting ShareShares), if any, such Dissenting Shares shall ) will not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; providedMerger Consideration, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) will instead represent the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in receive only the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief payment provided by Section 262 of the DGCL. If any such holder fails to perfect or otherwise waives, such holder(s) withdraws or Beneficial Owner(s) (as the case may be) shall forfeit the loses his, her or its right to appraisal under Section 262 of the DGCL, then the right of such shares holder to receive such payment in respect of Company Class A Common Stock such Dissenting Shares will cease and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter Shares will be deemed to have been converted into and to have becomeconverted, as of the Effective Time, into and will be exchangeable solely for the right to receivereceive the Merger Consideration, without interest thereon, the Public Merger Consideration. (b) interest. The Company shall will give Parent (i) prompt notice of all any demands for appraisal received by the CompanyCompany for appraisal of Shares, attempted withdrawals of such demands, demands and any other instruments served pursuant to Section 262 of the DGCL and received by the Company in connection with relating to rights to be paid the Mergers fair value of Dissenting Shares, and (ii) Parent will have the reasonable opportunity right to participate in and direct all negotiations and Proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Company shall will not, except with the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisalto, or settle or compromise or offer to settle or compromise, any demands for paymentsuch demands, in respect or approve any withdrawal of Dissenting Sharesany such demands, or agree to do any of the foregoing. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 2.2(a) to pay for shares of Company Class A Common Stock Shares for which appraisal rights have been perfected as described in this Section 2.3 shall be returned to Parent Parent, upon demand; provided, that the parties acknowledge that, notwithstanding anything to the contrary in this Agreement, Parent shall not be required under this Section 2.3 or otherwise to deposit with the Paying Agent any cash to pay any Merger Consideration with respect to Shares as to which its holder has purported to deliver a notice or demand of appraisal that has not been withdrawn prior to the Closing Date. Parent shall pay additional cash to the Paying Agent to the extent required to pay the Merger Consideration in respect of the foregoing Shares if and when such Shares cease to be Dissenting Shares.

Appears in 3 contracts

Samples: Merger Agreement (Alaska Air Group, Inc.), Merger Agreement (Alaska Air Group, Inc.), Merger Agreement (Virgin America Inc.)

Dissenting Shares. (a) Notwithstanding anything to the contrary set forth in this Agreement Agreement, no shares of Company Common Stock issued and outstanding immediately prior to the contrary, with respect to each share of Company Class A Common Stock held by a holder who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect to such share Effective Time and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares which appraisal rights shall have been perfected in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal in connection with the Merger (each such sharecollectively, a “Dissenting ShareShares), if any, such Dissenting Shares ) shall not be converted into or represent a right to receive any that portion of the Public Merger Consideration and otherwise payable to the holder of such holders and Beneficial Owner thereof Dissenting Shares as provided in Section 2.1(a), but shall instead be entitled converted into the right to receive such consideration as may be determined to be due with respect to such rights as are granted by Section 262 Dissenting Shares pursuant to the DGCL. Each holder of Dissenting Shares who, pursuant to the provisions of the DGCL, and at becomes entitled to payment of the Effective Time, fair value of such shares shall receive payment therefor in accordance with the DGCL (but only after the value therefor shall have been agreed upon or finally determined pursuant to the DGCL). In the event that any holder of Company Common Stock fails to make an effective demand for payment or fails to perfect its appraisal rights as to its shares of Company Common Stock or any Dissenting Shares shall no longer otherwise lose their status as Dissenting Shares, then any such shares shall be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except converted into the right to receive the fair value Merger Consideration issuable pursuant to Section 2.1(a) in respect of such shares as if such shares had never been Dissenting Shares Shares, in accordance with and following the provisions of Section 262 satisfaction of the DGCL; provided, however, that applicable requirements and conditions set forth in Section 2.2. The Company shall give Parent prompt notice (and in no event more than two Business Days) of (i) if any demand received by the Company for appraisal of Company Common Stock (and shall give Parent the opportunity to participate in all negotiations and proceedings with respect to any such demand) or (ii) any notice of exercise by any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and Company Common Stock of appraisal rights in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, the right to receive, without interest thereon, the Public Merger Consideration. (b) The Company shall give Parent (i) prompt notice of all demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection with the Mergers and (ii) the reasonable opportunity to participate in all Proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Shares. The Company shall notagrees that, except with the Parent’s prior written consent of Parent(which shall not be unreasonably withheld, delayed or conditioned), it shall not voluntarily make any payment or offer to make any payment with respect to any demands for appraisalto, or settle or offer to settle settle, any demands such demand for payment, in respect appraisal or exercise of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandrights.

Appears in 3 contracts

Samples: Merger Agreement (PLX Technology Inc), Merger Agreement (PLX Technology Inc), Merger Agreement (Integrated Device Technology Inc)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect Shares that are issued and outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and that are held by a holder stockholders who neither voted are properly demanding appraisal rights pursuant to, and who are complying in favor all respects with, the provisions of adoption Section 262 of this Agreement the Corporation Law (the “Dissenting Shares”) shall not be converted into or consented thereto in writing with respect be exchangeable for the right to receive the Merger Consideration, but shall be converted into the right to receive such share consideration as may be determined to be due to the holders of Dissenting Shares pursuant to Section 262 of the Corporation Law, unless and for which until such holders shall have failed to perfect or shall have effectively withdrawn or lost their rights to appraisal under Section 262 of the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares Corporation Law. Dissenting Shares shall be treated in accordance with Section 262 of the DGCL and has not Corporation Law. If any such holder shall have failed to perfect or shall have effectively withdrawn or lost its rights such right to appraisal (each such share, a “Dissenting Share”), if anyappraisal, such Dissenting holder’s Shares shall not thereupon be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right become exchangeable only for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, the right to receive, as of the later of the Effective Time and the time that such right to appraisal shall have been irrevocably lost, withdrawn or expired, the Merger Consideration, without any interest thereon, the Public Merger Consideration. (b) . The Company shall give Parent and Merger Sub (ia) prompt notice of all any written demands for appraisal received by the Companyof any Shares (or written threats thereof), withdrawals of such demands, demands and any other instruments served pursuant to Section 262 of the DGCL Corporation Law and received by the Company in connection with relating to rights to be paid the Mergers “fair value” of Dissenting Shares, and (iib) the reasonable opportunity right to participate in and direct all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharesthe Corporation Law. The Company shall not, except with the prior written consent of Parent, voluntarily make or agree to make any payment with respect to any demands for appraisalappraisals of capital stock of the Company, or settle or offer to settle or settle any demands for paymentsuch demands, in respect approve any withdrawal of Dissenting Shares. Any portion any such demands, or agree to do any of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandforegoing.

Appears in 3 contracts

Samples: Agreement and Plan of Merger (Durata Therapeutics, Inc.), Merger Agreement (Cadence Pharmaceuticals Inc), Merger Agreement (Mallinckrodt PLC)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect Shares that are issued and outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and which are held by a holder who neither voted in favor stockholders properly exercising appraisal rights available under Section 262 of adoption the DGCL (the “Dissenting Shares”) shall not be converted into or be exchangeable for the right to receive the Merger Consideration, unless and until such holders shall have failed to perfect or shall have effectively withdrawn or lost their rights to appraisal under the DGCL. Holders of this Agreement or consented thereto in writing with respect Dissenting Shares shall be entitled to such share payment of the appraised value of the Dissenting Shares held by them to the extent permitted by and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares in accordance with Section 262 of the DGCL and has not DGCL. If any such holder shall have failed to perfect or shall have effectively withdrawn or lost its rights such right to appraisal (each such share, a “Dissenting Share”), if anyappraisal, such Dissenting holder’s Shares shall not thereupon be converted into or represent a and become exchangeable only for the right to receive any portion receive, as of the Public later of the Effective Time and the time that such right to appraisal shall have been irrevocably lost, withdrawn or expired, the Merger Consideration Consideration, without interest, and subject to deduction for any required withholding Tax. The Company shall give Parent and Merger Sub (i) prompt written notice of any demands for appraisal of any Shares, attempted withdrawals of such holders demands and Beneficial Owner thereof shall any other instruments served pursuant to the DGCL and received by the Company relating to rights to be entitled to such rights paid the “fair value” of Dissenting Shares, as are granted by provided in Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, the right to receive, without interest thereon, the Public Merger Consideration. (b) The Company shall give Parent (i) prompt notice of all demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection with the Mergers and (ii) the reasonable opportunity to participate in all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharesthe DGCL. The Company shall not, except with the prior written consent of ParentParent which will not be unreasonably withheld or delayed, voluntarily make or agree to make any material payment with respect to any demands for appraisalappraisals of capital stock of the Company, or settle or offer to settle or settle any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandsuch demands.

Appears in 3 contracts

Samples: Merger Agreement (Williams Companies Inc), Merger Agreement (Williams Companies Inc), Merger Agreement (Williams Companies Inc)

Dissenting Shares. (a) It is anticipated that on the record date fixed for purposes of determining the holders of Shares entitled to receive notice of, and to vote at, a meeting to approve this Agreement (or for purposes of determining whether the Merger may be consummated without a shareholder vote under Section 180.1104 of the WBCL), the Shares will continue to be quoted on Nasdaq. Accordingly, holders of Shares will not have dissenters’ rights under Section 180.1302 of the WBCL in connection with the Merger. Notwithstanding the foregoing, Section 2.9(b) and Section 2.9(c) below shall apply in the event that holders of Shares do have dissenters’ rights, whether because the Shares are no longer quoted on Nasdaq on such record date or otherwise. (b) Notwithstanding anything in this Agreement to the contrary, with respect to each share of Company Class A Common Stock Shares that are held by a any record holder who neither has not voted in favor of adoption of to approve this Agreement or consented thereto in writing with respect writing, who is entitled to such share assert dissenters’ rights under Section 180.1302 of the WBCL and for which the holder or Beneficial Owner who has properly and validly perfected its statutory asserted dissenters’ rights of appraisal in respect of such shares in accordance with Section 262 180.1301 et seq. of the DGCL and has not effectively withdrawn or lost its rights to appraisal WBCL (each such share, a the “Dissenting ShareShares), if any, such Dissenting Shares ) shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value Merger Consideration but shall be converted into the right to receive such consideration as may be determined to be due in respect of such Dissenting Shares in accordance with pursuant to the provisions of Section 262 of the DGCLWBCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure Shares who shall have failed to perfect or otherwise) the right shall have withdrawn or lost such shareholder’s dissenters’ rights with respect to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish hisin each case under the WBCL, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right such shareholder’s dissenters’ rights with respect to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter Dissenting Shares shall be deemed to have been converted into and the right to have becomereceive, as of the Effective Time, the Merger Consideration without interest. Notwithstanding anything to the contrary contained in this Section 2.9(b), if the Merger is rescinded or abandoned, then the right of any shareholder to receive, without interest thereon, be paid the Public Merger Considerationfair value of such shareholder’s Dissenting Shares shall cease. The Surviving Corporation shall comply with all of its obligations under the WBCL with respect to holders of Dissenting Shares. (bc) The Company shall give Parent Parent: (i) prompt written notice of all demands for appraisal any notices of intent to demand payment, any withdrawals of such notices received by the Company and any other related instruments served pursuant to the WBCL and received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection with the Mergers ; and (ii) the reasonable opportunity to direct and participate in all Proceedings negotiations and proceedings with respect to demands for appraisal payment under Applicable Law Section 180.1301 et seq. of Delaware in respect of Dissenting Sharesthe WBCL. The Company shall not, except with the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisalappraisal or negotiate, or settle or offer to settle or settle any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandsuch demands.

Appears in 3 contracts

Samples: Merger Agreement (Abc-Mart, Inc.), Merger Agreement (Abc-Mart, Inc.), Merger Agreement (Lacrosse Footwear Inc)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect Shares outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and held by a holder of record who neither voted did not vote in favor of the adoption of this Agreement (or consented consent thereto in writing with respect writing) who is entitled to such share demand and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of demanded appraisal in respect of for such shares Shares in accordance with with, and who complies in all respects with, Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such shareShares, a the “Dissenting ShareShares), if any, such Dissenting Shares shall ) will not be converted into or represent a the right to receive any portion the Merger Consideration, and will instead represent only the right to receive such consideration as may be determined to be due in respect of such Dissenting Shares pursuant to Section 262 of the Public Merger Consideration and DGCL. If any such holders and Beneficial Owner thereof shall be entitled holder fails to such rights as are granted by perfect or otherwise waives, withdraws or loses his, her or its right to appraisal under Section 262 of the DGCL, and at then the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and right of such holder shall cease to have any rights with respect thereto, except the right to receive the fair value such payment in respect of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by will cease and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter will be deemed to have been converted into and to have becomeconverted, as of the Effective Time, into and will be exchangeable solely for the right to receivereceive the Mixed Election Consideration, or other amounts payable pursuant to Section 2.3, without interest thereon, the Public Merger Consideration. (b) interest. The Company shall will give Parent (i) prompt notice of all any demands for appraisal received by the CompanyCompany for appraisal of Shares, attempted withdrawals of such demands, demands and any other instruments served submitted pursuant to Section 262 of the DGCL and received by the Company in connection with relating to rights to be paid the Mergers fair value of Dissenting Shares, and (ii) Parent will have the reasonable opportunity right to participate in control all negotiations and Proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Prior to the Effective Time, the Company shall will not, except with the prior written consent of ParentParent in its sole discretion, voluntarily make any payment with respect to any demands for appraisalto, or settle or compromise or offer to settle or compromise, any demands for paymentsuch demands, in respect or approve any withdrawal of Dissenting Shares. Any portion any such demands, or agree to do any of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandforegoing.

Appears in 3 contracts

Samples: Merger Agreement, Merger Agreement (Ch2m Hill Companies LTD), Merger Agreement (Jacobs Engineering Group Inc /De/)

Dissenting Shares. (a) Notwithstanding anything in this Agreement Section 2.1(b), to the contrary, with respect to each share of Company Class A Common Stock held by a holder who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect to such share and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights extent that holders thereof are entitled to appraisal (each such share, a “Dissenting Share”), if any, such Dissenting Shares shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by under Section 262 of the DGCL, shares of Company Common Stock issued and at outstanding immediately prior to the Effective TimeTime and held by a holder who has properly exercised and perfected his or her demand for appraisal rights under Section 262 of the DGCL (the “Dissenting Shares”), such Dissenting Shares shall no longer not be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except converted into the right to receive the fair value Merger Consideration, but the holders of such Dissenting Shares in accordance with the provisions of shall be entitled to receive such consideration as shall be determined pursuant to Section 262 of the DGCL; provided, however, that (i) if any such holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure shall have failed to perfect or otherwise) the shall have effectively waived, withdrawn or lost his or her right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in and payment under the DGCL (including through entry into an Acceptable Confidentiality Agreement), or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such holder’s shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, Time into the right to receivereceive the Merger Consideration, without any interest thereon, the Public Merger Consideration. (b) The Company and such shares shall give Parent (i) prompt notice of all demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant not be deemed to Section 262 of the DGCL received by the Company in connection with the Mergers and (ii) the reasonable opportunity be Dissenting Shares. Any payments required to participate in all Proceedings be made with respect to demands the Dissenting Shares shall be made by the Surviving Corporation, and the Total Common Merger Consideration shall be reduced, on a dollar for appraisal under Applicable Law dollar basis, as if the holder of Delaware in respect such Dissenting Shares had not been a stockholder on the date of Dissenting Shares. The Company shall not, except with the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisal, or settle or offer to settle any demands for payment, in respect of Dissenting SharesMerger Closing. Any portion of the Public Total Common Merger Consideration made available to the Paying Agent pursuant to Section 3.03 2.2 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall Dissenting Shares will be returned to Parent upon demand. The Company shall give Parent (a) prompt notice of any demands for appraisal or payment of the fair value of any shares of Company Common Stock, attempted withdrawals of such demands and any other instruments served pursuant to applicable Law that are received by the Company relating to stockholders’ rights of appraisal and (b) the opportunity to participate in and direct all negotiations and proceedings with respect to demands for appraisal under Section 262 of the DGCL. Prior to the Effective Time, the Company will not, without the prior written consent of Parent, voluntarily make (or cause or permit to be made on its behalf) any payment with respect to, or settle or offer to settle, any such demands, or agree to do any of the foregoing.

Appears in 3 contracts

Samples: Merger Agreement, Agreement and Plan of Merger (Norcraft Companies, Inc.), Merger Agreement (Fortune Brands Home & Security, Inc.)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect to each share shares of Company Class A Common Stock held outstanding immediately prior to the Effective Time and owned by a holder Company Stockholder who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect is entitled to such share demand and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of demanded appraisal in respect of for such shares in accordance with with, and who complies in all respects with, Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such shareshares, a “Dissenting ShareShares”), if any, such Dissenting Shares shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the Per Share Merger Consideration and shall instead represent the right to receive payment of the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief extent provided by Section 262 of the DGCL. At the Effective Time, (i) all Dissenting Shares shall be cancelled, extinguished and cease to exist and (ii) the holders of Dissenting Shares shall be entitled to only such holder(s) rights as may be granted to him, her or Beneficial Owner(s) (as it under the case may be) shall forfeit the DGCL. If any such Company Stockholder fails to perfect or otherwise waives, withdraws or loses such Company Stockholder’s right to appraisal under Section 262 of the DGCL or other applicable Legal Requirements, then the right of such shares holder to be paid the fair value of Company Class A Common Stock such Dissenting Shares shall cease and such shares of Company Class A Common Stock Dissenting Shares shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have becomeconverted, as of the Effective Time, into and shall be exchangeable solely for the right to receive, without interest thereon, receive the Public Per Share Merger Consideration. (b) Consideration in accordance with this Article I. The Company shall give Parent (i) BRPA prompt notice (and in any event within two (2) Business Days) of all any demands for appraisal received by the CompanyCompany for appraisal of shares of Company Stock, attempted withdrawals of such demands, demands and any other instruments served pursuant to Section 262 of the DGCL and received by the Company in connection with relating to rights to be paid the Mergers fair value of Dissenting Shares, and (ii) BRPA shall have the reasonable opportunity right to participate in and direct all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Prior to the Effective Time, the Company shall not, except with the prior written consent of ParentBRPA, voluntarily make any payment with respect to any demands for appraisalto, or settle or compromise or offer to settle or compromise, any such demands or waive any failure to timely deliver a written demand for payment, in respect of Dissenting Shares. Any portion appraisal or otherwise comply with the provisions under Section 262 of the Public Merger Consideration made available DGCL, or agree or commit to do any of the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandforegoing.

Appears in 3 contracts

Samples: Agreement and Plan of Merger (BRAC Lending Group LLC), Merger Agreement (Big Rock Partners Sponsor, LLC), Merger Agreement (Big Rock Partners Acquisition Corp.)

Dissenting Shares. (a) Notwithstanding anything to the contrary in this Agreement to the contraryAgreement, with respect to each share shares of Company Class A Common Stock which are outstanding immediately prior to the Effective Time and are held by a holder stockholders who neither have not voted in favor of adoption of this Agreement the Merger or consented thereto in writing and who have demanded appraisal rights with respect to such share and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares thereto in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal Delaware Statute (each such share, a “the "Dissenting Share”), if any, such Dissenting Shares Shares") shall not be converted into or represent a be exchangeable for the right to receive any portion shares of the Public Merger Consideration and Parent Common Stock in accordance with Section 2.1(c), but holders of such holders and Beneficial Owner thereof shares shall be entitled to such rights as are granted by Section 262 receive payment of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair appraised value of such Dissenting Shares shares in accordance with the provisions of such Section 262 of the DGCL; provided262, however, except that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted Shares held by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right a stockholder who shall thereafter withdraw such demand for appraisal of such Dissenting Shares, (ii) if any holder shares or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit lose the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock as provided in Section 262 shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have becomebecome exchangeable for, as of at the Effective Time, the right to receiveMerger Consideration, without any interest thereon, the Public Merger Consideration. (b) . The Company shall give Parent (i) prompt notice of all any written demands for appraisal received by the Companyof any shares of Company Class A Common Stock, attempted withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL Delaware Statute received by the Company in connection with the Mergers relating to stockholders' rights of appraisal, and (ii) the reasonable opportunity to participate in direct all Proceedings negotiations and proceedings with respect to demands for appraisal appraisals under Applicable Law of the Delaware in respect of Dissenting SharesStatute. The Company shall not, except with the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisal, or settle or offer to settle any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares appraisals of Company Class A Common Stock for which appraisal rights have been perfected Stock, offer to settle or settle any such demands or approve any withdrawal of any such demands. All payments to holders of Dissenting Shares shall be returned to paid by the Company out of its own funds, and no funds shall be supplied directly or indirectly by Parent upon demandfor that purpose.

Appears in 3 contracts

Samples: Merger Agreement (Ticketmaster), Merger Agreement (Usa Interactive), Merger Agreement (Usa Interactive)

Dissenting Shares. (a) Notwithstanding anything in any provision of this Agreement to the contrary, with respect to each share shares of Company Class A Nova Common Stock that are outstanding immediately prior to the Effective Time and that are held by a holder stockholders who neither shall have not voted in favor of adoption of this Agreement or consented thereto the Merger and who shall have demanded properly in writing with respect to such share and appraisal for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares of Nova Common Stock in accordance with Section 262 of Delaware Law (collectively, the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such share, a “Dissenting ShareShares), if any, such Dissenting Shares ) shall not be converted into into, or represent a the right to receive any receive, the portion of the Public Merger Consideration and payable for such holders and Beneficial Owner thereof shares of Nova Common Stock. Such stockholders shall be entitled to such rights as are granted by Section 262 receive payment of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair appraised value of such Dissenting Shares shares of Nova Common Stock held by them in accordance with the provisions of such Section 262 of the DGCL; provided262, however, except that (i) if any holder or Beneficial Owner of all Dissenting Shares, under the circumstances permitted Shares held by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure stockholders who shall have failed to perfect or otherwise) the right to dissent who effectively shall have withdrawn or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal lost their rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Nova Common Stock and under such shares of Company Class A Common Stock Section 262 shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into into, and to have becomebecome exchangeable for, as of the Effective Time, the right to receivereceive the portion of the Merger Consideration payable for such shares of Nova Common Stock, without any interest thereon, upon surrender, in the Public Merger Considerationmanner provided in Section 1.8, of the certificate or certificates that formerly evidenced such shares of Nova Common Stock (or in the case of a lost, stolen or destroyed certificate, upon delivery of an affidavit, and bond, if required, in the manner provided in Section 1.10). (b) The Company Nova shall give Parent Saturn (i) prompt notice of all any demands for appraisal received by the CompanyNova, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL Delaware Law and received by the Company in connection with the Mergers Nova and (ii) the reasonable opportunity to participate in direct all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting SharesLaw. The Company Nova shall not, except with the prior written consent of ParentSaturn (which consent shall not be unreasonably withheld or delayed), voluntarily or except as may be required by Delaware Law, make any payment with respect to any demands for appraisal, or settle appraisal or offer to settle or settle any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandsuch demands.

Appears in 3 contracts

Samples: Merger Agreement (Scansoft Inc), Merger Agreement (Scansoft Inc), Merger Agreement (Nuance Communications)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect to each share shares of Company Class A Parties Common Stock held outstanding immediately prior to the Effective Time and owned by a holder who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect is entitled to such share demand and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of demanded appraisal in respect of such shares in accordance with, and who complies in all respects with, (i) with respect to VSee, Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such share, a the VSee Dissenting ShareShares”), if anyand (ii) with respect to iDoc, such Section 21.460 of the TBOC, (the “iDoc Dissenting Shares Shares” and together with the VSee Dissenting Shares, the “Dissenting Shares”) shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive Parent Common Stock, and shall instead represent the right to receive payment of the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief extent provided by Section 262 of the DGCLDGCL or Subchapter H, Chapter 10 of the TBOC, as applicable. At the Effective Time, (a) all Dissenting Shares shall be cancelled, extinguished and cease to exist and (b) the holders of Dissenting Shares shall be entitled only to such holder(s) rights as may be granted to them under the DGCL or Beneficial Owner(s) (the TBOC, as the case may be) shall forfeit the applicable. If any such holder fails to perfect or otherwise waives, withdraws or loses such holder’s right to appraisal under Section 262 of the DGCL, Subchapter H, Chapter 10 of the TBOC, or other applicable Law, then the right of such shares holder to be paid the fair value of Company Class A Common Stock such Dissenting Shares shall cease and such shares of Company Class A Common Stock Dissenting Shares shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have becomeconverted, as of the Effective Time, into the right to receive, without interest thereon, receive Parent Common Stock upon the Public Merger Consideration. (b) The terms and conditions set forth in this Agreement applicable to holders that have not properly demanded appraisal rights. A Company Party shall give Parent (i) prompt notice (and in any event within three (3) Business Days) of all any demands received by such Company Party for appraisal received by the Companyof shares of Company Parties Common Stock, attempted withdrawals of such demands, demands and any other instruments served pursuant to Section 262 of the DGCL or the TBOC, as applicable, and received by such Company Party relating to rights to be paid the Company in connection with fair value of Dissenting Shares, and Parent shall have the Mergers and (ii) the reasonable opportunity right to participate in and, following the Effective Time, direct all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Prior to the Effective Time, a Company Party shall not, except with the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisalto, or settle or compromise or offer to settle or compromise, any such demands or waive any failure to timely deliver a written demand for payment, in respect of Dissenting Shares. Any portion appraisal or otherwise comply with the provisions under Section 262 of the Public Merger Consideration made available DGCL, Subchapter H, Chapter 10 of the TBOC, or agree or commit to do any of the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandforegoing.

Appears in 3 contracts

Samples: Business Combination Agreement (Digital Health Acquisition Corp.), Business Combination Agreement (Digital Health Acquisition Corp.), Business Combination Agreement (Digital Health Acquisition Corp.)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect Shares that are issued and outstanding immediately prior to each share of Company Class A Common Stock held by a holder who neither the Effective Time which are not voted in favor of adoption of this Agreement or consented thereto in writing with respect to such share the Merger and for which are held by a Person or Persons who have properly demanded and perfected their rights to be paid the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect fair value of such shares Shares in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such share, a the “Dissenting ShareShares), if any, such Dissenting Shares ) shall not be converted into or represent a the right to receive any portion of the Public Per Share Merger Consideration therefor, and such the holders and Beneficial Owner thereof shall be entitled with respect to such Shares to only such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any such holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure shall fail to perfect or otherwise) the right to dissent shall effectively waive, withdraw or its right for appraisal of lose such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal holder’s rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by under Section 262 of the DGCLDGCL with respect to such Shares, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock Shares shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have becomeconverted, as of at the Effective Time, into the right to receivereceive the Per Share Aggregate Merger Consideration, as set forth in Section 2.1 of this Agreement, without any interest thereon, and such Shares will no longer be Dissenting Shares. The parties agree and acknowledge that no Dissenting Shares shall exist at Closing unless Parent in its sole discretion chooses to waive the Public Merger Considerationclosing condition set forth in Section 7.2(j). (b) The Company shall give Parent (i) prompt notice of all any appraisal demands for appraisal received by the Company, withdrawals of such demands, thereof and any other instruments served pursuant to Section 262 of the DGCL and received by the Company in connection with the Mergers and (ii) the reasonable opportunity to participate in direct all Proceedings negotiations and proceedings with respect to demands for the exercise of appraisal rights under Applicable Law Section 262 of Delaware in the DGCL; provided, that upon compliance with the provisions of Section 9.4 with respect of Dissenting Sharesto Third Party Claims generally, the Stockholders’ Representative may direct such negotiations and proceedings. The Neither the Company shall notnor the Paying Agent shall, except with the prior written consent of ParentParent or as otherwise required by applicable law, voluntarily make any payment with respect to any demands for appraisal, or settle such exercise of appraisal rights or offer to settle or settle any demands for payment, such rights in respect of any Dissenting Shares. Any portion of Share other than for an amount equal to or less than the Public Per Share Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandConsideration.

Appears in 3 contracts

Samples: Merger Agreement (Gordmans Stores, Inc.), Merger Agreement (Gordmans Stores, Inc.), Merger Agreement (Gordmans Stores, Inc.)

Dissenting Shares. (a) Notwithstanding anything in For purposes of this Agreement to Agreement, “Dissenting Shares” means Seller Common Shares held as of the contrary, with respect to each share of Company Class A Common Stock held Effective Time by a holder stockholder of Seller who neither has not voted such Seller Common Shares in favor of the approval and adoption of this Agreement or consented thereto in writing and the Merger and with respect to such share which appraisal shall have been duly demanded and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares in accordance with Section 262 of the DGCL applicable law and has not effectively withdrawn or lost its rights forfeited prior to appraisal (each such share, a “Dissenting Share”), if any, such the Effective Time. Dissenting Shares shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value Merger Consideration, unless such stockholder of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish Seller shall have forfeited his, her or its entitlement right to appraisal rights as provided in the DGCL under applicable law or (iii) if a court of competent jurisdiction shall determine that properly withdrawn, his, her or its demand for appraisal. If such holder dissenting stockholder has so forfeited or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCLwithdrawn his, such holder(s) her or Beneficial Owner(s) (as the case may be) shall forfeit the its right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, then (i) as of the occurrence of such event, such holder’s Dissenting Shares shall cease to be Dissenting Shares and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter shall be deemed to have been converted into and to have become, as of the Effective Time, represent the right to receive, without interest thereon, receive the Public Merger Consideration. (b) Consideration in respect of such Seller Common Shares pursuant to Section 4.1. The Company Seller shall give Parent the Buyer (i) prompt notice of all any written demands for appraisal received by the Companyof any Seller Common Shares, withdrawals of such demands, and any other instruments served pursuant that relate to Section 262 of the DGCL such demands received by the Company in connection with the Mergers Seller and (ii) the reasonable opportunity opportunity, prior to the Effective Time to participate in at its own expense, and after the Effective Time, direct all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharesapplicable law. The Company Seller shall not, except with the prior written consent of Parentthe Buyer (which consent will not be unreasonably withheld), voluntarily make any payment with respect to any demands for appraisal, or settle appraisal of Seller Common Shares or offer to settle or settle any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandsuch demands.

Appears in 3 contracts

Samples: Merger Agreement (Great Hill Partners LLC), Merger Agreement (Ign Entertainment Inc), Merger Agreement (Ign Entertainment Inc)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect to each share any issued and outstanding shares of Company Class A Common Stock held by a holder Person (a “Dissenting Stockholder”) who neither has not voted in favor of or consented to the adoption of this Agreement or consented thereto in writing with respect to such share and for which the holder or Beneficial Owner has properly and validly perfected its statutory dissenter’s rights of appraisal in respect of such shares in accordance with the provisions of Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such shareeach, a “Dissenting Share”), if any, such Dissenting Shares shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of Merger Consideration, but shall become the right to receive such consideration as may be determined to be due to such Dissenting Shares Stockholder to the extent permitted by, and in accordance with the provisions of and pursuant to the procedures of, Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting SharesStockholder, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right such holder’s demand for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares Stockholder fails to establish his, her or its such holder’s entitlement to appraisal dissenters’ rights as provided in the DGCL or (iii) if a court any Dissenting Stockholder takes or fails to take any action the consequence of competent jurisdiction shall determine which is that such holder or Beneficial Owner is not entitled to the relief provided by payment under Section 262 of the DGCLDGCL for such holder’s shares, such holder(s) holder or Beneficial Owner(s) holders (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have becomeconverted, as of the Effective Time, into and represent the right to receivereceive the Merger Consideration (without interest) payable in respect of such shares of Company Common Stock. At the Effective Time, without interest thereonany holder of Dissenting Shares shall cease to have any rights with respect thereto, except the Public Merger Consideration. (b) rights set forth in Section 262 of the DGCL and as provided in the previous sentence. The Company shall give Parent (i) prompt notice of all any demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL received by the Company for appraisal of shares of Company Common Stock, and Parent shall have the right to participate in connection with (and the Mergers and (ii) Company shall provide Parent the reasonable opportunity to participate in in) all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Company shall notnot settle, except make any payments with respect to, or offer to settle, any claim with respect to Dissenting Shares without the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisal, or settle or offer to settle any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demand.

Appears in 3 contracts

Samples: Merger Agreement (Greenfield Online Inc), Merger Agreement (Greenfield Online Inc), Merger Agreement (Microsoft Corp)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrarycontrary (but subject to the provisions of this Section 2.3), Company Shares outstanding immediately prior to the Effective Time (other than Company Shares cancelled in accordance with respect to each share of Company Class A Common Stock Section 2.1(b)) and held by a holder who neither voted did not vote in favor of the adoption of this Agreement or consented thereto in writing with respect Agreement, and who is entitled to such share demand and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of demanded appraisal in respect of for such shares Company Shares in accordance with with, and who complies in all respects with, Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such shareCompany Shares, a the “Dissenting ShareShares), if any, such Dissenting Shares ) shall not be converted into or represent a the right to receive any portion of the Public Per Share Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at Consideration. At the Effective Time, such all Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder the holders of Dissenting Shares shall cease to have any rights with respect thereto, except the rights granted to them under Section 262 of the DGCL (the “Dissenting Stockholder Consideration”). If any such holder fails to perfect or otherwise waives, withdraws or loses his right to receive appraisal under Section 262 of the fair value DGCL or other applicable Law, then the right of such holder to be paid the Dissenting Stockholder Consideration in respect of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by shall cease and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have becomeconverted, as of the Effective Time, into and shall be exchangeable solely for the right to receivereceive the Per Share Merger Consideration, without interest thereon, the Public Merger Consideration. (b) and subject to any withholding of Taxes required by applicable Law in accordance with this Article 2 and shall not thereafter be deemed to be Dissenting Shares. The Company shall give Parent (i) prompt written notice of all any demands for appraisal received by the CompanyCompany for appraisal of Company Shares, withdrawals any waiver or withdrawal of any such demandsdemand, and any other demands, notices or instruments served pursuant to Section 262 of the DGCL and received by the Company in connection with relating to rights to be paid the Mergers Dissenting Stockholder Consideration for such Dissenting Shares, and (ii) Parent shall have the reasonable opportunity and right to participate in and control all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Company shall not, except with the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisalto, or settle or offer compromise, any such demands, or approve any withdrawal of any such demands, or agree to settle do any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available foregoing, except to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandextent required by applicable Law.

Appears in 3 contracts

Samples: Merger Agreement (Eldorado Resorts, Inc.), Merger Agreement (Icahn Enterprises Holdings L.P.), Merger Agreement (Gaming & Leisure Properties, Inc.)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect to each share shares of Company Class A Common Stock or Company Preferred Stock outstanding immediately prior to the Effective Time and held by a holder Company Stockholder who neither has not voted in favor of adoption of this Agreement the Merger or consented thereto in writing with respect to such share or by electronic transmissions and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of demanded appraisal in respect of for such shares in accordance with with, and who complies in all respects with, Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such shareshares, a “Dissenting ShareShares”), if any, such Dissenting Shares shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the Closing Merger Consideration and shall instead represent the right to receive payment of the fair value of such Dissenting Shares in accordance with and to the provisions of extent provided by Section 262 of the DGCL; provided. At the Effective Time, however, that (i) if any holder or Beneficial Owner all Dissenting Shares shall be cancelled, extinguished and cease to exist and (ii) the holders of Dissenting SharesShares shall be entitled to only such rights as may be granted to him, her or it under the circumstances permitted by and in accordance with the DGCL. If any such Company Stockholder fails to perfect or otherwise waives, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the such Company Stockholder’s right to dissent or its right for appraisal under Section 262 of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit then the right to appraisal of such shares holder to be paid the fair value of Company Class A Common Stock such Dissenting Shares under Section 262 of the DGCL shall cease and such shares of Company Class A Common Stock Dissenting Shares shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have becomeconverted, as of the Effective Time, into and shall only represent the right to receive, without interest thereon, receive the Public Closing Merger Consideration. (b) Consideration upon the surrender of such shares in accordance with this Article II. The Company shall give Parent (i) reasonably prompt notice of all any demands for appraisal received by the CompanyCompany for appraisal of shares of Company Common Stock or Company Preferred Stock, attempted withdrawals of such demands, demands and any other instruments served pursuant to Section 262 of the DGCL and received by the Company in connection with relating to rights to be paid the Mergers fair value of Dissenting Shares, and (ii) Parent shall have the reasonable opportunity right to participate in and direct all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Prior to the Effective Time, the Company shall not, except with the prior written consent of ParentParent (such consent not to be unreasonably withheld, voluntarily conditioned or delayed), make any payment with respect to any demands for appraisalto, or settle or compromise or offer to settle or compromise, any such demands or waive any failure to timely deliver a written demand for payment, in respect of Dissenting Shares. Any portion appraisal or otherwise comply with the provisions under Section 262 of the Public Merger Consideration made available DGCL, or agree or commit to do any of the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandforegoing.

Appears in 3 contracts

Samples: Agreement and Plan of Merger (Revolution Medicines, Inc.), Merger Agreement (CM Life Sciences III Inc.), Merger Agreement (CM Life Sciences II Inc.)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect Shares outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and held by a holder who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect is entitled to such share demand and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of demanded appraisal in respect of for such shares Shares in accordance with with, and who complies in all respects with, Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such shareShares, a the “Dissenting ShareShares), if any, such Dissenting Shares ) shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the Merger Consideration, and shall instead represent the right to receive payment of the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief extent provided by Section 262 of the DGCL. If any such holder fails to perfect or otherwise waives, such holder(s) withdraws or Beneficial Owner(s) (as the case may be) shall forfeit the loses his right to appraisal under Section 262 of the DGCL or other applicable Law, then the right of such shares holder to be paid the fair value of Company Class A Common Stock such Dissenting Shares shall cease and such shares of Company Class A Common Stock Dissenting Shares shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have becomeconverted, as of the Effective Time, into and shall be exchangeable solely for the right to receivereceive the Merger Consideration, without interest thereon, the Public Merger Consideration. (b) interest. The Company shall give Parent (i) prompt notice of all any demands for appraisal received by the CompanyCompany for appraisal of Shares, attempted withdrawals of such demands, demands and any other instruments served pursuant to Section 262 of the DGCL and received by the Company in connection with relating to rights to be paid the Mergers fair value of Dissenting Shares, and (ii) Parent shall have the reasonable opportunity right to participate in all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Prior to the Effective Time, the Company shall not, except with the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisalto, or settle or compromise or offer to settle or compromise, any demands for paymentsuch demands, or approve any withdrawal of any such demands, or agree to do any of the foregoing. The parties hereby agree and acknowledge that in any appraisal proceeding with respect to the Dissenting Shares and to the fullest extent permitted by applicable Law in any appraisal proceeding under Section 262 of the DGCL with respect to Dissenting Shares. Any portion , the Surviving Company shall not assert that the exercise of the Public Merger Consideration made available Top-Up Option, any issuance of the Top-Up Option Shares or any delivery by the Purchaser of the Promissory Note to the Paying Agent pursuant to Company in payment for the Top-Up Option Shares should be considered in connection with a determination of the fair value of the Dissenting Shares in accordance with Section 3.03 to pay for shares 262(h) of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandthe DGCL.

Appears in 3 contracts

Samples: Merger Agreement, Merger Agreement (Allergan Inc), Merger Agreement (MAP Pharmaceuticals, Inc.)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect and to each share of Company Class A Common Stock held by the extent available under the BVI Act, if a holder who neither voted of Shares properly demands in favor writing, and does not withdraw or lose its dissenters’ rights for such Shares in accordance with Section 179 of adoption the BVI Act (the “Dissenting Shares”) and otherwise complies with all provisions of this Agreement the BVI Act relevant to the exercise and perfection of dissenters’ rights, (i) if such demand occurs before the Effective Time, the Dissenting Shares will automatically convert at the Effective Time into a right to receive an amount for such Dissenting Shares calculated in accordance with Section 179 of the BVI Act (the “Dissenter Consideration”), and (ii) if such demand occurs at or consented thereto in writing with respect after the Effective Time, any right to such share and for which receive the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal Merger Consideration in respect of such shares in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such share, a “Dissenting Share”), if any, such Dissenting Shares shall not be converted will immediately and automatically convert into or represent a the right to receive any portion the Dissenter Consideration. For the avoidance of the Public Merger Consideration doubt, from and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at after the Effective Time, such the Dissenting Shares shall no longer be outstanding and shall will automatically be cancelled and shall will cease to exist, exist or be outstanding and each shareholder who has properly exercised such holder shall dissenters’ rights will cease to be a member of the Company (and will not be a member of the Surviving Company) and will not have any rights of a shareholder of the Company or the Surviving Company with respect theretoto the Dissenting Shares (including any right to receive such holder’s portion of the Merger Consideration), except the right to receive payment of the fair value of such the Dissenting Shares held by such holder as determined in accordance with the provisions of Section 262 179 of the DGCL; providedBVI Act, howeverunless, that (i) if any after the Effective Time, such holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure fails to perfect or otherwise) the right to dissent withdraws or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish otherwise loses his, her or its entitlement right to appraisal rights as provided dissent, in which case the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit Dissenting Shares will be converted into and represent only the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to receive the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, the right to receiveMerger Consideration, without interest thereon, upon surrender of the Public Merger ConsiderationCertificates or Book-Entry Shares, in accordance with Section 2.2. (b) The Company shall will give Parent (i) prompt written notice of all any objection, notice of dissent or written demands for appraisal received by to exercise dissent rights under Section 179 of the CompanyBVI Act (including copies of such objections, notices or demands), attempted withdrawals of such demandsobjections, notices or demands and any other instruments served pursuant to Section 262 of the DGCL communications received by the Company in connection with the Mergers relating to rights of dissent and (ii) the reasonable opportunity to participate in all negotiations and Proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharesany dissent rights. The Company shall not, except Except with the prior written consent of Parent, the Company will not voluntarily make any payment with respect to any demands for appraisal, dissent or settle or offer to settle any such demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demanddissent.

Appears in 3 contracts

Samples: Merger Agreement (Biohaven Research Ltd.), Merger Agreement (Biohaven Research Ltd.), Merger Agreement (Biohaven Pharmaceutical Holding Co Ltd.)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect to each share of Company Class A Common Stock held by a holder who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect as to such share and for which the holder or Beneficial Owner has thereof shall have properly and validly perfected its statutory rights complied with the provisions of appraisal in respect of such shares in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights as to appraisal rights (each such shareeach, a “Dissenting Share”), if any, such Dissenting Shares shall share will not be converted into into, or represent a the right to receive any portion of receive, the Public Merger Consideration and such holders and Beneficial Owner thereof Consideration. Such holder shall be entitled to such rights as are granted by Section 262 payment, solely from the Surviving Corporation, of the DGCL, and at appraisal value of the Effective Time, such Dissenting Shares shall no longer be outstanding to the extent permitted by and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right his demand for appraisal of such Dissenting SharesShares or lost his right to appraisal and payment for his shares of Company Common Stock under Section 262 of the DGCL, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its his entitlement to appraisal rights as provided in the DGCL or (iii) if a court any holder of competent jurisdiction shall determine Dissenting Shares takes or fails to take any action the consequence of which is that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of payment for his shares under the DGCL, such holder(s) holder or Beneficial Owner(s) holders (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock Stock, and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, shall thereafter be deemed to have been converted into and to have become, as of the Effective Time, the right to receive, without interest thereon, the Public Merger Consideration. (b) . The Company shall give Parent (i) prompt notice of all any demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection with for appraisal of shares of Company Common Stock, and Parent shall have the Mergers and (ii) the reasonable opportunity right to participate in all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Company shall notnot settle, except make any payments with respect to, or offer to settle, any claim with respect to Dissenting Shares without the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisal, or settle or offer to settle any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demand.

Appears in 3 contracts

Samples: Agreement and Plan of Merger (KCS Energy Inc), Agreement and Plan of Merger (Petrohawk Energy Corp), Merger Agreement (Petrohawk Energy Corp)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect Shares outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and held by a holder who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect is entitled to such share demand and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of demanded appraisal in respect of for such shares Shares in accordance with with, and who complies in all respects with, Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such shareShares, a the “Dissenting ShareShares), if any, such Dissenting Shares ) shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the Merger Consideration, and shall instead represent the right to receive payment of the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief extent provided by Section 262 of the DGCL. If any such holder fails to perfect or otherwise waives, such holder(s) withdraws or Beneficial Owner(s) (as the case may be) shall forfeit the loses his right to appraisal under Section 262 of the DGCL or other applicable Law, then the right of such shares holder to be paid the fair value of Company Class A Common Stock such Dissenting Shares shall cease and such shares of Company Class A Common Stock Dissenting Shares shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have becomeconverted, as of the Effective Time, into and shall be exchangeable solely for the right to receivereceive the Merger Consideration, without interest thereon, the Public Merger Consideration. (b) interest. The Company shall give Parent (i) prompt notice of all any demands for appraisal received by the CompanyCompany for appraisal of Shares, attempted withdrawals of such demands, demands and any other instruments served pursuant to Section 262 of the DGCL and received by the Company in connection with relating to rights to be paid the Mergers fair value of Dissenting Shares, and (ii) Parent shall have the reasonable opportunity right to participate in all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Prior to the Effective Time, the Company shall not, except with the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisalto, or settle or compromise or offer to settle or compromise, any demands for paymentsuch demands, in respect or approve any withdrawal of Dissenting Shares. Any portion any such demands, or agree to do any of the Public Merger Consideration made available foregoing. The parties hereby agree and acknowledge that in any appraisal proceeding with respect to the Paying Agent pursuant Dissenting Shares and to the fullest extent permitted by applicable Law, the Surviving Company shall not assert that the exercise of the Top-Up Option, any issuance of the Top-Up Option Shares or any delivery by the Purchaser of the Promissory Note to the Company in payment for the Top-Up Option Shares should be considered in connection with a determination of the fair value of the Dissenting Shares in accordance with Section 3.03 to pay for shares 262(h) of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandthe DGCL.

Appears in 2 contracts

Samples: Merger Agreement (Complete Genomics Inc), Merger Agreement (Complete Genomics Inc)

Dissenting Shares. (a) Notwithstanding anything in any other provision of this Agreement to the contrary, with respect to each share shares of Company Class A ATC Common Stock that are outstanding immediately prior to the Effective Time and which are held by a holder ATC stockholders who neither shall have not voted in favor of adoption of this Agreement the Merger or consented thereto in writing with respect and who shall be entitled to such share and shall have demanded properly in writing appraisal rights for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares of ATC Common Stock in accordance with Section 262 of the DGCL DCL and has who shall not effectively have withdrawn such demand or lost its otherwise have forfeited appraisal rights to appraisal (each such sharecollectively, a “the "Dissenting Share”Shares"), if any, such Dissenting Shares shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair Merger Consideration payable in respect of each share of ATC Common Stock represented thereby. Such ATC stockholders shall be entitled to receive payment of the appraised value of such Dissenting Shares shares of ATC Common Stock held by them in accordance with the provisions of Section 262 of the DGCLDCL; provided, however, that (i) if any holder or Beneficial Owner of all Dissenting Shares, under the circumstances permitted Shares held by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure ATC stockholders who shall have failed to perfect or otherwise) the right to dissent who effectively shall have withdrawn, forfeited or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to lost their appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled with respect to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A ATC Common Stock and such shares of Company Class A Common Stock under the DCL shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have becomebecome exchangeable for, as of the Effective Time, the right to receive, without any interest thereon, the Public Merger ConsiderationConsideration upon surrender, in the manner provided in Section 3.2, of the Certificates with respect to such shares. (b) The Company ATC shall give Parent (i) ATS prompt notice of all any demands for appraisal rights received by the Companyit, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL DCL and received by ATC and relating thereto. ATC shall give ATS the Company in connection with the Mergers and (ii) the reasonable opportunity to participate in direct all Proceedings negotiations and proceedings with respect to demands for appraisal rights under Applicable Law the provisions of Delaware in respect of Dissenting Sharesthe DCL. The Company ATC shall not, except with the prior written consent of ParentATS, voluntarily make any payment with respect to any demands for appraisalappraisal rights, or settle or offer to settle settle, or settle, any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandsuch demands.

Appears in 2 contracts

Samples: Merger Agreement (American Tower Systems Corp), Merger Agreement (American Radio Systems Corp /Ma/)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect to each share of Company Class A Common Stock held by a holder who neither has not voted in favor of adoption of this Agreement or consented thereto in writing with respect to such share and for which the holder or Beneficial Owner who is entitled to demand and has properly and validly perfected its statutory rights of demanded appraisal in respect of such shares share in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal with respect to such share (each such share, a “Dissenting Share”), if any, such Dissenting Shares shall not be converted into or represent a right to receive any portion of the Public Merger Consideration pursuant to ‎‎Section 3.01 and such the holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, . Each holder of Dissenting Shares who becomes entitled to payment for such Dissenting Shares pursuant to Section 262 of the DGCL shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except receive payment therefor from the right to receive the fair value of such Dissenting Shares Surviving Corporation in accordance with the provisions of Section 262 of the DGCL; provided, however, that if (ia) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (iib) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iiic) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, then such holder(s) holder or Beneficial Owner(s) holders (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting SharesShares for purposes of this Agreement, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been automatically converted into and to have becomeinto, as of the Effective Time, the right to receive, without interest thereon, the Public Merger Consideration. (b) . The Company shall will give Parent (i) prompt written notice of all written demands for appraisal received by the CompanyCompany for appraisal of any shares of Company Common Stock, withdrawals or attempted withdrawals of such demands, demands and any other instruments instruments, notices or demands served pursuant to Section 262 of the DGCL received by DGCL. Prior to the Company in connection with Effective Time, the Mergers and (ii) the reasonable opportunity to participate in all Proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Shares. The Company shall not, except with without the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisalto, or settle or offer to settle settle, any such demands, waive any failure to timely deliver a written demand for appraisal under the DGCL, approve any withdrawal of any such demands for payment, in respect of Dissenting Shares. Any portion or propose or otherwise agree to do any of the Public Merger Consideration made available foregoing. Parent shall have the right to the Paying Agent pursuant participate in and direct all negotiations and proceedings with respect to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandsuch demands.

Appears in 2 contracts

Samples: Merger Agreement (Doma Holdings, Inc.), Merger Agreement (Doma Holdings, Inc.)

Dissenting Shares. (a) Notwithstanding anything to the contrary set forth in this Agreement Agreement, no shares of Company Common Stock issued and outstanding immediately prior to the contrary, with respect to each share of Company Class A Common Stock held by a holder who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect to such share Effective Time and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares which appraisal rights shall have been perfected in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal in connection with the Merger (each such sharecollectively, a “Dissenting ShareShares), if any, such Dissenting Shares ) shall not be converted into or represent a right to receive any that portion of the Public Merger Consideration and otherwise payable to the holder of such holders and Beneficial Owner thereof Dissenting Shares as provided in Section 2.1(a), but shall instead be entitled converted into the right to receive such consideration as may be determined to be due with respect to such rights as are granted by Section 262 Dissenting Shares pursuant to the DGCL. Each holder of Dissenting Shares who, pursuant to the provisions of the DGCL, and at becomes entitled to payment of the Effective Time, fair value of such shares shall receive payment therefor in accordance with the DGCL (but only after the value therefor shall have been agreed upon or finally determined pursuant to the DGCL). In the event that any holder of Company Common Stock fails to make an effective demand for payment or fails to perfect its appraisal rights as to its shares of Company Common Stock or any Dissenting Shares shall no longer otherwise lose their status as Dissenting Shares, then any such shares shall be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except converted into the right to receive the fair value Merger Consideration issuable pursuant to Section 2.1(a) in respect of such shares as if such shares had never been Dissenting Shares Shares, in accordance with and following the provisions of Section 262 satisfaction of the DGCL; provided, however, that applicable requirements and conditions set forth in Section 2.2. The Company shall give Parent prompt notice (and in no event more than two Business Days) of (i) if any demand received by the Company for appraisal of Company Common Stock (and shall give Parent the opportunity to participate in all negotiations and proceedings with respect to any such demand) or (ii) any notice of exercise by any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and Company Common Stock of appraisal rights in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, the right to receive, without interest thereon, the Public Merger Consideration. (b) The Company shall give Parent (i) prompt notice of all demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection with the Mergers and (ii) the reasonable opportunity to participate in all Proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Shares. The Company shall notagrees that, except with the Parent’s prior written consent of Parentconsent, it shall not voluntarily make any payment or offer to make any payment with respect to any demands for appraisalto, or settle or offer to settle settle, any demands such demand for payment, in respect appraisal or exercise of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandrights.

Appears in 2 contracts

Samples: Merger Agreement (Interclick, Inc.), Merger Agreement (Yahoo Inc)

Dissenting Shares. (a) Notwithstanding anything in this Agreement Any holder of shares of Company Stock issued and outstanding immediately prior to the contrary, Effective Time with respect to each share which dissenters’ rights, if any, are available by reason of Company Class A Common Stock held by a holder the Merger pursuant to the applicable provisions of the DGCL who neither has not voted in favor of adoption of this Agreement the Merger or consented thereto in writing and who complies with respect to such share and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares in accordance with Section 262 applicable provisions of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such share, a “Dissenting ShareShares), if any, such Dissenting Shares ) shall not be converted into or represent a right entitled to receive any portion of the Public Merger Consideration and pursuant to this Article I, unless such holders and Beneficial Owner thereof holder fails to perfect, effectively withdraws or loses its dissenters’ rights under the DGCL. Such holder shall be entitled to receive only such rights as are granted by Section 262 under the applicable provisions of the DGCL. If any such holder fails to perfect, and at effectively withdraws or loses such dissenters’ rights under the Effective TimeDGCL, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, Time into the right to receivereceive the Merger Consideration to which such shares of Company Stock are entitled pursuant to this Article I, without interest thereon, the Public Merger Consideration. (b) interest. The Company shall give Parent (i) prompt notice of all any demands for appraisal pursuant to the applicable provisions of the DGCL received by the Company, withdrawals of any such demands, demands and any other documents or instruments served pursuant to Section 262 of the DGCL received by the Company in connection with therewith. Parent shall have the Mergers and (ii) the reasonable opportunity right to participate in and direct all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharesany such demands. The Company shall not, except with the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisalto, or settle or offer to settle settle, any demands for paymentsuch demands, in respect or agree to do any of Dissenting Sharesthe foregoing. Any portion of payments made with respect to Dissenting Shares shall be made solely by the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights Surviving Corporation, and no funds or other property have been perfected or shall be returned to Parent upon demandprovided by Parent, Merger Sub or any of Parent’s Affiliates for such payment.

Appears in 2 contracts

Samples: Merger Agreement (Veeco Instruments Inc), Merger Agreement (Veeco Instruments Inc)

Dissenting Shares. (a) Notwithstanding anything in any provision of this Agreement to the contrary, with respect to each share shares of Company Class A Common Stock that are outstanding immediately prior to the Effective Time and held by a holder Stockholders who neither shall not have voted in favor of adoption of this Agreement the Merger or consented thereto in writing with respect and who are entitled to such share demand and shall have demanded properly in writing appraisal for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares in accordance accordance, and who comply in all respect with Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such sharecollectively, a the “Dissenting ShareShares), if any, such Dissenting Shares ) shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the Merger Consideration set forth in Section 2.01. Such Stockholders shall be entitled to receive only the fair value of such Dissenting Shares shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by unless and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure until such Stockholders shall have failed to perfect or otherwise) the right who effectively shall have withdrawn or lost their rights to dissent or its right for appraisal of such Dissenting Shares, (ii) if shares under Section 262 of the DGCL. If any holder or Beneficial Owner of Dissenting Shares fails shall have failed to establish perfect or shall have withdrawn or lost his, her her, or its entitlement rights to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by shares under Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have becomebecome exchangeable for, as of the Effective Time, the right to receivereceive the Merger Consideration specified in Section 2.01, without any interest thereon, upon surrender, in the Public manner provided in Section 2.03, of the Certificate or Certificates that formerly evidenced such Dissenting Shares and the Surviving Corporation and Parent shall remain liable for the payment of the Merger ConsiderationConsideration for such shares of Company Common Stock. At the Effective Time, any holder of Dissenting Shares shall cease to have any rights with respect thereto except the rights provided in Section 262 of the DGCL as described in this Section 2.05. (b) The Company shall give Parent (i) prompt notice of all any demands for appraisal received by the Company, withdrawals of such demands, demands and any other instruments served pursuant to Section 262 of the DGCL and received by the Company in connection with the Mergers and (ii) the reasonable opportunity to participate in direct all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharesthe DGCL. The Company shall not, except with the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisal, or settle appraisal or offer to settle or settle any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandsuch demands.

Appears in 2 contracts

Samples: Merger Agreement (Viking Holdings LLC), Merger Agreement (Virtual Radiologic CORP)

Dissenting Shares. (a) Notwithstanding anything in this Agreement Shares of Company Common Stock that are issued and outstanding immediately prior to the contrary, with respect to each share of Company Class A Common Stock Effective Time and which are held by a holder holders who neither have not voted in favor of adoption of this Agreement or consented thereto in writing with respect to such share the Merger and for which who are entitled to demand and have properly demanded their rights to be paid the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect fair value of such shares of Company Common Stock in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such share, a the “Dissenting ShareShares), if any, such Dissenting Shares ) shall not be cancelled and converted into or represent a the right to receive any portion of the Public Merger Consideration Consideration, and such the holders and Beneficial Owner thereof shall be entitled to only such rights as are granted by Section 262 of the DGCL, and at the Effective Time, . If any such Dissenting Shares stockholder shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure failed to perfect or otherwise) shall have effectively withdrawn, waived or lost such right prior to the right to dissent or its right for appraisal Election Deadline (as defined in Section 3.1), each of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such holder’s shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease be deemed to constitute be Non-Election Shares for all purposes of this Agreement, unless such stockholder shall thereafter otherwise make a timely election under this Agreement. If any holder of Dissenting SharesShares shall have so failed to perfect or effectively withdrawn or lost such stockholders’ right to dissent from the Merger after the Election Deadline, and each of such share holder’s shares of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter shall thereupon be deemed to have been converted into and to have become, as of the Effective Time, the right to receive, without interest thereon, receive the Public Merger Considerationconsideration received with respect to Non-Election Shares. (b) The Company shall give Parent Acquiror (i) prompt notice of all demands for appraisal any notice received by the CompanyCompany of intent to demand the fair value of any shares of Company Common Stock, withdrawals of such demands, notices and any other instruments or notices served pursuant to Section 262 of the DGCL received by the Company in connection with the Mergers and (ii) the reasonable opportunity to participate in and direct all Proceedings negotiations and proceedings with respect to demands for the exercise of appraisal rights under Applicable Law Section 262 of Delaware in respect of Dissenting Sharesthe DGCL. The Company shall not, except with the prior written consent of ParentAcquiror, voluntarily (A) make any payment or other commitment with respect to any demands for appraisalsuch exercise of appraisal rights, or settle or (B) offer to settle or settle any demands such rights or (C) waive any failure to timely deliver a written demand for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available appraisal or timely take any other action to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which perfect appraisal rights have been perfected shall be returned to Parent upon demandin accordance with the DGCL.

Appears in 2 contracts

Samples: Merger Agreement (People's United Financial, Inc.), Merger Agreement (Danvers Bancorp, Inc.)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect to each No outstanding share of Company Class A Seller Common Stock held by a as to which the holder who neither voted in favor of has exercised dissenters rights under the DGCL and did not vote for the adoption of this Agreement or consented thereto in writing with respect to such share and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such share, a “Dissenting Share”), if any, such Dissenting Shares Parent Merger Documents shall not be converted into or represent a right to receive any portion of the Public Merger Consideration Consideration, and such holders and Beneficial Owner the holder thereof shall be entitled only to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, . Seller shall give Acquiror prompt notice upon receipt by Seller of any such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive written demands for payment of the fair value of such Dissenting Shares in accordance with the provisions of Section 262 shares of the DGCL; providedSeller Common Stock and of withdrawals of such demands and any other instruments provided pursuant to the DGCL (any stockholder duly making such demand being hereinafter called a “Dissenting Stockholder”). Acquiror shall direct all negotiations and proceedings with respect to any such demands or notices. Seller shall not, howeverwithout the prior written consent of Acquiror, that (i) if make any holder payment with respect to, or Beneficial Owner of settle, offer to settle or otherwise negotiate, any such demands. If any Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and Stockholder shall effectively withdraws withdraw or loses lose (through failure to perfect or otherwise) the his right to dissent such payment at or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails prior to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, such holder’s shares of the Seller Common Stock shall be automatically converted into a right to receive the Merger Consideration in accordance with the applicable provisions of this Agreement, without any interest thereon, as if such holder had made a Combination Election. If such holder shall effectively withdraw or lose (through failure to perfect or otherwise) his right to such payment after the Effective Time, each share of the Seller Common Stock of such holder shall be automatically converted, on a share-by-share basis, into the right to receivereceive the Merger Consideration, without any interest thereon, the Public Merger Considerationas if such holder had made a Combination Election. (b) The Company shall give Parent (i) prompt notice of all demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection with the Mergers and (ii) the reasonable opportunity to participate in all Proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Shares. The Company shall not, except with the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisal, or settle or offer to settle any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demand.

Appears in 2 contracts

Samples: Merger Agreement (Peoples Holding Co), Merger Agreement (Heritage Financial Holding)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect but only to each share the extent required by the DGCL, shares of Company Class A Common Stock that are issued and outstanding immediately prior to the Effective Time and are held by a holder Shareholders who neither voted in favor of adoption of this Agreement or consented thereto in writing comply with respect to such share and for which all the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares in accordance with Section 262 provisions of the DGCL concerning the right of Shareholders to dissent from the Merger and has not effectively withdrawn or lost its rights to require appraisal of their shares of Common Stock (each such share, a “"Dissenting Share”), if any, such Dissenting Shares Shareholders") shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of Merger Consideration but shall become the right to receive such consideration as may be determined to be due such Dissenting Shares in accordance with Shareholder pursuant to the provisions of Section 262 law of the DGCLState of Delaware; provided, however, that (i) if any holder Dissenting Shareholder shall subsequently deliver a written withdrawal of his or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance her demand for appraisal (with the DGCLwritten approval of the Surviving Corporation, affirmatively and effectively withdraws if such withdrawal is not tendered within 60 days after the Effective Time), or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares Shareholder fails to establish his, and perfect his or her or its entitlement to appraisal rights as provided in the DGCL by applicable law, or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 within 120 days of the DGCLEffective Time neither any Dissenting Shareholder nor the Surviving Corporation has filed a petition demanding a determination of the value of all shares of Common Stock outstanding at the Effective Time and held by Dissenting Shareholders in accordance with applicable law, then such holder(s) Dissenting Shareholder or Beneficial Owner(s) (Shareholders, as the case may be) , shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and the right to have becomereceive, as of the Effective Time, the right to receiveMerger Consideration, without interest thereon, the Public Merger Consideration. (b) interest. The Company shall give Parent (i) the Parent, Acquisition and the Shareholders' Representative prompt notice of all any written demands for appraisal, withdrawals of demands for appraisal and any other related instruments received by the Company, withdrawals of such demandsand shall give the Shareholders' Representative, and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection after consultation with the Mergers and (ii) Parent, the reasonable opportunity to participate in direct all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharesappraisal. The Company shall not, except with the prior written consent of Parent, will not voluntarily make any payment with respect to any demands for appraisalappraisal and will not, or except with the prior written consent of the Parent and the Shareholders' Representative, settle or offer to settle any demands demand for paymentan amount in excess of the sum described in the next succeeding paragraph of this Section 2.12. If at the conclusion of the appraisal procedure set forth in Section 262 of the DGCL, the Surviving Corporation is ordered to make any payment in respect of Dissenting Shares. Any portion any of the Public shares of Common Stock of any Dissenting Shareholder in an amount in excess of the product of (A) the number of any such shares of any such Dissenting Stockholder and (B) the per share Merger Consideration made available Consideration, then, upon the making of any such payment, the Surviving Corporation shall be entitled to be repaid out of the Escrow Account the amount of such payment, together with the fees, costs and expenses suffered or reasonably incurred by the Surviving Corporation, including, without limitation, any costs taxed to it by the court in such proceedings, relating to the Paying Agent pursuant to Section 3.03 to pay demand for shares and the implementation and conduct of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandsuch proceedings.

Appears in 2 contracts

Samples: Merger Agreement (Specialty Paperboard Inc), Merger Agreement (Arcon Coating Mills Inc)

Dissenting Shares. (a) Notwithstanding anything in any other provisions of this Agreement to the contrarycontrary other than Section 2.10(b), with respect to each share any shares of Company Class A Common Stock held by a holder who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect to such share has demanded and perfected dissenters’ rights for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares in accordance with the provisions of Section 262 23B.13 of Washington Law and who, as of the DGCL and Effective Time, has not effectively withdrawn or lost its such dissenters’ rights to appraisal (each such sharecollectively, a the “Dissenting ShareShares”), if any, such Dissenting Shares shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof applicable consideration for Company Common Stock set forth in Section 2.1, but instead shall be entitled converted into the right to receive only such consideration as may be determined to be due with respect to such rights as are granted by Section 262 of the DGCL, Dissenting Shares under Washington Law. From and at after the Effective Time, such a holder of Dissenting Shares shall no longer not be outstanding and shall automatically be cancelled and shall cease entitled to exist, and such holder shall cease to have exercise any of the voting rights with respect thereto, except or other rights of a stockholder of the right to receive Surviving Corporation nor of a stockholder of the fair value of such Dissenting Shares in accordance with Parent. (b) Notwithstanding the provisions of Section 262 of the DGCL; provided2.10(a), however, that (i) if any holder of shares of Company Common Stock who demands dissenters’ rights for such shares under Washington Law shall effectively withdraw or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses lose (through failure to perfect or otherwise) the right to dissent or its right for appraisal of with respect to such Dissenting Sharesshares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have becomethen, as of the later of the Effective TimeTime and the occurrence of such event, such holder’s shares shall no longer be Dissenting Shares and shall automatically be converted into and represent only the right to receivereceive the consideration for Company Common Stock, as applicable, set forth in Section 2.1, without interest thereon, upon surrender of the Public Merger Considerationcertificate representing such shares. (bc) The Company shall give Parent (i) prompt notice of all any written demands for appraisal received by the Companydissenters’ rights of any shares of Company Common Stock, withdrawals of such demands, demands and any other instruments served pursuant to Section 262 of the DGCL Washington Law and received by the Company in connection with the Mergers which relate to any such demand for dissenters’ rights and (ii) the reasonable opportunity to participate in all Proceedings negotiations and proceedings which take place prior to the Effective Time with respect to demands for appraisal dissenters’ rights under Applicable Law of Delaware in respect of Dissenting SharesWashington Law. The Company shall not, except with the prior written consent of Parent, voluntarily make any payment with respect to any such demands for appraisal, or settle or offer to settle or settle any demands for payment, in respect of Dissenting Sharessuch demands. Any portion of communication to be made by the Public Merger Consideration made available Company to the Paying Agent pursuant to Section 3.03 to pay for shares any holder of Company Class A Common Stock for which appraisal rights have been perfected with respect to such demands shall be returned to Parent upon demandprepared in advance in cooperation with Parent.

Appears in 2 contracts

Samples: Merger Agreement (Quantum Corp /De/), Merger Agreement (Advanced Digital Information Corp)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect Shares that are issued and outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and that are held by a holder stockholders who neither voted are entitled to demand and are properly demanding appraisal rights pursuant to, and who are complying in favor all respects with, the provisions of adoption Section 262 of this Agreement the Corporation Law (the “Dissenting Shares”) shall not be converted into or consented thereto in writing with respect be exchangeable for the right to receive the Merger Consideration, but shall be converted into the right to receive such share consideration as may be determined to be due to the holders of Dissenting Shares pursuant to Section 262 of the Corporation Law, unless and for which until such holders shall have failed to perfect or shall have effectively withdrawn or lost their rights to appraisal under Section 262 of the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares Corporation Law. (b) Dissenting Shares shall be treated in accordance with Section 262 of the DGCL and has not Corporation Law. If any such holder shall have failed to perfect or shall have effectively withdrawn or lost its rights such right to appraisal (each such share, a “Dissenting Share”), if anyappraisal, such Dissenting holder’s Shares shall not thereupon be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right become exchangeable only for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, the right to receive, as of the later of the Effective Time and the time that such right to appraisal shall have been irrevocably lost, withdrawn or expired, the Merger Consideration, without any interest thereon, the Public Merger Consideration. (b) . The Company shall give Parent and Merger Sub (i) prompt notice of all any written demands for appraisal received by the Companyof any Shares (or written threats thereof), withdrawals of such demands, demands and any other instruments served pursuant to Section 262 of the DGCL Corporation Law and received by the Company in connection with relating to rights to be paid the Mergers “fair value” of Dissenting Shares, and (ii) the reasonable opportunity right to participate in and direct all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharesthe Corporation Law. The Company shall not, except with the prior written consent of Parent, voluntarily make or agree to make any payment with respect to any demands for appraisalappraisals of capital stock of the Company, or settle or offer to settle or settle any demands for paymentsuch demands, in respect approve any withdrawal of Dissenting Shares. Any portion any such demands, or agree to do any of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandforegoing.

Appears in 2 contracts

Samples: Merger Agreement (Zeneca, Inc.), Merger Agreement (ZS Pharma, Inc.)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect to each share of Company Class A Common Stock held by a as to which the holder who thereof has neither voted in favor of adoption of this Agreement or the Merger nor consented thereto in writing with respect to such share and who shall have delivered a written demand for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares in accordance with Section 262 of the manner provided by the DGCL and has who, as of the Effective Time, shall not have effectively withdrawn or lost its rights such right to appraisal (each such shareeach, a “Dissenting Share”), if any, such Dissenting Shares shall share will not be converted into into, or represent a the right to receive any portion of receive, the Public Merger Consideration and such holders and Beneficial Owner thereof Consideration. Such holder shall be entitled to such rights as are granted by Section 262 payment, solely from the Surviving Company, of the DGCL, and at appraised value of the Effective Time, such Dissenting Shares shall no longer be outstanding held by them to the extent permitted by and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and shall have effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right withdrawn his demand for appraisal of such Dissenting SharesShares or lost his right to appraisal and payment for his shares of Company Common Stock under Section 262 of DGCL, (ii) if any holder or Beneficial Owner of Dissenting Shares fails shall have failed to establish his, her or its his entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, or (iii) if any holder of Dissenting Shares takes or fails to take any action the consequence of which is that such holder(s) holder is not entitled to payment for his shares under the DGCL, such holder or Beneficial Owner(s) holders (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each of such share holders’ shares of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter shall be deemed to have been converted solely into and to have become, as of the Effective Time, the right to receive, without interest thereon, receive the Public Merger Consideration. (b) . The Company shall give Parent (i) Cal Dive prompt notice of all any demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection with for appraisal of shares of Company Common Stock, and Cal Dive shall have the Mergers and (ii) the reasonable opportunity right to participate in all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Company shall notnot settle, except make any payments with respect to, or offer to settle any claim with respect to Dissenting Shares without the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisal, or settle or offer to settle any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandCal Dive.

Appears in 2 contracts

Samples: Merger Agreement (Cal Dive International, Inc.), Merger Agreement (Horizon Offshore Inc)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect to each share of Company Class A Common Stock any Shares which are held by a holder shareholder who neither voted did not vote in favor of adoption of this Agreement the Merger (or consented consent thereto in writing with respect writing) and who is entitled to such share demand and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of demands appraisal in respect of such shares Shares (the “Dissenting Shares”) pursuant to, and who complies in accordance with all respects with, the provisions of Section 262 351.455 of the DGCL and has not effectively withdrawn or lost its rights to appraisal MGBCL (each such share, a the “Dissenting ShareShareholders”), if any, such Dissenting Shares shall not be converted into or represent a be exchangeable for the right to receive any portion of the Public applicable Merger Consideration and Consideration, but instead such holders and Beneficial Owner thereof holder shall be entitled only to such rights as are granted by accorded under Section 262 351.455 of the DGCL, MGBCL (and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled canceled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares rights set forth in accordance with the provisions of Section 262 351.455 of the DGCL; providedMGBCL), however, that (i) if any unless and until such holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure shall have failed to perfect or otherwise) shall have effectively withdrawn or lost its right to appraisal under the MGBCL. If any Dissenting Shareholder shall have failed to perfect or shall have effectively withdrawn or lost such right, such holder’s Shares shall thereupon be treated as if they had been converted into the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have becomereceive, as of the Effective Time, the right to receiveapplicable Merger Consideration for each such Share, in accordance with Section 3.1, without interest thereon, the Public Merger Consideration. (b) interest. The Company shall give Parent (i) prompt notice of all demands any demand for appraisal received by the Company, withdrawals or attempted withdrawal of such demands, and any other instruments served pursuant to Section 262 of the DGCL demand that is received by the Company in connection with relating to Company shareholders’ rights of appraisal. Parent shall have the Mergers and (ii) the reasonable opportunity right to participate in all Proceedings negotiations and proceedings with respect to demands for appraisal by Company shareholders under Applicable Law of Delaware in respect of Dissenting Sharesthe MGBCL. The Except to the extent required by applicable Law, the Company shall not, except not voluntarily offer to make or make any payment with respect to any demand for appraisal without the prior written consent of Parent, voluntarily make any payment with respect not to any demands for appraisalbe unreasonably withheld, delayed or settle or offer to settle any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandconditioned.

Appears in 2 contracts

Samples: Merger Agreement (Vail Resorts Inc), Merger Agreement (Peak Resorts Inc)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrarycontrary and unless otherwise provided by the DGCL, with respect to each share shares of Company Class A Common Stock held that are issued and outstanding immediately prior to the Effective Time and that are owned by a holder Stockholders who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect to such share and for which the holder or Beneficial Owner has have properly and validly perfected its statutory their appraisal rights of appraisal in respect of such shares in accordance with Section 262 of the DGCL (“Dissenting Shares”) will not be converted into the right to receive the Merger Consideration, unless and has not until such Stockholders will have failed to perfect or will have effectively withdrawn or lost its rights to their right of payment under the DGCL. Such Stockholders, who have so perfected their appraisal (each such sharerights, a “Dissenting Share”), if any, such Dissenting Shares shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall will instead be entitled to such rights as are granted by Section 262 payment of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares in accordance with the provisions DGCL. If any such Stockholder will have failed to perfect or will have effectively withdrawn or lost such appraisal rights, each share of Common Stock held by such Stockholder will thereupon be deemed to have been converted into the right to receive and become exchangeable for, at the Effective Time, the Merger Consideration specified and allocated in Section 262 2.2(a) and subject to the terms thereof. (b) Each party hereto shall give each other party hereto prompt notice of any demands received by it for appraisal of shares of Common Stock, withdrawals of such demands and any other related instruments received by it. Parent shall have the right, to the extent reasonably practicable, to receive notice of and participate in all negotiations and proceedings with respect to such demands and the exercise of such appraisal rights under the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) Stakeholder Representative shall have the right to dissent or its right for appraisal of direct all such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock negotiations and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, the right to receive, without interest thereon, the Public Merger Consideration. (b) The Company shall give Parent (i) prompt notice of all demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection with the Mergers and (ii) the reasonable opportunity to participate in all Proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharesproceedings. The Company shall not, except Except with the prior written consent of Parent(1) the Stakeholder Representative, voluntarily no other party hereto shall make any payment with respect to any demands for appraisalto, or settle or offer to settle or settle, any such demands for paymentand (2) Parent, no other party hereto shall make any payment with respect to, or offer to settle or settle, any such demands unless such payment or settlement includes an express unconditional release of Parent, the Company, the Surviving Corporation and their respective Affiliates from all liabilities and obligations relating to such demand and the exercise of such appraisal rights under the DGCL and such payment or settlement does not impose injunctive or other equitable relief against Parent, the Company, the Surviving Corporation or any of their respective Affiliates; provided that, notwithstanding any of the foregoing, each party hereto may make such payments and take such actions as are required by applicable Law. (c) Notwithstanding the foregoing, to the extent that Parent, the Surviving Corporation or the Company (i) makes any payment or payments in respect of any Dissenting Shares. Any portion Shares in excess of the Public Merger Consideration made available consideration that otherwise would have been payable in respect of such shares in accordance with this Agreement or (ii) incurs any other costs or expenses (including reasonable attorneys’ fees, costs and expenses in connection with any action or proceeding or in connection with any investigation) in respect of any Dissenting Shares (together “Dissenting Share Payments”), Parent shall be entitled to recover under the terms of Article IX the amount of such Dissenting Share Payments without regard to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandBasket or the Minimum Claim Basket.

Appears in 2 contracts

Samples: Merger Agreement, Merger Agreement (Icg Group, Inc.)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrarycontrary contained herein, with respect to each share the extent required by the DGCL, any shares of Company Class A Common Stock held by a holder who neither that are issued and outstanding immediately prior to the Effective Time and as to which the holders thereof have not voted in favor of the adoption of this Agreement or consented thereto in writing with respect to such share and for which the holder or Beneficial Owner has have properly and validly perfected its statutory rights of demanded appraisal in respect of such shares in accordance with Section 262 of the DGCL and has have not effectively withdrawn or lost its rights to appraisal such demand (each such sharecollectively, a “Dissenting ShareShares), if any, such Dissenting Shares ) shall not be converted into or represent a the right to receive any portion of the Public Merger Consideration as provided in Section 2.1, and such holders and Beneficial Owner thereof shall be entitled only to such rights and payments as are granted by Section 262 of the DGCL; provided, however, that if any such holder shall effectively waive, withdraw, not properly demand or perfect or otherwise lose such holder’s rights under Section 262 of the DGCL, each of such holder’s Dissenting Shares shall thereupon be deemed to have been converted at the Effective Time into the right to receive the Merger Consideration as provided in Section 2.1, without interest and after giving effect to any required Tax withholdings as provided herein, and at such holder thereof shall cease to have any other rights with respect thereto. At the Effective Time, such any holder of Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares rights provided in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by DGCL and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, the right to receive, without interest thereon, the Public Merger Considerationprevious sentence. (b) The Company shall give Parent (i) prompt notice of all any written notices received by the Company prior to the Effective Time with respect to any intent to demand or written demands for appraisal received by the Companywith respect to any shares of Common Stock, withdrawals of attempts to withdraw such demands, notices or demands and any other instruments or notices served pursuant to Section 262 of the DGCL received by or other applicable Law relating to stockholders’ appraisal rights. Parent shall have the Company in connection with the Mergers right to control all negotiations and (ii) the reasonable opportunity to participate in all Proceedings proceedings with respect to demands for the exercise of appraisal rights under Applicable Section 262 of the DGCL or other applicable Law of Delaware in respect of Dissenting Sharesrelating to stockholders’ appraisal rights. The Company shall not, except with the prior written consent of ParentParent or as otherwise required by an Order of a Governmental Entity of competent jurisdiction, voluntarily make any payment or other commitment with respect to any such demands for appraisal, or settle or offer to settle or settle any such demands for paymentor approve any withdrawal, in respect resolution or settlement of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandany such demands.

Appears in 2 contracts

Samples: Merger Agreement (Moneygram International Inc), Merger Agreement (Moneygram International Inc)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect Shares outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and held by a holder who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect is entitled to such share demand and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of demands appraisal in respect of such shares Shares (“Dissenting Shares”) pursuant to, and who complies in accordance with all respects with, Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such share, a the Dissenting ShareAppraisal Rights), if any, such Dissenting Shares ) shall not be converted into or represent a the right to receive any portion the Merger Consideration, but instead the holder of the Public Merger Consideration and such holders and Beneficial Owner thereof Shares shall be entitled to such rights as are granted by Section 262 payment of the DGCL, and at fair value of such Dissenting Shares in accordance with the Appraisal Rights. At the Effective Time, such all Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such each holder of Dissenting Shares shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares shares in accordance with the provisions of Section 262 of the DGCL; providedAppraisal Rights. Notwithstanding the foregoing, however, that (i) if any such holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure shall fail to perfect or otherwise) otherwise shall waive, withdraw or lose the right to dissent or its under the Appraisal Rights, then the right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner to be paid the fair value of such holder’s Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock cease and such shares of Company Class A Common Stock Dissenting Shares shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective TimeTime into, and to have become exchangeable solely for, the right to receive, without interest thereon, receive the Public Merger Consideration. (b) The Company shall give Parent (i) serve prompt notice to Purchaser of all any demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection with for dissenter’s rights of any Shares, and Purchaser shall have the Mergers and (ii) the reasonable opportunity right to participate in and direct all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Prior to the Effective Time, the Company shall not, except with without the prior written consent of ParentPurchaser, voluntarily make any payment with respect to any demands for appraisalto, or settle or compromise or offer to settle or compromise, any demands for paymentsuch demand, in respect of Dissenting Shares. Any portion or agree to do any of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandforegoing.

Appears in 2 contracts

Samples: Merger Agreement (Teradyne, Inc), Merger Agreement (Nextest Systems Corp)

Dissenting Shares. (a) Notwithstanding anything in For purposes of this Agreement to the contraryAgreement, with respect to each share “Dissenting Shares” means shares of Company Class A Common Stock held as of the Effective Time by a holder Company Stockholder who neither has not voted such Company Stock in favor of the adoption of this Agreement or consented thereto in writing and the Merger and with respect to such share which appraisal shall have been duly demanded and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares in accordance with Section 262 of the DGCL Delaware Act and has not effectively withdrawn or lost its rights forfeited prior to appraisal (each such share, a “Dissenting Share”), if any, such the Effective Time. Dissenting Shares shall not be converted into or represent a the right to receive any portion shares of Parent Common Stock unless such Company Stockholder’s right to appraisal shall have ceased in accordance with the Delaware Act. If such Company Stockholder has so forfeited or withdrawn his, her or its right to appraisal of Dissenting Shares, then (i) as of the Public Merger Consideration and occurrence of such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Timeevent, such holder’s Dissenting Shares shall no longer cease to be outstanding Dissenting Shares and shall automatically be cancelled converted into and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except represent the right to receive the fair value Merger Shares issuable in respect of such Dissenting Shares in accordance with the provisions of Company Stock pursuant to Section 262 of the DGCL; provided1.5(a), however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) promptly following the occurrence of such event and, if any holder or Beneficial Owner requested by Parent, the proper surrender of Dissenting such person’s Company Stock Certificate, the Parent shall deliver to such Company Stockholder a certificate representing the Merger Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that which such holder or Beneficial Owner is not entitled pursuant to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, the right to receive, without interest thereon, the Public Merger Consideration1.5(a). (b) The Company shall give the Parent (i) prompt notice of all any written demands for appraisal received by the Companyof any Company Stock, withdrawals of such demands, and any other instruments served pursuant that relate to Section 262 of the DGCL such demands received by the Company in connection with the Mergers and (ii) the reasonable opportunity to participate in all Proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting SharesCompany. The Company shall not, except with the prior written consent of Parentthe Parent (such consent not to be unreasonably withheld), voluntarily make any payment with respect to any demands for appraisal, or settle appraisal of Company Stock or offer to settle or settle any such demands for payment, in respect of Dissenting Shares. Any portion unless required by the court of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares State of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandDelaware having jurisdiction thereof.

Appears in 2 contracts

Samples: Merger Agreement (Miramar Labs, Inc.), Merger Agreement (Miramar Labs, Inc.)

Dissenting Shares. (a) Notwithstanding anything in this Agreement any other provision of the Merger Agreement, shares of Company Common Stock that are outstanding immediately prior to the contrary, with respect to each share of Company Class A Common Stock Effective Time and which are held by a holder of shares of Company Common Stock who neither voted in favor shall have (i) duly given written notice to the Company, prior to the taking of adoption the vote by the Company's shareholders on approval of this Agreement or consented thereto in writing with respect Plan of Merger, of such holder's intent to such share dissent from the Merger and for which demand payment of the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect "fair value" of such shares in accordance with Section 262 Chapter 13 of the DGCL and has not effectively withdrawn or lost its rights to appraisal South Carolina Business Corporation Act (each such share, a “Dissenting Share”the "Dissenters' Rights Provisions"), if any(ii) not voted such shares in favor of the Merger (other than a vote by proxy that does not disqualify such holder under the Dissenters' Rights Provisions), and (iii) not withdrawn, waived or otherwise lost or forfeited such holder's dissenter's rights under the Dissenters' Rights Provisions prior to the Effective Time (collectively, the "Dissenting Shares Shares"), shall not be converted into or represent a the right to receive any portion part of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Consideration. Such Dissenting Shares shall no longer instead be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except converted into the right to receive from the Surviving Corporation payment of the "fair value of such Dissenting Shares value" thereof in accordance with the provisions of Section 262 of Dissenters' Rights Provisions. All Dissenting Shares held by holders who after the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure Effective Time shall have failed to perfect or otherwise) the right to dissent who effectively shall have withdrawn, waived or its right for appraisal of otherwise lost or forfeited their dissenters' rights under such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock Dissenters' Rights Provisions shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have becomebecome exchangeable, as of the Effective Time, for the right to receive, without any interest or dividend thereon, the Public appropriate part of the Merger Consideration. (b) The , upon surrender, in the manner provided in this Section 6, of the Certificate or Certificates that formerly evidenced such shares of Company shall give Parent (i) prompt notice of all demands for appraisal received Common Stock. Upon application by the CompanySurviving Corporation to the Exchange Agent therefor, withdrawals accompanied by the Certificate or Certificates formerly evidencing Dissenting Shares and a certificate of the Surviving Corporation to the effect that there has been paid, or will be paid contemporaneously with the remittance to the Surviving Corporation of the Merger Consideration otherwise allocable to such Dissenting Shares, the amount to which the holder thereof is entitled, or has agreed with the Surviving Corporation to receive, as payment for such Dissenting Shares pursuant to the exercise of such demandsholder's dissenters' rights, and any other instruments served pursuant then the Exchange Agent shall remit to Section 262 the Surviving Corporation that part of the DGCL received by Merger Consideration otherwise (but for the Company in connection exercise of such dissenters' rights) allocable to such Dissenting Shares. In such event, remittance to the Surviving Corporation shall be a full acquittance of the Exchange Agent with respect thereto, and, to the Mergers and (ii) extent such payment was not previously made, the reasonable opportunity holder of such Dissenting Shares shall look only to participate in all Proceedings the Surviving Corporation for the payment to which such holder is entitled with respect to demands for appraisal under Applicable Law of Delaware in respect of such Dissenting Shares. The Company shall not, except with the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisal, or settle or offer to settle any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demand.

Appears in 2 contracts

Samples: Merger Agreement (Cic Acquisition Sub Inc), Merger Agreement (Conso International Corp)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect to each share shares of Company Class A Common Stock issued and outstanding immediately prior to the Effective Time and held by a holder shareholder who neither has not voted in favor of adoption of this Agreement the Merger or consented thereto in writing and who has complied with respect to such share and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares in accordance with Section 262 applicable provisions of the DGCL and has not effectively withdrawn or lost its rights to appraisal MBCA (each such share, a “Dissenting ShareShares), if any, such Dissenting Shares ) shall not be converted into or represent a right to receive the Merger Consideration, unless such shareholder fails to perfect or withdraws or otherwise loses his, her or its right to appraisal. From and after the Effective Time, a shareholder who has properly exercised such appraisal rights shall not have any portion rights of a shareholder of Company or the Surviving Entity with respect to shares of Company Common Stock, except those provided under applicable provisions of the Public Merger Consideration and MBCA (any shareholder duly making such holders and Beneficial Owner thereof demand being hereinafter called a “Dissenting Shareholder”). A Dissenting Shareholder shall be entitled to such rights as are granted by Section 262 receive payment of the DGCLfair value of each share of Company Common Stock held by him or her in accordance with the applicable provisions of the MBCA, and at unless, after the Effective Time, such Dissenting Shares shareholder fails to perfect or withdraws or loses his, her or its right to appraisal, in which case such shares of Company Common Stock shall no longer be outstanding converted into and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except represent only the right to receive the fair value Merger Consideration, without interest thereon, upon surrender of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement Certificates pursuant to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, the right to receive, without interest thereon, the Public Merger Consideration. (b) The 2.05. Company shall give Parent (i) Buyer prompt notice of all demands for appraisal received by the Companyany written notice of intent to demand payment, attempted withdrawals of such demandsnotices, and any other instruments served pursuant to Section 262 of the DGCL applicable Law received by Company relating to shareholders’ rights of appraisal. Buyer shall have the Company in connection with the Mergers right to direct all discussions, negotiations and (ii) the reasonable opportunity to participate in all Proceedings proceedings with respect to demands for appraisal under Applicable Law any such notices of Delaware in respect of Dissenting Sharesintent to demand payment. The Company shall not, except with the prior written consent of ParentBuyer, voluntarily make make, or offer to make, any payment with respect to any demands for appraisalto, or settle or offer to settle settle, any demands for such notice of intent to demand payment, . Company shall not waive any failure to timely deliver a written notice of intent to demand payment or the taking of any other action by such Dissenting Shareholder as may be necessary to perfect appraisal rights under the MBCA. Any payments made in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected Shares shall be returned to Parent upon demandmade by Buyer as the Surviving Entity.

Appears in 2 contracts

Samples: Merger Agreement (Eagle Bancorp Montana, Inc.), Merger Agreement (Eagle Bancorp Montana, Inc.)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect to each share shares of Company Class A Common Capital Stock that are issued and outstanding immediately prior to the Effective Time and that are held by a holder Company Stockholder who neither has not voted in favor of adoption of this Agreement the Merger or consented thereto in writing with respect to such share and who shall have properly demanded in writing the payment of the fair value (as defined in NRS 92A.320) for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal Common Stock under NRS 92A.300 through 92A.500 (each such shareeach, a “Dissenting Share,” and collectively, the “Dissenting Shares”), if anyto the extent that such rights were not otherwise waived by such Company Stockholder, such Dissenting Shares shall not be converted into or represent a the right to receive the Consideration Common Stock until such time as all rights and remedies are exercised pursuant to NRS Chapter 92A and, in any portion of the Public Merger Consideration and event, such holders and Beneficial Owner thereof Dissenting Stockholder shall be entitled only to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCLNRS; provided, however, that (i) if any holder or Beneficial Owner of such Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure Stockholder shall have failed to perfect or otherwise) the right to dissent shall have effectively withdrawn or its right for appraisal of otherwise lost such Dissenting SharesStockholder’s rights under NRS 92A.300 through 92A.500, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Capital Stock shall, to the fullest extent permitted held by Applicable Law, thereafter such Company Stockholder shall thereupon be deemed to have been converted into and to have becomebecome exchangeable for, as of the Effective Time, the right to receive, without any interest thereon, the Public Merger Consideration. (b) The Company shall give Parent (i) prompt notice Consideration Common Stock in accordance with this Article 3 upon the surrender of all demands for appraisal received by the Company, withdrawals its stock certificate and execution and delivery of such demandsa Letter of Transmittal, and any other instruments served pursuant to Section 262 such share of the DGCL received by the Company in connection with the Mergers and (ii) the reasonable opportunity to participate in all Proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Capital Stock will no longer be a Dissenting SharesShare. The Company shall not, except comply in all respects with the prior written consent applicable provisions of Parent, voluntarily make any payment NRS 92A.300 through 92A.500. The Stockholders’ Representative (on behalf of the Indemnifying Stockholders) shall have the right to direct all negotiations and proceedings with respect to any such demands under Nevada Act. The Company shall send out the notice required by NRS 92A.430 by overnight courier immediately after the Closing and such notice shall set the date by which the Company must receive demand for appraisal, or settle or offer to settle any demands for payment, in respect of Dissenting Shares. Any portion of payment on the Public Merger Consideration made available to date which is exactly thirty (30) days after the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demanddate the notice is delivered.

Appears in 2 contracts

Samples: Merger Agreement (Agrify Corp), Merger Agreement (Agrify Corp)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect to each share of Company Class A Common Stock held by a holder who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect to such share and for which no Share, the holder or Beneficial Owner has properly of which shall be entitled to assert, and validly perfected its statutory rights shall have complied with the provisions of appraisal in respect of such shares in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its as to, dissenter's rights to appraisal (each such share, a "Dissenting Share"), shall be deemed converted into and to represent the right to receive Merger Consideration hereunder, and the holders of Dissenting Shares, if any, such Dissenting Shares shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 payment, solely from the Surviving Corporation, of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair appraised value of such Dissenting Shares to the extent permitted by and in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting SharesShares shall, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws subsequently deliver a written withdrawal of his or loses (through failure to perfect or otherwise) the right to dissent or its right her demand for appraisal of such Dissenting Shares, or (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, his or her or its entitlement to appraisal rights to payment as provided in the DGCL such Section 262, or (iii) if neither any holder of Dissenting Shares nor the Surviving Corporation has filed a court petition demanding a determination of competent jurisdiction shall determine that the value of all Dissenting Shares within the time provided in such Section 262, such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) holders (as the case may be) shall forfeit the such right to appraisal of payment for such shares of Company Class A Common Stock and Dissenting Shares pursuant to such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting SharesSection 262, and each such share of Company Class A Common Stock shallShare shall not be considered a Dissenting Share but shall thereupon be converted into, and treated as, a Non-Election Share in accordance with, and subject to the fullest extent permitted by Applicable Lawprovisions of, thereafter be deemed to have been converted into and to have become, as of the Effective Time, the right to receive, without interest thereon, the Public Merger Consideration. (b) this Article IV. The Company shall give Parent (iX) prompt notice of all any written demands for appraisal received by the Companyof any Shares, attempted withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection with the Mergers relating to shareholders' rights of appraisal and (iiY) the reasonable opportunity to participate in direct all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharesthe DGCL. The Company shall not, except with the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisalappraisals of Shares, or settle or offer to settle or settle any such demands for payment, in respect or approve any withdrawal of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandany such demands.

Appears in 2 contracts

Samples: Merger Agreement (American General Corp /Tx/), Merger Agreement (Western National Corp)

Dissenting Shares. (a) Notwithstanding anything in any other provisions of this Agreement to the contrary, with respect to each share any shares of Company Class A Common Capital Stock held by a holder who neither has not voted in favor of adoption of this Agreement for the Merger, or consented thereto in writing with respect to such share and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares in accordance with Section 262 of the DGCL and who has not effectively withdrawn or lost its such holder’s appraisal rights to appraisal under the DGCL (each such sharecollectively, a the “Dissenting ShareShares), if any, such Dissenting Shares ) shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner applicable consideration for Company Capital Stock set forth in Section 1.6 hereof, but the holder thereof shall only be entitled to such rights as are granted provided by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares in accordance with . (b) Notwithstanding the provisions of Section 262 of the DGCL; provided1.7(a) hereof, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and Shares shall effectively withdraws withdraw or loses lose (through failure to perfect or otherwise) the right to dissent such holder’s appraisal or its right for appraisal of such Dissenting Sharesdissenter’s rights, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have becomethen, as of the later of the Effective TimeTime and the occurrence of such event, such holder’s shares shall automatically be converted into and represent only the right to receivereceive the consideration for Company Capital Stock, as applicable, set forth in Section 1.6 hereof, without interest thereon, upon surrender of the Public Merger Considerationcertificate representing such shares. (bc) The Company shall give Parent (i) prompt notice of all demands any written demand for appraisal received by the Company, withdrawals of such demands, and any other instruments served Company pursuant to Section 262 the applicable provisions of the DGCL received by the Company in connection with the Mergers DGCL, and (ii) the reasonable opportunity to participate in all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Company shall not, except with the prior written consent of Parent, voluntarily make any payment with respect to any such demands for appraisal, or settle or offer to settle or settle any demands for paymentsuch demands. Notwithstanding the foregoing, to the extent that Parent or the Company (i) makes any payment or payments in respect of any Dissenting Shares. Any portion Shares in excess of the Public Merger Consideration made available consideration that otherwise would have been payable in respect of such shares in accordance with this Agreement or (ii) incurs any other costs or expenses (including attorneys’ fees, costs and expenses in connection with any action or proceeding or in connection with any investigation) in respect of any Dissenting Shares (excluding payments for such shares) (together “Dissenting Share Payments”), Parent shall be entitled to recover under the terms of Section 7.2 hereof the amount of such Dissenting Share Payments without regard to the Paying Agent pursuant to Threshold Amount (as defined in Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demand7.5(a) hereof).

Appears in 2 contracts

Samples: Merger Agreement, Merger Agreement (FOTV Media Networks Inc.)

Dissenting Shares. (a) Notwithstanding anything in any provision of this Agreement to the contrary, with respect Shares which are issued and outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and which are held by a holder holders who neither voted in favor shall have complied with the provisions of adoption of this Agreement or consented thereto in writing with respect to such share and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such share, a the “Dissenting ShareShares), if any, such Dissenting Shares ) shall not be converted into or represent a the right to receive any portion the Merger Consideration, and holders of the Public Merger Consideration and such holders and Beneficial Owner thereof Dissenting Shares shall be entitled to such rights as are granted by Section 262 receive payment of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any unless and until the applicable holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance fails to comply with the DGCL, affirmatively and provisions of Section 262 of the DGCL or effectively withdraws or otherwise loses (through failure such holder’s rights to perfect or otherwise) receive payment of the right to dissent or its right for appraisal fair value of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting holder’s Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by under Section 262 of the DGCL. If, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of after the Effective Time, any such holder fails to comply with the provisions of Section 262 of the DGCL or effectively withdraws or loses such right, such Dissenting Shares shall thereupon be treated as if they had been converted at the Effective Time into the right to receive, without interest thereon, receive the Public Merger Consideration. (b) The Company shall give Parent (i) prompt notice . Notwithstanding anything to the contrary contained in this Section 3.3, if this Agreement is terminated prior to the Effective Time, then the right of all demands for appraisal received by any holder of Shares to be paid the Company, withdrawals fair value of such demands, and any other instruments served holder’s Dissenting Shares pursuant to Section 262 of the DGCL shall cease. The Company shall give Parent notice of any written demands for appraisal of Shares received by the Company in connection with under Section 262 of the Mergers DGCL, and (ii) shall give Parent the reasonable opportunity to participate in all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Company shall not, except with the prior written consent of Parent, voluntarily (i) make any payment with respect to any such demands for appraisal, or settle or (ii) offer to settle or settle any demands such demands, (iii) waive any failure to timely deliver a written demand for payment, appraisal in respect of Dissenting Shares. Any portion accordance with the DGCL or (iv) agree to do any of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandforegoing.

Appears in 2 contracts

Samples: Merger Agreement (Burlington Coat Factory Warehouse Corp), Merger Agreement (COHOES FASHIONS of CRANSTON, Inc.)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect to each share shares of Company Class A Common Stock issued and outstanding immediately prior to the Effective Time that are held by a any holder who neither has not voted in favor of adoption of this Agreement or consented thereto in writing with respect to such share the Merger and for which the holder or Beneficial Owner who has properly and validly perfected its statutory exercised dissenters’ rights of appraisal in respect of such shares in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such share, a “Dissenting ShareShares”), if any, such Dissenting Shares shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 receive payment of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value market value” of such Dissenting Shares (determined as of the day before the first announcement of the terms of the proposed merger, excluding any appreciation or depreciation in consequence of the proposed merger) held by them in accordance with the provisions of such Section 262 of the DGCL; provided262, however, except that (i) if any holder or Beneficial Owner of all Dissenting Shares, under the circumstances permitted Shares held by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure stockholders who shall have failed to perfect or otherwise) the right who effectively shall have withdrawn or lost their rights to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that under such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have becomebecome exchangeable for, as of the Effective Time, the right to receivereceive the Merger Consideration, without any interest thereon, the Public Merger Consideration. (b) upon Proper Delivery. The Company shall serve prompt notice to Parent of any demands for appraisal of any shares of Company Common Stock, attempted withdrawals of such notices or demands and any other negotiations, petitions and proceedings with respect to such demands. The Company shall give Parent (i) prompt notice of all demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection with the Mergers and (ii) the reasonable opportunity to participate in direct all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Shares. The or dissenters’ rights and the Company shall not, except with without the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisalto, or settle or offer to settle settle, any such demands. All fees and expenses of the Company relating to all negotiations, petitions and proceedings with respect to demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal or dissenters’ rights have been perfected shall be returned to Parent upon demandpaid by Parent.

Appears in 2 contracts

Samples: Merger Agreement (National Holdings Corp), Merger Agreement (Gilman Ciocia, Inc.)

Dissenting Shares. (a) Notwithstanding anything in this Agreement Shares that are issued and outstanding immediately prior to the contrary, with respect to each share of Company Class A Common Stock Effective Time and that are held by a holder holders who neither voted in favor of adoption of this Agreement or consented thereto in writing have properly demanded their appraisal rights with respect to such share and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares Shares in accordance with Section 262 of the DGCL and has who have not effectively withdrawn such demand or lost its rights consented to appraisal or voted in favor of this Agreement (each such share, a the “Dissenting ShareShares), if any, such Dissenting Shares ) shall not be converted into or represent a the right to receive any portion of the Public Merger Consideration Consideration, and such the holders and Beneficial Owner thereof shall be entitled to only such rights as are granted by Section 262 of the DGCL, DGCL (and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled canceled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL); provided, however, that (i) if any holder or Beneficial Owner such stockholder of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure Company shall fail to perfect or otherwise) the right to dissent shall effectively waive, withdraw or its right for appraisal of lose such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal stockholder’s rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by under Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (stockholder’s Dissenting Shares shall be treated as the case may be) shall forfeit if they had been converted into the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to receive the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of Merger Consideration at the Effective Time, and the holder thereof shall be entitled to the right to receivereceive the Merger Consideration, as set forth in Section 2.1 of this Agreement, without any interest thereon, the Public Merger Consideration. (b) The Company shall give Parent (i) prompt notice of all demands for appraisal any notice received by the CompanyCompany of intent to demand the fair value of any Shares, withdrawals of such demands, notices and any other instruments served pursuant to Section 262 of the DGCL and received by the Company in connection with the Mergers and (ii) the reasonable opportunity to participate in and control all Proceedings negotiations and proceedings with respect to demands for the exercise of appraisal rights under Applicable Law Section 262 of Delaware in respect of Dissenting Sharesthe DGCL. The Company shall not, except with the prior written consent of ParentParent or as otherwise required by an order, voluntarily decree, ruling or injunction of a court of competent jurisdiction, make any payment with respect to any demands for appraisal, or settle such exercise of appraisal rights or offer to settle or settle any demands for payment, in respect of Dissenting Shares. Any portion such rights or offer or commit to do any of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandforegoing.

Appears in 2 contracts

Samples: Merger Agreement (Phoenix Companies Inc/De), Merger Agreement

Dissenting Shares. (ai) Notwithstanding anything in this Agreement to the contrary, with respect to each any share of Company Class A Common Stock that is issued and outstanding immediately prior to the Effective Time and which is held by a holder who: (a) is entitled to demand and who neither voted has made written demand upon the Company for the purchase of such shares and payment in favor cash of adoption the “fair market value” thereof in the manner prescribed by Chapter 13 of this Agreement the CGCL (the “Demand Notice”); and (b) has perfected such holder’s rights in accordance with Chapter 13 of the CGCL, shall be deemed a “Dissenting Share.” (ii) If the number of Dissenting Shares as of the Effective Time equals or consented thereto in writing with respect exceeds five percent (5%) of the total number of shares Company Common Stock issued and outstanding as of the Effective Time (the “Dissenting Threshold”), then no holder of any Dissenting Shares shall be entitled to such share and for which payment of the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal Merger Consideration in respect of such shares in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such share, a “Dissenting Share”), if any, such Dissenting Shares shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCLShares, and at the Effective Time, Time all such Dissenting Shares shall no longer be outstanding and shall be automatically be cancelled and shall cease to existexist and, and except as otherwise provided by applicable Law, each holder of any such holder Dissenting Shares shall cease to have any rights with respect thereto, except to the right to receive the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under other than such rights as are granted by Chapter 13 of the circumstances permitted by and in accordance with CGCL. (iii) Notwithstanding anything to the DGCLcontrary herein, affirmatively and effectively if a holder of any Dissenting Shares shall fail to perfect or otherwise waives, withdraws or loses (through failure to perfect such holder’s rights under Chapter 13 of the CGCL or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine determines that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 under Chapter 13 of the DGCLCGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of then any such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into at the Effective Time into, and to shall have become, as of the Effective Time, the right to receivereceive the Merger Consideration as set forth in Section 3.1(a)(i) of this Agreement, without any interest thereon, the Public Merger Consideration. (biv) If the Dissenting Threshold is not met, any share that had previously been a Dissenting Share shall no longer be regarded as such and any such shares shall be deemed to have been converted at the Effective Time into, and shall have become, the right to receive the Merger Consideration as set forth in Section 3.1(a)(i) of this Agreement, without any interest thereon. (v) The Company shall give Parent (iA) prompt notice of all demands for appraisal any Demand Notice received by the Company, withdrawals of such demands, thereof and any other instruments served pursuant to Section 262 Chapter 13 of the DGCL CGCL and received by the Company in connection with the Mergers Company, and (iiB) the reasonable opportunity to participate in direct all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law the exercise of Delaware in respect any rights of the holder of Dissenting SharesShares under Chapter 13 of the CGCL. The Company shall not, except with the prior written consent of ParentParent or as otherwise required by applicable Law, voluntarily make any payment with respect to any demands for appraisal, or settle such exercise of any such rights of the holder of Dissenting Shares under Chapter 13 of the CGCL or offer to settle or settle any demands for paymentsuch rights. The parties hereto agree that they will not, in respect and this Agreement does not, confer or seek to confer upon any holder of Dissenting Shares. Any portion Company Common Stock any dissenters rights or appraisal rights greater than those provided by Chapter 13 of the Public Merger Consideration made available CGCL or otherwise expand or seek to expand the Paying Agent pursuant to Section 3.03 to pay for shares rights provided by Chapter 13 of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandthe CGCL.

Appears in 2 contracts

Samples: Merger Agreement (Avnet Inc), Merger Agreement (Bell Microproducts Inc)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect Shares outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and held by a holder who neither voted did not vote in favor of adoption of this Agreement the Merger (or consented consent thereto in writing with respect writing) and is entitled to such share demand and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of demands appraisal in respect of such shares Shares (“Dissenting Shares”) pursuant to, and who complies in accordance with all respects with, Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such share, a the Dissenting ShareAppraisal Rights), if any, such Dissenting Shares shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof ) shall be entitled to such rights as are granted by Section 262 payment of the DGCL, and fair value of such Dissenting Shares in accordance with the Appraisal Rights (it being understood that at the Effective Time, such Dissenting Shares shall no longer be outstanding and outstanding, shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except thereto other than the right to receive the appraised value of such Dissenting Shares to the extent afforded by the Appraisal Rights); provided, however, that if any such holder shall fail to perfect or otherwise shall waive, withdraw or lose the right to payment of the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCLAppraisal Rights, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) then the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner to be paid the fair value of such holder’s Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock cease and such shares of Company Class A Common Stock Dissenting Shares shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective TimeTime into, and to have become exchangeable solely for the right to receive, without interest thereon, the Public Merger Consideration. (b) The Company shall give Parent (i) prompt notice to Purchaser of all any demands for appraisal received by the CompanyCompany for appraisal of any Shares, of any withdrawals of such demands, demands and of any other instruments served pursuant to the DGCL and received by the Company relating to rights of appraisal, and Purchaser shall have the right to participate in and control all negotiations and proceedings with respect to such demands. Prior to the Effective Time, the Company shall not, without the prior written consent of Purchaser, make any payment with respect to, or settle or compromise or offer to settle or compromise, any such demand, or agree to do any of the foregoing. (c) Notwithstanding anything to the contrary contained herein, each of Parent, Purchaser and the Company acknowledges and agrees that in any appraisal proceeding under Section 262 of the DGCL received with respect to Dissenting Shares and to the fullest extent permitted by applicable Law, neither Parent nor the Surviving Corporation shall assert that the Top-Up Option, the Top-Up Option Shares or any cash or Promissory Note delivered by Purchaser to the Company as payment for any Top-Up Option Shares should be considered in connection with the Mergers and (ii) the reasonable opportunity to participate in all Proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Shares. The Company shall not, except with the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisal, or settle or offer to settle any demands for payment, in respect of Dissenting Shares. Any portion determination of the Public Merger Consideration made available to fair value of the Paying Agent pursuant to Dissenting Shares in accordance with Section 3.03 to pay for shares 262(h) of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandthe DGCL.

Appears in 2 contracts

Samples: Merger Agreement (Danaher Corp /De/), Merger Agreement (Beckman Coulter Inc)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect Shares outstanding immediately prior to each share of Company Class A Common Stock held the Effective Time and owned by a holder who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect is entitled to such share demand and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of demanded appraisal in respect of for such shares Shares in accordance with with, and who complies in all respects with, Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such shareShares, a “Dissenting ShareShares), if any, such Dissenting Shares ) shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the Per Share Merger Consideration, and shall instead represent the right to receive payment of the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief extent provided by Section 262 of the DGCL. At the Effective Time, (a) all Dissenting Shares shall be cancelled, extinguished and cease to exist and (b) the holders of Dissenting Shares shall be entitled only to such holder(s) rights as may be granted to them under the DGCL. If any such holder fails to perfect or Beneficial Owner(s) (as the case may be) shall forfeit the otherwise waives, withdraws or loses such holder’s right to appraisal under Section 262 of the DGCL or other applicable Law, then the right of such shares holder to be paid the fair value of Company Class A Common Stock such Dissenting Shares shall cease and such shares of Company Class A Common Stock Dissenting Shares shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have becomeconverted, as of the Effective Time, into and shall be exchangeable solely for the right to receivereceive the Per Share Merger Consideration, without interest thereon, the Public Merger Consideration. (b) and subject to any withholding of Taxes required by applicable Law in accordance with Section 1.8(g). The Company shall give Parent (i) prompt notice (and in any event within one Business Day) of all any demands for appraisal received by the CompanyCompany for appraisal of Shares, attempted withdrawals of such demands, demands and any other instruments served pursuant to Section 262 of the DGCL and received by the Company in connection with relating to rights to be paid the Mergers fair value of Dissenting Shares, and (ii) Parent shall have the reasonable opportunity right to participate in and direct all negotiations and Proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Prior to the Effective Time (unless required by applicable Law), the Company shall not, except with the prior written consent of ParentParent (which consent shall not be unreasonably withheld, voluntarily conditioned or delayed), make any payment with respect to, or settle or compromise or offer to settle or compromise, any such demands or waive any failure to timely deliver a written demand for appraisal, or settle agree or offer commit to settle do any demands for payment, in respect of Dissenting Sharesthe foregoing. Any portion of the Public aggregate Per Share Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights Shares that have been perfected become Dissenting Shares shall be returned to Parent upon demand.

Appears in 2 contracts

Samples: Merger Agreement (Electronic Arts Inc.), Merger Agreement (Glu Mobile Inc)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect Company Shares that are outstanding immediately prior to each share of Company Class A Common Stock the First Effective Time and that are held by a holder any Person who neither voted in favor of adoption of this Agreement or consented thereto in writing is entitled to demand and properly demands dissenters’ rights with respect to such share shares (“Dissenting Shares”) pursuant to, and for which the holder or Beneficial Owner has properly who complies in all respects with, Sections 471 and validly perfected its statutory rights of appraisal in respect of such shares in accordance with Section 262 473 of the DGCL MBCA (“Sections 471 and has not effectively withdrawn or lost its rights to appraisal (each such share, a “Dissenting Share473), if any, such Dissenting Shares ) shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such as provided in Section 2.05, but rather the holders and Beneficial Owner thereof of Dissenting Shares shall be entitled to such rights as are granted payment by Section 262 the Surviving Company of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value value” of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCLSections 471 and 473; provided, however, that (i) if any such holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure shall fail to perfect or otherwise) the right otherwise shall waive, withdraw or lose dissenters’ rights pursuant to dissent (or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCLreceive fair value pursuant to) Sections 471 and 473, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit then the right to appraisal of such shares holder to be paid the fair value of Company Class A Common Stock such holder’s Dissenting Shares shall cease and such shares of Company Class A Common Stock Dissenting Shares shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into as of the First Effective Time into, and to have become, as of the Effective Timebecome exchangeable solely for, the right to receive, without interest thereon, the Public Merger Consideration. (b) Consideration as provided in Section 2.05. The Company shall give Parent (i) provide prompt notice to Parent of all any demands for appraisal received by the CompanyCompany for dissenters’ rights with respect to any Company Shares, written notices of intent to demand, written withdrawals of such demands, demands and any other instruments served pursuant to Section 262 of the DGCL Sections 471 and 473 received by the Company in connection with and any other documents related thereto received from any Person purporting to seek to exercise dissenters’ rights. Parent shall have the Mergers and (ii) the reasonable opportunity right to participate in and direct all negotiations and Proceedings with respect to demands for appraisal under Applicable Law such demands. Prior to the First Effective Time, the Company shall not, without the prior written consent of Delaware in Parent, make any payment with respect to, or settle or offer to settle, any such demands, or agree to do any of Dissenting Sharesthe foregoing. The Company Prior to the First Effective Time, Parent shall not, except with the prior written consent of Parentthe Company, voluntarily require the Company to make any payment with respect to any demands for appraisal, or settle or offer to settle or settle any such demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available if such settlement would involve payment prior to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall Closing or would otherwise not be returned to Parent contingent upon demandthe Closing.

Appears in 2 contracts

Samples: Merger Agreement (St Jude Medical Inc), Merger Agreement (Abbott Laboratories)

Dissenting Shares. (a) Notwithstanding anything in this Agreement Section 3.1(b), to the contrary, with respect to each share of Company Class A Common Stock held by a holder who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect to such share and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights extent that holders thereof are entitled to appraisal (each such share, a “Dissenting Share”), if any, such Dissenting Shares shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by under Section 262 of the DGCL, shares of Company Common Stock issued and at outstanding immediately prior to the Effective Time, such Time and held by a holder who has properly exercised and perfected his or her demand for appraisal rights under Section 262 of the DGCL (the “Dissenting Shares Shares”) shall no longer not be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except converted into the right to receive the fair value Merger Consideration, but the holders of such Dissenting Shares in accordance with the provisions of shall be entitled to receive such consideration as shall be determined pursuant to Section 262 of the DGCL; provided, however, that (i) if any such holder shall have failed to perfect or Beneficial Owner of Dissenting Shares, shall have effectively withdrawn or lost his or her right to appraisal and payment under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such holder’s shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, Time into the right to receivereceive the Merger Consideration, without any interest thereon, and such shares shall not be deemed to be Dissenting Shares. Any payments required to be made with respect to the Public Dissenting Shares shall be made by Parent (and not the Company or Acquisition Sub), and the Total Common Merger Consideration. (b) Consideration shall be reduced, on a dollar for dollar basis, as if the holder of such Dissenting Shares had not been a stockholder on the Merger Closing Date. Any portion of the Total Common Merger Consideration made available to the Paying Agent pursuant to Section 3.2 to pay for Dissenting Shares will be returned to Parent upon demand. The Company shall give Parent (ia) prompt notice of all any written demands for appraisal received by or payment of the Company, fair value of any shares of Company Common Stock or withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection with the Mergers demands and (iib) the reasonable opportunity to participate in and direct all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law Section 262 of Delaware in respect of Dissenting Sharesthe DGCL. The Prior to the Effective Time, the Company shall will not, except with without the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisalto, or settle or offer to settle settle, any demands for paymentsuch demands, in respect of Dissenting Shares. Any portion or agree to do any of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandforegoing.

Appears in 2 contracts

Samples: Merger Agreement (Steinway Musical Instruments Inc), Merger Agreement (Steinway Musical Instruments Inc)

Dissenting Shares. (a) Notwithstanding anything in any provision of this Agreement to the contrary, with respect to each share shares of Company Class A Common Stock that are issued and outstanding immediately prior to the Effective Time and that are held by a holder stockholders who neither have not voted in favor of the adoption of this Agreement and approval of the Merger or consented thereto in writing with respect and who have properly exercised their right to such share and for which dissent from the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares Merger in accordance with, and shall have complied with all other applicable requirements of, Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such share, a the “Dissenting ShareShares), if any, such Dissenting Shares ) shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value Merger Consideration at or after the Effective Time, but instead shall become the right to receive such consideration as may be determined to be due to the holder of such Dissenting Shares in accordance with the provisions of Section 262 of pursuant to the DGCL, less any required withholding taxes; provided, however, that (i) if any Dissenting Shares held by a holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure who shall have failed to perfect or otherwise) the shall have effectively withdrawn or lost its right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by and payment under Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock DGCL shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, the right to receivereceive the Merger Consideration, without interest thereon, the Public Merger Consideration. (b) The Company shall give Parent (i) prompt notice of all demands for appraisal received by the Company, withdrawals of such demandsthereon and less any required withholding taxes, and any other instruments served shall no longer be considered Dissenting Shares. Any holder of Dissenting Shares who becomes entitled to payment for such holder’s Company Common Stock pursuant to Section 262 of the DGCL shall receive payment therefor only from the Surviving Corporation. The Company shall give the Purchaser prompt notice of any demands received by the Company in connection with for appraisal of shares, and the Mergers and (ii) Purchaser shall have the reasonable opportunity right to participate in all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Company shall not, except Except with the prior written consent of Parentthe Purchaser or as may otherwise be required by applicable law, voluntarily the Company shall not make any payment with respect to any demands for appraisalto, or settle or offer to settle settle, any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandsuch demands.

Appears in 2 contracts

Samples: Merger Agreement (180 Connect Inc.), Merger Agreement (Variflex Inc)

Dissenting Shares. (a) Notwithstanding anything in For purposes of this Agreement to the contraryAgreement, with respect to each share “Dissenting Shares” means shares of Company Class A Common Stock or Company Preferred Stock held as of the Effective Time by a holder Company Stockholder who neither has not voted such Company Stock in favor of the adoption of this Agreement or consented thereto in writing and the Merger and with respect to such share which appraisal shall have been duly demanded and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares in accordance with Section 262 of the DGCL Delaware Act and has not effectively withdrawn or lost its rights forfeited prior to appraisal (each such share, a “Dissenting Share”), if any, such the Effective Time. Dissenting Shares shall not be converted into or represent a the right to receive any portion shares of Parent Common Stock unless such Company Stockholder’s right to appraisal shall have ceased in accordance with the Delaware Act. If such Company Stockholder has so forfeited or withdrawn his, her or its right to appraisal of Dissenting Shares, then (i) as of the Public Merger Consideration and occurrence of such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Timeevent, such holder’s Dissenting Shares shall no longer cease to be outstanding Dissenting Shares and shall automatically be cancelled converted into and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except represent the right to receive the fair value Merger Shares issuable in respect of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; providedCompany Common Stock or Company Preferred Stock, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be, pursuant to Section 1.5(a), and (ii) shall forfeit promptly following the right to appraisal occurrence of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Sharesevent and, and each such share of Company Class A Common Stock shall, to the fullest extent permitted if requested by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective TimeParent, the right to receive, without interest thereonproper surrender of such person’s Company Stock Certificate, the Public Parent shall deliver to such Company Stockholder a certificate representing the Merger ConsiderationShares to which such holder is entitled pursuant to Section 1.5(a). (b) The Company shall give the Parent (i) prompt notice of all any written demands for appraisal received by the Companyof any Company Stock, withdrawals of such demands, and any other instruments served pursuant that relate to Section 262 of the DGCL such demands received by the Company in connection with the Mergers and (ii) the reasonable opportunity to participate in all Proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting SharesCompany. The Company shall not, except with the prior written consent of Parentthe Parent (which such consent shall not be unreasonably withheld, voluntarily conditioned or delayed), make any payment with respect to any demands for appraisal, or settle appraisal of Company Stock or offer to settle or settle any such demands for payment, in respect of Dissenting Shares. Any portion unless required by a court of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares State of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandDelaware having jurisdiction thereof.

Appears in 2 contracts

Samples: Merger Agreement (ViewRay, Inc.), Merger Agreement (ViewRay, Inc.)

Dissenting Shares. (a) Notwithstanding anything in any provision of this Agreement to the contrarycontrary and to the extent available under the Cayman Companies Law, with respect Shares that are outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and that are held by a holder shareholders who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect to such share shall have validly exercised and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its their rights to appraisal dissent from the Merger in accordance with Section 238 of the Cayman Companies Law (each such sharecollectively, a the “Dissenting ShareShares), if any, such ; holders of Dissenting Shares being referred to as “Dissenting Shareholders”) shall be cancelled and the Dissenting Shareholders shall not be converted into or represent a right entitled to receive any portion of the Public Per Share Merger Consideration and such holders and Beneficial Owner thereof shall instead be entitled to such rights as are granted by Section 262 receive only the payment of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares held by them determined in accordance with the provisions of Section 262 238 of the DGCL; providedCayman Companies Law, however, except that all shares held by Dissenting Shareholders who shall have failed to perfect or who effectively shall have withdrawn or lost their rights to dissent from the Merger under Section 238 of the Cayman Companies Law shall thereupon (i) if any holder or Beneficial Owner of not be deemed to be Dissenting Shares, under the circumstances permitted by Shares and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock be and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been cancelled and converted into and to have becomeinto, as of the Effective Time, the right to receivereceive the Per Share Merger Consideration, without any interest thereon, in the Public Merger Considerationmanner provided in ‎Section 2.02(a). (b) The Company shall give Parent (i) prompt notice of all any demands for appraisal received by the Company, attempted withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL Applicable Law and received by the Company in connection with relating to its shareholders’ rights to dissent from the Mergers Merger and (ii) the reasonable opportunity to participate in direct all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharesthe Cayman Companies Law. The Company shall not, except with the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisal, or settle appraisal or offer to settle or settle any such demands for payment, in respect or approve any withdrawal of Dissenting Shares. Any portion any such demands. (c) In the event that any written notices of objection to the Merger are served by any shareholders of the Public Merger Consideration made available to the Paying Agent Company pursuant to Section 3.03 section 238(2) of the Cayman Companies Law, the Company shall serve written notice of the authorization of the Merger on such shareholders pursuant to pay for shares section 238(4) of the Cayman Companies Law within five days of obtaining the Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandShareholder Approval at the Company Shareholder Meeting.

Appears in 2 contracts

Samples: Merger Agreement (Shanda Interactive Entertainment LTD), Merger Agreement (Ku6 Media Co., LTD)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect Shares outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and held by a holder who neither voted did not vote in favor of adoption of this Agreement the Merger (or consented consent thereto in writing with respect writing) and is entitled to such share demand and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of demands appraisal in respect of such shares Shares (“Dissenting Shares”) pursuant to, and who complies in accordance with all respects with, Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such share, a the Dissenting ShareAppraisal Rights), if any, such Dissenting Shares shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof ) shall be entitled to such rights as are granted by Section 262 payment of the DGCL, and fair value of such Dissenting Shares in accordance with the Appraisal Rights (it being understood that at the Effective Time, such Dissenting Shares shall no longer be outstanding and outstanding, shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except thereto other than the right to receive the appraised value of such Dissenting Shares to the extent afforded by the Appraisal Rights); provided, however, that if any such holder shall fail to perfect or otherwise shall waive, withdraw or lose the right to payment of the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCLAppraisal Rights, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) then the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner to be paid the fair value of such holder’s Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock cease and such shares of Company Class A Common Stock Dissenting Shares shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective TimeTime into, and to have become exchangeable solely for the right to receive, without interest thereon, the Public Merger Consideration. (b) The Company shall give Parent (i) prompt notice to Purchaser of all any demands for appraisal received by the CompanyCompany for appraisal of any Shares, of any withdrawals of such demands, demands and of any other instruments served pursuant to Section 262 of the DGCL and received by the Company in connection with relating to Appraisal Rights, and Purchaser shall have the Mergers and (ii) the reasonable opportunity right to participate in and control all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Prior to the Effective Time, the Company shall not, except with without the prior written consent of ParentPurchaser, voluntarily make any payment with respect to any demands for appraisalto, or settle or compromise or offer to settle or compromise, any demands for paymentsuch demand, in respect of Dissenting Shares. Any portion or agree to do any of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandforegoing.

Appears in 2 contracts

Samples: Merger Agreement (International Paper Co /New/), Merger Agreement (Temple Inland Inc)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect to each Each share of Company Class A Common Stock which is issued and outstanding immediately prior to the Effective Time and which is held by a holder who neither has not voted such share in favor of adoption the Merger, who shall have delivered a written demand for appraisal of this Agreement or consented thereto in writing with respect to such share in the manner provided by Delaware Law and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares in accordance with Section 262 who, as of the DGCL and has Effective Time, shall not have effectively withdrawn or lost its rights such right to appraisal (each such share, a “Dissenting Share”), if any, such Dissenting Shares ) shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such Consideration. The holders and Beneficial Owner thereof shall be entitled only to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Delaware Law (“Section 262”). Each holder of Dissenting Shares who becomes entitled to payment for such shares pursuant to Section 262 shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except receive payment therefor from the right to receive the fair value of such Dissenting Shares Surviving Corporation in accordance with the provisions of Section 262 of the DGCLDelaware Law; provided, however, that (i) if any such holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails shall have failed to establish his, his or her or its entitlement to appraisal rights as provided in the DGCL Section 262, (ii) if any such holder of Dissenting Shares shall have effectively withdrawn his or her demand for appraisal of such shares or lost his or her right to appraisal and payment for shares under Section 262 or (iii) if neither any holder of Dissenting Shares nor the Surviving Corporation shall have filed a court petition demanding a determination of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief value of all Dissenting Shares within the time provided by in Section 262 of the DGCLDelaware Law, such holder(s) or Beneficial Owner(s) (as the case may be) holder shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter shall be deemed to have treated as if it had been converted into and to have becomeconverted, as of the Effective Time, the into a right to receivereceive the Merger Consideration, without interest thereon, from the Public Merger Consideration. (b) Surviving Corporation. The Company shall give Parent (i) prompt written notice of all any demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection with for appraisal of shares of Company Common Stock, and Parent shall have the Mergers and (ii) the reasonable opportunity right to participate in all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Company shall not, except with the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisalto, or settle or offer to settle settle, any demands for payment, in respect of Dissenting Sharessuch demands. Any portion communication to be made by the Company to any holder of the Public Merger Consideration made available Company Common Stock with respect to such demands shall be submitted to Parent in advance and shall not be presented to any holder of Company Common Stock prior to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for receiving Parent’s consent, which appraisal rights have been perfected shall not be returned to Parent upon demandunreasonably delayed or withheld.

Appears in 2 contracts

Samples: Merger Agreement (Crane & Co Inc), Merger Agreement (American Bank Note Holographics Inc)

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Dissenting Shares. (a) Notwithstanding anything to the contrary contained in this Agreement Agreement, but only to the contraryextent required by the DGCL, with respect to each share shares of Company Class A Common Capital Stock held by a holder who neither voted did not vote in favor of adoption of this Agreement the Merger or consented consent thereto in writing with respect to such share and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights execute an enforceable waiver of appraisal in respect rights to the extent permitted by applicable Legal Requirement and who is entitled to demand and has made a proper demand for appraisal of such shares of Company Capital Stock in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights (such shares of Company Capital Stock being referred to appraisal (each such share, a collectively as the “Dissenting ShareShares), if any, such Dissenting Shares ) shall not be converted into or represent a the right to receive any portion of the Public applicable Merger Consideration and such holders and Beneficial Owner thereof in accordance with Section 2.02, but shall be entitled only to such rights as are granted by Section 262 the DGCL to a holder of the DGCL, and at Dissenting Shares. At the Effective Time, such all Dissenting Shares shall no longer be outstanding and shall automatically be cancelled canceled and shall cease to exist, and such each holder of Dissenting Shares shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided. Notwithstanding the foregoing, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses Shares shall lose their status as such (through failure to perfect perfect, withdrawal or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have becomethen, as of the later of the Effective TimeTime or the date of loss of such status, such shares shall automatically be converted into and shall represent only the right to receivereceive the applicable Merger Consideration and Additional Merger Consideration, without interest thereon, promptly following the Public Merger Consideration. (b) surrender of the certificate or certificates representing such shares of Company Capital Stock. The Company shall give Parent (i) prompt notice of all demands for appraisal any written demand received by the Company, withdrawals any withdrawal of any such demands, demand and any other instruments served pursuant demand, notice or instrument delivered to Section 262 of the DGCL received by the Company in connection prior to the Effective Time that relate to any such demand for payment. The Company shall not make any payment or settlement offer prior to the Effective Time with respect to any such demand without the Mergers prior written consent of Parent and (ii) shall give Parent the reasonable opportunity to participate in all Proceedings negotiations and proceedings that take place prior to the Effective Time with respect to demands for appraisal payment under Applicable Law of Delaware in respect of Dissenting Shares. The Company shall not, except with the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisal, or settle or offer to settle any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandDGCL.

Appears in 2 contracts

Samples: Merger Agreement (American Well Corp), Agreement and Plan of Merger (American Well Corp)

Dissenting Shares. (a) Notwithstanding anything in any other provision of this Agreement to the contrary, with respect to each share shares of Company Class A Common Stock that are outstanding immediately prior to the Effective Time and which are held by a holder stockholders who neither shall have not voted in favor of adoption of this Agreement the Merger or consented thereto in writing with respect to such share and who properly shall have demanded payment of the fair value for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such sharecollectively, a the Dissenting ShareDissenters’ Shares), if any, such Dissenting Shares ) shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the Common Stock Merger Consideration. Such stockholders instead shall be entitled to receive payment of the fair value of such Dissenting Shares shares held by them in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure except that all Dissenters’ Shares held by stockholders who shall have failed to perfect or otherwise) the right to dissent who effectively shall have withdrawn or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal otherwise lost their rights as provided in dissenting stockholders under the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have becomebecome exchangeable, as of the Effective Time, for the right to receive, without any interest thereon, the Public Common Stock Merger Consideration. (bConsideration upon surrender in the manner provided in Section 2.4 of the certificate(s) that, immediately prior to the Effective Time, evidenced such shares. The Company shall give Parent Acquiror: (ia) prompt notice of all any written demands for appraisal received by the Companypayment of fair value of any shares of Company Common Stock, attempted withdrawals of such demands, demands and any other instruments served pursuant to Section 262 of the DGCL and received by the Company in connection with the Mergers relating to stockholders’ dissenters’ rights; and (iib) the reasonable opportunity to participate in all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law the DGCL consistent with the obligations of Delaware in respect of Dissenting Sharesthe Company thereunder. The Company shall not, except with the prior written consent of ParentAcquiror (which consent shall not be unreasonably withheld, voluntarily conditioned or delayed), (i) make any payment with respect to any demands for appraisalsuch demand, or settle or (ii) offer to settle or settle any demands demand for payment, payment of fair value or (iii) waive any failure to timely deliver a written demand for payment of fair value or timely take any other action to perfect payment of fair value rights in respect of Dissenting Shares. Any portion of accordance with the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandDGCL.

Appears in 2 contracts

Samples: Merger Agreement (Guaranty Federal Bancshares Inc), Merger Agreement (QCR Holdings Inc)

Dissenting Shares. (a) Notwithstanding anything to the contrary in this Agreement Agreement, shares of Chancellor 7% Convertible Preferred Stock and Chancellor $3.00 Convertible Preferred Stock outstanding immediately prior to the contrary, with respect to each share of Company Class A Common Stock Effective Time and held by a holder who neither has not voted in favor of adoption of this Agreement the Merger or consented thereto and who properly demands in writing with respect to such share and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares of Chancellor 7% Convertible Preferred Stock or Chancellor $3.00 Convertible Preferred Stock, as the case may be, in accordance with Section 262 of the DGCL Delaware Code and has who shall not effectively have withdrawn such demand or lost its rights to otherwise have forfeited appraisal (each such sharerights, a “Dissenting Share”), if any, such Dissenting Shares shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair Merger Consideration therefor ("Dissenting Shares"). Such stockholders shall be entitled to receive payment of the appraised value of such Dissenting Shares shares of Chancellor 7% Convertible Preferred Stock or Chancellor $3.00 Convertible Preferred Stock, as the case may be, held by them in accordance with the provisions of Section 262 of the DGCL; providedDelaware Code, however, except that (i) if any holder or Beneficial Owner of all Dissenting Shares, under the circumstances permitted Shares held by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure stockholders who shall have failed to perfect or otherwise) the right to dissent who effectively shall have withdrawn or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal lost their rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock securities under Section 262 shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have becomeinto, as of the Effective Time, the right to receive, without any interest thereon, the Public Merger Consideration. (b) The Company shall give Parent (i) prompt notice of all demands for appraisal received by , upon surrender in the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 manner provided in this Article I of the DGCL received certificate or certificates that formerly represented such securities. Chancellor shall take all actions required to be taken by it in accordance with Section 262(d) of the Company in connection with the Mergers and (ii) the reasonable opportunity to participate in all Proceedings Delaware Code with respect to demands for appraisal under Applicable Law the holders of Delaware in respect of Dissenting Shares. The Company shall not, except with the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisal, or settle or offer to settle any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Chancellor 7% Convertible Preferred Stock for which appraisal rights have been perfected shall be returned to Parent upon demand.and Chancellor $3.00

Appears in 2 contracts

Samples: Merger Agreement (Chancellor Media Corp of Los Angeles), Agreement and Plan of Merger (Hicks Thomas O)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect to each share of Company Class A Common Stock held by a holder who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect Share, if any, as to such share and for which the holder or Beneficial Owner has thereof shall have (i) properly and validly perfected its statutory rights complied with the provisions of appraisal in respect of such shares in accordance with Section 262 of the DGCL as to appraisal rights and has (ii) not effectively withdrawn or lost its such holder’s rights to appraisal (each such shareeach, a “Dissenting Share”), if any, such Dissenting Shares shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof holder shall be entitled to such rights as are granted by Section 262 payment, solely from the Surviving Corporation, of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of such the Dissenting Shares to the extent permitted by and in accordance with the provisions of Section 262 of the DGCL and Dissenting Shares shall be treated in accordance with Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, Shares (x) under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal rights in respect of such Dissenting Shares, (iiy) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its such holder’s entitlement to appraisal rights as provided in the DGCL or (iiiz) if a court takes or fails to take any action the consequence of competent jurisdiction shall determine which is that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of payment for such holder’s Dissenting Shares under the DGCL, then in each such holder(s) case, such holder or Beneficial Owner(s) holders (as the case may be) shall forfeit the right to appraisal rights in respect of such shares of Company Class A Common Stock Dissenting Shares and such shares of Company Class A Common Stock Shares shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock Share shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, the right to receive, without interest thereon, the Public Merger Consideration. (b) The Company shall give Parent (i) prompt notice of any written demands received by the Company for appraisal of Shares and the opportunity to direct all negotiations and proceedings with respect to such demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant to under Section 262 of the DGCL received by the Company in connection with the Mergers and (ii) the reasonable opportunity to participate in all Proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting SharesDGCL. The Company shall not, except with the prior written consent of Parent, (i) voluntarily make any payment with respect to any demands for appraisalappraisal for Dissenting Shares, or settle or (ii) offer to settle any demands such demands, (iii) waive any failure to timely deliver a written demand for payment, appraisal in respect of Dissenting Shares. Any portion accordance with the DGCL or (iv) agree to do any of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandforegoing.

Appears in 2 contracts

Samples: Merger Agreement (Athlon Energy Inc.), Merger Agreement (Encana Corp)

Dissenting Shares. (a) Notwithstanding anything in any provision of this Agreement to the contrary, with respect Company Common Shares issued and outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and held by a holder who neither has not voted in favor of adoption of this Agreement or consented thereto in writing with respect to such share and for which the holder or Beneficial Owner who has properly and validly perfected its statutory exercised appraisal rights of appraisal in respect of such shares Company Common Shares in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights (such Company Common Shares being referred to appraisal (each such share, a collectively as the “Dissenting Share”), if any, Shares” until such Dissenting Shares time as such holder fails to perfect or otherwise loses such holder’s appraisal rights under the DGCL with respect to such Company Common Shares) shall not be converted into or represent a right to receive any a portion of the Public Merger Consideration and such holders and Beneficial Owner thereof Consideration, but shall be entitled canceled and shall cease to exist and shall instead represent the right only to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any if, after the Effective Time, such holder or Beneficial Owner of Dissenting Sharesfails to perfect, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the such holder’s right to dissent or its right for appraisal pursuant to Section 262 of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (Company Common Shares shall be treated as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have if they had been converted into and to have become, as of the Effective Time, Time into the right to receivereceive the applicable portion of the Merger Consideration, if any, to which such holder is entitled pursuant to Section 2.8, without interest thereon, the Public Merger Consideration. (b) . The Company shall give Parent (i) provide Buyer prompt written notice of all any demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection with for appraisal of Company Common Shares, any withdrawal of any such demand and any other demand, notice or instrument delivered to the Mergers Company prior to the Effective Time pursuant to the DGCL that relates to such demand, and (ii) Buyer shall have the reasonable opportunity and right to participate in direct all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Company shall not, except Except with the prior written consent of ParentBuyer, voluntarily the Company shall not make any payment with respect to any demands for appraisalto, or settle or offer to settle settle, any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandsuch demands.

Appears in 2 contracts

Samples: Merger Agreement (Snap Interactive, Inc), Merger Agreement (LiveXLive Media, Inc.)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect Shares outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and held by a holder who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect is entitled to such share demand and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of demands appraisal in respect of such shares Shares (“Dissenting Shares”) pursuant to, and who complies in accordance with all respects with, Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such share, a the Dissenting ShareAppraisal Rights), if any, such Dissenting Shares shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof ) shall be entitled to such rights as are granted by Section 262 payment of the DGCL, fair value of such Dissenting Shares in accordance with the Appraisal Rights (and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder of Dissenting Shares shall cease to have any rights with respect thereto, except the right to receive the fair appraised value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL); provided, however, that (i) if any such holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure shall fail to perfect or otherwise) otherwise shall waive, withdraw or lose the right to dissent or its under the Appraisal Rights, then the right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner to be paid the fair value of such holder’s Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock cease and such shares of Company Class A Common Stock Dissenting Shares shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective TimeTime into, and to have become exchangeable solely for the right to receive, without interest thereon, receive the Public Merger Consideration. (b) The Company shall give Parent (i) serve prompt notice to Purchaser of all any demands for appraisal received by the Company, or withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL demands received by the Company in connection with for dissenter’s rights of any Shares, and Purchaser shall have the Mergers and (ii) the reasonable opportunity right to participate in all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Prior to the Effective Time, the Company shall not, except with without the prior written consent of ParentPurchaser, voluntarily make any payment with respect to any demands for appraisalto, or settle or compromise or offer to settle or compromise, any demands for paymentsuch demand, in respect or agree to do any of Dissenting Sharesthe foregoing. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 2.2(a) to pay for shares of Company Class A Common Stock the Shares for which appraisal rights have been perfected shall be returned to Parent upon demand.

Appears in 2 contracts

Samples: Merger Agreement (Altra Holdings, Inc.), Merger Agreement (Tb Woods Corp)

Dissenting Shares. (a) Notwithstanding anything to the contrary contained in this Agreement to the contraryAgreement, with respect to each share shares of Company Class A Common Stock held by a holder who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect to such share and has made a proper demand for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares in accordance with Section 262 of the DGCL and who has not effectively withdrawn or lost its rights otherwise complied with all applicable provisions of Section 262 of the DGCL (any such shares being referred to appraisal (each such share, a as “Dissenting Share”), if any, Shares” until such Dissenting Shares time as such holder fails to perfect or otherwise loses such holder’s appraisal rights under Section 262 of the DGCL with respect to such shares) shall not be converted into or represent a the right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof in accordance with Section 1.6, but shall be entitled only to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease DGCL to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses . (b) If any Dissenting Share shall lose its status as such (through failure to perfect or otherwise) ), then, as of the later of the Effective Time or the date of loss of such status, such share shall automatically be converted into and shall represent only the right to dissent receive Merger Consideration in accordance with Section 1.6, without interest thereon, upon surrender of the Company Stock Certificate or its right for appraisal transfer of the Company Book Entry Share formerly representing such Dissenting Shares, share and Parent shall promptly deposit (iior cause to be deposited) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled Exchange Fund additional cash in an amount sufficient to pay the relief provided by Section 262 cash portion of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal Merger Consideration in respect of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute that are no longer Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, the right to receive, without interest thereon, the Public Merger Consideration. (bc) The Company shall give Parent (i) prompt notice of all demands any written demand for appraisal received by the CompanyCompany prior to the Effective Time pursuant to the DGCL, withdrawals any withdrawal of any such demands, demand and any other instruments served demand, notice or instrument delivered to the Company prior to the Effective Time pursuant to Section 262 of the DGCL received by the Company in connection with the Mergers and (ii) the reasonable opportunity to participate in all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharesany such demand, notice or instrument. The Company shall not, except with the prior written consent of Parent, not voluntarily make any payment or settlement offer prior to the Effective Time with respect to any demands for appraisalsuch demand, notice or settle instrument unless Parent shall have given its written consent to such payment or offer to settle any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandsettlement offer.

Appears in 2 contracts

Samples: Merger Agreement (Cavium, Inc.), Merger Agreement (Marvell Technology Group LTD)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect Common Shares that are outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and that are held by a holder any Person who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect is entitled to such share demand, and for which the holder or Beneficial Owner has who properly and validly perfected its statutory rights of demands, appraisal in respect of such shares Common Shares pursuant to, and who complies in all respects with, Section 262 of the DGCL (such Section, “Section 262” and, such Common Shares, “Dissenting Shares”) shall not be converted into the right to receive the Merger Consideration as provided in Section 2.1(a), but rather, the holders of Dissenting Shares shall be entitled only to payment of the fair value of such Dissenting Shares in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such shareand, a “Dissenting Share”), if any, such Dissenting Shares shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder holders shall cease to have any rights right with respect thereto, except the right to receive the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of and any declared but unpaid dividends having a record date prior to the DGCLEffective Time); provided, however, that (i) if any such holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure shall fail to perfect or otherwise) the right to dissent otherwise shall waive, withdraw or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit lose the right to appraisal under Section 262, then the right of such shares holder to be paid the fair value of Company Class A Common Stock such holder’s Dissenting Shares shall cease and such shares of Company Class A Common Stock Dissenting Shares shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into as of the Effective Time into, and to have becomebecome exchangeable solely for, the right to receive the Merger Consideration (without interest thereon) as provided in Section 2.1(a). The Company shall notify Gannett as promptly as reasonably practicable of any demands received by the Company for appraisal of any Common Shares, and Gannett shall have the right to participate in all negotiations and proceedings with respect to such demands. Prior to the Effective Time, the right to receive, without interest thereon, the Public Merger Consideration. (b) The Company shall give Parent (i) prompt notice of all demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection with the Mergers and (ii) the reasonable opportunity to participate in all Proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Shares. The Company shall not, except with without the prior written consent of ParentGannett (which consent shall not be unreasonably withheld, delayed or conditioned), voluntarily make any payment with respect to any demands for appraisalto, or settle or offer to settle settle, any demands for paymentsuch demands, in respect or agree to do any of Dissenting Sharesthe foregoing. Any portion of the Public Merger Consideration held in the Merger Fund in respect of payment made available to the Paying Agent pursuant to Section 3.03 2.2(a) to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected Dissenting Shares shall be returned to Parent Gannett upon demand.

Appears in 2 contracts

Samples: Merger Agreement (Gannett Co Inc /De/), Merger Agreement (Belo Corp)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect Shares that are issued and outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and that are held by a holder stockholders who neither voted are entitled to demand and are properly demanding appraisal rights pursuant to, and who are complying in favor all respects with, the provisions of adoption Section 262 of this Agreement the Corporation Law (the “Dissenting Shares”) shall not be converted into or consented thereto in writing with respect be exchangeable for the right to receive the Merger Consideration, but shall be converted into the right to receive such share consideration as may be determined to be due to the holders of Dissenting Shares pursuant to Section 262 of the Corporation Law, unless and for which until such holders shall have failed to perfect or shall have effectively withdrawn or lost their rights to appraisal under Section 262 of the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares Corporation Law. Dissenting Shares shall be treated in accordance with Section 262 of the DGCL and has not Corporation Law. If any such holder shall have failed to perfect or shall have effectively withdrawn or lost its rights such right to appraisal (each such share, a “Dissenting Share”), if anyappraisal, such Dissenting holder’s Shares shall not thereupon be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right become exchangeable only for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, the right to receive, as of the later of the Effective Time and the time that such right to appraisal shall have been irrevocably lost, withdrawn or expired, the Merger Consideration in accordance with Section 3.01, without any interest thereon, the Public Merger Consideration. (b) . The Company shall give Parent Acquiror and Merger Sub (ia) prompt notice of all any written demands for appraisal received by the Companyof any Shares (or written threats thereof), withdrawals or attempted withdrawals of such demands, demands and any other instruments served pursuant to Section 262 of the DGCL Corporation Law and received by the Company in connection with relating to rights to be paid the Mergers “fair value” of Dissenting Shares, and (iib) the reasonable opportunity right to participate in and direct all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharesthe Corporation Law. The Company shall not, except with the prior written consent of ParentAcquiror (which consent shall not be unreasonably conditioned, withheld or delayed), voluntarily make or agree to make any payment with respect to any demands for appraisalappraisals of capital stock of the Company, or settle or offer to settle or settle any demands for paymentsuch demands, in respect approve any withdrawal of Dissenting Shares. Any portion any such demands, or agree to do any of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandforegoing.

Appears in 2 contracts

Samples: Merger Agreement (News Corp), Merger Agreement (Move Inc)

Dissenting Shares. (a) Notwithstanding anything in any provision of this Agreement to the contrary, with respect Company Shares that are outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and that are held by a holder stockholders who neither shall have not voted in favor of adoption of this Agreement the Merger or consented thereto in writing with respect to and who shall have demanded properly in writing an appraisal for such share and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares Company Shares in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its their rights to appraisal of such Company Shares under Section 262 of the DGCL (each such sharecollectively, a the “Dissenting ShareCompany Shares), if any, such Dissenting Shares ) shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair Merger Consideration. From and after the Effective Time, a holder of Dissenting Company Shares shall not have and shall not be entitled to exercise any of the voting rights or other rights of a stockholder of the Surviving Corporation. Such stockholders shall be entitled to receive payment of the appraised value of such Dissenting Company Shares held by them in accordance with the provisions of such Section 262 of the DGCL; provided262, however, except that (i) if any holder or Beneficial Owner of all Dissenting Shares, under the circumstances permitted Company Shares held by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure stockholders who shall have failed to perfect or otherwise) the right who effectively shall have withdrawn or lost their rights to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Company Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that under such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed Table of Contents to have been converted into and to have becomebecome exchangeable for, as of the Effective Time, the right to receivereceive the Merger Consideration, without any interest thereon, upon surrender, in the Public Merger Considerationmanner provided in Section 2.9, of the Certificate or Certificates that formerly evidenced such Dissenting Company Shares. (b) The Company shall give Parent (i) prompt notice of all any demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant instruments, notices, petitions, or other communications received from stockholders or provided to Section 262 of the DGCL received stockholders by the Company in connection with the Mergers respect to any Dissenting Company Shares or shares claimed to be Dissenting Company Shares, and (ii) the reasonable opportunity to participate in direct all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law the DGCL. Payment of Delaware in respect any amount payable to the holders of Dissenting SharesCompany Shares shall be the obligation of the Company. The Company shall not, except with the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisal, or settle appraisal or offer to settle or settle any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandsuch demands.

Appears in 2 contracts

Samples: Merger Agreement, Merger Agreement (Intel Corp)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect to each share shares of Company Class A Common Stock that are outstanding immediately prior to the Effective Time and that are held by a holder any Person who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect is entitled to such share demand and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of demands appraisal in respect of such shares of Company Common Stock pursuant to, and who complies in all respects with, Section 262 of the DGCL (“Dissenting Shares”) shall not be converted into Merger Consideration as provided in Section 2.1(c), but rather the holders of Dissenting Shares shall be entitled to payment by the Surviving Corporation of the fair value of such Dissenting Shares in accordance with Section 262 of the DGCL (it being understood and has not effectively withdrawn or lost its rights to appraisal (each such share, a “Dissenting Share”), if any, such Dissenting Shares shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and acknowledged that at the Effective Time, such Dissenting Shares shall no longer be outstanding and outstanding, shall automatically be cancelled canceled and shall cease to exist, exist and such holder shall cease to have any rights with respect thereto, except thereto other than the right to receive the fair value value” of such Dissenting Shares as determined in accordance with the provisions of Section 262 of the DGCL); provided, however, that (i) if any such holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure shall fail to perfect or otherwise) otherwise shall waive, withdraw or lose the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by under Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit then the right to appraisal of such shares holder to be paid the fair value of Company Class A Common Stock such holder’s Dissenting Shares shall cease and such shares of Company Class A Common Stock Dissenting Shares shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time into, and shall have become exchangeable solely for the right to receive, the Merger Consideration as provided in Section 2.1(c). The Company shall serve prompt notice to Parent of any demands received by the Company for appraisal of any shares of Company Common Stock, and Parent shall have the right to participate in all negotiations and actions with respect to such demands at Parent’s sole expense. Prior to the Effective Time, the right to receive, without interest thereon, the Public Merger Consideration. (b) The Company shall give Parent (i) prompt notice of all demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection with the Mergers and (ii) the reasonable opportunity to participate in all Proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Shares. The Company shall not, except with without the prior written consent of Parent, voluntarily (i) make any payment with respect to any demands for appraisalto, or settle or offer to settle settle, any demands such demands, (ii) waive any failure to timely deliver a written demand for paymentappraisal or timely take any other action to perfect appraisal rights in accordance with the DGCL, in respect of Dissenting Shares. Any portion or (iii) agree to do any of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandforegoing.

Appears in 2 contracts

Samples: Merger Agreement (Flir Systems Inc), Merger Agreement (Teledyne Technologies Inc)

Dissenting Shares. (a) Notwithstanding anything to the contrary set forth in this Agreement Agreement, all Company Shares that are issued and outstanding immediately prior to the contrary, with respect to each share of Company Class A Common Stock Effective Time and held by a holder the stockholders of the Company who shall have neither voted in favor of adoption of this Agreement or the Merger nor consented thereto in writing with respect and who are entitled to such share demand and for which the holder or Beneficial Owner has shall have properly and validly perfected its demanded their statutory rights of appraisal in respect of such shares Company Shares in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such sharecollectively, a “Dissenting ShareCompany Shares), if any, such Dissenting Shares ) shall not be converted into into, or represent a the right to receive any portion of receive, the Public Merger Consideration and unless such holders and Beneficial Owner thereof stockholders fail to perfect, effectively withdraw or waive or otherwise lose the right to appraisal. Such Company Stockholders shall be entitled to such rights as are granted by Section 262 receive payment of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair appraised value of such Dissenting Company Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, except that (i) if any holder or Beneficial Owner all Dissenting Company Shares held by the stockholders of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure Company who shall have failed to perfect or otherwise) the right who shall have effectively withdrawn or waived or lost their rights to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Company Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that under such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) DGCL shall forfeit the right no longer be considered to appraisal of such shares of be Dissenting Company Class A Common Stock Shares and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into into, and to have becomebecome exchangeable for, as of the Effective Time, the right to receivereceive the Merger Consideration, without interest thereon, upon surrender of the Public Merger Considerationcertificate or certificates that formerly evidenced such Company Shares in the manner provided in Section 3.9. (b) The Company shall give Parent (iA) prompt notice of all any demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL Delaware Law and received by the Company in connection with the Mergers respect of Dissenting Company Shares and (iiB) the reasonable opportunity to participate in direct all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Delaware Law of Delaware in respect of Dissenting Company Shares. The Company shall not, and shall not agree to, except with the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisal, or settle or offer to settle any such demands for payment, or waive any failure to timely deliver a written demand for appraisal or take any other action with respect to such demand, in respect of Dissenting Company Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demand.

Appears in 2 contracts

Samples: Merger Agreement (Peregrine Semiconductor Corp), Merger Agreement (Peregrine Semiconductor Corp)

Dissenting Shares. (a) Notwithstanding anything to the contrary set forth in this Agreement Agreement, no Shares issued and outstanding immediately prior to the contrary, with respect to each share of Company Class A Common Stock held by a holder who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect to such share Effective Time and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares which appraisal rights shall have been perfected in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal in connection with the Merger (each such sharecollectively, a “Dissenting ShareShares), if any, such Dissenting Shares ) shall not be converted into or represent a right to receive any that portion of the Public Merger Consideration and otherwise payable to the holder of such holders and Beneficial Owner thereof Dissenting Shares as provided in Section 2.2, but shall instead be entitled converted into the right to receive such consideration as may be determined to be due with respect to such rights as are granted by Section 262 Dissenting Shares pursuant to the DGCL. Each holder of Dissenting Shares who, pursuant to the provisions of the DGCL, and at becomes entitled to payment of the Effective Time, fair value of such shares shall receive payment therefor in accordance with the DGCL (but only after the value therefor shall have been agreed upon or finally determined pursuant to the DGCL). In the event that any holder of Shares fails to make an effective demand for payment or fails to perfect its appraisal rights as to its Shares or any Dissenting Shares shall no longer otherwise lose their status as Dissenting Shares, then any such shares shall be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except converted into the right to receive the fair value Merger Consideration issuable pursuant to Section 2.2 in respect of such Shares as if such Shares had never been Dissenting Shares Shares, in accordance with and following the provisions of Section 262 satisfaction of the DGCL; provided, however, that applicable requirements and conditions set forth in Section 2.3. The Company shall give Parent prompt notice (and in no event more than two Business Days) of (i) if any demand received by the Company for appraisal of Shares (and shall give Parent the opportunity to participate in all negotiations and proceedings with respect to any such demand) or (ii) any notice of exercise by any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and Shares of appraisal rights in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, the right to receive, without interest thereon, the Public Merger Consideration. (b) The Company shall give Parent (i) prompt notice of all demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection with the Mergers and (ii) the reasonable opportunity to participate in all Proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Shares. The Company shall notagrees that, except with the Parent’s prior written consent of Parentconsent, it shall not voluntarily make any payment or offer to make any payment with respect to any demands for appraisalto, or settle or offer to settle settle, any demands such demand for payment, in respect appraisal or exercise of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandrights.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Red Cat Holdings, Inc.), Merger Agreement (Red Cat Holdings, Inc.)

Dissenting Shares. (a) Notwithstanding anything in any other provision of this Agreement to the contrary, with respect Shares that are outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and which are held by a holder Stockholders who neither shall have not voted in favor of adoption of this Agreement the Merger or consented thereto in writing with respect and who shall be entitled to and shall have demanded properly in writing appraisal for such share and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares Shares in accordance with Section 262 of the DGCL DGCL, and has who shall not effectively have withdrawn such demand or lost its otherwise have forfeited appraisal rights to appraisal (each such sharecollectively, a “the "Dissenting Share”), if any, such Dissenting Shares Shares") shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair Merger Consideration. Such Stockholders shall be entitled to receive payment of the appraised value of such Dissenting Shares held by them in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure except that all Dissenting Shares held by Stockholders who shall have failed to perfect or otherwise) the right to dissent who effectively shall have withdrawn, forfeited or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal lost their rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock Shares under the DGCL shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have becomebecome exchangeable for, as of the Effective Time, the right to receive, without any interest thereon, the Public Exchange Merger ConsiderationConsideration attributable to such Shares, upon surrender, in the manner provided in Section 2.2, of the Certificate or Certificates that formerly evidenced such Shares. (b) The Company shall give Parent (i) Acquiror prompt notice of all any demands for appraisal received by the Companyit, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL and received by the Company in connection with the Mergers and (ii) the reasonable opportunity to participate in relating thereto. The Company and Acquiror shall jointly direct all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting SharesLaw. The Company shall not, except with the prior written consent of ParentAcquiror, voluntarily make any payment with respect to any demands for appraisal, or settle or offer to settle settle, or settle, any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandsuch demands.

Appears in 2 contracts

Samples: Merger Agreement (Dauten Kent P), Merger Agreement (Iron Mountain Inc /De)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect to each share the shares of Company Class A New Core Common Stock which are outstanding immediately before the Effective Time and which are held by a holder shareholders who neither shall not have voted such shares in favor of adoption this Agreement, who shall have delivered to New Core a written notice of this Agreement or consented thereto in writing with respect intent to such share and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect demand payment of such shares in accordance the manner provided in Sections 607.1301 through 607.1333 (collectively, the “Appraisal Statute”) and who shall have otherwise complied fully with Section 262 all of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such share, a “Dissenting Share”), if any, such Dissenting Shares requirements of the Appraisal Statute shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except exchangeable for the right to receive the fair value of such Dissenting Shares consideration provided in accordance with the provisions of Section 262 of the DGCLthis Agreement; provided, however, that (ia) if any each of such shares (herein referred to as the “Dissenting Shares”) shall nevertheless be cancelled and extinguished in accordance with this Agreement; (b) the holder or Beneficial Owner of Dissenting Shares, under upon full compliance with the circumstances permitted by and requirements of the Appraisal Statute, shall be entitled to payment of the fair value of such shares in accordance with the DGCL, affirmatively provisions of the Appraisal Statute; and effectively withdraws or loses (through failure to perfect or otherwisec) in the right to dissent or its right event (i) any holder of Dissenting Shares shall subsequently withdraw such holder’s demand for appraisal of such Dissenting Sharesshares in accordance with the provisions of the Appraisal Statute, or (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, perfect his or her or its entitlement to appraisal rights as provided in by not fully complying with the DGCL or (iii) if a court provisions of competent jurisdiction shall determine that the Appraisal Statute, such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, become exchangeable for the right to receive, without interest thereon, receive the Public Merger Considerationconsideration provided in this Agreement. (b) The Company New Core shall give Parent RDSI (i) prompt notice of all any written demands for appraisal received by of any shares of New Core Common Stock made under the CompanyAppraisal Statute, any withdrawals or attempted withdrawals of such demands, demands and any other instruments served delivered pursuant to Section 262 of the DGCL Appraisal Statute and received by the Company in connection with the Mergers New Core relating to Dissenting Shares and (ii) the reasonable opportunity to participate in all Proceedings negotiations and proceedings with respect to demands for the exercise of appraisal under Applicable Law of Delaware in respect of Dissenting Sharesrights. The Company New Core shall not, except with the prior written consent of ParentRDSI, voluntarily make any payment with respect to any demands for appraisal, or settle payment for shares of New Core Common Stock under the Appraisal Statute or offer to settle or settle any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandsuch demands.

Appears in 2 contracts

Samples: Merger Agreement (Rurban Financial Corp), Merger Agreement (Rurbanc Data Services Inc)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrarycontrary (but subject to the provisions of this Section 2.3), with respect Shares outstanding immediately prior to each share the Effective Time and as to which the holders thereof have continuously held such Shares through the date shown on the Certificate of Company Class A Common Stock held by a holder who neither Merger giving effect to the Merger, have not voted in favor of the adoption of this Agreement or consented thereto in writing and who have properly demanded appraisal with respect to such share and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares thereto in accordance with with, and who have complied in all respects with, Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such shareshares, a the “Dissenting ShareShares), if any, such Dissenting Shares ) shall not be converted into or represent a the right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at Consideration. At the Effective Time, such all Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and the holders of Dissenting Shares shall only be entitled to the rights granted to them under Section 262 of the DGCL with respect to the Dissenting Shares. If any such holder fails to perfect or otherwise waives, withdraws or loses such holder’s right to appraisal under Section 262 of the DGCL or other applicable Law, then (i) the right of such holder to be paid the “fair value” of such Dissenting Shares shall cease, (ii) such Dissenting Shares shall be deemed to have been converted, as of the Effective Time, into and shall be exchangeable solely for the right to receive the Merger Consideration, without interest and subject to any withholding of Taxes required by applicable Law as provided in Section 2.5, and (iii) such holder shall cease to have any other rights with respect thereto, except the right to receive the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, the right to receive, without interest thereon, the Public Merger Consideration. (b) . The Company shall give Parent (i) prompt written notice of all any demands for appraisal received by the Company, withdrawals Company for appraisal of such demands, Shares and any other instruments served pursuant to Section 262 of the DGCL and received by the Company in connection with relating to rights to be paid the Mergers “fair value” of Dissenting Shares (no later than two (2) Business Days following the Company’s receipt of such demands or instruments), and (ii) Parent shall have the reasonable opportunity right to participate in all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Prior to the Effective Time, the Company shall not, except with the prior written consent of Parent, voluntarily make any payment with respect to, or offer to any demands for appraisalsettle or compromise, or settle or offer compromise, any such demands, approve any withdrawal of such demands, or waive any failure to settle timely deliver a written demand for appraisal or otherwise to comply with the DGCL, or agree to do any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandforegoing.

Appears in 2 contracts

Samples: Merger Agreement (Usa Truck Inc), Merger Agreement (Usa Truck Inc)

Dissenting Shares. (a) Notwithstanding anything to the contrary set forth in this Agreement Agreement, no shares of Company Common Stock issued and outstanding immediately prior to the contrary, with respect to each share of Company Class A Common Stock held by a holder who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect to such share Effective Time and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares which appraisal rights shall have been perfected in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal in connection with the Merger (each such sharecollectively, a “Dissenting ShareShares), if any, such Dissenting Shares ) shall not be converted into or represent a right to receive any that portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled otherwise payable to such rights as are granted by Section 262 the holder of the DGCL, and at the Effective Time, such Dissenting Shares as provided in Section 2.1(a), but shall no longer be outstanding and shall automatically instead be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except represent the right to receive the “fair value” of such Dissenting Shares as determined pursuant to the DGCL. Each holder of Dissenting Shares who, pursuant to the provisions of the DGCL, becomes and remains entitled to payment of the fair value of such Dissenting Shares shares shall receive payment therefor in accordance with the provisions DGCL (but only after the value therefor shall have been finally determined pursuant to the DGCL). In the event that any holder of Company Common Stock fails to make an effective demand for, or properly withdraws its demand for, appraisal of such Dissenting Shares or fails to perfect its appraisal rights as to its shares of Company Common Stock or otherwise lose their status as Dissenting Shares, then any such shares shall be converted into the right to receive the Merger Consideration issuable pursuant to Section 262 2.1(a) in respect of such shares as if such shares had never been Dissenting Shares, in accordance with and following the satisfaction of the DGCL; provided, however, that applicable requirements and conditions set forth in Section 2.2. The Company shall give Parent prompt notice of (and in no event more than two (2) Business Days after) (i) if receipt of any demand by the Company for appraisal of Company Common Stock (and the Company shall give Parent the right to direct all negotiations and proceedings with respect to any such demand) or (ii) any notice of exercise by any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and Company Common Stock of appraisal rights in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, the right to receive, without interest thereon, the Public Merger Consideration. (b) The Company shall give Parent (i) prompt notice of all demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection with the Mergers and (ii) the reasonable opportunity to participate in all Proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Shares. The Company shall notagrees that, except with the Parent’s prior written consent of Parentconsent, it shall not voluntarily make any payment or offer to make any payment with respect to any demands for appraisalto, or settle or offer to settle settle, any demands such demand for payment, in respect appraisal or exercise of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandrights.

Appears in 2 contracts

Samples: Merger Agreement (Corning Inc /Ny), Merger Agreement (Alliance Fiber Optic Products Inc)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect to each share of any issued and outstanding Company Class A Common Stock Shares held by a holder person entitled to vote on the Merger who has neither voted in favor of adoption of this Agreement or the Merger nor consented thereto in writing thereto (each, a "Dissenting Shareholder") and who otherwise complies with respect to such share and for which all the holder or Beneficial Owner has properly and validly perfected its statutory applicable provisions of the CGCL concerning the rights of appraisal in respect holders of such shares in accordance with Section 262 Company Shares to dissent from the Merger and require purchase by the Company of their Company Shares (the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such share, a “"Dissenting Share”), if any, such Dissenting Shares Shares") shall not be converted into or represent a canceled as described in Section 3.1(b) but shall become the right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall payment as may be entitled determined to be due to such rights as are granted by Section 262 of Dissenting Shareholder pursuant to the DGCLCGCL. If, and at after the Effective Time, such Dissenting Shareholder withdraws his, her or its demand for purchase of the Dissenting Shares (with the Company's consent) or fails to perfect or otherwise loses his, her or its status as a Dissenting Shareholder, in any case pursuant to the CGCL, each of his, her or its Company Shares shall no longer be outstanding deemed to be canceled as of the Effective Time and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except converted into the right to receive the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; providedMerger Consideration, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided manner contemplated by Section 262 of the DGCL, such holder(s3.1(b) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, the right to receive, without interest thereon, . The notice to be sent to Company Shareholders pursuant to CGCL ss.1301 shall designate the Public Merger Consideration. (b) closing price of Company Shares on the OTC Bulletin Board System on the trading day prior to the date of this Agreement as the fair market value of the Dissenting Shares. The Company shall give Parent (i) prompt notice of all demands any written demand for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 purchase of the DGCL Dissenting Shares received by the Company in connection with pursuant to the Mergers applicable provisions of the CGCL and (ii) the reasonable opportunity to participate in all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Company shall not, except with the prior written consent of Parent, voluntarily make an offer of any payment or make any payment with respect to any such demands for appraisal, or settle or offer to settle or settle any demands for payment, in respect of Dissenting Sharessuch demands. Any portion of communication to be made by the Public Merger Consideration made available Company to the Paying Agent pursuant any shareholder, court or appraiser with respect to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected such demands shall be returned submitted to Parent upon demandsufficiently in advance for Parent to review such communication and shall not be presented to any shareholder, court or appraiser without Parent's written consent.

Appears in 2 contracts

Samples: Merger Agreement (Spectrum Organic Products Inc), Merger Agreement (Hain Celestial Group Inc)

Dissenting Shares. (a) Notwithstanding anything in this Agreement If any VGX Stockholder entitled to the contrary, appraisal rights under DGCL with respect to each share of Company Class A Common Stock held by a holder who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect to such share and for which the holder or Beneficial Owner Merger has properly exercised and validly perfected its statutory such appraisal rights of appraisal in respect of such shares pursuant to and in accordance with Section 262 of the DGCL, such holder shall, to the extent allowed under applicable Legal Requirements, be entitled to an appraisal by the Delaware Court of Chancery of the fair value of such VGX Stockholder's VGX Common Stock as provided in Section 262 of the DGCL, provided that such VGX Stockholder acts in accordance with and meets all the requirements of Section 262 of the DGCL. Prior to the Closing, Inovio, Submerger and VGX shall comply, and after the Closing, Inovio and the Surviving Entity shall comply, with the information delivery and other requirements pursuant to Section 262 of the DGCL and has applicable Delaware law. (b) Notwithstanding any other provision of this Agreement to the contrary, shares of VGX Common Stock that have not effectively withdrawn consented to or lost its been voted for approval of, as applicable, the Merger and with respect to which such stockholders become entitled to, and do properly exercise dissenters' rights to appraisal in accordance with Section 262 of DGCL (each such share, a “"Dissenting Share”Shares"), if any, such Dissenting Shares shall will not be converted into or represent a right to receive any portion of consideration in connection with the Public Merger Consideration and such holders and Beneficial Owner thereof shall pursuant to Section 1.7, but will instead be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except converted into the right to receive the fair value of such consideration as may be determined to be due with respect to such Dissenting Shares in accordance with the provisions of Section 262 of pursuant to the DGCL; provided, however, that . (ic) if any If a holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his(a "Dissenting Stockholder") withdraws such holder's demand for such payment and appraisal or becomes ineligible for such payment and appraisal, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have becomethen, as of the Effective TimeTime or the occurrence of such event of withdrawal or ineligibility, whichever last occurs, such holder's Dissenting Shares will cease to be Dissenting Shares and will be converted into the right to receive, and will be exchangeable for, that portion of the Merger Consideration, without interest thereon, the Public Merger Considerationinto which such Dissenting Shares would have been converted pursuant to Section 1.7. (bd) The Company shall VGX will give Parent (i) Inovio and Submerger prompt notice of all any written demands for appraisal received by the Company, or withdrawals of such demandsdissenters' rights with regard to VGX Common Stock received prior to the Effective Time, and any other instruments served pursuant to Section 262 shall keep Inovio and Submerger reasonably apprised of the DGCL received by the Company in connection with the Mergers status of all negotiations and (ii) the reasonable opportunity to participate in all Proceedings proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharesany such demands. The Company shall notVGX agrees that, except with the prior written consent of ParentInovio and Submerger (which consent shall not be unreasonably withheld or delayed), voluntarily or as required under the DGCL, it will not make any payment with respect to any demands for appraisalto, or settle or offer or agree to settle settle, any demands such demand for paymentappraisal. Each Dissenting Stockholder who, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 262 of the DGCL, becomes entitled to pay for shares payment of Company Class A Common Stock for which appraisal rights have the fair value of the Dissenting Shares, will receive payment therefor from the Surviving Entity (but only after the value therefor has been perfected shall be returned agreed upon or finally determined pursuant to Parent upon demandsuch provisions).

Appears in 2 contracts

Samples: Merger Agreement (Inovio Biomedical Corp), Agreement and Plan of Merger (Inovio Biomedical Corp)

Dissenting Shares. (a) Notwithstanding anything in Section 2.06 or any other provision of this Agreement to the contrary, with respect Shares that are issued and outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and held by a holder any Person who neither has not voted in favor of adoption of this Agreement the Merger or consented thereto in writing with respect to such share and for which the holder or Beneficial Owner who has properly exercised and validly perfected its statutory appraisal rights of appraisal in respect of for such shares Shares in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such share, a “Dissenting ShareShares), if any, such Dissenting Shares ) shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof but instead shall be entitled only to such rights as are granted by Section 262 the DGCL to a holder of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCLShares; provided, however, that (i) if any such holder or Beneficial Owner of Dissenting Sharesfails to timely perfect, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the such holder’s right to dissent or its right for appraisal appraisal, pursuant to Section 262 of the DGCL with respect to such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) Shares shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon immediately cease to constitute be Dissenting Shares, Shares and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter shall be deemed to have treated as if they had been Shares converted into and to have become, as of the Effective TimeTime into, and to have become exchangeable solely for, the right to receive, receive the Merger Consideration in accordance with Section 2.06(a) (less any payments made by the Surviving Corporation with respect to such Shares in accordance with Section 262(h) of the DGCL) without interest thereon, upon surrender of such Certificate formerly representing such Share in accordance with the Public Merger Consideration. (b) provisions of Section 2.07. The Company shall give provide Parent (i) prompt written notice of all any demands for appraisal received by the CompanyCompany for appraisal of Shares, withdrawals any withdrawal of any such demands, demand and any other instruments served demand, notice or instrument delivered to the Company prior to the Effective Time pursuant to Section 262 of the DGCL received by that relate to such demand, and Parent shall have the Company in connection with the Mergers opportunity and (ii) the reasonable opportunity right to participate in all negotiations and Proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Company shall not, except Except with the prior written consent of Parent, voluntarily the Company shall not make any payment with respect to any demands for appraisalto, or settle or offer to settle or settle, otherwise negotiate any such demands for payment, in respect of Dissenting Shares. Any portion or agree to do any of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandforegoing.

Appears in 2 contracts

Samples: Merger Agreement (Astea International Inc), Merger Agreement (General Mills Inc)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrarycontrary (but subject to the provisions of this Section 2.3), with respect Shares outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and held by a holder who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect is entitled to such share demand and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of demanded appraisal in respect of for such shares Shares in accordance with with, and who complies in all respects with, Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such shareshares, a the “Dissenting ShareShares), if any, such Dissenting Shares ) shall not be converted into or represent a the right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at Consideration. At the Effective Time, such all Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and the holders of Dissenting Shares shall only be entitled to the rights granted to them under the DGCL with respect to such Dissenting Shares. If any such holder shall cease fails to have any rights with respect theretoperfect or otherwise waives, except withdraws or loses his, her or its right to appraisal under Section 262 of the DGCL or other applicable Law, then the right of such holder to receive be paid the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by shall cease and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have becomeconverted, as of the Effective Time, into and shall be exchangeable solely for the right to receivereceive the Merger Consideration, without interest thereonand subject to any withholding of Taxes required by applicable Law as provided in Section 2.5, upon surrender of the Public Merger Consideration. (b) Certificates or Book-Entry Shares that formerly evidenced such Shares in the manner provided in Section 2.2. The Company shall give Parent (i) prompt notice of all any demands for appraisal received by the Company, withdrawals Company for appraisal of such demands, Shares and any other instruments served pursuant to Section 262 of the DGCL and received by the Company in connection with relating to rights to be paid the Mergers fair value of Dissenting Shares, and (ii) Parent shall have the reasonable opportunity right to participate in all Proceedings negotiations and proceedings with respect to such demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharesappraisal. The Prior to the Effective Time, the Company shall not, except with the prior written consent of ParentParent (not to be unreasonably withheld, conditioned or delayed), voluntarily make any payment with respect to any demands for appraisalto, or settle or offer compromise, any such demands, waive any failure to settle timely deliver a written demand for appraisal under the DGCL, approve any withdrawal of any such demands or propose or otherwise agree to do any of the foregoing. For purposes of this Section 2.3, “participate” means that Parent shall be kept apprised of the proposed material strategy and other material decisions with respect to demands for payment, appraisal pursuant to Section 262 of the DGCL in respect of Dissenting Shares. Any portion Shares (to the extent that the maintenance by the Company of the Public Merger Consideration made available attorney-client or other applicable legal privilege is not (or could not reasonably be expected to be) jeopardized or otherwise affected in any respect), and Parent may offer comments or suggestions with respect to such demands (which the Company shall consider in good faith) but shall not be afforded any decision-making power or other authority over such demands, except with respect to the Paying Agent pursuant provision of its consent to Section 3.03 any payment, settlement or compromise set forth above prior to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandthe Effective Time.

Appears in 2 contracts

Samples: Merger Agreement (Iteris, Inc.), Merger Agreement (Iteris, Inc.)

Dissenting Shares. (a) Notwithstanding anything in this Agreement ----------------- to the contrary, with respect to each share shares of Company Class A Common Stock issued and outstanding on the Effective Date which are held of record by a holder shareholders who neither shall not have voted such shares in favor of adoption the Merger and who shall have properly exercised rights to demand payment of this Agreement or consented thereto in writing with respect to such share and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect fair value of such shares in accordance with Section 262 910 of the DGCL and has not effectively withdrawn or lost its rights to appraisal NYBCL (each such share, a “Dissenting Share”), if any, such Dissenting Shares "DISSENTING SHARES") shall not be converted into or represent a the right to receive any portion of the Public Merger Consideration and such specified in Section 1.8, but the holders and Beneficial Owner thereof instead shall be entitled to such rights as are granted by Section 262 payment of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares shares in accordance with the provisions of Section 262 910 of the DGCLNYBCL (the "DISSENTING CONSIDERATION"); provided, however, that (i) if any such a -------- ------- holder or Beneficial Owner fails to file a notice of Dissenting Shares, under the circumstances permitted by and election to dissent in accordance with Section 623 of the DGCLNYBCL or, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal after filing such notice of election, subsequently delivers an effective written withdrawal of such Dissenting Shares, (ii) if any holder notice or Beneficial Owner of Dissenting Shares fails to establish his, her or its his entitlement to appraisal rights as provided in Section 623 of the DGCL NYBCL, if he or she be so required, or (iiiii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided receive payment for his shares or such holder shall otherwise lose his or her appraisal rights, then in either of such cases, each share of Company Common Stock held of record by Section 262 of the DGCL, such holder(s) holder or Beneficial Owner(s) (as the case may be) holders shall forfeit automatically be converted into and represent only the right to appraisal receive the portion of the Merger Consideration indicated on SCHEDULE 1.8 (subject to Section 1.12), upon the surrender of the certificate or certificates representing such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, the right to receive, without interest thereon, the Public Merger Consideration. (b) . The Company shall give Parent (i) prompt notice of all any demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection with for payment of the Mergers fair value of such shares, and (ii) Parent shall have the reasonable opportunity right to participate in all Proceedings the negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Company shall not, except with the prior written consent of Parent, voluntarily make any payment (except to the extent that any such payment is made pursuant to a court order) with respect to any demands for appraisalto, or settle or offer to settle settle, any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandsuch demands.

Appears in 2 contracts

Samples: Merger Agreement (MJD Communications Inc), Merger Agreement (MJD Communications Inc)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect to each share of Company Class A Common Stock the extent required by the DGCL, Shares issued and outstanding immediately prior to the Effective Time that are held by a any holder who neither has not voted in favor of adoption the Merger and who is entitled to demand and properly demands appraisal of this Agreement or consented thereto in writing with respect such Shares pursuant to such share and for which Section 262 of the holder or Beneficial Owner has properly and validly perfected its statutory rights DGCL (“Dissenting Shares”) shall not be converted into the right to receive the Merger Consideration, but instead shall be entitled to payment of appraisal in respect the fair value of such shares in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such shareand, a “Dissenting Share”), if any, such Dissenting Shares shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled canceled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided), howeverunless and until such holder shall have failed to perfect, that (i) if any holder or Beneficial Owner of Dissenting Sharesshall have effectively withdrawn or lost, such holder’s right to appraisal under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively . If any such holder fails to perfect or withdraws or loses (through failure to perfect or otherwise) the any such right to dissent or its right for appraisal appraisal, each such Share of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, become exchangeable only for the right to receive, without interest thereonas of the later of the Effective Time and the time that such right to appraisal has been irrevocably lost, withdrawn or expired, the Public Merger Consideration. (b) The Company shall give Parent (i) prompt notice of all demands for appraisal received by the Company, withdrawals of such demandsConsideration in accordance with Section 3.1(a), and any other instruments served pursuant Parent shall promptly deposit (or cause to Section 262 of be deposited) in the DGCL received by Payment Fund additional cash in an amount sufficient to pay the Company in connection with the Mergers and (ii) the reasonable opportunity to participate in all Proceedings with respect to demands for appraisal under Applicable Law of Delaware Merger Consideration in respect of such Shares that are no longer Dissenting Shares. The Company shall notserve prompt notice to Parent of any demands received by the Company for appraisal of any Shares, except with and Parent shall have the right to participate in and control (provided that, prior written consent to the Acceptance Time, Parent shall not have the right to control such negotiations and proceedings where the interests of the Company or any of its Affiliates are, or would reasonably be expected to be, adverse to those of Parent, voluntarily Merger Sub or any of their respective Affiliates) all negotiations and proceedings with respect to such demands. The Company shall not, without the prior consent of Parent (which shall not be unreasonably withheld, conditioned or delayed), make any payment with respect to any demands for appraisalto, or settle or offer to settle settle, any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandsuch demands.

Appears in 2 contracts

Samples: Merger Agreement (Omron Corp /Fi), Merger Agreement (Adept Technology Inc)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrarycontrary herein, with respect to each share shares of Company Class A Common Stock issued and outstanding immediately prior to the Effective Time (other than shares of Company Common Stock owned by Parent or any Parent Subsidiaries) and which are held by a holder holders of Company Common Stock who neither voted shall have not voted, or caused or permitted to be voted, any shares of Company Common Stock in favor of adoption of this Agreement the Plan of Merger at the Company Shareholders Meeting and who shall have properly asserted (and not lost or consented thereto in writing with respect to such share and effectively withdrawn) his, her or its appraisal rights for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares in accordance with Section 262 Article 13 of the DGCL and has not effectively withdrawn or lost its rights to appraisal NCBCA (each any such shareshares of Company Common Stock, a collectively, the “Dissenting ShareShares), if any, such Dissenting Shares ) shall not be converted into or represent a the right to receive any portion of the Public Merger Consideration and such pursuant to Section 2.01(c). Such holders and Beneficial Owner thereof of Dissenting Shares instead shall only be entitled to receive such rights consideration as are granted by Section 262 may be determined to be due with respect to such Dissenting Shares pursuant to and subject to the requirements of Article 13 of the DGCLNCBCA and in accordance with the provisions of this Section 2.01(g), except that all Dissenting Shares held by holders of Company Common Stock who shall have failed to perfect or who effectively shall have withdrawn or otherwise lost his, her or its right to dissent from the Merger under Article 13 of the NCBCA shall cease to be Dissenting Shares, holders of such shares shall not be entitled to appraisal of such shares of Company Common Stock under Article 13 of the NCBCA and at such shares shall be deemed to be converted into and represent the right to receive the Merger Consideration, without any interest thereon, in the manner provided for in Section 2.01(c). From and after the Effective Time, such the Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, exist and such any holder of Dissenting Shares shall cease to have any rights with respect theretothereto except (i) as provided in Article 13 of the NCBCA, except (ii) as provided in the prior sentence and (iii) the right to receive payment of any dividends or other distributions with a record date prior to the fair value of Effective Time that may have been declared or made by the Company on such Dissenting Shares in accordance with the provisions terms of Section 262 this Agreement or prior to the date of this Agreement and which remain unpaid at the DGCL; provided, however, that Effective Time. The Company shall (i) if give Parent prompt notice of any holder notice or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right demand for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and or any withdrawals of such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, the right to receive, without interest thereon, the Public Merger Consideration. (b) The Company shall give Parent (i) prompt notice of all demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection with the Mergers and (ii) give Parent the reasonable opportunity to participate in direct and control all Proceedings negotiations and proceedings with respect to any such demands for appraisal under Applicable Law of Delaware in (provided that Parent shall reasonably consult with the Company with respect of Dissenting Shares. The to any such proceedings and the Company shall not be required to pay any amounts prior to the Closing in settlement of any such negotiations or proceedings) and (iii) not, except with without the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisalto, or settle or settle, offer to settle or otherwise negotiate any demands for payment, in respect such demands. Each holder of Dissenting Shares. Any portion Shares who becomes entitled to payment for such shares pursuant to Article 13 of the Public Merger Consideration made available NCBCA shall receive cash payment therefor from the Surviving Corporation from funds provided by BATUS (but only after the amount of the consideration required therefor shall have been agreed upon or finally determined pursuant to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandNCBCA).

Appears in 2 contracts

Samples: Merger Agreement (British American Tobacco p.l.c.), Merger Agreement (Reynolds American Inc)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect Shares outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and held by a holder who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect is entitled to such share demand and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of demanded that the Company purchase such shares Shares for fair market value in accordance with Section 262 with, and who complies in all respects with, Chapter 13 of the DGCL and has not effectively withdrawn or lost its rights to appraisal CGCL (each such shareShares, a the “Dissenting ShareShares), if any, such Dissenting Shares shall ) will not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value Merger Consideration and will instead represent the right to receive only the payment as may be determined to be due with respect to such Dissenting Shares pursuant to Chapter 13 of the CGCL (subject to deduction for any required withholding Tax pursuant to Section 2.2(g)). If any such holder withdraws such holder’s demand for purchase of such Dissenting Shares in accordance with the provisions of Section 262 for fair market value pursuant to Chapter 13 of the DGCL; providedCGCL or becomes ineligible for such payment, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) then the right of such holder to dissent or its right for appraisal receive such payment in respect of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Shares will cease and such Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter will be deemed to have been converted into and to have becomeconverted, as of the Effective Time, into and will be exchangeable solely for the right to receivereceive the Merger Consideration, without interest thereon, the Public Merger Consideration. (b) and subject to deduction for any required withholding Tax pursuant to Section 2.2(g). The Company shall will give Parent (i) prompt notice of all any demands for appraisal received by the CompanyCompany for the purchase of Shares pursuant to Chapter 13 of the CGCL, attempted withdrawals of such demands, demands and any other instruments served pursuant to Section 262 of the DGCL CGCL and received by the Company in connection with relating to rights to be paid the Mergers fair market value of Dissenting Shares, and (ii) Parent will have the reasonable opportunity right to participate in and direct all negotiations and Proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Company shall will not, except with the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisalto, or settle or compromise or offer to settle or compromise, any demands for paymentsuch demands, in respect or approve any withdrawal of Dissenting Sharesany such demands, or agree to do any of the foregoing. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 2.2(a) to pay for shares of Company Class A Common Stock Shares for which appraisal rights have been perfected as described in this Section 2.3 shall be returned to Parent Parent, upon demand; provided, that the parties acknowledge that, notwithstanding anything to the contrary in this Agreement, Parent shall not be required under this Section 2.3 or otherwise to deposit with the Paying Agent any cash to pay any Merger Consideration with respect to Shares as to which its holder has purported to deliver a notice or demand of appraisal that has not been withdrawn prior to the Closing Date. Parent shall pay additional cash to the Paying Agent to the extent required to pay the Merger Consideration in respect of the foregoing Shares if and when such Shares cease to be Dissenting Shares.

Appears in 2 contracts

Samples: Merger Agreement (St Jude Medical Inc), Merger Agreement (Thoratec Corp)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect Shares (other than Cancelled Shares and Subsidiary Shares) that are issued and outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and that are held by a stockholders properly exercising appraisal rights available under Section 262 of the DGCL (the “Dissenting Shares”) shall not be converted into the right to receive the Merger Consideration or the consideration set forth in Section 2.1(b), as applicable, unless and until such holder who neither voted in favor shall have failed to perfect or shall have effectively withdrawn or lost such holder’s rights to appraisal under the DGCL. Holders of adoption Dissenting Shares shall be entitled to payment of this Agreement or consented thereto in writing with respect the appraised value of the Dissenting Shares held by them to such share the extent permitted by and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares in accordance with Section 262 of the DGCL and has not DGCL. If any such holder shall have failed to perfect or shall have effectively withdrawn or lost its rights such right to appraisal (each appraisal, then the right of such share, a “Dissenting Share”), if any, holder to be paid the fair value of such holder’s Dissenting Shares shall not cease and such holder’s Shares shall thereupon be converted deemed to have been converted, as of the Effective Time, into or represent a the right to receive any portion of the Public Merger Consideration or the consideration set forth in Section 2.1(b), as applicable, without interest and less any required Tax withholding as provided in Section 2.3. The Company shall give Xxxxxx and Merger Sub (i) prompt written notice of any demands for appraisal of any Shares, attempted withdrawals of such holders demands and Beneficial Owner thereof shall any other instruments served pursuant to the DGCL and received by the Company relating to rights to be entitled to such rights paid the “fair value” of Dissenting Shares, as are granted by provided in Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, the right to receive, without interest thereon, the Public Merger Consideration. (b) The Company shall give Parent (i) prompt notice of all demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection with the Mergers and (ii) the reasonable opportunity to participate in all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharesthe DGCL. The Company shall not, except with the prior written consent of Parent, which will not be unreasonably withheld or delayed, voluntarily make or agree to make any material payment with respect to any demands for appraisalappraisals of capital stock of the Company, or settle or offer to settle or settle any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandsuch demands.

Appears in 2 contracts

Samples: Merger Agreement, Merger Agreement

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect Common Shares outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and held by a holder who neither voted in favor of adoption of this Agreement has demanded and perfected his or consented thereto in writing with respect to such share and for which the holder or Beneficial Owner has properly and validly perfected its statutory her appraisal rights of appraisal in respect of such shares in accordance with Section 262 5/11.65 of the DGCL Illinois Act and who has not effectively withdrawn or lost its his right to such appraisal, if such Section 5/11.65 provides for dissenters' rights to appraisal for such Common Shares in the Merger (each such share, a "Dissenting Share"), if any, such Dissenting Shares shall not be converted into or represent a the right to receive any portion of the Public Merger Consideration Price as provided in Section 1.07, unless and until such holders holder fails to perfect or withdraws or otherwise loses his right to appraisal and Beneficial Owner payment under the Illinois Act, but the holder thereof shall only be entitled to such rights as are granted by Section 262 the Illinois Act and shall not be entitled to vote or to exercise any other rights of a shareholder of the DGCLCompany except as provided in the Illinois Act. Each holder of Dissenting Shares who becomes entitled to payment therefor pursuant to the Illinois Act shall receive such payment from the Surviving Corporation in accordance with the Illinois Act. If, and at after the Effective Time, any such holder fails to perfect or withdraws or loses his right to dissent, such Dissenting Shares shall no longer thereupon be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except treated as if they had been converted as of the Effective Time into the right to receive the fair value Merger Price, if any, to which such holder is entitled, without interest or dividends thereon. The Company shall give the Parent prompt notice of such Dissenting Shares in accordance with any demands received by the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right Company for appraisal of such Dissenting SharesCommon Shares and, (ii) if any holder or Beneficial Owner of Dissenting Shares fails prior to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, the Parent shall have the right to receive, without interest thereon, the Public Merger Consideration. (b) The Company shall give Parent (i) prompt notice of all demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection with the Mergers and (ii) the reasonable opportunity to participate in all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Prior to the Effective Time, the Company shall not, except with the prior written consent of the Parent, voluntarily make any payment with respect to any demands for appraisalto, or settle or offer to settle settle, any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandsuch demands.

Appears in 2 contracts

Samples: Merger Agreement (Communications Instruments Inc), Merger Agreement (Corcom Inc)

Dissenting Shares. (a) Notwithstanding anything to the contrary set forth in this Agreement Agreement, Shares issued and outstanding immediately prior to the contrary, with respect to each share of Company Class A Common Stock Effective Time (other than Owned Shares) and held by a holder who neither has not voted in favor of adoption of this Agreement or consented thereto in writing with respect to such share and for which the holder or Beneficial Owner who has properly and validly perfected its statutory exercised appraisal rights of appraisal in respect of such shares Shares in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights (such Shares being referred to appraisal (each such share, a collectively as the “Dissenting Share”)Shares” until such time as such holder fails to perfect, if any, withdraws or otherwise loses such Dissenting Shares holder’s appraisal rights under Delaware Law with respect to such Shares) shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof but instead shall be entitled to such rights as are granted by Section 262 payment of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any if, after the Effective Time, such holder fails to perfect, withdraws or Beneficial Owner otherwise loses such holder’s right to appraisal pursuant to Section 262 of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) Shares shall be treated as if they had been converted as of the Effective Time into the right to receive the Merger Consideration in accordance with Section 1.4(b)(i), without interest thereon, upon surrender of such Certificate formerly representing such Share or Beneficial Owner(s) (transfer of such Uncertificated Share, as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have become, as of the Effective Time, the right to receive, without interest thereon, the Public Merger Consideration. (b) . The Company shall give provide Parent (i) prompt written notice of all any demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection with for appraisal of Shares of Company Common Stock, any withdrawal of any such demand and any other demand, notice or instrument delivered to the Mergers Company prior to the Effective Time pursuant to Delaware Law that relates to such demand, and (ii) Parent shall have the reasonable opportunity and right to participate in and direct all negotiations and Legal Proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Company shall not, except Except with the prior written consent of Parent, voluntarily the Company shall not make any payment with respect to any demands for appraisalto, or settle or offer to settle or settle, any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandsuch demands.

Appears in 2 contracts

Samples: Merger Agreement (Rofin Sinar Technologies Inc), Merger Agreement (Coherent Inc)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrarycontrary (but subject to the provisions of this Section 2.3), with respect Shares outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and held by a holder who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect is entitled to such share demand and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of demanded appraisal in respect of for such shares Shares in accordance with with, and who complies in all respects with, Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such shareshares, a the “Dissenting ShareShares), if any, such Dissenting Shares ) shall not be converted into or represent a the right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at Consideration. At the Effective Time, such all Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and the holders of Dissenting Shares shall only be entitled to the rights granted to them under the DGCL with respect to such Dissenting Shares. If any such holder shall cease fails to have any rights with respect theretoperfect or otherwise waives, except withdraws or loses his, her or its right to appraisal under Section 262 of the DGCL or other applicable Law, then the right of such holder to receive be paid the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by shall cease and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have becomeconverted, as of the Effective Time, into and shall be exchangeable solely for the right to receivereceive the Merger Consideration, without interest thereonand subject to any withholding of Taxes required by applicable Law as provided in Section 2.5, upon surrender of the Public Merger Consideration. (b) Certificates or Book-Entry Shares that formerly evidenced such Shares in the manner provided in Section 2.2. The Company shall give Parent (i) prompt notice of all any demands for appraisal received by the Company, withdrawals Company for appraisal of such demands, Shares and any other instruments served pursuant to Section 262 of the DGCL and received by the Company in connection with relating to rights to be paid the Mergers fair value of Dissenting Shares, and (ii) Parent shall have the reasonable opportunity right to direct and participate in all Proceedings negotiations and proceedings with respect to such demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharesappraisal. The Prior to the Effective Time, the Company shall not, except with the prior written consent of Parent, voluntarily make any payment with respect to, or offer to any demands for appraisalsettle or compromise, or settle or offer compromise, any such demands, or agree to settle do any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandforegoing.

Appears in 2 contracts

Samples: Merger Agreement (Waste Management Inc), Agreement and Plan of Merger (Stericycle Inc)

Dissenting Shares. (a) Notwithstanding anything in any other provisions of this Agreement to the contrary, with respect Shares that are outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and which are held by a holder stockholders who neither shall have not voted in favor of adoption of this Agreement the Merger or consented thereto in writing with respect to such share and who shall have demanded properly in writing appraisal for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such sharecollectively, a “the "Dissenting Share”), if any, such Dissenting Shares Shares") shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair Merger Consideration. Such stockholders instead shall be entitled to receive payment of the appraised value of such Dissenting Shares shares held by them in accordance with the provisions of Section 262 of the DGCL; provided, however, except that (i) if any holder or Beneficial Owner of all Dissenting Shares, under the circumstances permitted Shares held by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure stockholders who shall have failed to perfect or otherwise) the right who effectively shall have withdrawn or lost their rights to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by under Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock DGCL shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have becomebecome exchangeable, as of at the Effective Time, for the right to receive, without any interest thereon, the Public Merger Consideration. (b) Consideration upon surrender in the manner provided in Section 4.1, of the Company Certificate or Certificates that, at the Effective Time, evidenced such Shares. All payments with respect to Dissenting Shares shall be paid by the Surviving Corporation with funds of the Company and not with funds provided by any of the Acquiror Companies. The Company shall give Parent Acquiror (i) prompt notice of all any written demands for appraisal received by the Companyof any Shares, any withdrawals of such demands, demands and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection with the Mergers therewith and (ii) the reasonable opportunity to participate in direct all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharesthe DGCL. The Company shall not, except with the prior written consent of ParentAcquiror, voluntarily make any payment with respect to any demands for appraisal, or settle appraisal of Common Stock or offer to settle or settle any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandsuch demands.

Appears in 2 contracts

Samples: Merger Agreement (SPS Technologies Inc), Merger Agreement (SPS Technologies Inc)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect Shares outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and held by a holder or beneficial holder that or who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect is entitled to such share demand and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of demanded appraisal in respect of for such shares Shares in accordance with with, and that or who complies in all respects with, Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such shareShares, a the “Dissenting Share”)Shares” until such time as such holder fails to perfect or otherwise waives, if anywithdraws, or loses such Dissenting Shares holder’s appraisal rights under the DGCL with respect to such Shares) shall not be converted into or represent a the right to receive any portion of the Public Merger Consideration Consideration, and such holders and Beneficial Owner thereof shall be entitled instead represent the right to such rights as are granted receive only the payment provided by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and . If any such holder shall cease or beneficial holder fails to have any rights with respect theretoperfect or otherwise waives, except the right to receive the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement right to appraisal rights as provided in under Section 262 of the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit then the right to appraisal of such shares holder or beneficial holder to receive such payment in respect of Company Class A Common Stock such Dissenting Shares shall cease and such shares of Company Class A Common Stock Dissenting Shares shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have becomeconverted, as of the Effective Time, into and shall be exchangeable solely for the right to receive, without interest thereon, receive the Public Merger Consideration. (b) Consideration and shall no longer be Dissenting Shares. The Company shall give Parent (i) prompt notice and copies of all any demands for appraisal received by the CompanyCompany for appraisal of Shares, attempted withdrawals of such demands, demands and any other instruments served pursuant to Section 262 of the DGCL and received by the Company in connection with relating to rights to be paid the Mergers fair value of Dissenting Shares, and (ii) Parent shall have the reasonable opportunity right to participate in and direct all Proceedings negotiations and Actions with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Company shall not, except with the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisalto, or settle or compromise or offer to settle or compromise, any such demands, approve any withdrawal of any such demands for payment, in respect of Dissenting Shares. Any portion or agree to do any of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandforegoing.

Appears in 2 contracts

Samples: Merger Agreement (Boston Scientific Corp), Merger Agreement (Axonics, Inc.)

Dissenting Shares. (a) Notwithstanding anything in any provision of this Agreement to the contrary, including Section 1.6, Shares issued and outstanding immediately prior to the Effective Time (other than Shares cancelled in accordance with respect to each share of Company Class A Common Stock Section 1.6(a)) and held by a holder who neither voted has not voted, as applicable, in favor of adoption of this Agreement or consented thereto in writing with respect to such share and for which the holder or Beneficial Owner who has properly and validly perfected its statutory exercised appraisal rights of appraisal in respect of such shares Shares in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights (such Shares being referred to appraisal (each such share, a collectively as the “Dissenting Share”), if any, Shares” until such Dissenting Shares time as such holder fails to perfect or otherwise loses such holder’s appraisal rights under the DGCL with respect to such Shares) shall not be converted into or represent a right to receive any a portion of the Public Merger Consideration and such holders and Beneficial Owner thereof Consideration, but instead shall be entitled to only such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any if, after the Effective Time, such holder or Beneficial Owner of Dissenting Sharesfails to perfect, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the such holder’s right to dissent or its right for appraisal pursuant to Section 262 of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (Shares shall be treated as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have if they had been converted into and to have become, as of the Effective Time, Time into the right to receivereceive the portion of the Merger Consideration, if any, to which such holder is entitled pursuant to Section 1.6, without interest thereon, the Public Merger Consideration. (b) The Company . HoldCo shall give provide Parent (i) and Operator prompt written notice of all any demands received by HoldCo for appraisal received by the Companyof Shares, withdrawals any withdrawal of any such demands, demand and any other instruments served demand, notice or instrument delivered to HoldCo prior to the Effective Time pursuant to Section 262 of the DGCL received by that relates to such demand, and the Company in connection with Buyer Parties shall have the Mergers opportunity and (ii) the reasonable opportunity right to participate in direct all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Company shall not, except Except with the prior written consent of ParentParent and Operator, voluntarily HoldCo shall not make any payment with respect to any demands for appraisalto, or settle or offer to settle settle, any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandsuch demands.

Appears in 2 contracts

Samples: Merger Agreement (Vici Properties Inc.), Merger Agreement (Penn National Gaming Inc)

Dissenting Shares. (a) Notwithstanding anything in any provision of ----------------- this Agreement to the contrary, with respect Shares that are outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and which are held by a holder shareholders who shall have neither voted in favor of adoption of this Agreement or the Merger nor consented thereto in writing and who shall have filed with respect the Company, prior to the vote on the Merger by the Company's shareholders, a written notice of intention to demand that such share shareholder be paid the fair value for his Shares if the proposed action is effected and thereafter demanded properly in writing payment of fair value for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares Shares in accordance with with, and otherwise complied in all respects with, Section 262 623 of the DGCL and has not effectively withdrawn or lost its rights to appraisal NYBCL (each such sharecollectively, a “the "Dissenting Share”), if any, such Dissenting Shares Shares") shall be canceled but not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the Merger Consideration. Such shareholders shall be entitled instead to receive payment of the court determined fair value of such Dissenting Shares (which may be more than, equal to, or less than the Merger Consideration) in accordance with the provisions of such Section 262 of the DGCL; provided623, however, except that (i) if any holder or Beneficial Owner of all Dissenting Shares, under the circumstances permitted Shares held by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure shareholders who shall have failed to perfect or otherwise) the right who effectively shall have withdrawn or lost their rights to dissent or its right fair value for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that under such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock 623 shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have becomebecome exchangeable for, as of the Effective Time, the right to receivereceive the Merger Consideration, without any interest thereon, upon surrender, in the Public Merger Considerationmanner provided in Section 2.09, of the certificate or certificates that formerly evidenced such Shares. (b) The Company shall give Parent (i) prompt notice of all any demands for appraisal payment of fair value received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL NYBCL and received by the Company in connection with the Mergers and (ii) the reasonable opportunity to participate in direct all Proceedings negotiations and proceedings with respect to demands for appraisal payment of fair value under Applicable Law of Delaware in respect of Dissenting Sharesthe NYBCL. The Company shall not, except with the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisal, or settle payment of fair value or offer to settle or settle any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandsuch demands.

Appears in 2 contracts

Samples: Merger Agreement (Rexel Sa), Merger Agreement (Pinault Printemps Redoute Sa Et Al)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect to each share of Company Class A Common Stock Shares that are held by a any record holder who neither has not voted in favor of adoption of this Agreement the Merger or consented thereto in writing with respect to such share and for which the holder or Beneficial Owner who has properly and validly perfected its statutory demanded appraisal rights of appraisal in respect of such shares in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such share, a the “Dissenting ShareShares), if any, such Dissenting Shares ) shall not be converted into or represent a the right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof but shall be entitled to such rights as are granted by Section 262 of the DGCL, canceled and at the Effective Time, such Dissenting Shares shall no longer be outstanding terminated and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares in accordance with the provisions of other than such rights as are granted pursuant to Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure Shares who shall have failed to perfect or otherwise) the right shall have withdrawn or lost his rights to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of each case under the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter Dissenting Shares shall be deemed to have been converted into and the right to have becomereceive, as of the Effective Time, the Merger Consideration without interest. Notwithstanding anything to the contrary contained in this Section 3.9, if the Merger is rescinded or abandoned, then the right of any stockholder to receive, without interest thereon, be paid the Public Merger Considerationfair value of such stockholder’s Dissenting Shares shall cease. The Surviving Corporation shall comply with all of its obligations under the DGCL with respect to holders of Dissenting Shares. (b) The Company shall give Parent (i) prompt written notice of all any demands for appraisal appraisal, any withdrawals of such demands received by the Company and any other related instruments served pursuant to the DGCL and received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection with the Mergers and (ii) the reasonable opportunity to direct and participate in all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharesthe DGCL. The Company shall not, except with the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisalappraisal or negotiate, or settle or offer to settle or settle any demands for payment, in respect of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandsuch demands.

Appears in 2 contracts

Samples: Merger Agreement (Dune Energy Inc), Merger Agreement (Eos Petro, Inc.)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect Common Shares issued and outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and held by a holder who neither has not voted in favor of the adoption of this Agreement or consented thereto in writing with respect to such share and for which the holder or Beneficial Owner who has properly and validly perfected its statutory rights of demanded such holder's right to appraisal in respect of for such shares in accordance with Section 262 of the DGCL (and who has not neither effectively withdrawn nor lost his, her or lost its rights right to appraisal such appraisal) (each such share"Dissenting Shares"), shall not be converted pursuant to Section 2.2(b) hereof into the right to receive the Per Share Price or a “Dissenting Share”)contingent right to receive the applicable portion of the Additional Consideration Amount, if any, such Dissenting Shares shall not be converted into or represent a right to receive any portion of in accordance with the Public Merger Consideration definition thereof (and such holders sections referenced therein) and Beneficial Owner the holder thereof shall be entitled only to such rights as are granted by Section 262 of the DGCL. If, and at after the Effective Time, such holder fails to perfect or withdraws or otherwise loses his, her or its right to appraisal, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except treated as if they had been converted as of the Effective Time into the right to receive the fair value Per Share Price and a contingent right to receive the applicable portion of such Dissenting Shares the Additional Consideration Amount, if any, in accordance with the provisions of Section 262 of the DGCL; provideddefinition thereof (and sections referenced therein), however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that which such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to would have been converted into and entitled pursuant to have become, as of the Effective Time, the right to receiveSection 2.2(b), without interest thereon, the Public Merger Consideration. (b) subject to Section 2.5 hereof. The Company shall give Parent (i) and Merger Sub prompt written notice of all any demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant to Company under Section 262 of the DGCL received by for appraisal of Common Shares, any withdrawal of any such demand and any other demand, notice or instrument delivered to the Company in connection with prior to the Mergers Effective Time pursuant to the DGCL that relates to such demand, and (ii) Parent and the reasonable opportunity to Company shall jointly participate in all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Company Prior to the Closing, Parent shall not, except with the prior written consent of Parentthe Company (such consent not to be unreasonably withheld, voluntarily conditioned or delayed), make any payment with respect to any demands for appraisalto, or settle or offer to settle, any such demands. Parent acknowledges that the Company shall be permitted (in its sole discretion) to negotiate, settle or otherwise enforce rights with respect to any demands for paymentappraisal demand so long as (a) in any such case, none of Parent, the Company or any Affiliate of Parent or the Company will have any liability or obligation related thereto at or after the Closing and (b) in respect the case of Dissenting Shares. Any portion any such settlement, (i) the Company pays the entire amount and all related fees, costs and expenses thereof prior to the Closing, (ii) such settlement does not contain an admission of wrongdoing on the part of the Public Merger Consideration made available Company or any Company Subsidiary, (iii) such settlement provides for the full and unconditional release of the Company in a reasonable form in connection with the underlying demand and (iv) the Company consults with Parent prior to the Paying Agent pursuant such settlement and provides notice of such settlement to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandParent.

Appears in 2 contracts

Samples: Merger Agreement (E.W. SCRIPPS Co), Merger Agreement (E.W. SCRIPPS Co)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrary, with respect to each share of Company Class A Common Stock held by a as to which the holder who neither thereof shall have (i) not voted in favor of adoption of this Agreement or the First Merger nor consented thereto in writing writing, (ii) properly complied with respect to such share and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights provisions of appraisal in respect of such shares in accordance with Section 262 of the DGCL and has as to appraisal rights, or (iii) not effectively withdrawn or lost its rights to appraisal (each such shareeach, a “Dissenting Share”), if any, such Dissenting Shares shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof holder shall be entitled to such rights as are granted by Section 262 payment, solely from the Surviving Corporation, of the DGCL, and at appraisal value of the Effective Time, such Dissenting Shares shall no longer be outstanding to the extent permitted by and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the fair value of such Dissenting Shares in accordance with the provisions of Section 262 of the DGCL; provided, however, that (ix) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (iiy) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its his entitlement to appraisal rights as provided in the DGCL or (iiiz) if a court any holder of competent jurisdiction shall determine Dissenting Shares takes or fails to take any action the consequence of which is that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of payment for his shares under the DGCL, such holder(s) holder or Beneficial Owner(s) holders (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, Shares and each such share shares of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter shall be deemed to have been converted into and to have become, as of the Effective Time, Time into the right to receive, without interest thereon, receive the Public Merger Consideration. (b) Consideration as provided in this Article II. The Company shall give Parent (i) prompt notice of all any demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL received by the Company in connection with for appraisal of shares of Company Common Stock, and Parent shall have the Mergers and (ii) the reasonable opportunity right to participate in all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharessuch demands. The Company shall not, except with the prior written consent of ParentParent (which shall not be unreasonably withheld or delayed), (A) voluntarily make any payment with respect to any demands for appraisalappraisal for Dissenting Shares, or settle or (B) offer to settle any demands such demands, (C) waive any failure to timely deliver a written demand for paymentappraisal in accordance with the DGCL, in respect of Dissenting Shares. Any portion or (D) agree to do any of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandforegoing.

Appears in 2 contracts

Samples: Merger Agreement (Urs Corp /New/), Merger Agreement (Washington Group International Inc)

Dissenting Shares. (a) Notwithstanding anything If, in this Agreement to connection with the contraryMerger, with respect to each share holders of Company Class A Common Capital Stock held by a holder who neither voted in favor of adoption of this Agreement or consented thereto in writing with respect to such share and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of such shares in accordance with Section 262 of the DGCL and has not effectively withdrawn or lost its rights are entitled to appraisal (each such sharerights pursuant to Delaware Law, a “Dissenting Share”), if any, such any Dissenting Shares shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof cash as provided in Section 2.1(b), but shall be entitled converted into the right to receive such rights consideration as are granted by Section 262 of the DGCL, and at the Effective Time, may be determined to be due with respect to such Dissenting Shares pursuant to Delaware Law. Each holder of Dissenting Shares who, pursuant to the provisions of Delaware Law, becomes entitled to payment of the fair market value of such shares shall no longer receive payment therefor in accordance with Delaware Law (but only after the value therefor shall have been agreed upon or finally determined pursuant to such law). In the event that any Company Stockholder fails to make an effective demand for payment or fails to perfect its appraisal rights as to its shares of Company Capital Stock or any Dissenting Shares shall otherwise lose their status as Dissenting Shares, then any such shares shall immediately be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except converted into the right to receive the fair value of such Dissenting Shares consideration issuable pursuant to Section 2.1(b) in accordance with the provisions of Section 262 of the DGCL; provided, however, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) the right to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal respect of such shares of Company Class A Common Stock and had such shares of Company Class A Common Stock shall thereupon cease to constitute never been Dissenting Shares, and each such share of Company Class A Common Stock shall, Parent shall issue and deliver to the fullest extent permitted by Applicable Lawholder thereof, thereafter be deemed to have been converted into and to have becomeat (or as promptly as reasonably practicable after) the applicable time or times specified in Section 7.2, as following the satisfaction of the Effective Timeapplicable conditions set forth in Section 7.2, the right to receivecash, without interest thereon, the Public Merger Consideration. (bto which such Company Stockholder would have been entitled under Section 2.1(b) with respect to such shares. The Company shall give Parent (i) prompt notice of all demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant to Section 262 of the DGCL demand received by the Company in connection with for appraisal of Company Capital Stock or notice of exercise of a Company Stockholder’s appraisal rights, and Parent shall have the Mergers right to control all negotiations and (ii) the reasonable opportunity to participate in all Proceedings proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharesany such demand. The Company shall notagrees that, except with the Parent’s prior written consent of Parent(which shall not be unreasonably withheld, conditioned or delayed), it shall not voluntarily make any payment or offer to make any payment with respect to any demands for appraisalto, or settle or offer to settle settle, any demands such demand for payment, in respect appraisal or exercise of Dissenting Shares. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights have been perfected shall be returned to Parent upon demandrights.

Appears in 2 contracts

Samples: Merger Agreement, Merger Agreement (MINDBODY, Inc.)

Dissenting Shares. (a) Notwithstanding anything in this Agreement to the contrarycontrary herein, with respect Shares issued and outstanding immediately prior to each share of Company Class A Common Stock the Effective Time and held by a holder of record who neither voted did not vote in favor of adoption of this Agreement the Company Shareholder Approval (or consented consent thereto in writing with respect writing) and is entitled to such share demand, and for which the holder or Beneficial Owner has properly and validly perfected its statutory rights of appraisal in respect of demanded, that the Company purchase such shares Shares (such Shares, the “Dissenting Shares”) for fair market value in accordance with Section 262 with, and in compliance in all respects with, Chapter 13 of the DGCL and has not effectively withdrawn or lost its rights to appraisal (each such share, a “Dissenting Share”), if any, such Dissenting Shares CCC shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the Merger Consideration payable pursuant to Section 2.01(c), but instead at the Effective Time shall be converted into the right to receive payment of the fair market value of such Shares as may be determined to be due with respect to such Dissenting Shares pursuant to Chapter 13 of the CCC. If any such holder fails to perfect or otherwise waives, withdraws or loses the right to payment of the fair market value of such Dissenting Shares in accordance with the provisions of Section 262 pursuant to Chapter 13 of the DGCL; providedCCC, howeveror becomes ineligible for such payment, that (i) if any holder or Beneficial Owner of Dissenting Shares, under the circumstances permitted by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure to perfect or otherwise) then the right of such holder to dissent or its right for appraisal receive such payment in respect of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Shares will cease and such Dissenting Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter will be deemed to have been converted into and to have becomeconverted, as of the Effective Time, into and will be exchangeable solely for the right to receivereceive the Merger Consideration, without interest thereon, the Public Merger Considerationor duplication. (b) The Company shall give Parent (i) prompt notice of all any demands for appraisal received by the CompanyCompany for the purchase of Shares pursuant to Chapter 13 of the CCC, any litigation related thereto, attempted withdrawals of such demands, demands and any other instruments served pursuant to Section 262 of the DGCL CCC and received by the Company relating to rights to be paid the fair market value of Dissenting Shares (such demands, withdrawals, instruments, or litigation related thereto, together, “Shareholder Demands”). Parent shall have the right to participate in and control all negotiations and proceedings with respect to, and the defense of, such Shareholder Demands, and Parent shall give Company the right to review and comment on all material filings or responses to be made in connection with any such Shareholder Demands, and the Mergers right to consult on the settlement, release, waiver or compromise of any such Shareholder Demands, and (ii) the reasonable opportunity to participate Parent shall in all Proceedings with respect to demands for appraisal under Applicable Law of Delaware in respect of Dissenting Sharesgood faith take such comments into account. The Company shall not, except with without the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisalto, or settle or compromise or offer to settle or compromise, any demands for paymentsuch Shareholder Demand, in respect or agree to any of Dissenting Sharesthe foregoing. Any portion of the Public aggregate Merger Consideration made available to the Paying Payment Agent pursuant to Section 3.03 to pay for shares of Company Class A Common Stock for which appraisal rights Shares that have been perfected become Dissenting Shares shall be returned to Parent upon demand.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Abaxis Inc), Merger Agreement (Zoetis Inc.)

Dissenting Shares. (a) Notwithstanding anything in any provision of this Agreement to the contrary, with respect Company Shares that are outstanding immediately prior to each share the Effective Time and that are held of Company Class A Common Stock held record by a holder shareholders who neither shall have not voted in favor of adoption of this Agreement the Merger or consented thereto in writing with respect to such share and for which the holder or Beneficial Owner has who shall have properly and validly perfected its statutory exercised dissenters’ rights of appraisal in respect of such shares in accordance with Section 262 Chapter 13 of the DGCL and has not effectively withdrawn or lost its rights to appraisal CGCL (each such sharecollectively, a the “Dissenting ShareCompany Shares), if any, such Dissenting Shares ) shall not be converted into or represent a right to receive any portion of the Public Merger Consideration and such holders and Beneficial Owner thereof shall be entitled to such rights as are granted by Section 262 of the DGCL, and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the right to receive the Merger Consideration. Such shareholders shall be entitled to receive payment of the “fair value market value” of such Dissenting Company Shares held by them in accordance with the provisions of Section 262 of the DGCL; providedsuch Chapter 13, however, except that (i) if any holder or Beneficial Owner of all Dissenting Shares, under the circumstances permitted Company Shares held by and in accordance with the DGCL, affirmatively and effectively withdraws or loses (through failure shareholders who shall have failed to perfect or otherwise) the right who effectively shall have withdrawn or lost their rights to dissent or its right for appraisal of such Dissenting Shares, (ii) if any holder or Beneficial Owner of Dissenting Company Shares fails to establish his, her or its entitlement to appraisal rights as provided in the DGCL or (iii) if a court of competent jurisdiction shall determine that under such holder or Beneficial Owner is not entitled to the relief provided by Section 262 of the DGCL, such holder(s) or Beneficial Owner(s) (as the case may be) shall forfeit the right to appraisal of such shares of Company Class A Common Stock and such shares of Company Class A Common Stock Chapter 13 shall thereupon cease to constitute Dissenting Shares, and each such share of Company Class A Common Stock shall, to the fullest extent permitted by Applicable Law, thereafter be deemed to have been converted into and to have becomebecome exchangeable for, as of the Effective Time, the right to receivereceive the Merger Consideration, without any interest thereon, upon surrender, in the Public Merger Considerationmanner provided in Section 3.9, of the certificate or certificates that formerly evidenced such Dissenting Company Shares. (b) The Company shall give Parent (i) prompt notice of all any demands for appraisal received by the Company, withdrawals of such demands, and any other instruments served pursuant instruments, notices, petitions, or other communication received from shareholders or provided to Section 262 of the DGCL received shareholders by the Company in connection with the Mergers respect to any Dissenting Company Shares or shares claimed to be Dissenting Company Shares, and (ii) the reasonable opportunity to participate in direct all Proceedings negotiations and proceedings with respect to demands for appraisal under Applicable Law the CGCL. Payment of Delaware in respect any amount payable to the holders of Dissenting SharesCompany Shares shall be the obligation of Company. The Company shall not, except with the prior written consent of Parent, voluntarily make any payment with respect to any demands for appraisal, or settle appraisal or offer to settle or settle any demands for payment, in respect of Dissenting Sharessuch demands. Any portion of the Public Merger Consideration made available to the Paying Agent pursuant to Section 3.03 3.9(a) to pay for shares of Dissenting Company Class A Common Stock for which appraisal rights have been perfected Shares shall be returned to Parent upon demand.

Appears in 2 contracts

Samples: Merger Agreement (Actel Corp), Merger Agreement (Microsemi Corp)

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