Common use of Distributions with Respect to Unexchanged Company Shares Clause in Contracts

Distributions with Respect to Unexchanged Company Shares. No dividends or other distributions declared or made with respect to Acquiror Common Stock with a record date after the Effective Time shall be paid to the holder of any unsurrendered Certificate with respect to the shares of Acquiror Common Stock such holder is entitled to receive pursuant to Section 2.1 until such holder shall surrender such Certificate. Subject to applicable law and the provisions of this Article II, following the surrender of any such Certificate there shall be paid to the record holder of the shares of Acquiror Common Stock issued in exchange for such Certificate, without interest, at the time of such surrender, the amount of dividends or other distributions with a record date after the Effective Time theretofore paid with respect to such shares of Acquiror Common Stock.

Appears in 2 contracts

Samples: Merger Agreement (Micros to Mainframes Inc), Merger Agreement (BTG Inc /Va/)

AutoNDA by SimpleDocs

Distributions with Respect to Unexchanged Company Shares. No Notwithstanding any other provision of this Agreement, no dividends or other distributions declared or made with in respect to Acquiror Common Stock of Parent Shares with a record date on or after the Effective Time shall be paid to the holder of any unsurrendered Certificate with respect to the shares of Acquiror person holding a Company Common Stock such holder is entitled to receive pursuant to Section 2.1 Certificate until such holder shall surrender such CertificateCompany Common Stock Certificate has been surrendered for exchange as provided for in this Section 2.4. Subject to applicable law Laws and the provisions of this Article IIimmediately preceding sentence, following the surrender of any such Certificate Company Common Stock Certificate, there shall be paid to the record holder of the shares of Acquiror Common Parent Stock Certificate issued in exchange for such Certificatetherefor, if any, without interest, at the time of such surrender, the amount of dividends or other distributions with a record date on or after the Effective Time theretofore paid payable with respect to such shares of Acquiror the Parent Shares represented thereby, as well as any dividends with respect to the Company Shares represented by the surrendered Company Common StockStock Certificate declared prior to the Effective Time but theretofore unpaid.

Appears in 2 contracts

Samples: Merger Agreement (Placer Sierra Bancshares), Merger Agreement (Southwest Community Bancorp)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!