Effect on Outstanding Shares of Merger Corp. Common Stock Clause Samples

Effect on Outstanding Shares of Merger Corp. Common Stock. At the Effective Time, by virtue of the Merger and without any action on the part of the holder thereof, each share of common stock, par value $1.00 per share, of Interim that is outstanding as of the Effective Time shall automatically be converted into the right to receive Merger Consideration as defined in the Agreement and Plan of Merger.