Common use of Exchange Ratio Adjustment Clause in Contracts

Exchange Ratio Adjustment. Subject to the satisfaction of Section 2.11.1 or 2.11.2, the Exchange Ratio shall be decreased to a quotient determined by dividing the Adjusted Stock Purchase Price by the total number of shares of the Company Common Stock outstanding at the Effective Time, and further dividing that number by the Average Purchaser Closing Price.

Appears in 2 contracts

Samples: Merger Agreement (Old National Bancorp /In/), Merger Agreement (United Bancorp Inc /Mi/)

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Exchange Ratio Adjustment. Subject to the satisfaction of Section 2.11.1 or 2.11.22.14.1, the Exchange Ratio shall be decreased to a an amount determined by multiplying (a) the quotient determined by dividing the Adjusted Stock Purchase Price Value by the total number of shares of the Company Common Stock outstanding at the Effective TimePurchase Value, and further dividing that number by (b) the Average Purchaser Closing PriceExchange Ratio.

Appears in 1 contract

Samples: Merger Agreement (Independent Bank Corp /Mi/)

Exchange Ratio Adjustment. Subject to the satisfaction of Section 2.11.1 or Section 2.11.2, the Exchange Ratio shall be decreased to a an amount determined by multiplying (a) the quotient determined by dividing the Adjusted Stock Purchase Price Value by the total number of shares of the Company Common Stock outstanding at the Effective TimePurchase Value, and further dividing that number by (b) the Average Purchaser Closing PriceExchange Ratio.

Appears in 1 contract

Samples: Merger Agreement (Monarch Community Bancorp Inc)

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Exchange Ratio Adjustment. Subject to the satisfaction of Section 2.11.1 or 2.11.22.11.1, the Exchange Ratio shall be decreased to a quotient determined by dividing the Adjusted Stock Purchase Price by the total number of shares of the Company Common Stock outstanding at the Effective Time, and further dividing that number by the Average Final Purchaser Closing Price.

Appears in 1 contract

Samples: Merger Agreement (Old National Bancorp /In/)

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