LIQUIDATING DISTRIBUTION AND TERMINATION OF OLD HIGH-YIELD. Immediately after the Effective Time, Old High-Yield shall distribute in the complete liquidation pro rata to the record holders of its shares at the Effective Time the shares of New High-Yield to be received by the record holders of Old High-Yield. In accordance with instructions it receives from ACMF, ACIT shall record on its books the ownership of shares of New High-Yield by the record holders of shares of Old High-Yield. All of the issued and outstanding shares of Old High-Yield shall be redeemed and canceled on the books of ACMF at the Effective Time and shall thereafter represent only the right to receive the shares of New High-Yield, and Old High-Yield's transfer books shall be closed permanently. As soon as practicable after the Effective Time, ACMF shall take all steps as shall be necessary and proper to effect the dissolution of Old High-Yield under federal and state law. After the Effective Time, ACMF shall not conduct any business with respect to Old High-Yield except in connection with Old High-Yield's liquidation and dissolution.
Appears in 4 contracts
Samples: Agreement and Plan of Reorganization (American Century Investment Trust), Agreement and Plan of Reorganization (American Century Investment Trust), Agreement and Plan of Reorganization (American Century Mutual Funds Inc)
