Common use of Manner of Conversion of Shares Clause in Contracts

Manner of Conversion of Shares. Upon and by virtue of the Merger becoming effective at the Effective Time, (a) Each share of common stock of Monroe issued and outstanding immediately prior to the Effective Time shall become and be converted into the right to receive [ ] shares of common stock of ONB (the “Exchange Ratio”), without par value, as adjusted pursuant to the Merger Agreement (the “Merger Consideration”) by virtue of the Merger, without any action on the part of the holder thereof (except as provided in Section 3.5 below; and (b) Each holder of Monroe common stock who otherwise would be entitled to a fractional share of ONB common stock shall receive an amount in cash (without interest) determined by multiplying such fraction by the average per share closing price of a share of ONB Common Stock as quoted on the New York Stock Exchange (“NYSE”) during the ten (10) trading days preceding the fifth (5th) calendar day preceding the Effective Time (the “Average Share Price”).

Manner of Conversion of Shares. Upon and by virtue of the Merger becoming effective at the Effective Time, (a) Each share of common stock of Monroe ICB issued and outstanding immediately prior to the Effective Time shall become and be converted into the right to receive [ [____] shares of common stock of ONB (the “Exchange Ratio”), without par value, as adjusted pursuant to the Merger Agreement (the “Merger Consideration”) by virtue of the Merger, without any action on the part of the holder thereof (except as provided in Section 3.5 3.6 below); and (b) Each holder of Monroe ICB common stock who otherwise would be entitled to a fractional share of ONB common stock shall receive an amount in cash (without interest) determined by multiplying such fraction by the average per share closing price of a share of ONB Common Stock as quoted on the New York Stock Exchange (“NYSE”) during the ten (10) trading days preceding the fifth (5th) calendar day preceding the Effective Time (the “Average Share ONB Closing Price”).

Manner of Conversion of Shares. Upon and by virtue of the Merger becoming effective at the Effective Time, (a) Each share of common stock of Monroe issued and outstanding immediately prior to the Effective Time shall become and be converted into the right to receive [ [____] shares of common stock of ONB (the “Exchange Ratio”), without par value, as adjusted pursuant to the Merger Agreement (the “Merger Consideration”) by virtue of the Merger, without any action on the part of the holder thereof (except as provided in Section 3.5 below; and (b) Each holder of Monroe common stock who otherwise would be entitled to a fractional share of ONB common stock shall receive an amount in cash (without interest) determined by multiplying such fraction by the average per share closing price of a share of ONB Common Stock as quoted on the New York Stock Exchange (“NYSE”) during the ten (10) trading days preceding the fifth (5th) calendar day preceding the Effective Time (the “Average Share Price”).

Manner of Conversion of Shares. Upon and by virtue of the Merger becoming effective at the Effective Time, (a) Each share of common stock of Monroe ICB issued and outstanding immediately prior to the Effective Time shall become and be converted into the right to receive [ ] shares of common stock of ONB (the “Exchange Ratio”), without par value, as adjusted pursuant to the Merger Agreement (the “Merger Consideration”) by virtue of the Merger, without any action on the part of the holder thereof (except as provided in Section 3.5 3.6 below); and (b) Each holder of Monroe ICB common stock who otherwise would be entitled to a fractional share of ONB common stock shall receive an amount in cash (without interest) determined by multiplying such fraction by the average per share closing price of a share of ONB Common Stock as quoted on the New York Stock Exchange (“NYSE”) during the ten (10) trading days preceding the fifth (5th) calendar day preceding the Effective Time (the “Average Share ONB Closing Price”).