Common use of Mixed Election Units Clause in Contracts

Mixed Election Units. Each Common Unit with respect to which an election to receive a combination of stock and cash (a “Mixed Election”) has been properly made and not properly revoked pursuant to Section 2.3 (each, a “Mixed Consideration Election Unit”) and each No Election Unit (as that term is defined in Section 2.3(b)) shall be converted into the right to receive the combination (which combination shall hereinafter be referred to as the “Per Unit Mixed Consideration”) of (x) $4.65 in cash without interest (the “Per Unit Mixed Consideration Cash Amount”) and (y) 0.9451 of a share of validly issued, fully paid and nonassessable Parent Class P Stock (such fraction of a share, the “Per Unit Mixed Election Stock Exchange Ratio”), in each case, subject to adjustment in accordance with Section 2.5.

Appears in 3 contracts

Samples: Merger Agreement (Kinder Morgan, Inc.), Merger Agreement (El Paso Pipeline Partners, L.P.), Merger Agreement (Kinder Morgan, Inc.)

AutoNDA by SimpleDocs

Mixed Election Units. Each Common Unit with respect to which an election to receive a combination of stock and cash (a “Mixed Election”) has been properly made and not properly revoked pursuant to Section 2.3 (each, a “Mixed Consideration Election Unit”) and each No Election Unit (as that term is defined in Section 2.3(b)) shall be converted into the right to receive the combination (which combination shall hereinafter be referred to as the “Per Unit Mixed Consideration”) of (x) $4.65 10.77 in cash without interest (the “Per Unit Mixed Consideration Cash Amount”) and (y) 0.9451 of a share 2.1931 shares of validly issued, fully paid and nonassessable Parent Class P Stock (such fraction number of a shareshares, the “Per Unit Mixed Election Stock Exchange Ratio”), in each case, subject to adjustment in accordance with Section 2.5.

Appears in 2 contracts

Samples: Merger Agreement (Kinder Morgan, Inc.), Merger Agreement (Kinder Morgan, Inc.)

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