Common use of Payment by Surviving Corporation Clause in Contracts

Payment by Surviving Corporation. The Surviving Corporation shall, and Parent shall cause the Surviving Corporation to, pay to the holders of Company Stock Options, Company RSUs and/or Company Phantom Stock Units, as applicable, the amounts described in paragraphs (a), (b) and (c) of this Section 2.07, less any Taxes required to be withheld under applicable Law with respect to such payments, as soon as practicable following the Effective Time, through the Surviving Corporation’s payroll system no later than the next regularly scheduled payroll payment date.

Appears in 2 contracts

Samples: Merger Agreement (SPAR Group, Inc.), Merger Agreement (SPAR Group, Inc.)

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Payment by Surviving Corporation. The Surviving Corporation shallwill, and Parent shall will cause the Surviving Corporation to, pay to the holders of Vested Company Stock Options, Options and Vested Company RSUs and/or Company Phantom Stock Units, as applicable, the amounts described in paragraphs (a), (b) Sections 2.4.1 and (c) 2.4.2 as promptly as practical but in any event no later than the first regularly scheduled payroll date of this Section 2.07, the Surviving Corporation that is at least three Business Days after the Closing Date. The foregoing payments will be less any Taxes required to be withheld under applicable Law with respect to such payments, as soon as practicable following the Effective Time, through the Surviving Corporation’s payroll system no later than the next regularly scheduled payroll payment date.

Appears in 2 contracts

Samples: Merger Agreement (SMTC Corp), Merger Agreement (SMTC Corp)

Payment by Surviving Corporation. The Surviving Corporation shall, and Parent shall cause the Surviving Corporation to, pay to the holders of Company Stock Options, RSUs and Company RSUs and/or Company Phantom Stock Units, as applicable, PRSUs the amounts described in paragraphs (aSection 2.4(b), (b) and (c) of this Section 2.07, less any Taxes required to be withheld under applicable Law with respect to such payments, as soon as practicable following the Effective TimeClosing Date, through the Surviving Corporation’s payroll system no system, but not later than five (5) Business Days following the next regularly scheduled payroll payment dateClosing Date.

Appears in 2 contracts

Samples: Merger Agreement (Patterson Companies, Inc.), Merger Agreement (Patterson Companies, Inc.)

Payment by Surviving Corporation. The Surviving Corporation shall, and Parent shall cause the Surviving Corporation to, pay to the holders of Company Stock Options, Company RSUs and/or RSUs, Company Phantom Stock Units, as applicable, Restricted Shares and Company PSUs the amounts described in paragraphs (aSections 2.4(a) through 2.4(d), (b) and (c) of this Section 2.07, less any Taxes required to be withheld under applicable Law with respect to such payments, as soon as practicable following the Effective TimeClosing Date, through the Surviving Corporation’s payroll system no system, but not later than the next regularly scheduled first payroll payment datedate that is at least ten (10) Business Days following the Closing Date.

Appears in 1 contract

Samples: Merger Agreement (Wesco Aircraft Holdings, Inc)

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Payment by Surviving Corporation. The Surviving Corporation shall, and Parent shall cause the Surviving Corporation to, pay to the holders of Company Stock Options, Company RSUs and/or Company Phantom Stock Units, as applicable, Equity Awards the amounts described in paragraphs (aSection 2.4(a) and Section 2.4(b), (b) and (c) of this Section 2.07respectively, less any Taxes required to be withheld under applicable Law with respect to such payments, as soon as practicable following the Effective TimeClosing Date, through the Surviving Corporation’s payroll system no system, but not later than ten (10) Business Days following the next regularly scheduled payroll payment dateClosing Date.

Appears in 1 contract

Samples: Merger Agreement (Micropac Industries Inc)

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