Common use of Shareholder Loans Clause in Contracts

Shareholder Loans. In the event that any Shareholder has outstanding loans from the Company as of the Effective Time, the cash consideration payable to such Shareholder pursuant to this Section 1.6 shall be reduced by an amount equal to the outstanding principal plus accrued interest of such Shareholder’s loans as of the Effective Time. Such loans shall be satisfied as to the amount by which the consideration is reduced pursuant to this Section 1.6(d).

Appears in 1 contract

Samples: Agreement and Plan of Merger (Altiris Inc)

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Shareholder Loans. In the event that any Shareholder has outstanding loans from the Company as of the Effective Time, the cash consideration payable to such Shareholder pursuant to this Section 1.6 shall be reduced by an amount equal to the outstanding principal plus accrued interest of such Shareholder’s 's loans as of the Effective Time. Such loans For purposes of any such reduction, a share of Parent Common Stock shall be satisfied as to valued at the amount by which the consideration is reduced pursuant to this Section 1.6(d)Trading Price.

Appears in 1 contract

Samples: Agreement and Plan (Lsi Logic Corp)

Shareholder Loans. In the event that any Shareholder shareholder of the Company has outstanding loans from the Company as of the Effective Time, the cash consideration payable to such Shareholder shareholder pursuant to this Section SECTION 1.6 shall be reduced by an the amount equal to of the outstanding principal plus accrued interest of such Shareholder’s shareholder's loans as of the Effective Time. Such loans shall be satisfied as to the amount by which the consideration is reduced pursuant to this Section 1.6(dSECTION 1.6(g).

Appears in 1 contract

Samples: Agreement and Plan of Merger (Scansoft Inc)

Shareholder Loans. In the event that any Shareholder has ----------------- outstanding loans from the Company as of the Effective Time, the cash consideration payable to such Shareholder pursuant to this Section 1.6 shall be reduced by an ----------- amount equal to the outstanding principal plus accrued interest of such Shareholder’s 's loans as of the Effective Time. Such Time and such loans shall will be satisfied as to the amount by which the consideration is reduced pursuant to this Section 1.6(d)cancelled.

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Lantronix Inc)

Shareholder Loans. In the event that any Company Shareholder has owes monies to the Company under outstanding loans from the Company as of the Effective TimeTime (except for expense advances), the cash consideration payable to such Company Shareholder pursuant to this Section 1.6 1.5 shall be reduced by an amount equal to the outstanding principal plus accrued interest of such Shareholder’s shareholder's loans as of the Effective Time. Such loans shall be satisfied as to the amount by which the consideration is reduced pursuant to this Section 1.6(d).

Appears in 1 contract

Samples: Agreement and Plan of Merger (Be Free Inc)

Shareholder Loans. In the event that any Shareholder has outstanding there are loans from the ----------------- Company to ny Shareholder outstanding as of the Effective Time, the cash consideration payable to such Shareholder pursuant to this Section 1.6 shall be ----------- reduced by an amount equal to the outstanding principal plus accrued interest of such Shareholder’s 's loans as of the Effective Time. Such Time and such loans shall be satisfied as to the amount by which the consideration is reduced pursuant to this Section 1.6(d)canceled.

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Lantronix Inc)

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Shareholder Loans. In the event that any Shareholder shareholder of the Company has outstanding loans from the Company as of the Effective Time, the cash consideration payable to such Shareholder shareholder pursuant to this Section SECTION 1.6 shall be reduced by an the amount equal to of the outstanding principal plus accrued interest of such Shareholder’s shareholder's loans as of the Effective Time. Such loans shall be satisfied as to the amount by which the consideration is reduced pursuant to this Section 1.6(dSECTION 1.6(H).

Appears in 1 contract

Samples: Agreement and Plan of Merger (Scansoft Inc)

Shareholder Loans. In the event that any Shareholder has outstanding loans from the Company or any of its Subsidiaries as of the Effective Time, the cash consideration payable to such Shareholder pursuant to this Section 1.6 shall be reduced by an amount equal to the outstanding principal plus accrued interest of such Shareholder’s loans as of the Effective Time. Such loans shall be satisfied as to the amount by which the consideration is reduced pursuant to this Section 1.6(d).

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Epicor Software Corp)

Shareholder Loans. In the event that any Shareholder has outstanding loans from the Company as of the Effective Time, the cash consideration payable to such Shareholder pursuant to this Section 1.6 shall be reduced by an amount equal to the sum of the outstanding principal plus accrued interest of such Shareholder’s loans as of the Effective Time. Such loans shall be satisfied as to the amount by which the consideration is reduced pursuant to this Section 1.6(d1.6(f). To the extent the consideration payable to such Shareholder is so reduced, such amount shall be treated for all purposes under this Agreement as having been paid to such Shareholder.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Taleo Corp)

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