Shares as to Which No Election is Made. Holders of shares of TBI Common Stock who fail to submit a properly completed Election Form together with certificates representing their shares of TBI Common Stock by the Election Deadline, or who revoke their previously submitted Election Form and fail to submit a properly completed Election Form together with certificate(s) representing their shares of TBI Common Stock (“Non-Electing Shareholder”), shall have their shares of TBI Common Stock converted into the right to receive a cash payment of $150 for each share they own, subject to adjustment in accordance with the allocation and proration provisions set forth in the Merger Agreement. In addition, a holder who does not tender an Election Form for all of his or her shares will be deemed to be a Non-Electing Shareholder with respect to those shares not rendered.
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Samples: Community Bank Shares of Indiana Inc, Community Bank Shares of Indiana Inc, Community Bank Shares of Indiana Inc
Shares as to Which No Election is Made. Holders of shares of TBI Citizens Common Stock who fail to submit a properly completed Election Form together with certificates representing their shares of TBI Citizens Common Stock by the Election Deadline, or who revoke their previously submitted Election Form and fail to submit a properly completed Election Form together with certificate(s) representing their shares of TBI Citizens Common Stock (“Non-Electing Shareholder”), shall have their shares of TBI Citizens Common Stock converted into the right to receive a cash payment of $150 for each share they ownpayment, subject to adjustment in accordance with the allocation and proration provisions set forth in the Merger Agreement. In addition, a holder who does not tender an Election Form for all of his or her shares will be deemed to be a Non-Electing Shareholder with respect to those shares not renderedtendered.
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Samples: Farmers Capital Bank Corp