SHARES HELD BY MAGNA OR UPC. Each of the shares of Magna Capital Stock held by any Magna Company or by any UPC Company, in each case other than in a fiduciary capacity or as a result of debts previously contracted, shall be canceled and retired at the Effective Time and no consideration shall be issued in exchange therefor.
Appears in 2 contracts
Sources: Agreement and Plan of Reorganization (Magna Group Inc), Agreement and Plan of Reorganization (Union Planters Corp)
SHARES HELD BY MAGNA OR UPC. Each of the shares of Magna Capital Common Stock held by any Magna Company or by any UPC Company, in each case other than in a fiduciary capacity or as a result of debts previously contracted, shall be canceled and retired at the Effective Time and no consideration shall be issued in exchange therefor.
Appears in 2 contracts
Sources: Agreement and Plan of Reorganization (Union Planters Corp), Agreement and Plan of Reorganization (Magna Bancorp Inc)