Stock of Sub. Each membership interest of Sub issued and outstanding immediately prior to the Effective Time shall be converted into and become one validly issued, fully paid and nonassessable share of common stock, par value $0.01 per share, of the Surviving Entity.
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Samples: Merger Agreement (CNL Hotels & Resorts, Inc.), Merger Agreement (Ashford Hospitality Trust Inc)
Stock of Sub. Each membership interest share of common stock, par value $.01 per share, of Sub issued and outstanding immediately prior to the Effective Time shall be converted into and become exchanged for one (1) duly and validly issued, fully paid and nonassessable share of common stock, par value $0.01 per share, stock of the Surviving EntityCorporation.
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Stock of Sub. Each membership interest share of common stock, par value $.01, of Sub ("Sub Common Stock") issued and outstanding immediately prior to the Effective Time Time, shall be converted into and become one validly issued, fully paid and nonassessable share of the common stock, no par value $0.01 per sharevalue, of the Surviving EntityCorporation.
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