Subdivision of Discover Common Stock to Accomplish the Distribution. Effective upon the filing of the amended and restated certificate of incorporation of Discover with the Secretary of State of the State of Delaware, each share of Discover Common Stock then issued and outstanding shall, without any action on the part of the holder thereof, be subdivided and converted into that number of fully paid and non-assessable shares of Discover Common Stock issued and outstanding equal to the number necessary to effect the Distribution.
Appears in 3 contracts
Samples: Separation and Distribution Agreement, Separation and Distribution Agreement (Discover Financial Services), Separation and Distribution Agreement (Discover Financial Services)
Subdivision of Discover Common Stock to Accomplish the Distribution. Effective upon Upon the filing effectiveness of the amended and restated certificate of incorporation of Discover to be filed with the Secretary of State of the State of Delaware, each share of Discover Common Stock then issued and outstanding shall, without any action on the part of the holder thereof, be subdivided and converted into that number of fully paid and non-assessable shares of Discover Common Stock issued and outstanding equal to the number necessary to effect the Distribution.
Appears in 2 contracts
Samples: Separation and Distribution Agreement (Morgan Stanley), Separation and Distribution Agreement (Discover Financial Services)
