Common use of Substitution of Shares Clause in Contracts

Substitution of Shares. After any merger of one or more corporations into NovaMed, or after any consolidation of NovaMed and one or more corporation in which NovaMed shall be the surviving corporation, Option Holder shall, at not additional cost, be entitled, upon the exercise of the Option, to receive, subject to any required action by the share- holders of NovaMed and in lieu of the number of shares as to which the Option shall then be so exer- cised, the number and class of shares of stock or securities to which Option Holder would have been entitled pursuant to the terms of the Agreement of Merger or Consolidation if at the time of such merger or consolidation Option Holder had been a holder of record of a number of shares of common stock of NovaMed equal to the number of shares as to which the Option shall then be so exercised.

Substitution of Shares. After any merger of one or more corporations into NovaMed, or after any consolidation of NovaMed and one or more corporation in which NovaMed shall be the surviving corporation, Option Holder shall, at not additional cost, be entitled, upon the exercise of the Option, to receive, subject to any required action by the share- holders shareholders of NovaMed and in lieu of the number of shares as to which the Option shall then be so exer- cisedexercised, the number and class of shares of stock or securities to which Option Holder would have been entitled pursuant to the terms of the Agreement of Merger or Consolidation if at the time of such merger or consolidation Option Holder had been a holder of record of a number of shares of common stock of NovaMed equal to the number of shares as to which the Option shall then be so exercised.

Substitution of Shares. After any merger of one or more corporations into NovaMed, or after any consolidation of NovaMed and one or more corporation in which NovaMed shall be the surviving corporation, Option Holder shall, at not additional cost, be entitled, upon the exercise of the Option, to receive, subject to any required action by the share- holders shareholders of NovaMed and in lieu of the number of shares as to which the Option shall then be so exer- cisedexercised, the number and class of shares of stock or securities to which Option Holder would have been entitled pursuant to the terms of the Agreement of Merger or Consolidation if at the time of such merger or consolidation Option Holder had been a holder of record of a number of shares of common stock of NovaMed equal to the number of shares as to which the Option shall then be so exercised.of