Common use of Termination of Exchange Agent Clause in Contracts

Termination of Exchange Agent. Any certificates representing Buyer Shares deposited with the Exchange Agent pursuant to Section 2.3(a) and not exchanged within six months after the Effective Time pursuant to this Section 2.3 shall be returned by the Exchange Agent to Buyer, which shall thereafter act as Exchange Agent. All funds held by the Exchange Agent for payment to the holders of unsurrendered Company Certificates and Dissenting Shares and unclaimed at the end of six months from the Effective Time shall be returned to Buyer, after which time any holder of unsurrendered Company Certificates shall look, as a general creditor only, to Buyer for payment of those funds to which the holder may be due, subject to applicable law.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Optika Inc), Agreement and Plan of Merger (Stellent Inc)

AutoNDA by SimpleDocs

Termination of Exchange Agent. Any certificates representing Buyer Shares ----------------------------- shares of Company Common Stock deposited with the Exchange Agent pursuant to Section 2.3(a) and not exchanged within six months after the Effective Time pursuant to this Section 2.3 shall be returned by the Exchange Agent to Buyerthe Company, which shall thereafter act as Exchange Agent. All funds held by the Exchange Agent for payment to the holders of unsurrendered Company Certificates and Dissenting Shares in lieu of fractional shares, and unclaimed at the end of six months one year from the Effective Time shall be returned to Buyerthe Company, after which time any holder of unsurrendered Company 12 Certificates shall look, look as a general creditor only, only to Buyer the Company for payment of those such funds to which the such holder may be due, subject to applicable law.

Appears in 1 contract

Samples: Agreement and Plan of Merger (B E C Energy)

AutoNDA by SimpleDocs

Termination of Exchange Agent. Any certificates representing Buyer Shares shares of Company Common Stock deposited with the Exchange Agent pursuant to Section 2.3(a) and not exchanged within six months after the Effective Time pursuant to this Section 2.3 shall be returned by the Exchange Agent to Buyerthe Company, which shall thereafter act as Exchange Agent. All funds held by the Exchange Agent for payment to the holders of unsurrendered Company Certificates and Dissenting Shares in lieu of fractional shares, and unclaimed at the end of six months one year from the Effective Time shall be returned to Buyerthe Company, after which time any holder of unsurrendered Company Certificates shall look, look as a general creditor only, only to Buyer the Company for payment of those such funds to which the such holder may be due, subject to applicable law.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Commonwealth Energy System)

Time is Money Join Law Insider Premium to draft better contracts faster.