Common use of Termination of Exchange Period; Unclaimed Stock Clause in Contracts

Termination of Exchange Period; Unclaimed Stock. Any portion of the Exchange Fund (including the proceeds of any investments thereof and any shares of Parent Common Stock) that remains unclaimed by the stockholders of the Company one year after the Effective Time shall be delivered at Parent’s option, to Parent. Any stockholders of the Company who have not theretofore complied with this Article IV shall thereafter look only to Parent for delivery of any Merger Consideration and any cash, dividends and other distributions in respect thereof payable or deliverable pursuant to Section 4.2(c) and Section 4.2(e) upon due (i) surrender of their Certificates (or affidavits of loss in lieu thereof) or (ii) delivery of duly executed Registered Letters of Transmittal, as the case may be, in each case with respect to both clauses (i) and (ii), without any interest thereon. Notwithstanding the foregoing, none of Parent, the Surviving Corporation, the Exchange Agent or any other Person shall be liable to any former holder of Company Shares for any amount properly delivered to a public official pursuant to applicable abandoned property, escheat or similar Laws.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Verifone Systems, Inc.), Agreement and Plan of Merger (Hypercom Corp)

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Termination of Exchange Period; Unclaimed Stock. Any shares of SBC Common Stock and any portion of the cash, dividends or other distributions with respect to the SBC Common Stock deposited by SBC with the Exchange Fund Agent (including the proceeds of any investments thereof and any shares of Parent Common Stockthereof) that remains remain unclaimed by the stockholders of the Company one year 180 days after the Effective Time shall be delivered at Parent’s option, paid to ParentSBC. Any stockholders of the Company who have not theretofore complied with this Article IV shall thereafter look only to Parent SBC for delivery payment of any Merger Consideration their shares of SBC Common Stock and any cash, dividends and other distributions in respect thereof issuable and/or payable or deliverable pursuant to Section 4.2(c4.1, Section 4.2(b) and Section 4.2(e4.2(d) upon due (i) surrender of (i) their Certificates (or affidavits of loss in lieu thereof) or (ii) delivery of duly executed Registered Letters of Transmittal, as the case may be, in each case with respect to both clauses clause (i) and (ii), without any interest thereon. Notwithstanding the foregoing, none of ParentSBC, the Surviving Corporation, the Exchange Agent or any other Person shall be liable to any former holder of Company Shares for any amount properly delivered to a public official pursuant to applicable abandoned property, escheat or similar Lawslaws.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (SBC Communications Inc), Agreement and Plan of Merger (Ameritech Corp /De/)

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