Termination of Stock Option Plans. Except as otherwise agreed to by the parties, prior to the Effective Time, (i) the Company shall cause the Company Stock Option Plans to be terminated as of the Effective Time and the provisions in any other plan, program or arrangement providing for the issuance or grant of any other interest in respect of Company Common Stock or any equity securities in any of the Subsidiaries to be deleted as of the Effective Time, and (ii) the Company shall take all action necessary to ensure that the payments or conversions into the right to receive cash set forth in Section 6.7(a) extinguish all rights of participants under the Company Stock Option Plans and such plans, programs and arrangements to receive equity securities of the Company or any of its Subsidiaries and that following the Effective Time no such participant shall have any right thereunder to acquire equity securities of the Company, the Surviving Corporation, the Parent or any of their respective Subsidiaries.
Termination of Stock Option Plans. As the plan sponsor, the Company will (i) not issue options to purchase Company Common Shares under any of the Stock Option Plans after the date of this Agreement, (ii) cause all of the Company Options issued under the Stock Option Plans and outstanding as of the date of this Agreement to become fully vested and immediately exercisable upon the satisfaction of the Minimum Tender Condition, (iii) exercise its authority under the Stock Option Plans to cause each Company Option still outstanding at the Effective Time of the Merger to be converted into the right to receive in cash an amount equal to the Net Gain attributable to such Company Option, and (iv) cause all of the Stock Option Plans and all of the Company Options outstanding under such Plans to be terminated effective as of the Closing Date, subject to the right of the holders of Company Options to receive the Net Gains attributable to their Company Options as described in Section 2.1(e) hereof.
Termination of Stock Option Plans. The Company shall have delivered to the Buyer a duly executed resolution of the Board of Directors or the Stockholders (as applicable) evidencing termination of the Stock Plans.
Termination of Stock Option Plans. Immediately prior to the Closing Date, the Company shall terminate each of its Stock Option Plans.
Termination of Stock Option Plans. Each of the Stock Option Plans shall have been terminated without liability to Investor, the Company or any of their Affiliates, and Investor shall have received evidence satisfactory to it of such termination.
Termination of Stock Option Plans. CorpBank shall have caused its stock option plans to be terminated as of the Calculation Date and shall have obtained the consents or agreements specified in, and otherwise shall have complied with the terms of, Section 5.12.
Termination of Stock Option Plans. AIB shall have caused the AIB Stock Option Plans to be terminated as of the Effective Time of the Consolidation and shall have obtained the consents or agreements and otherwise shall have complied with the terms of Subarticles 5.5 and 5.6 hereof.
Termination of Stock Option Plans. Any stock option plan which may permit the future granting of individual stock options to acquire shares of CBI Common Stock shall be terminated prior to the Closing Date.
Termination of Stock Option Plans. On or prior to the Closing, Pegasus shall take all actions necessary to terminate the Stock Option Plans and satisfy all of its obligations thereunder, including, without limitation, those relating to any outstanding Options or SARs (as such terms are defined in the Stock Option Plans). If Pegasus takes such actions after the Valuation Date, Pegasus shall have accrued and expensed all such obligations under the Stock Option Plans prior to the Valuation Date.
Termination of Stock Option Plans. The Company and the Subsidiaries shall (a) have terminated any stock option plans of the Company or the Subsidiaries, and (b) as required by Section 1.13, have taken all actions necessary such that, effective as of the Effective Time, each Company Stock Option which has been granted by the Company pursuant to the Company Stock Plans shall not be assumed by Merger Sub or Parent and shall instead automatically terminate in accordance with Section 7(b) of the applicable Company Stock Plan. At Closing, the Company shall have delivered evidence of the termination of such stock option plans to Parent.
