TRANSFER OF MANAGEMENT COMPANY SHARES. At the Closing, Wellsford shall cause the owners (other than Wellsford or a wholly-owned subsidiary of Wellsford) to transfer to such person or persons as EQR shall designate by written notice delivered to Wellsford prior to the Closing, all of the shares of Wellsford Xxxxx Management Inc. ("Management Corp.") owned by them, constituting all the outstanding shares of the Management Corp. which are not owned by Wellsford or a wholly-owned subsidiary of Wellsford for an aggregate consideration of $1.00, unless Management Corp. was dissolved prior to the Closing Date.
Appears in 4 contracts
Samples: Agreement and Plan of Merger (Equity Residential Properties Trust), Tax Sharing Agreement (Equity Residential Properties Trust), Agreement and Plan of Merger (Wellsford Residential Property Trust)
