Adjusted Stock Consideration definition
Examples of Adjusted Stock Consideration in a sentence
For purposes hereof, the condition set forth in clause (i) above shall be deemed not to exist if the Exchange Ratio is increased so that the Adjusted Stock Consideration (calculated by using the Average Closing Price, as provided in the definition of “Adjusted Stock Consideration”) after such increase is not less than 80% of the Adjusted Stock Consideration calculated by using the Starting Price in lieu of the Average Closing Price.
Any shares of CU Bancorp Common Stock comprising the Stock Consideration or the Adjusted Stock Consideration, as applicable, that would have been issued to the holders of Dissenting Shares but for the operation of this Section 3.6, will not be issued in the Merger and will be remain authorized and unissued shares of CU Bancorp Common Stock.
As of the Execution Date, Buyer is eligible to register the resale of the shares of Buyer Common Stock comprising the Adjusted Stock Consideration under Form S-3 promulgated under the Securities Act.
However, in the event that the Adjusted Stock Consideration is more than fifty (50%) of the Stock Consideration than in such event X-ceed, at its election, has the right to rescind the transaction and cancel the issued and outstanding shares.
Buyer has, and at Closing will have, sufficient duly authorized shares of Buyer Common Stock to enable it to issue the Adjusted Stock Consideration to Seller.