Automatic Share Exchange definition

Automatic Share Exchange means the automatic exchange to occur if the Holder of the B Ordinary Share has at the relevant time elected to issue SOLBE1 Shares to each Ordinary Shareholder, in exchange for his/her/its Ordinary Shares (other than the B Ordinary Shares), on the basis of the Share Exchange Ratio as contemplated in clause 32, but subject to clause 33.1;
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Automatic Share Exchange means the automatic exchange to occur if Sasol has at the relevant time elected to issue SOLBE1 Shares to the Company, in exchange for its SSA Khanyisa Shares and, if Sasol elects, for other assets of the Company other than cash, on the basis of the Share Exchange Ratio as contemplated in clause 31, but subject to clause 32;
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Automatic Share Exchange means, subject to clause 18.2.1, the automatic exchange of SOLBE1 Shares to be issued by Sasol, either as selected by Sasol in its sole discretion, to:1. 3.6.1. the Trustees, for all of their remaining SSA Khanyisa Shares; or alternatively1. 3.6.2. each Khanyisa Tier 2 Participant in whose name his/her share of the SSA Khanyisa Shares have been transferred by the Trustees, for all his/her SSA Khanyisa Shares;1.3.7. "Bargaining Council" means a bargaining council established in terms of the LRA;1.3.8. "B-BBEE" means broad-based black economic empowerment as defined in the B-BBEE Act and the Codes;1.3.
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Examples of Automatic Share Exchange in a sentence

  • TIER 2 PARTICIPANTS20.1. On the Khanyisa Tier 2 Transfer Date, the Entitlement Assets which are shares, or the SOLBE1 Shares if the Automatic Share Exchange has occurred, and, if applicable the non-automatic share exchange contemplated in clause 18.3, less Specific Taxation and Expenses (which shall be dealt with as contemplated in either clause 20.4 or 20.5) shall thenceforth be held by:20.

  • This shall not restrict the extension of the regular workweek on an overtime basis when such is necessary to carry on the business of the School District.

  • Any notice as sent by us shall be deemed to have been received by you 5 days after the date of posting.You and/or the Company must send or confirm any notice to us byprepaid post to our principal place of business in Hong Kong which is currently 18/F, Cityplaza 4, 12 Taikoo Wan Road, Taikoo Shing, Hong Kong.

  • TRUSTThe Trustees shall, unless and to the extent that the Company and Sasol may otherwise in writing agree, not:29.1. save for the Plan Assets or SOLBE1 Shares pursuant to the Automatic Share Exchange, acquire any other asset except for holding cash, or if the asset relates to the Plan Assets for example following an unbundling transaction;29.

  • TRUST The Trustees shall, unless and to the extent that the Company and Sasol may otherwise in writing agree, not: 29.1. save for the Plan Assets or SOLBE1 Shares pursuant to the Automatic Share Exchange, acquire any other asset except for holding cash, or if the asset relates to the Plan Assets for example following an unbundling transaction; 29.2. pledge, cede in security, mortgage or otherwise hypothecate or encumber any assets or any of the rights attached to the Plan Assets; 29.

  • If the selection has been made in terms in clause 1.3.6.2, any cash remaining on the later of the Khanyisa Tier 2 Transfer Date and the application of the Automatic Share Exchange which is not required to settle Costs, shall vest in and be paid to all of the Khanyisa Tier 2 Participants pro rata to their respective Vested Rights on the Final Date.

  • If the selection has been made in terms in clause 1.3.5.2, any cash remaining on the later of the Khanyisa Tier 2 Transfer Date and the application of the Automatic Share Exchange which is not required to settle Costs, shall vest in and be paid to all of the Khanyisa Tier 2 Participants pro rata to their respective Vested Rights on the Final Date.


More Definitions of Automatic Share Exchange

Automatic Share Exchange means, subject to clause 18.2.1, the automatic exchange of SOLBE1 Shares to be issued by Sasol, either as selected by Sasol in its sole discretion, to: 1.3.6.1. the Trustees, for all of their remaining SSA Khanyisa Shares; or alternatively 1.3.6.2. each Khanyisa Tier 2 Participant in whose name his/her share of the SSA Xxxxxxxx Xxxxxx have been transferred by the Trustees, for all his/her SSA Xxxxxxxx Xxxxxx;
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Automatic Share Exchange means, subject to clause 19.2.1, the automatic exchange of SOLBE1 Shares to be issued by Sasol (or Designated Assets if clause 22.1.3 is applicable, to be furnished by the Offeror), either as selected by Sasol (or if clause 22.1.3 is applicable, the Offeror) in its sole and absolute discretion, to:
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Automatic Share Exchange means the automatic exchange to occur at the end of the empowerment period (which will end on 1 June 2028 unless either Sasol determines that it will end on an earlier date or other circumstances trigger its earlier ending), when the Company will issue SOLBE1 Shares:
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Related to Automatic Share Exchange

  • Share Exchange has the meaning set forth in Section 2.1.

  • Share Exchange Event shall have the meaning specified in Section 14.07(a).

  • Share Exchange Ratio means the ratio at which the Transferee Bank shares shall be allotted to the Transferor Banks’ shareholders as set out in the Schedule; and

  • Initial Merger Consideration has the meaning set forth in Section 2.2(a).

  • Common Share Reorganization has the meaning set forth in Section 4.1;

  • Effective Time of the Merger means the time as of which the Merger becomes effective, which shall occur on the Funding and Consummation Date.

  • First Merger has the meaning set forth in the Recitals.

  • Pre-Closing Reorganization has the meaning set forth in the Recitals.

  • Merger Closing means “Closing,” as that term is defined in the Merger Agreement.

  • Make-Whole Acquisition Stock Price means the consideration paid per share of Common Stock in a Make-Whole Acquisition. If such consideration consists only of cash, the Make-Whole Acquisition Stock Price shall equal the amount of cash paid per share of Common Stock. If such consideration consists of any property other than cash, the Make-Whole Acquisition Stock Price shall be the average of the Closing Price per share of Common Stock on each of the 10 consecutive Trading Days up to, but not including, the Make-Whole Acquisition Effective Date.

  • Change in Control Transaction means the occurrence of any of the following events:

  • Company Shareholder Approval has the meaning set forth in Section 4.03(d).

  • Per Share Merger Consideration has the meaning set forth in Section 3.1(a).

  • Closing Merger Consideration has the meaning set forth in Section 3.2(a)(ii).

  • Share Exchange Agreement has the meaning specified in the Recitals.

  • Merger Transaction means any merger, acquisition or similar transaction involving a recapitalization as contemplated by Rule 10b-18(a)(13)(iv) under the Exchange Act.

  • Exchange Transaction means an exchange of Units for Common Units pursuant to, and in accordance with, the Exchange Agreement or, if the Issuer and the exchanging Limited Partner shall mutually agree, a Transfer of Units to the Issuer, the Partnership or any of their subsidiaries for other consideration.

  • Conversion Stock means shares of Common Stock issued upon conversion of the Preferred Stock.

  • Merger Closing Date the Closing Date (as defined in the Merger Agreement).

  • Company Merger has the meaning specified in the Recitals hereto.

  • Company Convertible Notes means the convertible notes issued by the Company pursuant to the convertible note purchase agreement by and among the Company, PA Grand Opportunity Limited and other investors named therein dated June 6, 2016, as amended on June 13, 2016.

  • Founder Shares Lock-up Period means, with respect to the Founder Shares, the period ending on the earlier of (A) one year after the completion of the Company’s initial Business Combination and (B) subsequent to the Business Combination, (x) if the closing price of the Common Stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the Company’s initial Business Combination or (y) the date on which the Company completes a liquidation, merger, capital stock exchange, reorganization or other similar transaction that results in all of the Company’s stockholders having the right to exchange their shares of Common Stock for cash, securities or other property.

  • Pre-Exchange Transfer means any transfer or distribution in respect of one or more Common Units (i) that occurs prior to an Exchange of such Common Units, and (ii) to which Section 743(b) or 734(b) of the Code applies.

  • Total Merger Consideration has the meaning set forth in Section 2.2(a).

  • Lock-Up Shares has the meaning set forth in Section 4.1.

  • Stock Split means any kind of stock split in relation to the Shares, including a free share distribution to the holders of Shares, a stock dividend or a sub-division of Shares;