Examples of CRC Common Stock in a sentence
Subject to the provisions of Section 4, a RS Unit is a bookkeeping entry that represents the right to receive upon vesting, as set forth in Section 3, one share of CRC Common Stock, $0.01 par value (the “Common Stock”).
Each OPC LTI Mixed-Settlement Unit that is outstanding, unvested and held by a CRC Group Employee as of immediately prior to the Effective Time (a “CRC Employee Mixed-Settlement Unit”) shall, upon the Effective Time, be converted into an award of incentive units granted under the CRC New Equity Plan with respect to a number of shares of CRC Common Stock equal to the CRC Share Number (a “CRC MSU”).
Subject to the provisions of Section 5, a PS Unit is a bookkeeping entry that represents the right to receive upon achievement of the Performance Goal, as set forth in Section 4, one share of CRC Common Stock, $0.01 par value (the “Common Stock”).
Neither OPC nor CRC will be required to guarantee any minimum sale price for the fractional shares of CRC Common Stock.
Each OPC DSU that is outstanding and held by a CRC Director as of immediately prior to the Effective Time (a “CRC Director DSU”) shall, upon the Effective Time, be converted into a common stock unit granted under the CRC New Equity Plan with respect to a number of shares of CRC Common Stock equal to the CRC Share Number (a “CRC DSU”).
If OPC determines, in its sole discretion, at any time after the Distribution Date, that the CRC Common Stock distributed in the Initial Distribution constitutes less than 80.1% of the outstanding shares of CRC Common Stock, OPC will contribute to CRC, for cancellation, that number of shares of CRC Common Stock necessary to cause the CRC Common Stock distributed in the Initial Distribution to constitute at least 80.1% of the outstanding shares of CRC Common Stock.
Such shares of CPI Common Stock, CPI Class B Common Stock, CPI Class C Common Stock and CRC Common Stock (collectively, the "Common Stock") are proposed to be issued pursuant to the Agreement and Plan of Merger, dated as of February 18, 1998, among Simon DeBartolo Group, Inc., Corporate Property Investors (predecessor to CPI) and CRC (the "Merger Agreement").
Each OPC Director who is the holder of outstanding OPC DSAs immediately prior to the Effective Time, shall receive from OPC, upon the Initial Distribution being made, such number of shares of CRC Common Stock as determined by applying the Distribution Ratio in the same way as if such outstanding OPC DSAs were fully vested and transferrable shares of OPC Common Stock as of the Effective Time.
The shares of CRC Common Stock so distributed to such OPC Director shall be subject to substantially the same terms and conditions (including transfer restrictions) immediately following the Effective Time as applicable to the OPC DSAs held by such OPC Director immediately prior to the Effective Time.
CCL currently owns 2,490,000 shares (the "Purchased Shares") of common stock, $.005 par value per share (the "CRC Common Stock"), of CRC Holdings, Inc.