Existing Common Stock Interest definition

Existing Common Stock Interest means any rights or interests with respect to, on account of or arising from any equity or similar interests in the Debtor represented by the Existing Common Stock, including, without limitation, any and all Claims (i) for damages arising from the rescission of the purchase or sale of the Existing Common Stock or (ii) for reimbursement or contribution allowed under section 502 of the Bankruptcy Code on account of such Claim, which Claims are subordinated pursuant to sections 510(b) and (c) of the Bankruptcy Code.

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Examples of Existing Common Stock Interest in a sentence

• With respect to subsequent CPR Distributions (CPR Distributions that occur after the date all or a portion of the Disputed Existing Common Stock Interest of Stockholder Y is disallowed), the total CPR Distributions made by Reorganized Ampex will be reduced by that portion of Stockholder Y’s Disputed Existing Common Stock Interests that became permanently disallowed.

• In the event that any Right Holder fails to surrender to the CPR Administrator certificates or other instruments evidencing Cancelled Common Stock pursuant to this Section 3(d), the Cancelled Common Stock evidenced by such certificates or other instruments held by such Right Holder shall be deemed a Disputed Existing Common Stock Interest and shall be subject to the terms set forth in Section 5 hereof.

• The $990,000 forfeited by Stockholder Z will be distributed to (i) the other Right Holders (in our example, Stockholder W is the only other Right Holder) and (ii) the CPR Reserve Account on account of Stockholder Y who holds Disputed Existing Common Stock Interest that can become Allowed Existing Common Stock Interest, in each case, on a pro rata basis.

• However, if Stockholder Y’s Disputed Existing Common Stock Interest is ultimately disallowed, his reserved CPR Distributions and his pro rata share of Stockholder Z’s forfeited CPR Distributions reserved on his behalf ($495,000) will be returned to Reorganized Ampex.