GMI Common Stock definition
Examples of GMI Common Stock in a sentence
When any distribution pursuant to the Plan on account of an Allowed Interest would otherwise result in the issuance or delivery of a number of shares of GMI Common Stock that is not a whole number, the actual distribution of shares of GMI Common Stock shall be rounded to the next lower whole number with no further payment or other distribution therefor.
The total number of shares of GMI Common Stock to be distributed to holders of Allowed Interests shall be adjusted downward as necessary to account for the rounding provided in this Section 9.3.6.
No fractional shares of GMI Common Stock shall be distributed under the Plan.
Immediately prior to the effectiveness of the Plan, (a) outstanding GMI Options will accelerate and vest in full (to the extent not yet vested), (b) vested GMI Options (including those GMI Options that vested prior to the Effective Date under their terms) shall be deemed exercised on a net settled basis, and (c) the shares of GMI Common Stock that would be provided upon the exercise of such GMI Options shall be deemed outstanding as of the Effective Date.
Following the Effective Date, a management incentive plan shall provide for GMI Common Stock or similar interests in New GMI to be reserved for directors, officers, or employees of the Reorganized Debtors, as determined by the New Board.
New GMI shall take such steps as are reasonably necessary to list the GMI Common Stock on a national exchange.
Each deemed Holder of GMI Common Stock in respect of such exercised GMI Options shall be deemed to have exercised its Cash-Out Option with respect to such shares of GMI Common Stock.
No additional consideration, whether in cash, notes, property or shares of New GMI Common Stock or other securities of the GMI Corporations shall be issued to the Xxxx/Xxxxxx Group Parties or any other Related Party in connection with any such Capital Contribution.
If all 483,815 Subject Shares shall be purchased, the same shall represent, in the aggregate, the same aggregate number of shares of New GMI Common Stock as shall be issued to and owned of record and beneficially by all Senior Note Holder Parties or their Affiliates immediately following the Effective Date of the Plan.
At each regular or special meeting of the stockholders of the GMI Corporations called for the purpose, in whole or in part, to elect directors of such GMI Corporation, all Parties shall vote all of their shares of New GMI Common Stock to implement the provisions of this Section 7(a).