Examples of Harbor Global Common Stock in a sentence
Any registration statement filed by Harbor Global with the Securities and Exchange Commission (the "SEC") pursuant to the Securities Exchange Act of 1934, as amended (the "Exchange Act"), relating to Harbor Global Common Stock shall be effective under the Exchange Act.
Immediately prior to the Effective Time, subject to the satisfaction or waiver of the conditions set forth in Article VII of this Distribution Agreement, the Board of Directors of Parent shall declare the Distribution and shall authorize Parent to effect the Distribution by delivering certificates representing all of the issued and outstanding Harbor Global Common Stock to the Transfer Agent for delivery to the holders entitled thereto as described in Section 2.2 above.
The authorized capital stock of Harbor Global consists of 12 million shares of Harbor Global Common Stock of which a number of shares equal to one-fifth of the shares of Parent Common Stock issued and outstanding at the Time of Distribution are issued and outstanding and owned beneficially and of record by Parent and one million shares of Harbor Global Preferred Stock, none of which are issued and outstanding.
The Distribution will be effected by the declaration of the Distribution by the Board of Directors of Parent and the distribution to each holder of record of shares of Parent Common Stock as of the Record Date of certificates representing one share of Harbor Global Common Stock for every five shares of Parent Common Stock held by such holder on the Record Date multiplied by the number of shares of Parent Common Stock held by such holder.
Fractional shares of Harbor Global Common Stock will be distributed to holders entitled thereto.