MCN Stock definition

MCN Stock means common stock of MCN Energy Group Inc..
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Examples of MCN Stock in a sentence

  • The purpose of the Plan is to provide a convenient way for Participants to save on a regular and long-term basis for their retirement income needs; to recognize the contribution made to the Employer's successful operation by its employees and to reward such contribution for those employees who qualify as participants under the terms of the Plan; and to facilitate ownership of MCN Stock by participating Eligible Employees.

  • In no event shall the shares of MCN Stock acquired with contributions under this subsection (c) be allocated to the ESOP Account of such Participant later than the last day of the Plan Year during which (but for the use of the dividend to repay the loan) the dividend giving rise to such contribution would have been allocated to the ESOP Account of such Participant.

  • Such contributions shall be made on, or as soon as practicable after, each date on which dividends on allocated shares of MCN Stock are used to repay a loan.

  • A Participant may not transfer any amount from the MCN Stock account if the balance remaining in such account after the transfer would be less than the amount required to be credited to such account under Section 6.3 hereof, plus the earnings thereon.

  • The value of the shares of MCN Stock allocated to the ESOP Account of such Participant pursuant to section 14.4(d) for such pay period.

  • Each Employer also shall contribute to the ESOP Account of each of its participating Employees such amounts as may be necessary to acquire for the ESOP Account of such Participant shares of MCN Stock having a fair market value equal to the amount of any dividends on shares of MCN Stock allocated to the ESOP Account of such Participant that were used to repay an ESOP loan in accordance with section 14.4(c).

  • For purposes of sections 7.3 and 7.4, each Participant is hereby designated a "named fiduciary" within the meaning of ERISA section 403(a)(1) with respect to shares of MCN Stock as to which he is entitled to make voting or tender offer decisions.

  • Each Employer shall make contributions to the ESOP in accordance with section 4.3 hereof and the assets of the ESOP shall be invested at all times primarily in MCN Stock.

  • A Participant's ESOP Account shall be invested only in the MCN Stock fund, except to the extent that monies diversified under section 13.5 may, at the Participant's election, be directed to the Equities fund, the Senior Securities fund, or the Fixed Income fund.

  • Any such loan shall be secured solely by shares of MCN Stock acquired with the proceeds of the loan and shares of MCN Stock that were used as collateral on a prior loan which was repaid with the proceeds of the current loan.

Related to MCN Stock

  • Option Stock shall have the meaning set forth in Section 2(a) hereof.

  • Purchased Stock means a right to purchase Common Stock granted pursuant to Article IV of the Plan.

  • Amalco Shares means the common shares in the capital of Amalco;

  • Shares means the shares of Common Stock issued or issuable to each Purchaser pursuant to this Agreement.

  • Common Shares means the common shares in the capital of the Corporation;

  • Subco Shares means the common shares in the capital of Subco;

  • Fully Diluted Shares means the sum, without duplication, of (a) the number of shares of Common Stock issued and outstanding immediately prior to the Effective Time, (b) the number of shares of Preferred Stock that are issued and outstanding immediately prior to the Effective Time and (c) the number of shares of Common Stock underlying the Restricted Stock Units or any other equity or other convertible securities that are issued and outstanding immediately prior to the Effective Time.

  • Equity Shares means the Common Shares and any shares of any other class or series of the Corporation which may from time to time be authorized for issue if by their terms such shares confer on the holders thereof the right to participate in the distribution of assets upon the voluntary or involuntary liquidation, dissolution or winding up of the Corporation beyond a fixed sum or a fixed sum plus accrued dividends;

  • Common Stock means the common stock of the Company.

  • Purchaser Common Stock means the common stock, par value $0.01 per share, of Purchaser.

  • Additional Shares of Common Stock means all shares of Common Stock issued (or, pursuant to Subsection 4.4.3 below, deemed to be issued) by the Corporation after the Series B Original Issue Date, other than (1) the following shares of Common Stock and (2) shares of Common Stock deemed issued pursuant to the following Options and Convertible Securities (clauses (1) and (2), collectively, “Exempted Securities”):

  • Newco Shares means the common shares in the capital of Newco;

  • Seller Common Stock means the common stock, par value $0.01 per share, of Seller.

  • A Ordinary Shares means the A ordinary shares of £0.01 each in the capital of the Company;

  • Amalco Common Shares means common shares in the capital of Amalco;

  • shares of Common Stock means (i) the class of stock designated as the Common Stock of the Company at the date of this Agreement, or (ii) any other class of stock resulting from successive changes or reclassifications of such shares consisting solely of changes in par value, or from par value to no par value, or from no par value to par value. In the event that at any time, as a result of an adjustment made pursuant to paragraph (a) above, the Warrant Holders shall become entitled to purchase any securities of the Company other than shares of Common Stock, thereafter the number of such other securities so purchasable upon exercise of each Warrant and the Exercise Price of such securities shall be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to the provisions with respect to the Warrant Shares contained in paragraphs (a) through (i), inclusive, above, and the provisions of Section 7 and Section 12.2 through 12.5, inclusive, with respect to the Warrant Shares, shall apply on like terms to any such other securities.

  • Acquisition Shares means the shares of an Acquiring Fund to be issued to the corresponding Target Fund in a reorganization under this Agreement.

  • Parent Shares means the shares of common stock, par value $1.00 per share, of Parent.

  • A Shares means a participating share of no par value in the capital of the Fund, denominated in US Dollars;

  • Consideration Shares shall have the meaning set forth in Section 2.7(c).

  • Company Stock means, collectively, the Company Common Stock and the Company Preferred Stock.

  • Ordinary Shares means the ordinary shares, par value $0.0001 per share, of the Company.

  • B Shares means a participating share of no par value in the capital of the Fund, denominated in Euro(s);

  • Company Shares means the common shares in the capital of the Company;

  • ASA Shares has the meaning set forth in 2.4(a).