Examples of Outstanding Company Option in a sentence
In consideration for such cancellation, the Parent shall, with respect to each Outstanding Company Option, pay to the holder thereof an amount equal to the excess (if any) of (a) the Cash Consideration over (b) price at which the holder may acquire a share of Company Common Stock upon exercise of such Outstanding Company Option (the "Option Cashout Payment").
The Company shall take such action as is necessary or appropriate under the terms of Company's Option Plans to convert each Outstanding Company Option, as of the Effective Time, into the right to receive an Option Cashout Payment upon the terms and conditions set forth herein.
The Parent shall make such payment as soon as practicable following the Effective Time or, if later in the case of any holder of an Outstanding Company Option, the date on which such holder delivers to the Parent his written acceptance of an Option Cashout Payment as full and complete consideration for the cancellation of each Outstanding Company Option held by him.
At the Effective Time, by virtue of the Merger and without any action on the part of the holder thereof, each Company Stock Option shall be cancelled and converted into the right to receive, for each Deemed Outstanding Company Option Share, the Cash Consideration and the Stock Consideration.
As soon as practicable after the Effective Time and upon surrender to the Equityholders’ Representative of each agreement representing an Outstanding Company Option, the Equityholders’ Representative shall pay out, with respect to each share of Company Common Stock subject to each Outstanding Company Option, an amount equal to the difference between the Initial Per Share Amount, if any, and the exercise price for each share of Company Common Stock subject thereto.
No payment shall be made pursuant to Section 1.09(a) with respect to any portion of a Outstanding Company Option that is converted into a Parent Option as aforesaid.
Any holder of an Outstanding Company Option not included in Section 1.09(b) may request a conversion identical to that described in Section 1.09(b); provided, however, that the Parent may, in its sole and absolute discretion, determine whether to accept or deny such request.
Each holder of an Outstanding Company Option cancelled as provided in this Section 1.7(a) shall cease to have any rights with respect thereto, except the right to receive the Option Merger Consideration (if any) specified in this Section 1.7(a).
Promptly following the date of this Agreement, and in any event prior to the Effective Time, the Company Board shall adopt appropriate resolutions and take all other actions as may be required to provide that each Outstanding Company Option will by virtue of the Merger, and without any action on the part of the holder thereof, be terminated and cancelled as of the Effective Time and no consideration shall be paid therefor.
If the Parent denies such request, the holder of the Outstanding Company Option shall be subject to Section 1.09(a).