Examples of Patriot Common Stock in a sentence
The Executive may be granted options and opportunities to purchase Patriot Common Stock consistent with stock purchase plans and option plans provided to senior management of Patriot and as may be awarded in the sole discretion of Patriot's Board of Directors from time to time.
On or before the Distribution Date, and in exchange for the transfer by PEC to Patriot of the stock and assets as provided above, and the surrender for reissue of all certificates representing outstanding Patriot Common Stock, Patriot will issue and deliver to PEC a certificate representing shares of Patriot Common Stock constituting all the shares to be distributed as provided in Section 3.03 below.
On or prior to the Distribution Date and effective as of the Effective Time, PEC shall contribute to Patriot all of the Patriot Assets in exchange for a number of shares of Patriot Common Stock that when combined with the shares of Patriot Common Stock already owned by PEC shall equal all the shares to be distributed as provided in Section 3.03 below (the “Contribution”).
Patriot agrees to provide all certificates for shares of Patriot Common Stock that the Distribution Agent shall require in order to effect the Distribution.
The Executive may be granted options and opportunities to purchase Patriot Common Stock as may be awarded in the sole discretion of Patriot's Board of Directors from time to time.
If, after the Effective Time, any certificates or book-entry shares formerly representing shares of Patriot Common Stock are presented to the Surviving Corporation or the Exchange Agent for any reason, they shall be cancelled and exchanged as provided in this Article I.
No dividends or other distributions with respect to Fountain Common Stock with a record date after the Effective Time shall be paid to the holder of any unexchanged shares of Patriot Common Stock with respect to the shares of Fountain Common Stock issuable upon exchange thereof, and no cash payment in lieu of fractional shares shall be paid to any such holder pursuant to Section 1.12, until, in each case, the exchange of such shares of Patriot Common Stock in accordance with this Article I.
At the Effective Time, the stock transfer books of Patriot shall be closed with respect to the shares of Patriot Common Stock that were outstanding immediately prior to the Effective Time, and there shall be no further registration of transfers on the stock transfer books of the Surviving Corporation of shares of Patriot Common Stock that were outstanding immediately prior to the Effective Time.
For the avoidance of doubt, the Board of Directors of Patriot has taken all requisite action to ensure that the requisite shareholders vote to approve the Merger has been decreased from two-thirds of the voting power of the outstanding shares of Patriot Common Stock to a majority.
Prior to the Distribution Date, Patriot shall take all actions necessary to issue to FRP, by stock dividend or by recapitalization, such number of shares of Patriot Common Stock such that, immediately prior to the Distribution Date, Patriot will have an aggregate number of outstanding shares of Patriot Common Stock equal to the number of shares of Patriot Common Stock to be distributed to the holders of FRP Common Stock in the Distribution.