Scheme Effective Time definition
Examples of Scheme Effective Time in a sentence
If, however, the parties agree that Ensco shall implement the Consolidation prior to the Scheme Effective Time, this document shall be updated prior to the despatch of the scheme document and proxy statement to reflect the effect of the Consolidation on the New Ensco Shares to be allotted and issued to the Scheme Shareholders pursuant to Section [2.2(d)] of the Transaction Agreement.
Prior to the Scheme Effective Time, two Newco Original Ordinary Shares and 49,998 redeemable preference shares ("Newco Original Preference Shares") shall be issued and outstanding.
This Scheme shall become effective as soon as an office copy of the Court order sanctioning this Scheme has been duly delivered to the Registrar of Companies for registration and the order and relative minutes have been registered by him (such time being referred to herein as the "Scheme Effective Time"); provided that the Scheme Effective Time shall occur prior to the Merger Effective Time.
It is currently expected that the Consolidation will be implemented immediately following the Scheme Effective Time.
On or prior to the Closing Date, Newco shall adopt memorandum and articles of association substantially similar to the memorandum and articles of incorporation of Parent immediately prior to the Scheme Effective Time, though they shall not be required to (but may) provide for a Newco Special Share (as defined in Section 2.1) and Newco's name shall become "National Grid plc".