Examples of Second Effective Time in a sentence
Without limiting the generality of the foregoing, and subject thereto, at the Second Effective Time, except as otherwise agreed pursuant to the terms of this Agreement, all of the property, rights, privileges, powers and franchises of the Company and Merger Subs shall vest in the Surviving Entity, and all debts, liabilities and duties of the Company and Merger Subs shall become the debts, liabilities and duties of the Surviving Entity.
Upon the terms and subject to the conditions set forth in this Agreement, at the Second Effective Time, the First Step Surviving Corporation will merge with and into Second Merger Sub, and the separate existence of the First Step Surviving Corporation shall cease.
At and after the Second Effective Time, the Second Merger shall have the effects set forth in this Agreement, the Second Certificate of Merger and in the applicable provisions of Nevada Corporate Law.
The Confidentiality Agreement shall remain in effect until the Second Effective Time, at which point it shall terminate.
The Company shall obtain and deliver to Parent at or prior to the Second Effective Time (or, at the option of Parent, at a later date) the resignation of each director of the Company, effective as of the Second Effective Time (or, at the option of Parent, at a later date) (the “Director Resignations”).