Examples of SpinCo Common Stock in a sentence
Effective as of the Distribution Date, but prior to the Distribution, U.S. Home distributes to Lennar all of the shares of SpinCo Common Stock (as defined in the Distribution Agreement).
SpinCo will not issue paper stock certificates in respect of SpinCo Common Stock.
At least 10 calendar days before the Record Date, Lennar will make a public announcement of the Record Date, the Distribution Ratio for the number of shares of SpinCo Common Stock that are expected to be distributed for each outstanding share of Lennar Common Stock, and the expected Distribution Date.
Pursuant to Section 2.2, on the Effective Date, holders of Lennar Common Stock shall receive in the Distribution approximately 80% of the outstanding shares of SpinCo Common Stock, and Lennar shall retain the Retained Shares.
Lennar will have the right at any time before it delivers SpinCo Common Stock to the Distribution Agent, in its absolute discretion and with or without cause, to terminate this Agreement.