Examples of Stock Electing Shares in a sentence
If the Exchange Agent determines that any Election was not properly made with respect to VPT Shares, such shares shall be treated by the Exchange Agent as shares that were not Cash Electing Shares or Stock Electing Shares ("Non Electing Shares") at the Election Date, and such shares shall be exchanged in the Merger pursuant to Section 5.1(a).
Subject to the Company having received the proceeds, or the immediate right to receive the proceeds, of the Financing, AAC at the Closing will be capitalized with equity contributions in an amount at least equal to $80,000,000 minus the product of (i) the final aggregate number of Stock Electing Shares immediately prior to the Effective Time (after giving effect to the provisions of ss.2(f)) and (ii) $21.
As of the moment immediately prior to the Effective Time, the number of shares of AAC Common Stock that will be outstanding will equal the sum of (A) 3,809,524 minus (B) the final aggregate number of Stock Electing Shares immediately prior to the Effective Time (after giving effect to the provisions of ss.2(f)).
The Transferred Shares, together with the Stock Electing Shares, constitute 100% of the Shares held, beneficially and of record, by the Consenting Stockholder.
As a result of such elections, each Stockholder further agrees that all such shares of Convertible Preferred Stock and/or Series A Preferred Stock shall be Convertible Preferred Stock Electing Shares and/or Series A Preferred Stock Electing Shares, as applicable, in accordance with Section 2.2 of the Merger Agreement.