Examples of Surviving Corporation Class B Common Stock in a sentence
The Purchaser understands that the Shares and the shares of Surviving Corporation Class B Common Stock (and, after the conversion following the Merger, Surviving Corporation Common Stock) have not been registered under the Securities Act and cannot be sold unless subsequently registered under the Securities Act or an exemption from such registration is available.
As a result of the Merger, each share of common stock, $.10 par value per share, of Lennar ("Lennar Common Stock") will be converted into one share of Surviving Corporation Common Stock and each share of Class B common stock, $.10 par value per share, of Lennar ("Lennar Class B Common Stock") will be converted into one share of the Class B common stock of the Surviving Corporation ("Surviving Corporation Class B Common Stock").
The Purchaser is acquiring the Shares and the shares of Surviving Corporation Class B Common Stock (and, after the conversion following the Merger, Surviving Corporation Common Stock) for its own account, for investment purposes only and not with a view to the distribution (as such term is used in Section 2(11) of the Securities Act) thereof.
Each stock certificate of Sub evidencing ownership of any such shares shall continue to evidence ownership of such shares of Surviving Corporation Common Stock and shares of Surviving Corporation Class B Common Stock.
The State agency is not required to estab- lish a formal system of background checks for vendor applicants.
From and after the Effective Time, the ------------------------ Surviving Corporation shall act as exchange agent in effecting the exchange of the Class A Shares for the Surviving Corporation Class B Common Stock and Class B Shares for the Surviving Corporation Class A Common Stock.
No gain or loss will be recognized by the stockholders of Lennar upon the receipt of shares of Surviving Corporation Common Stock or Surviving Corporation Class B Common Stock solely in exchange for their shares of Lennar Common Stock or Lennar Class B Common Stock.
If, after the Effective Time (a) certificates representing Class A Shares are presented to the Surviving Corporation, they shall be cancelled and exchanged for the Surviving Corporation Class B Common Stock, subject to applicable law in the case of Dissenting Shares and (b) certificates representing Class B Shares are presented to the Surviving Corporation, they shall be cancelled and exchanged for the Surviving Corporation Class A Common Stock, subject to applicable law in the case of Dissenting Shares.
The basis of the Lennar stockholders in the shares of Surviving Corporation Common Stock or Surviving Corporation Class B Common Stock to be received in the Merger will be the same as their basis in the shares of Lennar Common Stock or Lennar Class B Common Stock surrendered in exchange therefor.
The holding period of the shares of Surviving Corporation Common Stock or Surviving Corporation Class B Common Stock to be received in the Merger by stockholders of Lennar will include the period during which the shares of Lennar Common Stock or Lennar Class B Common Stock surrendered in exchange therefor were held, provided that the shares 4 Lennar Corporation 4 September __, 1997 of Lennar Common Stock or Lennar Class B Common Stock were held as capital assets at the Effective Time of the Merger.