Examples of Western Options in a sentence
Similarly, Colmar Brunton’s (2009) “Kāpiti Coast Survey”, which was commissioned by the NZTA, found that nearly half (49 percent) of the 1,000 respondents preferred the Western Link Road (WLR) Option and 33 percent of respondents preferred the NZTA’s initial Eastern and Western Options.
All outstanding Western Common Shares have been duly authorized and validly issued, are fully paid and non-assessable and are not subject to, nor were they issued in violation of, any pre-emptive rights and all Western Common Shares issuable upon the exercise of Western Options in accordance with the terms of such options will be duly authorized and validly issued as fully paid and non-assessable and will not be subject to any pre-emptive rights.
Subject to the Interim Order, the Western Shareholder Approval is the only vote of the holders of any class or series of the Western Common Shares, Western Options or other Convertible Securities of Western necessary to approve this Agreement and the Arrangement.
However, New Gold makes no representation or warranty to Western, or Western Shareholders, or any holder of Western securities (including without limitation any holder of Western Options) or any Qualified Holdco Shareholder regarding the U.S. federal income tax consequences to Western, Western Shareholders, or any holder of Western securities of the Arrangement.
All In-The-Money Western Options held by directors or officers of Western shall have been exercised or shall have been surrendered for cancellation prior to the Effective Time.
Stock OptionsAs of the April 7, 2009, there were 12,913,718 Western Options outstanding of which certain directors and senior officers of Western beneficially owned, directly or indirectly, in the aggregate, 8,540,000 Western Options.
If the officers or directors do not exercise such 6,250,000 Western Options, they will not receive any consideration for these Western Options under the Arrangement.
The vesting of unvested Western Options is accelerated as a result of the Arrangement.
Pursuant to the Business Combination Agreement, the officers and directors of Western must exercise an aggregate of 6,250,000 In-The-Money Western Options prior to the Effective Time with the remainder of their Western Options to be exchanged for fully vested New Gold Replacement Options in accordance with the Arrangement.
With respect to Mr. Gerald Ruth, a director of Western, it has been agreed that 200,000 of the Western Options he holds, each exercisable at $2.80 per share, which would otherwise terminate 90 days following him ceasing to be a director, will be replaced by 200,000 New Gold Replacement Options expiring one year after the Effective Date.