Certain Mergers. Subject to any required action by the Unit Holders of ASC, in the event that ASC shall be the surviving corporation in any merger or consolidation (except a merger or consolidation as a result of which the holders of Membership Units receive securities of another corporation), the Restricted Equity Units outstanding on the date of such merger or consolidation shall pertain to and apply to the securities that a holder of the number of Membership Units subject to any such Restricted Equity Units would have received in such merger or consolidation (it being understood that if, in connection with such transaction, the Unit Holders of ASC retain their Membership Units and are not entitled to any additional or other consideration, the Restricted Equity Units shall not be affected by such transaction).
Appears in 2 contracts
Sources: Restricted Equity Unit Grant Agreement (ASC Acquisition LLC), Restricted Equity Unit Grant Agreement (ASC Acquisition LLC)