Certificate Delivery Requirements. At the Effective Time, the Stockholders shall deliver to AppNet the certificates (the "Certificates") representing Company Common Stock, duly endorsed in blank by the Stockholders, or accompanied by blank stock powers duly executed by the Stockholders and with all necessary transfer tax and other revenue stamps, acquired at the Stockholders' expense, affixed and canceled. The Stockholders shall promptly cure any deficiencies with respect to the endorsement of the Certificates or other documents of conveyance with respect to the stock powers accompanying such Certificates. The Certificates so delivered shall forthwith be canceled. Until delivered as contemplated by this Section 1.5(b), each Certificate shall be deemed at any time after the Effective Time to represent the right to receive upon such surrender the Merger Consideration as provided by this Section 1.
Appears in 1 contract
Sources: Agreement and Plan of Reorganization (Commerce One Inc)
Certificate Delivery Requirements. At the Effective TimeClosing, the Stockholders shall deliver to AppNet Buyer the certificates (the "Certificates") representing Company Common the Stock, duly endorsed in blank by the Stockholders, or accompanied by blank stock powers duly executed by the Stockholders and with all necessary transfer tax and other revenue stamps, acquired at the Stockholders' expense, affixed and canceled. The Stockholders shall promptly cure any deficiencies with respect to the endorsement of the Certificates or other documents of conveyance with respect to the stock powers accompanying such Certificates. The Certificates so delivered shall forthwith be canceled. Until delivered as contemplated by this Section 1.5(b), each Certificate shall be deemed at any time after the Effective Time to represent the right to receive upon such surrender only the Merger Consideration Purchase Price as provided by this Section Article 1.
Appears in 1 contract