Conversion and Distribution of Securities Clause Samples

Conversion and Distribution of Securities. (a) Conversion of CTx Securities. Subject to Section 3. (d), the effect of the Merger on the Units of CTx shall be as follows: (i) At the Effective Time, each CTx Capital Unit and all rights in respect thereof that are outstanding immediately prior to the Effective Time shall, without any further action on the part of anyone, be changed and converted into the number of shares of Parent Common Stock determined by dividing (i) the applicable Per Unit Value attributable to such CTx Capital Unit; by (ii) the Parent Per Share Price. (ii) At the Effective Time, each CTx PIU and all rights in respect thereof that are outstanding immediately prior to the Effective Time shall, without any further action on the part of anyone, be changed and converted into the number of shares of Parent Common Stock determined by dividing (i) the applicable Per Unit Value attributable to such CTx PIU; by (ii) the Parent Per Share Price.