Common use of Conversion of Common Shares Clause in Contracts

Conversion of Common Shares. Each Common Share that is issued and outstanding immediately prior to the Effective Time (other than (i) shares described in Section 2.1(a), (ii) Dissenting Shares and (iii) Rollover Shares (each, an “Excluded Share” and collectively, the “Excluded Shares”)) will automatically be converted into solely the right to receive, in cash, the Merger Consideration, payable upon surrender of such shares in the manner provided in Section 2.4.

Appears in 2 contracts

Sources: Merger Agreement, Merger Agreement (Cifc LLC)

Conversion of Common Shares. Each Common Share that is (each, a "Share" and collectively, the "Shares") issued and outstanding immediately prior to the Effective Time (other than (i) shares described Shares to be cancelled in accordance with Section 2.1(a), 3.1(a) and (ii) Dissenting Shares and (iii) Rollover Shares (each, an "Excluded Share" and collectively, the "Excluded Shares")) will automatically be converted into solely the right to receive, receive $22.50 in cash, without interest (the "Merger Consideration, payable upon surrender of such shares in the manner provided in Section 2.4").

Appears in 1 contract

Sources: Merger Agreement (Myers Industries Inc)