Common use of Effect on Common Stock Clause in Contracts

Effect on Common Stock. At the Effective Time, as a result of the Merger and without any further action on the part of the Company, Parent, Sub or any holder of any shares of Company Common Stock or any shares of capital stock of Sub: (a) Common Stock of Sub. Each issued and outstanding share of common stock, par value $0.01 per share, of Sub shall be converted into and become one (1) fully paid and nonassessable share of common stock, par value $0.01 per share, of the Surviving Corporation.

Effect on Common Stock. At the Effective Time, as a result subject and pursuant to the terms and conditions of the Agreement, by virtue of the Merger and without any further action on the part of the Company, Parent, Sub Constituent Corporations or any holder the holders of any shares of Company Common Stock or any shares of capital the common stock of Subthe Constituent Corporations: (a) Common Stock of Acquisition Sub. Each issued and outstanding share of common stock, par value $0.01 .01 per share, of Acquisition Sub shall immediately prior to the Effective Time be deemed cancelled and converted into and become shall represent the right to receive one (1) fully paid and nonassessable share of common stock, par value $0.01 .01 per share, of the Surviving Corporation.