Effective Time of the Exchange Sample Clauses
The "Effective Time of the Exchange" clause defines the exact moment when the exchange of assets, shares, or other consideration between parties becomes legally effective. Typically, this clause specifies a particular date and time, or ties effectiveness to the completion of certain conditions, such as regulatory approvals or the closing of a transaction. By clearly establishing when the exchange takes effect, this clause ensures both parties know when their rights and obligations commence, thereby preventing disputes over timing and providing certainty in the execution of the agreement.
Effective Time of the Exchange. (a) The Exchange shall occur and be deemed effective without any further action by the Company or the Exchange Stockholders at the Effective Time and prior to the consummation of the sale of the shares of the Company’s capital stock in the IPO as part of the closing thereof.
(b) Upon the effectiveness of the Exchange, the Company shall deliver to each Exchange Stockholder such documentation as may be reasonably required to evidence that the New Shares have been duly issued and transferred to the applicable Exchange Stockholder.
Effective Time of the Exchange. Subject to the terms and conditions of this Agreement, and unless this Agreement shall have been terminated pursuant to ARTICLE VII, the Exchange shall become effective upon the completion of the Closing (the “Effective Time”).
Effective Time of the Exchange. The Exchange shall become effective at such time (the "Effective Time") as Metals and the Stockholders have completed their obligations pursuant to Section 4 hereof (the "Closing"). At the Effective Time of the Exchange, the Company shall become a wholly owned subsidiary of Metals, and the Stockholders and the ESOP shall be entitled to receive the consideration described herein, subject to the provisions hereof and as set forth herein.
Effective Time of the Exchange. The Exchange shall not become effective until, subject to the terms and conditions of this Plan of Exchange, 5:00 o’clock p.m. Central Standard Time on the day on which the following actions shall have in all respects been completed:
a. This Plan of Exchange shall have been approved by the respective board of directors of each of the Parties in accordance with the requirements of the laws of the states under which each Party is organized;
b. This Plan of Exchange shall have been approved by the members of the Company in accordance with the Company’s Operating Agreement and the Nebraska Limited Liability Company Act. The date and time when the Exchange shall become effective as aforesaid is herein referred to as “Effective Time of the Exchange.”
Effective Time of the Exchange. At the Effective Time of the Exchange, the COMPANY shall become a wholly owned subsidiary of CSI and the STOCKHOLDERS shall be entitled to receive the consideration described herein, all as set forth herein.
Effective Time of the Exchange. Upon receipt of all requisite shareholder approvals, (i) the Company shall file a duly executed Certificate of Exchange with the Texas Secretary of State (the "Texas Certificate of Exchange"), and (ii) NT Tech shall file a duly executed Certificate of Exchange with the Nevada Secretary of State (the "Nevada Certificate of Exchange") (together, the "Exchange Filings"). The "Effective Time" of the Exchange shall be the later of: (i) the date and time of acceptance for filing with the Texas Secretary of State of the Texas Certificate of Exchange, (ii) the date and time of acceptance for filing with the Nevada Secretary of State of the Nevada Certificate of Exchange, or (iii) such other time as shall be agreed to by the parties and set forth in the Texas Certificate of Exchange and the Nevada Certificate of Exchange, as applicable. The Exchange Filings shall be made as soon as practicable after the Closing of the transactions contemplated by this Agreement in accordance with Section 1.02.
Effective Time of the Exchange. Subject to the provisions of this Agreement, at the Closing, the parties hereto shall (a) cause a Form Section 105 (Form of Transfer of Securities) in substantially the form of Exhibit B (the “Malaysia Form of Transfer”) to be executed, acknowledged and filed with the Companies Commission of Malaysia, as provided in s 105 and 106 of the Malaysian Companies Act and (b) take all such other and further actions as may be required by the Malaysian Companies Act or other applicable Law to make the Exchange effective. The Exchange shall become effective as of the date and time of the filing of the Malaysia Form of Transfer or at such later date or time as may be agreed by the Company and Parent in writing and specified in the Malaysia Form of Transfer in accordance with relevant provisions of the Malaysian Companies Act. The date and time of such effectiveness are referred to herein as the “Effective Time.”
Effective Time of the Exchange. Subject to the provisions of this Agreement, shareholders of PEARL will exchange all of their PEARL Shares for COMPANY Shares (the "EXCHANGE"). The Exchange shall become effective pursuant to Section 23B.01.230 of the Washington Business Corporation Act as of 5:00 p.m., Pacific time on the date (the "EFFECTIVE TIME") the requisite Articles of Exchange pursuant to RCW 23B.11.050 and a Plan of Exchange are filed with the Secretary of State of the State of Washington.
Effective Time of the Exchange. Subject to the provisions of this Agreement, the parties shall file a Certificate of Share Exchange in such form as is required by, and executed in accordance with, the relevant provisions of the GBCC, including § 14-2-1105, and shall make all other filings or recordings required under the GBCC as soon as practicable on or after the Closing Date. The Exchange and other transactions contemplated by this Agreement shall become effective on the date and at the time the Certificate of Share Exchange reflecting the Exchange is duly filed with the Secretary of State of the State of Georgia, or at such other time and date as Red Alert and SIMEX shall agree and as specified in the Certificate of Share Exchange (the "Effective Time").
Effective Time of the Exchange. The Exchange shall become effective (the "Effective Time") on the later of (i) the day and at the time that the appropriate Articles of Exchange shall have been executed and filed in the office of the Secretary of State of Indiana, pursuant to the applicable provisions of the IBCL or (ii) one second after the effective time of the Merger.