Exchange and Paying Agent. Promptly following the Effective Time, the Company shall deposit with such bank or trust company as may be designated by the Company (the "Exchange and Paying Agent"), for the benefit of the NU Shareholders, for exchange in accordance with this Article II, through the Exchange and Paying Agent, certificates representing the shares of Company Common Stock and immediately available funds in amounts and at the times necessary to pay the Merger Consideration (such shares of Company Common Stock and funds, together with any dividends or distributions with respect thereto with a record date after the Effective Time, being hereinafter referred to as the "Exchange Fund") in exchange for outstanding NU Common Shares together with the associated NU Rights.
Appears in 2 contracts
Sources: Agreement and Plan of Merger (Northeast Utilities System), Agreement and Plan of Merger (Consolidated Edison Inc)