Common use of Exchange of Interests Clause in Contracts

Exchange of Interests. At the Effective Time, by virtue of the Merger and without any action on the part of Merger Sub, CBOT, Ceres, eCBOT, any Limited Partner or any other Person: (1) All of the shares of capital stock of Merger Sub issued and outstanding as of immediately prior to the Effective Time, in the aggregate, shall be exchanged for and converted into the number of Ceres Class A-1 Units, Class A-2 Units, Class A-3 Units, Class A-4 Units, and Class B Units, respectively, issued and outstanding as of immediately prior to the Effective Time (other than any such Units held by eCBOT or CBOT).

Appears in 3 contracts

Sources: Merger Agreement (Cbot Holdings Inc), Merger Agreement (Cbot Holdings Inc), Merger Agreement (Board of Trade of the City of Chicago Inc)