Common use of Mixed Election Clause in Contracts

Mixed Election. Subject to the immediately following sentence, each record holder of shares of Waypoint Common Stock immediately prior to the Effective Time shall be entitled to elect to receive shares of Sovereign Common Stock for part of such holder's shares of Waypoint Common Stock and cash for the remaining part of such holder's shares of Waypoint Common Stock (the "Mixed Election" and, collectively with Stock Election and Cash Election, the "Election"). With respect to each holder of Waypoint Common Stock who makes a Mixed Election, the shares of Waypoint Common Stock such holder elects to be converted into the right to receive the Stock Consideration shall be treated as Stock Election Shares for purposes of the provisions contained in Sections 1.02(f)(iv) and (v) and the shares such holder elects to be converted into the right to receive Cash Consideration shall be treated as Cash Election Shares for purposes of the provisions contained in Sections 1.02(f)(vi) and (vii).

Mixed Election. Subject to the immediately following sentence, each record holder of shares of Waypoint Seacoast Common Stock immediately prior to the Effective Time shall be entitled to elect to receive shares of Sovereign Common Stock for part of such holder's ’s shares of Waypoint Seacoast Common Stock and cash for the remaining part of such holder's ’s shares of Waypoint Seacoast Common Stock (the "“Mixed Election" ” and, collectively with Stock Election and Cash Election, the "“Election"”). With respect to each holder of Waypoint Seacoast Common Stock who makes a Mixed Election, the shares of Waypoint Seacoast Common Stock such holder elects to be converted into the right to receive the Stock Consideration shall be treated as Stock Election Shares for purposes of the provisions contained in Sections 1.02(f)(iv1.02(e)(iv) and (v) and the shares such holder elects to be converted into the right to receive Cash Consideration shall be treated as Cash Election Shares for purposes of the provisions contained in Sections 1.02(f)(vi1.02(e)(vi) and (vii).

Mixed Election. Subject to the immediately following sentence, each record holder of shares of Waypoint Main Street Common Stock immediately prior to the Effective Time shall be entitled to elect to receive shares of Sovereign Common Stock for part of such holder's shares of Waypoint Main Street Common Stock and cash for the remaining part of such holder's shares of Waypoint Main Street Common Stock (the "Mixed Election" and, collectively with Stock Election and Cash Election, the "Election"). With respect to each holder of Waypoint Main Street Common Stock who makes a Mixed Election, the shares of Waypoint Main Street Common Stock such holder elects to be converted into the right to receive the Stock Consideration shall be treated as Stock Election Shares for purposes of the provisions contained in Sections 1.02(f)(iv1.02(e)(iv) and (v) and the shares such holder elects to be converted into the right to receive Cash Consideration shall be treated as Cash Election Shares for purposes of the provisions contained in Sections 1.02(f)(vi1.02(e)(vi) and (vii).