Options to Purchase Units. At the Effective Time, each then- ------------------------- outstanding option to purchase Units (each, an "Option"), whether or not then exercisable or fully vested, shall be assumed by the Corporation and shall constitute an option to acquire, on substantially the same terms and subject to substantially the same conditions as were applicable under such Option immediately prior to the Effective Time, the number of shares of Common Stock, determined by multiplying the number of Units subject to such Option immediately prior to the Effective Time by 3.0 (the "Conversion Factor"), at an exercise price per share of Common Stock (rounded to the nearest whole cent) equal to the exercise price per Unit of Units subject to such Option divided by the Conversion Factor.
Appears in 2 contracts
Sources: Merger Agreement (Greenmountain Com Co), Merger Agreement (Greenmountain Com Co)
Options to Purchase Units. At the Effective Time, each then- ------------------------- outstanding option to purchase Units (each, an "Option"), whether or not then exercisable or fully vested, shall be assumed by the Corporation and shall constitute an option to acquire, on substantially the same terms and subject to substantially the same conditions as were applicable under such Option immediately prior to the Effective Time, the number of shares of Common Stock, rounded down to the nearest whole share, determined by multiplying the number of Units subject to such Option immediately prior to the Effective Time by 3.0 ___ (the "Conversion Factor"), at an exercise price per share of Common Stock (rounded increased to the nearest whole cent) equal to the exercise price per Unit of Units subject to such Option divided by the Conversion Factor.
Appears in 1 contract
Sources: Agreement and Plan of Merger (Greenmountain Com Co)