Subdivision or Consolidation Clause Samples
The Subdivision or Consolidation clause defines the rights and procedures for dividing a property into smaller lots or combining multiple lots into a single parcel. Typically, this clause outlines the conditions under which such changes can be made, such as requiring the consent of certain parties or compliance with local zoning laws. Its core function is to provide a clear framework for altering the configuration of property boundaries, thereby preventing disputes and ensuring that any changes are managed in an orderly and legally compliant manner.
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Subdivision or Consolidation. The Multiple Voting Shares shall not be consolidated or subdivided unless the Subordinate Voting Shares and the Proportionate Voting Shares are simultaneously consolidated or subdivided utilizing the same divisor or multiplier.
Subdivision or Consolidation. No subdivision or consolidation of the Exchangeable Shares may be carried out unless, at the same time, the Proportionate Voting Shares and Common Shares are subdivided or consolidated in a manner so as to preserve the relative rights of the holders of each class of securities.
Subdivision or Consolidation. No subdivision or consolidation of the Subordinate Voting Shares, Multiple Voting Shares or Super Voting Shares shall occur unless, simultaneously, the Subordinate Voting Shares, Multiple Voting Shares and Super Voting Shares are subdivided or consolidated in the same manner or such other adjustment is made so as to maintain and preserve the relative rights of the holders of the shares of each of the said classes.
Subdivision or Consolidation. The New Multiple Shares shall not be consolidated or subdivided unless the New Subordinate Shares and the Floating Shares are simultaneously consolidated or subdivided utilizing the same divisor or multiplier.
Subdivision or Consolidation. The Floating Shares shall not be consolidated or subdivided unless the New Subordinate Shares and the New Multiple Shares are simultaneously consolidated or subdivided utilizing the same divisor or multiplier. Capitalized terms used but not defined in this Appendix A shall have the meaning ascribed thereto in the Amended Plan of Arrangement (the “Amended Plan of Arrangement”).
Subdivision or Consolidation. No subdivision or consolidation of the Class A Shares may be carried out unless, at the same time, the Exchangeable Shares and the Class B Shares are subdivided or consolidated in a manner so as to preserve the relative rights of the holders of each class of securities.
Subdivision or Consolidation. No subdivision or consolidation of the Multiple Voting Shares or the Subordinate Voting Shares shall be carried out unless, at the same time, the Multiple Voting Shares or the Subordinate Voting Shares, as the case may be, are subdivided or consolidated in the same manner and on the same basis so as to preserve the relative economic and voting interests of the two classes.
Subdivision or Consolidation. The New Subordinate Shares shall not be consolidated or subdivided unless the New Multiple Shares and the Floating Shares are simultaneously consolidated or subdivided utilizing the same divisor or multiplier. The Company will be authorized to issue 117,600 Class F multiple voting shares (“New Multiple Shares”), without nominal or par value, having attached thereto the special rights and restrictions as set forth below:
Subdivision or Consolidation. Subject to any required action by shareholders of the Company, the number of shares of Common Stock covered by the Option SAR, and the Exercise Price thereof, shall be proportionately adjusted for any increase or decrease in the number of issued shares of Common Stock of the Company resulting from a subdivision or consolidation of shares, including, but not limited to, a stock split, reverse stock split, recapitalization, continuation or reclassification, or the payment of a stock dividend or any other increase or decrease in the number of such shares effected without receipt of consideration by the Company. Any fraction of a share subject to the Option that would otherwise result from an adjustment pursuant to this Section shall be rounded upward to the next full number of shares without other compensation or consideration to the Executive
Subdivision or Consolidation. No subdivision or consolidation of the Class B Common Stock may be carried out unless, at the same time, the Class A Common Stock and Class C Common Stock are subdivided or consolidated in a manner so as to preserve the relative rights of the holders of each class of securities.