Conversion of Acquisition Common Stock. At the Effective Time of Merger, and without any action on the part of the holders of common stock of Acquisition, each share of common stock of Acquisition issued and outstanding at the Effective Time of Merger shall be converted into one (1) share of ZERO Common Stock.
Conversion of Acquisition Common Stock. At the Effective Time, each share of Common Stock, $.01 par value, of Acquisition that is issued and outstanding immediately prior to the Effective Time shall remain outstanding and, by virtue of the Merger, automatically and without the need for any action on the part of the holder thereof, shall be converted into and become one (1) validly issued, fully paid and nonassessable share of Common Stock of the Surviving Corporation.
Conversion of Acquisition Common Stock. At the Effective Time, each share of Acquisition Common Stock that is issued and outstanding immediately prior to the Effective Time shall thereafter represent one validly issued, fully paid and nonassessable share of common stock of the Surviving Corporation.
Conversion of Acquisition Common Stock. At the Effective Time of Merger, and without any action on the part of the holders thereof, each share of common stock of Acquisition issued and outstanding at the Effective Time of Merger shall be converted into one (1) share of ESELCO Common Stock.
Conversion of Acquisition Common Stock. At the Effective Time of the Merger, all of the eight thousand seven hundred ninety-nine (8,799) shares of the common stock of IDT, $1.00 par value (the "IDT Common Stock") issued and outstanding immediately prior to the Effective Time of the Merger (including 5,490 shares under options to be exercised immediately prior to the Effective Time of the Merger) shall, by virtue of the Merger and without any action on the part of the holder thereof, be converted into and exchangeable for the "Merger Consideration Amount," which shall equal the Consideration Amount (as defined in Section 4.1) minus the Non-Competition Consideration Amount (as also defined in Section 4.1). The Merger Consideration Amount shall be paid in the aggregate as follows, and shall be allocated among the Shareholders in accordance with Schedule 3.1:
Conversion of Acquisition Common Stock. All of the shares of Common Stock, par value $0.01 per share, of Acquisition (the "Acquisition Common Stock") issued and outstanding immediately prior to the Effective Time shall be converted into that number of shares of Inter state Common Stock (as the surviving c6rporation in the Interstate Merger) which shall be equivalent to the aggregate number of shares of Interstate CommonStock (exclusive of the shares Time,provided, however, if a Wisconsin Regulatory shall have occurred, all of the shares of canceled pursuant to Section 2 (a)(ii))issued and outstanding immediately prior to the Effective Event Acquisition Common Stock issued and outstanding immediately prior to the Effective Time shall be converted into that number of shares of New Interstate Common Stock (as the surviving corporation in the Interstate Merger) which shall be equivalent to the aggregate number of shares of New Interstate Comnmon Stock (exclusive of the shares canceled pursuant to Section 2 .1(a)(ii)) issued and outstanding immediately prior to the Effective Time. From and after the Effective Time, each outstanding certificate theretofore representingshares of Acquisition Common shall be, deemed for all purposes to evidence ownership of and to represent the number of of Interstate Common Stock or New Interstate Common Stock, as appropriate, into Stock shares shares of Acquisition Common Stock shall have been converted.
