Exchange Payment. (a) The Exchange shall be consummated on the Exchange Date. (b) On the Exchange Date (to be effective immediately prior to the close of business on the Exchange Date), (i) the Company shall deliver to the Exchanging Member the Stock Exchange Payment or Cash Exchange Payment, as applicable, with respect to any Exchanged Shares and (ii) the Exchanging Member shall transfer the Exchanged Shares to the Company, free and clear of all liens and encumbrances.
Appears in 4 contracts
Sources: Exchange Agreement (SRIVARU Holding LTD), Exchange Agreement (SRIVARU Holding LTD), Exchange Agreement (SRIVARU Holding LTD)
Exchange Payment. (a) The Exchange shall be consummated on the Exchange Date.
(b) On the Exchange Date (to be effective immediately prior to the close of business on the Exchange Date), (i) the Company Corporation shall deliver to the Exchanging Member the Stock Exchange Payment or Cash Exchange Payment, as applicable, with respect to any Exchanged Shares and (ii) the Exchanging Member shall transfer the Exchanged Shares to the CompanyCorporation, free and clear of all liens and encumbrances.
Appears in 4 contracts
Sources: Exchange Agreement (Aeries Technology, Inc.), Exchange Agreement (Aeries Technology, Inc.), Business Combination Agreement (Worldwide Webb Acquisition Corp.)