Common use of Fractional Stock Clause in Contracts

Fractional Stock. No fractional shares of Common Stock shall be issued in the Merger. If the product of the number of shares a IneedMD shareholder holds immediately prior to the Closing would result in the issuance of a fractional share of Merger Sub’s Common Stock, that product will be rounded down to the nearest whole number of shares of Merger Sub’s Common Stock if it is equal to or less than the fraction of one-half (.5) of one share or round up to the nearest whole number of shares of Merger Sub’s Common Stock if it is greater than the fraction of one-half (.5) of one share of Merger Sub’s Common Stock.

Appears in 1 contract

Sources: Acquisition Agreement (Clutterbug Move Management, Inc.)

Fractional Stock. No fractional shares of Common Stock shall be issued in the Merger. If the product of the number of shares a IneedMD shareholder Majority Shareholder holds immediately prior to the Closing would result in the issuance of a fractional share of Merger Sub’s Common Stock, that product will be rounded down to the nearest whole number of shares of Merger Sub’s Common Stock if it is equal to or less than the fraction of one-half (.5) of one share or round up to the nearest whole number of shares of Merger Sub’s Common Stock if it is greater than the fraction of one-half (.5) of one share of Merger Sub’s Common Stock.

Appears in 1 contract

Sources: Acquisition Agreement (Tca Global Credit Master Fund Lp.)

Fractional Stock. No fractional shares of Common Stock shall be issued in the Merger. If the product of the number of shares a IneedMD Sports Field shareholder holds immediately prior to the Closing would result in the issuance of a fractional share of Merger Sub’s Common Stock, that product will be rounded down to the nearest whole number of shares of Merger Sub’s Common Stock if it is equal to or less than the fraction of one-half (.5) of one share or round up to the nearest whole number of shares of Merger Sub’s Common Stock if it is greater than the fraction of one-half (.5) of one share of Merger Sub’s Common Stock.

Appears in 1 contract

Sources: Acquisition Agreement (Anglesea Enterprises, Inc.)