Common use of Mixed Election Clause in Contracts

Mixed Election. Subject to the immediately following sentence, each record holder of shares of Conectiv Stock immediately prior to the Effective Time shall be entitled to elect to receive shares of HoldCo Common Stock for part of such holder's shares of Conectiv Stock and cash for the remaining part of such holder's shares of Conectiv Stock (the "Mixed Election" and, collectively with Stock Election and Cash Election, the "Election"). With respect to each holder of Conectiv Stock who makes a Mixed Election, the shares of Conectiv Stock such holder elects to be converted into the right to receive Conectiv Share Consideration shall be treated as Stock Election Shares for purposes of the provisions contained in Sections 1.8(c) and (d) and the shares such holder elects to be converted into the right to receive Conectiv Cash Consideration shall be treated as Cash Election Shares for purposes of the provisions contained in Sections 1.8(e) and (f).

Mixed Election. Subject to the immediately following sentence, each record holder of shares of Conectiv FNB Common Stock immediately prior to the Effective Time Date shall be entitled to elect to receive shares of HoldCo Tower Common Stock for part a portion of such holder's shares of Conectiv FNB Common Stock and cash for the remaining part portion of such holder's shares of Conectiv FNB Common Stock (the "Mixed Election" and, collectively with Stock Election and Cash Election, the "Election"). With respect to each holder of Conectiv FNB Common Stock who makes a Mixed ElectionElection and subject to the allocation rules set forth in Section 2.02(e) below, the shares of Conectiv FNB Common Stock that such holder elects to be converted into the right to receive Conectiv Share the Common Stock Consideration shall be treated as Common Stock Election Shares for purposes of the provisions contained in Sections 1.8(c) and (d) and the shares such holder elects to be converted into the right to receive Conectiv the Cash Consideration shall be treated as Cash Election Shares for purposes of the provisions contained in Sections 1.8(e) and (f)Shares.