No Allocation. In the event that neither Section 2.2(e) nor ------------- Section 2.2(f) is applicable, all BEC Cash Election Shares shall be converted into the right to receive the BEC Cash Consideration, all BEC Stock Election Shares shall be converted into the right to receive the BEC Stock Consideration (and cash in lieu of fractional interests in accordance with Section 2.3(d)) and BEC Non-Election Shares shall be converted into the right to receive the BEC Cash Consideration or the BEC Stock Consideration (and cash in lieu of fractional interests in accordance with Section 2.3(d)) as BEC, with the prior consent of CES, shall determine.
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Sources: Merger Agreement (B E C Energy)
No Allocation. In the event that neither Section 2.2(e) nor ------------- Section 2.2(f) is applicable, all BEC Cash Election Shares shall be converted into the right to receive the BEC Cash Consideration, all BEC Stock Election Shares shall be converted into the right to receive the BEC Stock Consideration (and cash in lieu of fractional interests in accordance with Section 2.3(d)) and BEC Non-Election Shares shall be converted into the right to receive the BEC Cash Consideration or the BEC Stock Consideration (and cash in lieu of fractional interests in accordance with Section 2.3(d)) as BEC, with the prior consent of CES, shall determine.
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