No Fractional Shares and Certificate as to Adjustments. (i) No fractional shares shall be issued upon the conversion of any Preferred Share after aggregating all Preferred Shares owned by the holder thereof and, in lieu of any fractional shares to which such holder would otherwise be entitled, the LLC shall pay cash equal to such fraction multiplied by the then effective fair market value of such share, as determined by the Board.
Appears in 3 contracts
Samples: Operating Agreement (Arvinas Holding Company, LLC), Operating Agreement (Arvinas Holding Company, LLC), Operating Agreement (Arvinas Holding Company, LLC)
No Fractional Shares and Certificate as to Adjustments. (i) No fractional shares shall be issued upon the conversion of any share of Series B Preferred Share after aggregating all Preferred Shares owned by the holder thereof and, in Stock. In lieu of any fractional shares to which such the holder would otherwise be entitled, the LLC Company shall pay cash equal round the number of fractional shares up to such fraction multiplied by the then effective fair market value nearest number of such share, as determined by the Boardwhole shares.
Appears in 1 contract
Samples: Preferred Stock Purchase Agreement (Echo Metrix, Inc.)
