Reorganization in Which the Company. Is Not the Surviving Entity or Sale of Assets or Shares. Upon the dissolution or liquidation of the Company, or upon a merger, consolidation or reorganization of the Company with one or more other entities in which the Company is not the surviving entity, or upon a sale of substantially all of the assets of the Company to another entity, or upon any transaction (including, without limitation, a merger or reorganization in which the Company is the surviving entity) approved by the Board which results in any person or entity (or persons or entities acting as a group or otherwise in concert) owning 80 percent or more of the combined voting power of all classes of securities of the Company, the unvested Restricted Share Award shall become fully vested.
Appears in 5 contracts
Samples: Employee Share Option and Restricted Share Plan Restricted Share Agreement (Colonial Properties Trust), Employee Share Option and Restricted Share Plan Restricted Share Agreement (Colonial Properties Trust), Employee Share Option and Restricted Share Plan Restricted Share Agreement (Colonial Properties Trust)
