Common use of RIGHTS WITH RESPECT TO DISSENTING SHARES Clause in Contracts

RIGHTS WITH RESPECT TO DISSENTING SHARES. (a) Notwithstanding anything in this Agreement to the contrary and unless otherwise provided by applicable law, shares of Company Common Stock that are issued and outstanding immediately prior to the Effective Time and that are owned by stockholders who have properly exercised and perfected their rights of appraisal within the meaning of Section 262 of the DGCL (the "Dissenting Shares"), shall not be converted into the right to receive the Per Share Price, unless and until such stockholders shall have failed to perfect or shall have effectively withdrawn or lost their right of appraisal and payment under applicable law. If any such stockholder shall have failed to perfect or shall have effectively withdrawn or lost such right of appraisal, each share of Company Common Stock held by such stockholder shall thereupon be deemed to have been converted into the right to receive and become exchangeable for the Per Share Price, at the Effective Time, pursuant to Section 1.05(a) hereof.

Appears in 5 contracts

Samples: Agreement and Plan of Merger (Saratoga Beverage Group Inc), Agreement and Plan of Merger (Fresh Juice Co Inc), Agreement and Plan of Merger (Saratoga Beverage Group Inc)

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RIGHTS WITH RESPECT TO DISSENTING SHARES. (a) 1. Notwithstanding anything in this Agreement to the contrary and unless otherwise provided by applicable law, shares of Company Common Stock that are issued and outstanding immediately prior to the Effective Time and that are owned by stockholders who have properly exercised and perfected their rights of appraisal within the meaning of Section 262 of the DGCL (the Exhibit 25 6 "Dissenting Shares"), shall not be converted into the right to receive the Per Share Price, unless and until such stockholders shall have failed to perfect or shall have effectively withdrawn or lost their right of appraisal and payment under applicable law. If any such stockholder shall have failed to perfect or shall have effectively withdrawn or lost such right of appraisal, each share of Company Common Stock held by such stockholder shall thereupon be deemed to have been converted into the right to receive and become exchangeable for the Per Share Price, at the Effective Time, pursuant to Section 1.05(a) hereof.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Saratoga Beverage Group Inc)

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