{"component": "clause", "props": {"groups": [{"snippet": "(a) At or prior to the Closing, Parent shall appoint a United States bank or trust company or other independent financial institution in the United States (the \u201c Paying Agent\u201d) that is reasonably acceptable to the Company to act, among other things, as paying agent for the Merger and to deliver the Merger Consideration to former stockholders of the Company. The Company and Parent shall enter into a Paying Agent agreement with the Paying Agent, which agreement shall set forth the duties, responsibilities and obligations of the Paying Agent consistent with the terms of this Agreement. At or prior to the Effective Time, Parent shall deposit (or cause to be deposited) with the Paying Agent, for the account and benefit of the former holders of Company Common Stock, an amount of cash sufficient to pay the Merger Consideration payable pursuant to this Article III (such cash shall be referred to in this Agreement as the \u201cConsideration Fund\u201d). In the event the Consideration Fund shall be insufficient to pay the Merger Consideration (including with respect to Company Common Stock held by stockholders who did not vote in favor of the Merger but who did not exercise, or who shall have effectively withdrawn or lost, their rights to appraisal of such Company Common Stock under the DGCL), Parent shall promptly deliver, or cause to be delivered, additional funds to the Paying Agent in an amount that is equal to the deficiency required to make such payments.\n(b) Promptly after the Effective Time (and in any event within five (5) Business Days after the Effective Time), Parent shall cause the Paying Agent to mail to each stockholder whose shares were converted into the right to receive Merger Consideration pursuant to Section 3.1: (i) a letter of transmittal, in customary form, that shall specify that delivery of such Certificates or transfer of such Book Entry Shares shall be deemed to have occurred, and risk of loss and title to the Certificates or Book Entry Shares, as applicable, shall pass, only upon proper delivery of the Certificates (or affidavits of loss in lieu thereof) or transfer of the Book Entry Shares to the Paying Agent and (ii) instructions for use in effecting the surrender of the Certificates or transfer of the Book Entry Shares in exchange for payment of the Merger Consideration, the form and substance of which letter of transmittal and instructions shall be as reasonably agreed to by the Company and Parent and prepared prior to the Closing. Upon receipt of an \u201cagent\u2019s message\u201d by the Paying Agent in connection with the transfer of a Book Entry Share or surrender of a Certificate for cancellation to the Paying Agent, in each case together with such letter of transmittal, duly executed and completed in accordance with the instructions thereto, and with such other documents as may be required pursuant to such instructions, the holder of such Book Entry Share or Certificate shall be entitled to receive in exchange therefor, subject to any required withholding of Taxes, the Merger Consideration pursuant to the provisions of this Article III, and the Book Entry Share so transferred or Certificate so surrendered shall forthwith be cancelled. No interest will be paid to holders of Book Entry Shares or Certificates in connection with, or accrued on, the Merger Consideration. If any Merger Consideration is to be paid to a Person other than the stockholder in whose name the Book Entry Share transferred or Certificate surrendered in exchange therefor is registered, it shall be a condition of such exchange that the Person requesting such exchange shall pay to the Paying Agent any transfer or other Taxes required by reason of payment of the Merger Consideration to a Person other than the stockholder owning the Book Entry Share transferred or Certificate surrendered, or shall establish to the reasonable satisfaction of the Paying Agent that such Tax has been paid or is not applicable.\n(c) The cash in the Consideration Fund shall be invested by the Paying Agent as directed by Parent; provided, however, that any such investments shall be in short-term obligations of the United States with maturities of no more than thirty (30) days or guaranteed by the United States and backed by the full faith and credit of the United States. Earnings on the Consideration Fund in excess of the amounts payable to the Company\u2019s former stockholders shall be the sole and exclusive property of Parent and shall be paid as Parent directs. No investment of the Consideration Fund shall relieve Parent, the Surviving Corporation or the Paying Agent from promptly making the payments required by this Article III, and following any losses from any such investment, Parent shall promptly provide additional cash funds to the Paying Agent for the benefit of the Company\u2019s stockholders at the Effective Time in the amount of such losses to the extent the funds in the Consideration Fund are insufficient for such purposes, which additional funds will be deemed to be part of the Consideration Fund.\n(d) At and after the Effective Time, there shall be no transfers on the share transfer books of the Company of the shares of Company Common Stock that were outstanding immediately prior to the Effective Time. If, after the Effective Time, Certificates or Book Entry Shares are presented to the Surviving Corporation or the Paying Agent for any reason, they shall be cancelled and exchanged for the Merger Consideration pursuant to this Article III, except as otherwise provided by Law.\n(e) Any portion of the Consideration Fund (including the proceeds of any investments thereof) that remains unclaimed by the former Company stockholders one (1) year after the Effective Time shall, to the extent permitted by applicable Law, be delivered to Parent or the Surviving Corporation for no consideration. Any Company stockholder owning Certificates or Book Entry Shares who has not theretofore complied with this Article III with respect to such Certificates or Book Entry Shares shall thereafter look only to Parent for payment of their claim for Merger Consideration in respect thereof.\n(f) Notwithstanding the foregoing, neither the Paying Agent nor any party hereto shall be liable to any Person in respect of cash from the Consideration Fund delivered to a public official pursuant to any applicable abandoned property, escheat or similar Law. If any Certificate or Book Entry Share shall not have been surrendered or transferred, respectively, prior to the date on which any Merger Consideration in respect thereof would otherwise escheat to or become the property of any Governmental Entity pursuant to applicable Law, any such Merger Consideration in respect of such Certificate or Book Entry Shares shall, to the extent permitted by applicable Law, become the property of Parent or the Surviving Corporation, and any stockholder of such Certificate or Book Entry Share who has not theretofore complied with this Article III with respect thereto shall thereafter look only to Parent for payment of their claim for Merger Consideration in respect thereof.\n(g) If any Certificate shall have been lost, stolen or destroyed, upon the making of an affidavit of that fact (which affidavit shall be in a form reasonably satisfactory to Parent and the Paying Agent) by the Person claiming such certificate to be lost, stolen or destroyed, the Paying Agent shall issue in exchange for such lost, stolen or destroyed Certificate the Merger Consideration to which such Person is entitled in respect of such Certificate pursuant to this Article III.", "size": 270, "samples": [{"hash": "apIgmMuPrIH", "uri": "/contracts/apIgmMuPrIH#surrender-and-payment", "label": "Agreement and Plan of Merger (Skyworks Solutions, Inc.)", "score": 26.8261470795, "published": true}, {"hash": "lKJV4yBZYiX", "uri": "/contracts/lKJV4yBZYiX#surrender-and-payment", "label": "Merger Agreement (PMC Sierra Inc)", "score": 26.7604389191, "published": true}, {"hash": "2h4ryO1aMzA", "uri": "/contracts/2h4ryO1aMzA#surrender-and-payment", "label": "Merger Agreement (Skyworks Solutions, Inc.)", "score": 26.7604389191, "published": true}], "snippet_links": [{"key": "prior-to-the-closing", "type": "clause", "offset": [10, 30]}, {"key": "bank-or-trust-company", "type": "definition", "offset": [69, 90]}, {"key": "independent-financial-institution", "type": "definition", "offset": [100, 133]}, {"key": "in-the-united-states", "type": "clause", "offset": [134, 154]}, {"key": "to-the-company", "type": "definition", "offset": [207, 221]}, {"key": "to-act", "type": "definition", "offset": [222, 228]}, {"key": "stockholders-of-the-company", "type": "clause", "offset": [331, 358]}, {"key": "paying-agent-agreement", "type": "definition", "offset": [402, 424]}, {"key": "the-paying-agent", "type": "definition", "offset": [430, 446]}, {"key": "responsibilities-and-obligations", "type": "clause", "offset": [492, 524]}, {"key": "terms-of-this-agreement", "type": "clause", "offset": [565, 588]}, {"key": "prior-to-the-effective-time", "type": "clause", "offset": [596, 623]}, {"key": "to-be-deposited", "type": "definition", "offset": [656, 671]}, {"key": "the-account", "type": "clause", "offset": [700, 711]}, {"key": "former-holders", "type": "definition", "offset": [731, 745]}, {"key": "company-common-stock", "type": "definition", "offset": [749, 769]}, {"key": "to-pay", "type": "clause", "offset": [800, 806]}, {"key": "consideration-payable", "type": "clause", "offset": [818, 839]}, {"key": "article-iii", "type": "definition", "offset": [857, 868]}, {"key": "in-this-agreement", "type": "definition", "offset": [901, 918]}, {"key": "consideration-fund", "type": "definition", "offset": [927, 945]}, {"key": "the-consideration", "type": "clause", "offset": [962, 979]}, {"key": "with-respect-to-company", "type": "clause", "offset": [1050, 1073]}, {"key": "by-stockholders", "type": "clause", "offset": [1092, 1107]}, {"key": "vote-in-favor-of-the-merger", "type": "clause", "offset": [1120, 1147]}, {"key": "additional-funds", "type": "clause", "offset": [1352, 1368]}, {"key": "equal-to", "type": "definition", "offset": [1410, 1418]}, {"key": "promptly-after-the-effective-time", "type": "clause", "offset": [1470, 1503]}, {"key": "days-after", "type": "definition", "offset": [1547, 1557]}, {"key": "mail-to", "type": "definition", "offset": 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"type": "clause", "offset": [2427, 2441]}, {"key": "upon-receipt-of-an", "type": "clause", "offset": [2488, 2506]}, {"key": "in-connection-with", "type": "clause", "offset": [2545, 2563]}, {"key": "transfer-of-a", "type": "clause", "offset": [2568, 2581]}, {"key": "each-case", "type": "definition", "offset": [2670, 2679]}, {"key": "duly-executed", "type": "clause", "offset": [2722, 2735]}, {"key": "in-accordance-with", "type": "clause", "offset": [2750, 2768]}, {"key": "other-documents", "type": "clause", "offset": [2809, 2824]}, {"key": "pursuant-to-such", "type": "clause", "offset": [2844, 2860]}, {"key": "the-holder", "type": "clause", "offset": [2875, 2885]}, {"key": "subject-to", "type": "clause", "offset": [2977, 2987]}, {"key": "withholding-of-taxes", "type": "definition", "offset": [3001, 3021]}, {"key": "provisions-of-this-article", "type": "clause", "offset": [3064, 3090]}, {"key": "no-interest", "type": "clause", "offset": [3196, 3207]}, {"key": "to-holders", "type": "clause", "offset": [3221, 3231]}, {"key": "a-person", "type": "definition", "offset": [3375, 3383]}, {"key": "the-stockholder", "type": "clause", "offset": [3395, 3410]}, {"key": "condition-of", "type": "clause", "offset": [3535, 3547]}, {"key": "pay-to", "type": "definition", "offset": [3609, 3615]}, {"key": "other-taxes", "type": "clause", "offset": [3649, 3660]}, {"key": "required-by", "type": "definition", "offset": [3661, 3672]}, {"key": "reason-of-payment", "type": "definition", "offset": [3673, 3690]}, {"key": "satisfaction-of", "type": "clause", "offset": [3863, 3878]}, {"key": "not-applicable", "type": "definition", "offset": [3930, 3944]}, {"key": "as-directed", "type": "definition", "offset": [4023, 4034]}, {"key": "by-parent", "type": "clause", "offset": [4035, 4044]}, {"key": "in-short", "type": "clause", "offset": [4100, 4108]}, {"key": "obligations-of-the-united-states", "type": "clause", "offset": [4114, 4146]}, {"key": "guaranteed-by", "type": "clause", "offset": [4199, 4212]}, {"key": "full-faith-and-credit", "type": "clause", "offset": [4249, 4270]}, {"key": "payable-to", "type": "definition", "offset": [4353, 4363]}, {"key": "sole-and-exclusive-property", "type": "clause", "offset": [4411, 4438]}, {"key": "investment-of", "type": "clause", "offset": [4489, 4502]}, {"key": "the-surviving-corporation", "type": "clause", "offset": [4548, 4573]}, {"key": "agent-from", "type": "definition", "offset": [4588, 4598]}, {"key": "payments-required", "type": "definition", "offset": [4619, 4636]}, {"key": "promptly-provide", "type": "clause", "offset": [4722, 4738]}, {"key": "cash-funds", "type": "definition", "offset": [4750, 4760]}, {"key": "for-the-benefit-of", "type": "definition", "offset": [4781, 4799]}, {"key": "at-the-effective-time", "type": "clause", "offset": [4827, 4848]}, {"key": "to-the-extent", "type": "clause", "offset": [4878, 4891]}, {"key": "funds-in", "type": "definition", "offset": [4896, 4904]}, {"key": "no-transfers", "type": "clause", "offset": [5092, 5104]}, {"key": "books-of-the-company", "type": "clause", "offset": [5127, 5147]}, {"key": "shares-of-company", "type": "clause", "offset": [5155, 5172]}, {"key": "presented-to", "type": "definition", "offset": [5317, 5329]}, {"key": "for-any-reason", "type": "clause", "offset": [5376, 5390]}, {"key": "provided-by-law", "type": "definition", "offset": [5509, 5524]}, {"key": "former-company-stockholders", "type": "definition", "offset": [5650, 5677]}, {"key": "applicable-law", "type": "definition", "offset": [5750, 5764]}, {"key": "to-parent", "type": "definition", "offset": [5779, 5788]}, {"key": "no-consideration", "type": "clause", "offset": [5822, 5838]}, {"key": "notwithstanding-the-foregoing", "type": "clause", "offset": [6128, 6157]}, {"key": "party-hereto", "type": "definition", "offset": [6192, 6204]}, {"key": "any-person", "type": "definition", "offset": [6224, 6234]}, {"key": "in-respect-of", "type": "definition", "offset": [6235, 6248]}, {"key": "public-official", "type": "clause", "offset": [6297, 6312]}, {"key": "abandoned-property", "type": "clause", "offset": [6340, 6358]}, {"key": "similar-law", "type": "clause", "offset": [6371, 6382]}, {"key": "the-property", "type": "clause", "offset": [6593, 6605]}, {"key": "governmental-entity", "type": "definition", "offset": [6613, 6632]}, {"key": "pursuant-to-applicable", "type": "clause", "offset": [6633, 6655]}, {"key": "affidavit-of", "type": "clause", "offset": [7186, 7198]}, {"key": "agent-shall", "type": "definition", "offset": [7385, 7396]}], "hash": "dcd1e1512c39e867984809502dd4d199", "id": 1}, {"snippet": "(a) Prior to the Effective Time, Parent shall appoint an agent reasonably acceptable to the Company (the \u201cExchange Agent\u201d) for the purpose of exchanging for the Merger Consideration (i) certificates representing Shares (the \u201cCertificates\u201d) or (ii) uncertificated Shares (the \u201cUncertificated Shares\u201d). Merger Subsidiary or one of its Affiliates shall deposit with the Exchange Agent, as needed from time to time, the Merger Consideration to be paid in respect of the Certificates and the Uncertificated Shares. Promptly after the Effective Time, Parent shall send, or shall cause the Exchange Agent to send, to each holder of Shares at the Effective Time a letter of transmittal and instructions for use in such exchange (which shall specify that the delivery shall be effected, and risk of loss and title shall pass, only upon proper delivery of the Certificates or transfer of the Uncertificated Shares to the Exchange Agent).\n(b) Each holder of Shares that have been converted into the right to receive the Merger Consideration shall be entitled to receive, upon (i) surrender to the Exchange Agent of a Certificate, together with a properly completed letter of transmittal, or (ii) receipt of an \u201cagent\u2019s message\u201d by the Exchange Agent (or such other evidence, if any, of transfer as the Exchange Agent may reasonably request) in the case of a book-entry transfer of Uncertificated Shares, the Merger Consideration payable for each Share represented by a Certificate or for each Uncertificated Share. Until so surrendered or transferred, as the case may be, each such Certificate or Uncertificated Share shall represent after the Effective Time for all purposes only the right to receive the Merger Consideration.\n(c) If any portion of the Merger Consideration is to be paid to a Person other than the Person in whose name the surrendered Certificate or Uncertificated Share is registered, it shall be a condition to such payment that (i) either such Certificate shall be properly endorsed or shall otherwise be in proper form for transfer or such Uncertificated Share shall be properly transferred and (ii) the Person requesting such payment shall pay to the Exchange Agent any transfer or other Taxes required as a result of such payment to a Person other than the registered holder of such Certificate or Uncertificated Share or establish to the satisfaction of the Exchange Agent that such Tax has been paid or is not payable.\n(d) After the Effective Time, there shall be no further registration of transfers of Shares. If, after the Effective Time, Certificates or Uncertificated Shares are presented to the Surviving Corporation, they shall be canceled and exchanged for the Merger Consideration provided for, and in accordance with the procedures set forth, in this Article 2.\n(e) Any portion of the Merger Consideration made available to the Exchange Agent pursuant to Section 2.03(a) (and any interest or other income earned thereon) that remains unclaimed by the holders of Shares six months after the Effective Time shall be returned to the Surviving Corporation or one of its Affiliates upon demand, and any such holder who has not exchanged such Shares for the Merger Consideration in accordance with this Section 2.03 prior to that time shall thereafter look only to the Surviving Corporation for payment of the Merger Consideration in respect of such Shares without any interest thereon. Notwithstanding the foregoing, neither the Surviving Corporation nor any of its Affiliates shall be liable to any holder of Shares for any amount paid to a public official pursuant to applicable abandoned property, escheat or similar laws.\n(f) Any portion of the Merger Consideration made available to the Exchange Agent pursuant to Section 2.03(a) to pay for Shares for which appraisal rights have been perfected shall be returned to the Surviving Corporation or one of its Affiliates, upon demand.", "size": 232, "samples": [{"hash": "6uThaPucZT9", "uri": "/contracts/6uThaPucZT9#surrender-and-payment", "label": "Merger Agreement (RP Management, LLC)", "score": 21.9746742249, "published": true}, {"hash": "cyHWHEv0vHi", "uri": "/contracts/cyHWHEv0vHi#surrender-and-payment", "label": "Merger Agreement (Ramius Value & Opportunity LLC)", "score": 21.9664611816, "published": true}, {"hash": "7AnYQjlMuEW", "uri": "/contracts/7AnYQjlMuEW#surrender-and-payment", "label": "Merger Agreement (Cypress 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"satisfaction-of", "type": "clause", "offset": [2352, 2367]}, {"key": "not-payable", "type": "definition", "offset": [2421, 2432]}, {"key": "transfers-of-shares", "type": "clause", "offset": [2506, 2525]}, {"key": "presented-to", "type": "definition", "offset": [2599, 2611]}, {"key": "the-surviving-corporation", "type": "clause", "offset": [2612, 2637]}, {"key": "in-accordance-with", "type": "clause", "offset": [2723, 2741]}, {"key": "the-procedures", "type": "definition", "offset": [2742, 2756]}, {"key": "article-2", "type": "clause", "offset": [2776, 2785]}, {"key": "available-to", "type": "definition", "offset": [2836, 2848]}, {"key": "pursuant-to-section", "type": "clause", "offset": [2868, 2887]}, {"key": "other-income", "type": "definition", "offset": [2917, 2929]}, {"key": "holders-of-shares", "type": "clause", "offset": [2976, 2993]}, {"key": "six-months", "type": "definition", "offset": [2994, 3004]}, {"key": "upon-demand", "type": "clause", "offset": [3102, 3113]}, {"key": "payment-of-the-merger-consideration", "type": "clause", "offset": [3314, 3349]}, {"key": "notwithstanding-the-foregoing", "type": "clause", "offset": [3406, 3435]}, {"key": "to-any-holder", "type": "definition", "offset": [3513, 3526]}, {"key": "amount-paid", "type": "definition", "offset": [3545, 3556]}, {"key": "public-official", "type": "clause", "offset": [3562, 3577]}, {"key": "pursuant-to-applicable", "type": "clause", "offset": [3578, 3600]}, {"key": "abandoned-property", "type": "clause", "offset": [3601, 3619]}, {"key": "similar-laws", "type": "definition", "offset": [3632, 3644]}, {"key": "pay-for", "type": "definition", "offset": [3758, 3765]}, {"key": "appraisal-rights", "type": "clause", "offset": [3783, 3799]}], "hash": "2019a0f239480726a332f282e71cbf5f", "id": 2}, {"snippet": "(a) Clearwire has appointed the Exchange Agent for the purpose of exchanging the Merger Consideration for:\n(i) certificates representing shares of Clearwire Capital Stock (the \u201cCertificates\u201d) or\n(ii) uncertificated shares of Clearwire Capital Stock (the \u201cUncertificated Shares\u201d). Promptly after the Closing Date, NewCo will send, or will cause the Exchange Agent to send, to each holder of shares of Clearwire Capital Stock at the Effective Time a letter of transmittal and instructions that will specify that the delivery will be effected, and risk of loss and title will pass, only on proper delivery of the Certificates or transfer of the Uncertificated Shares to the Exchange Agent.\n(b) Each holder of shares of Clearwire Capital Stock will be entitled to receive, on\n(i) surrender to the Exchange Agent of a Certificate, together with a properly completed letter of transmittal, or\n(ii) receipt of an \u201cagent\u2019s message\u201d by the Exchange Agent (or other evidence, if any, of transfer as the Exchange Agent may reasonably request) in the case of a book-entry transfer of Uncertificated Shares, the aggregate Merger Consideration that the holder has a right to receive under Section 2.5. The shares of Class A Common Stock constituting the Merger Consideration will be in uncertificated book-entry form, unless a physical certificate is requested by the holder or is otherwise required under applicable Law. As a result of the Merger, at the Effective Time, all shares of Clearwire Capital Stock will cease to be outstanding and each holder of Clearwire Capital Stock will cease to have any rights with respect to the Clearwire Capital Stock, except the right to receive the Merger Consideration payable in respect of the Clearwire Capital Stock.\n(c) If any portion of the Merger Consideration is to be paid to a Person other than the Person in whose name the surrendered Certificate or the transferred Uncertificated Share is registered, it will be a condition to the payment that\n(i) either the surrendered Certificate will be properly endorsed or will otherwise be in proper form for transfer or the applicable Uncertificated Share will be properly transferred, and\n(ii) the Person requesting the payment will pay to the Exchange Agent any transfer or other Taxes required as a result of the payment to a Person other than the registered holder of the Certificate or Uncertificated Share or establish to the satisfaction of the Exchange Agent that the Tax has been paid or is not payable.\n(d) After the Effective Time, there will be no further registration of transfers of shares of Clearwire Capital Stock. If, after the Effective Time, Certificates or Uncertificated Shares are presented to NewCo, they will be canceled and exchanged for the Merger Consideration payable in respect of the Clearwire Capital Stock provided for, and in accordance with the procedures set forth, in this Article 2.\n(e) Any portion of the Merger Consideration made available to the Exchange Agent under Section 2.6(a) that remains unclaimed by the holders of shares of Clearwire Capital Stock twelve months after the Closing Date will be returned to NewCo, on demand. Any holder who has not exchanged shares of Clearwire Capital Stock for the Merger Consideration in accordance with this Section 2.6 before that date will look only to NewCo for payment of the Merger Consideration, and any dividends and distributions with respect to the Merger Consideration, in respect of those shares without any interest thereon. Regardless of the preceding sentence, NewCo will not be liable to any holder of shares of Clearwire Capital Stock for any amounts properly paid to a public official under applicable abandoned property, escheat or similar Laws. Any amounts remaining unclaimed by holders of shares of Clearwire Capital Stock six years after the Closing Date (or that earlier date, immediately before the time when the amounts would otherwise escheat to or become property of any Governmental Authority) will become, to the extent permitted by applicable Law, the property of NewCo, free and clear of any claims or interest of any Person previously entitled thereto.", "size": 136, "samples": [{"hash": "8CGPS0xRoJ", "uri": "/contracts/8CGPS0xRoJ#surrender-and-payment", "label": "Transaction Agreement and Plan of Merger", "score": 29.3408622742, "published": true}, {"hash": "ezl8sUWg6up", "uri": "/contracts/ezl8sUWg6up#surrender-and-payment", "label": "Transaction Agreement and Plan of Merger (Sprint Nextel Corp)", "score": 21.0, "published": true}, {"hash": "e9Wo3LId1vW", "uri": "/contracts/e9Wo3LId1vW#surrender-and-payment", "label": "Transaction Agreement and Plan of Merger (Clearwire Corp)", "score": 21.0, "published": true}], "snippet_links": [{"key": "the-exchange-agent", "type": "clause", "offset": [28, 46]}, {"key": "for-the-purpose-of", "type": "definition", "offset": [47, 65]}, {"key": "certificates-representing-shares", "type": "clause", "offset": [111, 143]}, {"key": "capital-stock", "type": "definition", "offset": [157, 170]}, {"key": "uncertificated-shares", "type": "definition", "offset": [200, 221]}, {"key": "after-the-closing-date", "type": "clause", "offset": [289, 311]}, {"key": "at-the-effective-time", "type": "clause", "offset": [424, 445]}, {"key": "letter-of-transmittal", "type": "definition", "offset": [448, 469]}, {"key": "the-delivery", "type": "clause", "offset": [510, 522]}, {"key": "risk-of-loss-and-title", "type": "clause", "offset": [545, 567]}, {"key": "the-certificates", "type": "definition", "offset": [606, 622]}, {"key": "transfer-of-the", "type": "clause", "offset": [626, 641]}, {"key": "properly-completed", "type": "definition", "offset": [842, 860]}, {"key": "receipt-of", 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"9da45734c2fb2cfd38ac085022614ad6", "id": 3}, {"snippet": "(a) As soon as reasonably practicable after execution of this Agreement, Vertical shall appoint an agent (the \u201cExchange Agent\u201d) for the purpose of exchanging the Cash Price for certificates representing shares of Vodavi Stock (the \u201cCertificates\u201d). Vertical shall make available to the Exchange Agent, as needed, the Cash Price to be paid in respect of the Certificates. Promptly after the Effective Time, Vertical shall send, or shall cause the Exchange Agent to send, to each record holder of Vodavi Stock at the Effective Time a letter of transmittal and instructions (which shall specify that the delivery shall be effected, and risk of loss and title shall pass, only upon proper delivery of the Certificates to the Exchange Agent) for use in such exchange.\n(b) Each holder of shares of Vodavi Stock that have been converted into the right to receive the Cash Price shall be entitled to receive, upon surrender to the Exchange Agent of a Certificate, together with a properly completed letter of transmittal, the Cash Price in respect of the Vodavi Stock represented by a Certificate. Until so surrendered or transferred, as the case may be, each such Certificate shall represent after the Effective Time for all purposes only the right to receive such Cash Price.\n(c) If any portion of the Cash Price is to be paid to a Person other than the Person in whose name the surrendered Certificate is registered, it shall be a condition to such payment that (i) either such Certificate shall be properly endorsed or shall otherwise be in proper form for transfer and (ii) the Person requesting such payment shall pay to the Exchange Agent any transfer or other taxes required as a result of such payment to a Person other than the registered holder of such Certificate or establish to the satisfaction of the Exchange Agent that such taxes have been paid or are not payable.\n(d) After the Effective Time, there shall be no further registration of transfers of shares of Vodavi Stock. If, after the Effective Time, Certificates are presented to the Surviving Corporation or the Exchange Agent, they shall be canceled and exchanged for the Cash Price, in accordance with the procedures set forth in this Section 3.05.\n(e) Any portion of the Cash Price made available by Vertical to the Exchange Agent pursuant to Section 3.05(a) that remains unclaimed by the holders of shares of Vodavi Stock six months after the Effective Time shall be returned to Vertical upon demand, and any such holder who has not exchanged shares of Vodavi Stock for the Cash Price in accordance with this Section 3.05 prior to that time shall thereafter look only to Vertical for payment of the Cash Price, and any dividends and distributions with respect thereto, in respect of such shares without any interest thereon. Notwithstanding the foregoing, Vertical shall not be liable to any holder of shares of Vodavi Stock for any amounts paid to a public official pursuant to applicable abandoned property, escheat or similar laws. Any amounts remaining unclaimed by holders of shares of Vodavi Stock immediately prior to such time when the amounts would otherwise escheat to or become property of any Governmental Entity shall become, to the extent permitted by applicable law, the property of Vertical, free and clear of any claims or interest of any Person previously entitled thereto.\n(f) Any portion of the Cash Price made available to the Exchange Agent pursuant to Section 3.05(a) to pay for shares of Vodavi Stock for which appraisal rights have been perfected shall be returned to Vertical, upon demand.", "size": 133, "samples": [{"hash": "jrVcbjfobTu", "uri": "/contracts/jrVcbjfobTu#surrender-and-payment", "label": "Merger Agreement (Vodavi Technology Inc)", "score": 21.0, "published": true}, {"hash": "7c0ca0jsAf1", "uri": "/contracts/7c0ca0jsAf1#surrender-and-payment", "label": "Merger Agreement (Vertical Communications, Inc.)", "score": 21.0, "published": true}], "snippet_links": [{"key": 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"letter-of-transmittal", "type": "definition", "offset": [531, 552]}, {"key": "the-delivery", "type": "clause", "offset": [596, 608]}, {"key": "risk-of-loss-and-title", "type": "clause", "offset": [632, 654]}, {"key": "delivery-of-the", "type": "clause", "offset": [684, 699]}, {"key": "right-to-receive", "type": "clause", "offset": [838, 854]}, {"key": "properly-completed", "type": "definition", "offset": [971, 989]}, {"key": "represented-by", "type": "clause", "offset": [1059, 1073]}, {"key": "the-case", "type": "definition", "offset": [1129, 1137]}, {"key": "all-purposes", "type": "definition", "offset": [1213, 1225]}, {"key": "a-person", "type": "definition", "offset": [1323, 1331]}, {"key": "proper-form", "type": "definition", "offset": [1536, 1547]}, {"key": "for-transfer", "type": "definition", "offset": [1548, 1560]}, {"key": "pay-to", "type": "definition", "offset": [1611, 1617]}, {"key": "other-taxes", "type": "clause", "offset": [1653, 1664]}, {"key": "payment-to-a", "type": 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"type": "definition", "offset": [2500, 2516]}, {"key": "prior-to", "type": "definition", "offset": [2589, 2597]}, {"key": "payment-of-the", "type": "clause", "offset": [2651, 2665]}, {"key": "dividends-and-distributions", "type": "definition", "offset": [2686, 2713]}, {"key": "notwithstanding-the-foregoing", "type": "clause", "offset": [2792, 2821]}, {"key": "to-any-holder", "type": "definition", "offset": [2852, 2865]}, {"key": "public-official", "type": "clause", "offset": [2918, 2933]}, {"key": "pursuant-to-applicable", "type": "clause", "offset": [2934, 2956]}, {"key": "abandoned-property", "type": "clause", "offset": [2957, 2975]}, {"key": "similar-laws", "type": "definition", "offset": [2988, 3000]}, {"key": "amounts-remaining", "type": "clause", "offset": [3006, 3023]}, {"key": "by-holders", "type": "clause", "offset": [3034, 3044]}, {"key": "governmental-entity", "type": "definition", "offset": [3172, 3191]}, {"key": "to-the-extent", "type": "clause", "offset": [3206, 3219]}, {"key": "applicable-law", "type": "definition", "offset": [3233, 3247]}, {"key": "the-property", "type": "clause", "offset": [3249, 3261]}, {"key": "free-and-clear", "type": "clause", "offset": [3275, 3289]}, {"key": "any-person", "type": "definition", "offset": [3319, 3329]}, {"key": "pay-for", "type": "definition", "offset": [3461, 3468]}, {"key": "appraisal-rights", "type": "clause", "offset": [3502, 3518]}], "hash": "12ecda8e64df1eb3dd623ae5709b14d4", "id": 4}, {"snippet": "(a) At the Effective Time, all Shares outstanding immediately prior to the Effective Time shall automatically be cancelled and retired and shall cease to exist, and, subject to Section 2.9, either (i) each holder of a certificate formerly representing any Shares (each, a \u201cCertificate\u201d) shall cease to have any rights as a stockholder of the Target Company; or (ii) in the case of uncertificated shares, such holder shall cease to have any rights as a stockholder of the Target Company without any further action.\n(b) Holdings, or a transfer agent appointed by Holdings, shall act as the exchange agent in the Merger (the \u201cExchange Agent\u201d).\n(c) As promptly as practicable following the date hereof and in any event not later than five (5) Business Days thereafter, Holdings shall mail to each holder of Shares a letter of transmittal in form and substance reasonably satisfactory to the parties (a \u201cLetter of Transmittal\u201d) and instructions for use in effecting the surrender of Certificates in exchange for the applicable portion of Merger Consideration pursuant to Section 2.8(b). Holdings shall, no later than the later of (i) the Closing Date or (ii) five (5) Business Days after receipt of a Certificate, together with a Letter of Transmittal duly completed and validly executed in accordance with the instructions thereto, and any other customary documents that Holdings may reasonably require in connection therewith, deliver to the holder of such Certificate such holder\u2019s portion of the Merger Consideration as provided in Section 2.8(b) with respect to such Certificate so surrendered and the Certificate shall forthwith be cancelled. Until so surrendered, each outstanding Certificate that prior to the Effective Time represented Shares (other than Dissenting Shares) shall be deemed from and after the Effective Time, for all purposes, to evidence the right to receive the portion of the Merger Consideration as provided in Section 2.8(b). If after the Effective Time, any Certificate is presented to Holdings, it shall be cancelled and exchanged as provided in this Section 2.10.\n(d) Each Target Company Stockholder shall also be entitled to any amounts that may be payable in the future in respect of the Shares formerly represented by such Certificate as provided in this Agreement, at the respective time and subject to the contingencies specified herein and therein.\n(e) If any portion of the Merger Consideration is to be delivered to a Person other than the Person in whose name the surrendered Certificate is registered, it shall be a condition to such delivery that (i) such Certificate shall be properly endorsed or shall otherwise be in proper form for transfer, and (ii) the Person requesting such payment or delivery shall pay to Holdings any transfer or other Tax required as a result of such payment to a Person other than the registered holder of such Certificate or establish to the reasonable satisfaction of Holdings that such Tax has been paid or is not payable.\n(f) Any portion of the Merger Consideration that remains unclaimed by the Target Company Stockholders ninety (90) days after the Effective Time shall be returned to Holdings, upon demand, and any such Target Company Stockholder who has not exchanged Certificates for the Merger Consideration in accordance with this Section 2.10 prior to that time shall thereafter look only to Holdings for delivery of the Merger Consideration. Notwithstanding the foregoing, Holdings shall not be liable to any holder of Certificates for any amounts paid to a public official pursuant to applicable abandoned property, escheat or similar Laws. Any amounts remaining unclaimed by Target Company Stockholders two years after the Effective Time (or such earlier date, immediately prior to such time when the amounts would otherwise escheat to or become property of any Governmental Entity) shall become, to the extent permitted by applicable Law, the property of Holdings free and clear of any claims or interest of any Person previously entitled thereto.\n(g) Any portion of the Merger Consideration made available to the Exchange Agent in respect of any Dissenting Shares shall be returned to Holdings, upon demand.", "size": 117, "samples": [{"hash": "1oTW3VnovsK", "uri": "/contracts/1oTW3VnovsK#surrender-and-payment", "label": "Agreement and Plan of Merger (AIRO Group Holdings, Inc.)", "score": 36.1403160095, "published": true}, {"hash": "a3cuvQtJ296", "uri": "/contracts/a3cuvQtJ296#surrender-and-payment", "label": "Agreement and Plan of Merger (AIRO Group Holdings, Inc.)", "score": 36.1129379272, "published": true}, {"hash": 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"the-closing-date", "type": "clause", "offset": [1129, 1145]}, {"key": "receipt-of-a", "type": "clause", "offset": [1183, 1195]}, {"key": "validly-executed", "type": "clause", "offset": [1266, 1282]}, {"key": "in-accordance-with", "type": "clause", "offset": [1283, 1301]}, {"key": "customary-documents", "type": "definition", "offset": [1342, 1361]}, {"key": "in-connection", "type": "clause", "offset": [1399, 1412]}, {"key": "deliver-to", "type": "definition", "offset": [1424, 1434]}, {"key": "the-holder", "type": "clause", "offset": [1435, 1445]}, {"key": "with-respect-to", "type": "clause", "offset": [1546, 1561]}, {"key": "the-certificate", "type": "clause", "offset": [1598, 1613]}, {"key": "outstanding-certificate", "type": "clause", "offset": [1671, 1694]}, {"key": "dissenting-shares", "type": "clause", "offset": [1759, 1776]}, {"key": "from-and-after-the-effective-time", "type": "clause", "offset": [1794, 1827]}, {"key": "all-purposes", "type": "definition", "offset": [1833, 1845]}, {"key": "right-to-receive", "type": "clause", "offset": [1863, 1879]}, {"key": "presented-to", "type": "definition", "offset": [1999, 2011]}, {"key": "target-company-stockholder", "type": "definition", "offset": [2101, 2127]}, {"key": "the-future", "type": "clause", "offset": [2189, 2199]}, {"key": "in-respect-of", "type": "definition", "offset": [2200, 2213]}, {"key": "the-shares", "type": "clause", "offset": [2214, 2224]}, {"key": "represented-by", "type": "clause", "offset": [2234, 2248]}, {"key": "in-this-agreement", "type": "definition", "offset": [2278, 2295]}, {"key": "subject-to-the", "type": "definition", "offset": [2324, 2338]}, {"key": "a-person", "type": "definition", "offset": [2452, 2460]}, {"key": "proper-form", "type": "definition", "offset": [2659, 2670]}, {"key": "for-transfer", "type": "definition", "offset": [2671, 2683]}, {"key": "pay-to", "type": "definition", "offset": [2747, 2753]}, {"key": "other-tax", "type": "definition", "offset": [2779, 2788]}, {"key": "payment-to-a", "type": "clause", "offset": [2818, 2830]}, {"key": "registered-holder", "type": "clause", "offset": [2853, 2870]}, {"key": "satisfaction-of", "type": "clause", "offset": [2922, 2937]}, {"key": "not-payable", "type": "definition", "offset": [2981, 2992]}, {"key": "company-stockholders", "type": "clause", "offset": [3075, 3095]}, {"key": "upon-demand", "type": "clause", "offset": [3169, 3180]}, {"key": "certificates-for-the", "type": "clause", "offset": [3244, 3264]}, {"key": "delivery-of-the-merger-consideration", "type": "clause", "offset": [3385, 3421]}, {"key": "notwithstanding-the-foregoing", "type": "clause", "offset": [3423, 3452]}, {"key": "to-any-holder", "type": "definition", "offset": [3483, 3496]}, {"key": "public-official", "type": "clause", "offset": [3539, 3554]}, {"key": "pursuant-to-applicable", "type": "clause", "offset": [3555, 3577]}, {"key": "abandoned-property", "type": "clause", "offset": [3578, 3596]}, {"key": "similar-laws", "type": "definition", "offset": [3609, 3621]}, {"key": "amounts-remaining", "type": "clause", "offset": [3627, 3644]}, {"key": "two-years", "type": "clause", "offset": [3686, 3695]}, {"key": "governmental-entity", "type": "definition", "offset": [3845, 3864]}, {"key": "to-the-extent", "type": "clause", "offset": [3880, 3893]}, {"key": "applicable-law", "type": "definition", "offset": [3907, 3921]}, {"key": "the-property", "type": "clause", "offset": [3923, 3935]}, {"key": "free-and-clear", "type": "clause", "offset": [3948, 3962]}, {"key": "any-person", "type": "definition", "offset": [3992, 4002]}, {"key": "available-to", "type": "definition", "offset": [4081, 4093]}], "hash": "9077fe390cefd60a30d2b772716fb5ea", "id": 5}, {"snippet": "(a) Prior to the Effective Time, Parent shall appoint Computershare Trust Company, N.A. (or its successor) as the exchange agent (or such other nationally recognized exchange agent agreed to between the parties hereto) (the \u201cExchange Agent\u201d) for the purpose of exchanging for the Merger Consideration certificates representing shares of Company Common Stock (the \u201cCertificates\u201d); provided, however, that any references herein to \u201cCertificates\u201d are deemed to include references to book-entry account statements relating to the ownership of shares of Company Common Stock. Prior to the Effective Time, Parent shall enter into an exchange agent agreement, in form and substance reasonably acceptable to the Company, with such Exchange Agent for the payment of the Merger Consideration in accordance with this Agreement. Immediately following the Effective Time, (x) Parent shall deposit, or shall cause to be deposited, with the Exchange Agent, for the benefit of the holders of shares of Company Common Stock issued and outstanding immediately prior to the Effective Time, cash in an amount sufficient to pay the aggregate per share Merger Consideration (less the amount of cash directed by Parent to be deposited by the Company pursuant to clause (y)) and (y) at the written request of Parent at least three (3) Business Days prior to the Closing, the Company shall deposit, or shall cause to be deposited, with the Exchange Agent, for the benefit of the holders of shares of Company Common Stock issued and outstanding immediately prior to the Effective Time an amount in cash as specified by Parent in such written notice in an amount not to exceed the Company\u2019s then-available cash on hand (the \u201cPayment Fund\u201d). To the extent, following the deposits contemplated by the preceding clauses (x) and (y), such fund diminishes for any reason below the level required to make prompt payment of the Merger Consideration, Parent shall promptly replace or restore, or cause to be replaced or restored, the lost portion of such fund so as to ensure that it is, at all times, maintained at a level sufficient to make such payments. The Payment Fund shall be invested by the Exchange Agent as directed by Parent; provided that (i) no such investment or losses thereon shall relieve Parent from making the payments required by this Article 2 or affect the amount of Merger Consideration payable hereunder, and following any losses Parent shall (or shall cause the Surviving Corporation to) promptly provide additional funds to the Exchange Agent in the amount of any such losses, (ii) no such investment shall have maturities that could prevent or delay payments to be made pursuant to this Agreement and (iii) such investments shall be in short-term obligations of the United States with maturities of no more than thirty (30) days, or guaranteed by, and backed by the full faith and credit of, the United States. Any net profit resulting from, or interest or income produced by, such investments shall be payable to the Surviving Corporation. The Payment Fund shall not be used for any other purpose. The Surviving Corporation shall (and Parent shall cause the Surviving Corporation to) pay all charges and expenses, including those of the Exchange Agent, in connection with the exchange of shares of Company Common Stock and the payment of the Merger Consideration in respect of such shares of Company Common Stock.\n(b) Promptly after the Effective Time, and in any event no later than three (3) Business Days after the Effective Time, Parent shall send, or shall cause the Exchange Agent to send, to each record holder of shares of Company Common Stock at the Effective Time whose shares were converted into the right to receive the Merger Consideration pursuant to Section 2.03(a) a letter of transmittal and instructions in forms reasonably satisfactory to the Company (which shall specify that the delivery shall be effected, and risk of loss and title shall pass, only upon proper delivery or transfer of the Certificates (or affidavits of loss in lieu of the Certificates pursuant to Section 2.09) to the Exchange Agent) for use in such exchange. Each holder of shares of Company Common Stock that have been converted into the right to receive the Merger Consideration shall be entitled to receive the Merger Consideration in respect of the shares of Company Common Stock represented by a Certificate, within two (2) Business Days, upon (i) surrender to the Exchange Agent of a Certificate, together with a duly completed and validly executed letter of transmittal, or (ii) receipt of an \u201cagent\u2019s message\u201d by the Exchange Agent (or such other evidence, if any, of transfer as the Exchange Agent may reasonably request) in the case of a book-entry transfer of shares of Company Common Stock, and, in each case, delivery to the Exchange Agent of such other documents as may reasonably be requested by the Exchange Agent. Until so surrendered or transferred, each such Certificate shall represent after the Effective Time for all purposes only the right to receive such Merger Consideration. No interest shall be paid or accrued on the cash payable upon the surrender or transfer of such Certificate.\n(c) If any portion of the Merger Consideration is to be paid to a Person other than the Person in whose name the surrendered Certificate is registered, it shall be a condition to such payment that (i) either such Certificate shall be properly endorsed or shall otherwise be in proper form for transfer and (ii) the Person requesting such payment shall pay to the Exchange Agent any transfer or other Tax required as a result of such payment to a Person other than the registered holder of such Certificate or establish to the satisfaction of the Exchange Agent that such Tax has been paid or is not payable.\n(d) All Merger Consideration paid upon the surrender of Certificates in accordance with the terms hereof shall be deemed to have been paid in full satisfaction of all rights pertaining to the shares of Company Common Stock formerly represented by such Certificate and from and after the Effective Time, there shall be no further registration of transfers of shares of Company Common Stock on the stock transfer books of the Surviving Corporation other than transfers to reflect, in accordance with customary settlement procedures, trades effected prior to the Effective Time. If, after the Effective Time, Certificates are presented to the Surviving Corporation, they shall be canceled and exchanged for the Merger Consideration as provided for, and in accordance with the procedures set forth, in this Article 2.\n(e) If any Certificate shall have been lost, stolen or destroyed, upon the holder\u2019s compliance with the replacement requirements established by the Exchange Agent, including, if necessary, the posting by such Person of a bond, in such customary amount as the Surviving Corporation may direct, as indemnity against any claim that may be made against it with respect to such Certificate, the Exchange Agent will issue, in exchange for such lost, stolen or destroyed Certificate, the Merger Consideration to be paid in respect of the shares of Company Common Stock formerly represented by such Certificate, as contemplated under this Article 2.\n(f) Any portion of the Payment Fund that remains unclaimed by the holders of shares of Company Common Stock twelve (12) months after the Effective Time shall be delivered to the Surviving Corporation, upon demand, and any such holder who has not exchanged shares of Company Common Stock for the Merger Consideration in accordance with this Section 2.04 prior to that time shall thereafter look only to Parent and the Surviving Corporation for payment of the Merger Consideration.", "size": 56, "samples": [{"hash": "3bDbqgKQKYM", "uri": "/contracts/3bDbqgKQKYM#surrender-and-payment", "label": "Merger Agreement (Tzuo Tien)", "score": 35.8090362549, "published": true}, {"hash": "9IRa8aumnAw", "uri": "/contracts/9IRa8aumnAw#surrender-and-payment", "label": "Merger Agreement (Zuora Inc)", "score": 35.7953453064, "published": true}, {"hash": "aHmxYGhLzyj", "uri": "/contracts/aHmxYGhLzyj#surrender-and-payment", "label": "Merger Agreement (Slaa Ii (Gp), L.L.C.)", "score": 35.7926063538, "published": true}], "snippet_links": [{"key": "prior-to-the-effective-time", "type": "clause", "offset": [4, 31]}, {"key": "computershare-trust-company", "type": "definition", "offset": [54, 81]}, {"key": "the-exchange-agent", "type": "clause", "offset": [110, 128]}, {"key": "recognized-exchange", "type": "definition", "offset": [155, 174]}, {"key": "agreed-to", "type": "clause", "offset": [181, 190]}, {"key": "the-parties-hereto", "type": "clause", "offset": [199, 217]}, {"key": "for-the-purpose-of", "type": "definition", "offset": [242, 260]}, {"key": "certificates-representing-shares", "type": "clause", "offset": [301, 333]}, {"key": "references-herein-to", "type": "definition", "offset": [408, 428]}, {"key": "references-to", "type": "clause", "offset": [466, 479]}, {"key": "account-statements", "type": "definition", "offset": [491, 509]}, {"key": "relating-to", "type": "definition", "offset": [510, 521]}, {"key": "ownership-of-shares-of-company-common-stock", "type": "clause", "offset": [526, 569]}, {"key": "exchange-agent-agreement", "type": "clause", "offset": [627, 651]}, {"key": "form-and-substance", "type": "clause", "offset": [656, 674]}, {"key": "to-the-company", "type": "definition", "offset": [697, 711]}, {"key": "payment-of-the-merger-consideration", "type": "clause", "offset": [746, 781]}, {"key": "in-accordance-with", "type": "clause", "offset": [782, 800]}, {"key": "following-the-effective-time", "type": "clause", "offset": [829, 857]}, {"key": "to-be-deposited", "type": "definition", "offset": [900, 915]}, {"key": "holders-of-shares", "type": "clause", "offset": [965, 982]}, {"key": "issued-and-outstanding", "type": "clause", "offset": [1007, 1029]}, {"key": "to-pay", "type": "clause", "offset": [1100, 1106]}, {"key": "per-share-merger-consideration", "type": "definition", "offset": [1121, 1151]}, {"key": "by-parent", "type": "clause", "offset": [1186, 1195]}, {"key": "by-the-company", "type": "clause", "offset": [1212, 1226]}, {"key": "pursuant-to-clause", "type": "clause", "offset": [1227, 1245]}, {"key": "written-request", "type": "clause", "offset": [1266, 1281]}, {"key": "prior-to-the-closing", "type": "clause", "offset": [1325, 1345]}, {"key": "the-company-shall", "type": "clause", "offset": [1347, 1364]}, {"key": "as-specified", "type": "clause", "offset": [1577, 1589]}, {"key": "written-notice", "type": "definition", "offset": [1608, 1622]}, {"key": "amount-not-to-exceed", "type": "clause", "offset": [1629, 1649]}, {"key": "cash-on-hand", "type": "clause", "offset": [1679, 1691]}, {"key": "payment-fund", "type": "definition", "offset": [1698, 1710]}, {"key": "to-the-extent", "type": "clause", "offset": [1714, 1727]}, {"key": "for-any-reason", "type": "clause", "offset": [1824, 1838]}, {"key": "prompt-payment", "type": "definition", "offset": [1872, 1886]}, {"key": "to-ensure", "type": "clause", "offset": [2031, 2040]}, {"key": "at-all-times", "type": "definition", "offset": [2053, 2065]}, {"key": "by-the-exchange", "type": "clause", "offset": [2158, 2173]}, {"key": "as-directed", "type": "definition", "offset": [2180, 2191]}, {"key": "provided-that", "type": "definition", "offset": [2203, 2216]}, {"key": "required-by", "type": "definition", "offset": [2304, 2315]}, {"key": "article-2", "type": "clause", "offset": [2321, 2330]}, {"key": "consideration-payable", "type": "clause", "offset": [2362, 2383]}, {"key": "promptly-provide", "type": "clause", "offset": [2479, 2495]}, {"key": "additional-funds", "type": "clause", "offset": [2496, 2512]}, {"key": "pursuant-to-this-agreement", "type": "clause", "offset": [2663, 2689]}, {"key": "in-short", "type": "clause", "offset": [2726, 2734]}, {"key": "obligations-of-the-united-states", "type": "clause", "offset": [2740, 2772]}, {"key": "guaranteed-by", "type": "clause", "offset": [2826, 2839]}, {"key": "full-faith-and-credit", "type": "clause", "offset": [2859, 2880]}, {"key": "net-profit", "type": "definition", "offset": [2908, 2918]}, {"key": "resulting-from", "type": "definition", "offset": [2919, 2933]}, {"key": "interest-or-income", "type": "definition", "offset": [2938, 2956]}, {"key": "payable-to", "type": "definition", "offset": [2996, 3006]}, {"key": "charges-and-expenses", "type": "clause", "offset": [3186, 3206]}, {"key": "in-connection-with", "type": "clause", "offset": [3247, 3265]}, {"key": "exchange-of-shares-of-company-common-stock", "type": "clause", "offset": [3270, 3312]}, {"key": "in-respect-of", "type": "definition", "offset": [3357, 3370]}, {"key": "promptly-after-the-effective-time", "type": "clause", "offset": [3412, 3445]}, {"key": "days-after", "type": "definition", "offset": [3497, 3507]}, {"key": "record-holder-of-shares", "type": "clause", "offset": [3598, 3621]}, {"key": "at-the-effective-time", "type": "clause", "offset": [3646, 3667]}, {"key": "right-to-receive", "type": "clause", "offset": [3705, 3721]}, {"key": "pursuant-to-section", "type": "clause", "offset": [3747, 3766]}, {"key": "letter-of-transmittal", "type": "definition", "offset": [3777, 3798]}, {"key": "the-delivery", "type": "clause", "offset": [3890, 3902]}, {"key": "risk-of-loss-and-title", "type": "clause", "offset": [3926, 3948]}, {"key": "transfer-of-the-certificates", "type": "clause", "offset": [3990, 4018]}, {"key": "in-lieu-of", "type": "clause", "offset": [4042, 4052]}, {"key": "the-shares", "type": "clause", "offset": [4335, 4345]}, {"key": "represented-by", "type": "clause", "offset": [4370, 4384]}, {"key": "validly-executed", "type": "clause", "offset": [4524, 4540]}, {"key": "receipt-of", "type": "clause", "offset": [4572, 4582]}, {"key": "other-evidence", "type": "definition", "offset": [4635, 4649]}, {"key": "reasonably-request", "type": "definition", "offset": [4697, 4715]}, {"key": "in-the-case", "type": "clause", "offset": [4717, 4728]}, {"key": "transfer-of-shares", "type": "definition", "offset": [4745, 4763]}, {"key": "each-case", "type": "definition", "offset": [4797, 4806]}, {"key": "delivery-to-the", "type": "clause", "offset": [4808, 4823]}, {"key": "other-documents", "type": "clause", "offset": [4847, 4862]}, {"key": "requested-by", "type": "definition", "offset": [4884, 4896]}, {"key": "all-purposes", "type": "definition", "offset": [5021, 5033]}, {"key": "no-interest", "type": "clause", "offset": [5087, 5098]}, {"key": "a-person", "type": "definition", "offset": [5260, 5268]}, {"key": "proper-form", "type": "definition", "offset": [5473, 5484]}, {"key": "for-transfer", "type": "definition", "offset": [5485, 5497]}, {"key": "pay-to", "type": "definition", "offset": [5548, 5554]}, {"key": "other-tax", "type": "definition", "offset": [5590, 5599]}, {"key": "payment-to-a", "type": "clause", "offset": [5629, 5641]}, {"key": "registered-holder", "type": "clause", "offset": [5664, 5681]}, {"key": "satisfaction-of", "type": "clause", "offset": [5722, 5737]}, {"key": "not-payable", "type": "definition", "offset": [5791, 5802]}, {"key": "paid-upon", "type": "definition", "offset": [5833, 5842]}, {"key": "surrender-of-certificates", "type": "clause", "offset": [5847, 5872]}, {"key": "the-terms", "type": "definition", "offset": [5892, 5901]}, {"key": "full-satisfaction", "type": "definition", "offset": [5946, 5963]}, {"key": "all-rights", "type": "clause", "offset": [5967, 5977]}, {"key": "pertaining-to", "type": "definition", "offset": [5978, 5991]}, {"key": "from-and-after-the-effective-time", "type": "clause", "offset": [6072, 6105]}, {"key": "transfers-of-shares", "type": "clause", "offset": [6149, 6168]}, {"key": "stock-on", "type": "definition", "offset": [6187, 6195]}, {"key": "stock-transfer-books", "type": "clause", "offset": [6200, 6220]}, {"key": "transfers-to", "type": "clause", "offset": [6261, 6273]}, {"key": "settlement-procedures", "type": "clause", "offset": [6312, 6333]}, {"key": "presented-to", "type": "definition", "offset": [6427, 6439]}, {"key": "the-procedures", "type": "definition", "offset": [6573, 6587]}, {"key": "compliance-with-the", "type": "clause", "offset": [6702, 6721]}, {"key": "with-respect-to", "type": "clause", "offset": [6970, 6985]}, {"key": "in-exchange", "type": "clause", "offset": [7035, 7046]}, {"key": "consideration-to-be-paid", "type": "clause", "offset": [7106, 7130]}, {"key": "by-the-holders", "type": "clause", "offset": [7319, 7333]}, {"key": "upon-demand", "type": "clause", "offset": [7461, 7472]}, {"key": "exchanged-shares", "type": "definition", "offset": [7506, 7522]}, {"key": "parent-and-the-surviving-corporation", "type": "clause", "offset": [7662, 7698]}, {"key": "for-payment", "type": "clause", "offset": [7699, 7710]}], "hash": "0aa019ab0c4918c72ea19145113da1e1", "id": 6}, {"snippet": "(a) Prior to the Effective Time, Parent shall appoint an agent reasonably acceptable to the Company (the \u201cExchange Agent\u201d) for the purpose of exchanging for the Merger Consideration (i) certificates representing shares of Company Stock (the \u201cCertificates\u201d) and (ii) uncertificated shares of Company Stock (the \u201cUncertificated Shares\u201d). Parent and the Exchange Agent shall enter into an exchange agent agreement in form and substance reasonably satisfactory to Parent and the Company. Parent shall make available to the Exchange Agent, as needed, the Stock Consideration to be paid in respect of the Certificates and the Uncertificated Shares. Parent shall deposit or cause to be deposited with the Exchange Agent cash in an amount equal to the Cash Consideration to be paid in respect of the Certificates and the Uncertificated Shares, which amount shall represent the maximum Cash Consideration payable in connection with the First Merger assuming no holder of Company Stock shall perfect its appraisal rights. Any cash deposited with the Exchange Agent to pay the Cash Consideration shall be deposited in a separate fund established for the benefit of the holders of Company Stock and shall not be used for any purpose other than as set forth in this Article 3. Such cash shall be invested by the Exchange Agent as directed by Parent in: (A) direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587 with a remaining term at the time of acquisition thereof not in excess of 90 days, (B) money market accounts or certificates of deposit maturing within 90 days of the acquisition thereof and issued by a bank or trust company organized under the laws of the United States of America or a State thereof having a combined capital surplus in excess of $500,000,000 (a \u201cUnited States Bank\u201d), (C) commercial paper issued by a domestic corporation and given a rating of no lower than A1 by Standard & Poor\u2019s Corporation and P1 by M\u2587\u2587\u2587\u2587\u2019\u2587 Investors Service, Inc. with a remaining term at the time of acquisition thereof not in excess of 90 days or (D) demand deposits with any United States Bank. Promptly after the Effective Time, Parent shall send, or shall cause the Exchange Agent to send, to each holder of shares of Company Stock at the Effective Time a letter of transmittal and instructions in form reasonably satisfactory to Parent and the Company (which shall specify that the delivery shall be effected, and risk of loss and title shall pass, only upon proper delivery of the Certificates or transfer of the Uncertificated Shares to the Exchange Agent) for use in such exchange; provided, that any such letter of transmittal and instructions shall be sent to holders of Uncertificated Shares only to the extent determined necessary by Parent, the Company and the Exchange Agent to effect the transactions contemplated hereby.\n(b) Each holder of shares of Company Stock that have been converted into the right to receive the Merger Consideration shall be entitled to receive, upon (i) surrender to the Exchange Agent of a Certificate, together with a properly completed letter of transmittal, or (ii) receipt of an \u201cagent\u2019s message\u201d by the Exchange Agent (or such other evidence, if any, of transfer as the Exchange Agent may reasonably request) in the case of a book-entry transfer of Uncertificated Shares, the Merger Consideration in respect of the Company Stock represented by such Certificate or such Uncertificated Share. The shares of Parent Stock constituting part of such Merger Consideration, at Parent\u2019s option, shall be in uncertificated book-entry form, unless a physical certificate is requested by a holder of shares of Company Stock or is otherwise required under applicable law. Until so surrendered or transferred, as the case may be, each such Certificate or Uncertificated Share shall represent after the Effective Time for all purposes only the right to receive such Merger Consideration.\n(c) If any portion of the Merger Consideration is to be paid to a Person other than the Person in whose name the surrendered Certificate or the transferred Uncertificated Share is registered, it shall be a condition to such payment that (i) either such Certificate shall be properly endorsed or shall otherwise be in proper form for transfer or such Uncertificated Share shall be properly transferred and (ii) the Person requesting such payment shall pay to the Exchange Agent any transfer or other taxes required as a result of such payment to a Person other than the registered holder of such Certificate or Uncertificated Share or establish to the satisfaction of the Exchange Agent that such taxes have been paid or are not payable.\n(d) After the Effective Time, there shall be no further registration of transfers of shares of Company Stock. If, after the Effective Time, Certificates or Uncertificated Shares are presented to the Surviving Corporation, they shall be canceled and exchanged for the Merger Consideration provided for, and in accordance with the procedures set forth, in this Article 3.\n(e) Any portion of the Merger Consideration made available to the Exchange Agent pursuant to Section 3.06(a) that remains unclaimed by the holders of shares of Company Stock six months after the Effective Time shall be returned to Parent upon demand by Parent (together with any interest or other income thereon), and any such holder who has not exchanged shares of Company Stock for the Merger Consideration in accordance with this Section 3.06 prior to that time shall thereafter look only to Parent for payment of the Merger Consideration, and any dividends and distributions with respect thereto, in respect of such shares without any interest thereon. Notwithstanding the foregoing, Parent shall not be liable to any holder of shares of Company Stock for any amounts paid to a public official pursuant to applicable abandoned property, escheat or similar laws. Any amounts remaining unclaimed by holders of shares of Company Stock two years after the Effective Time (or such earlier date, immediately prior to such time when the amounts would otherwise escheat to or become property of any Governmental Entity) shall become, to the extent permitted by applicable law, the property of Parent free and clear of any claims or interest of any Person previously entitled thereto.\n(f) No dividends or other distributions with respect to securities of Parent constituting part of the Merger Consideration, and no cash payment in lieu of fractional shares as provided in Section 3.07, shall be paid to the holder of any Certificates not surrendered or of any Uncertificated Shares not transferred until such Certificates or Uncertificated Shares are surrendered or transferred, as the case may be, as provided in this Section 3.06. Following such surrender or transfer, there shall be paid, without interest, to the Person in whose name the securities of Parent have been registered, (i) at the time of such surrender or transfer, the amount of any cash payable in lieu of fractional shares to which such Person is entitled pursuant to Section 3.07 and the amount of all dividends or other distributions with a record date after the Effective Time previously paid or payable on the date of such surrender with respect to such securities, and (ii) at the appropriate payment date, the amount of dividends or other distributions with a record date after the Effective Time and prior to the surrender or transfer and with a payment date subsequent to the surrender or transfer payable with respect to such securities.\n(g) Any portion of the Merger Consideration made available to the Exchange Agent pursuant to Section 3.06(a) or Section 3.07 to pay for shares of Company Stock for which appraisal rights have been perfected shall be returned to Parent, upon demand by Parent.", "size": 51, "samples": [{"hash": "h0c4fjhn35g", "uri": "/contracts/h0c4fjhn35g#surrender-and-payment", "label": "Merger Agreement (Inveresk Research Group Inc)", "score": 21.0, "published": true}], "snippet_links": [{"key": "prior-to-the-effective-time", "type": "clause", "offset": [4, 31]}, {"key": "an-agent", "type": "clause", "offset": [54, 62]}, {"key": "to-the-company", "type": "definition", "offset": [85, 99]}, {"key": "for-the-purpose-of", "type": "definition", "offset": [123, 141]}, {"key": "shares-of-company-stock", "type": "clause", "offset": [212, 235]}, {"key": "uncertificated-shares", "type": "definition", "offset": [266, 287]}, {"key": "agent-shall", "type": "definition", "offset": [360, 371]}, {"key": "exchange-agent-agreement", "type": "clause", "offset": [386, 410]}, {"key": "form-and-substance", "type": "clause", "offset": [414, 432]}, {"key": "to-parent", "type": "definition", "offset": [457, 466]}, {"key": "and-the-company", "type": "clause", "offset": [467, 482]}, {"key": "available-to", "type": "definition", "offset": [502, 514]}, {"key": "as-needed", "type": "definition", "offset": [535, 544]}, {"key": "consideration-to-be-paid", "type": "clause", "offset": [556, 580]}, {"key": "in-respect-of", "type": "definition", "offset": [581, 594]}, {"key": "the-certificates", "type": "definition", "offset": [595, 611]}, {"key": "to-be-deposited", "type": "definition", "offset": [673, 688]}, {"key": "equal-to", "type": "definition", "offset": [731, 739]}, {"key": "consideration-payable", "type": "clause", "offset": [882, 903]}, {"key": "in-connection-with", "type": "clause", "offset": [904, 922]}, {"key": "the-first-merger", "type": "clause", "offset": [923, 939]}, {"key": "stock-shall", "type": "definition", "offset": [970, 981]}, {"key": "appraisal-rights", "type": "clause", "offset": [994, 1010]}, {"key": "to-pay", "type": "clause", "offset": [1055, 1061]}, {"key": "fund-established", "type": "clause", "offset": [1118, 1134]}, {"key": "benefit-of-the-holders", "type": "clause", "offset": [1143, 1165]}, {"key": "article-3", "type": "definition", "offset": [1253, 1262]}, {"key": "by-the-exchange", "type": "clause", "offset": [1292, 1307]}, {"key": "as-directed", "type": "definition", "offset": [1314, 1325]}, {"key": "by-parent", "type": "clause", "offset": [1326, 1335]}, {"key": "obligations-of", "type": "clause", "offset": [1351, 1365]}, {"key": "principal-of", "type": "definition", "offset": [1386, 1398]}, {"key": "interest-on", "type": "definition", "offset": [1403, 1414]}, {"key": "guaranteed-by", "type": "clause", "offset": [1441, 1454]}, {"key": "the-\u2587", "type": "clause", "offset": [1456, 1461]}, {"key": "remaining-term", "type": "clause", "offset": [1492, 1506]}, {"key": "at-the-time", "type": "definition", "offset": [1507, 1518]}, {"key": "money-market-accounts", "type": "definition", "offset": [1572, 1593]}, {"key": "certificates-of-deposit", "type": "clause", "offset": [1597, 1620]}, {"key": "of-the-acquisition", "type": "clause", "offset": [1645, 1663]}, {"key": "issued-by", "type": "clause", "offset": [1676, 1685]}, {"key": "company-organized", "type": "clause", "offset": [1702, 1719]}, {"key": "the-united-states-of-america", "type": "clause", "offset": [1738, 1766]}, {"key": "having-a", "type": "definition", "offset": [1786, 1794]}, {"key": "capital-surplus", "type": "definition", "offset": [1804, 1819]}, {"key": "commercial-paper", "type": "clause", "offset": [1876, 1892]}, {"key": "domestic-corporation", "type": "definition", "offset": [1905, 1925]}, {"key": "standard-poor", "type": "definition", "offset": [1968, 1983]}, {"key": "demand-deposits", "type": "definition", "offset": [2129, 2144]}, {"key": "promptly-after-the-effective-time", "type": "clause", "offset": [2174, 2207]}, {"key": "at-the-effective-time", "type": "clause", "offset": [2313, 2334]}, {"key": "letter-of-transmittal", "type": "definition", "offset": [2337, 2358]}, {"key": "the-delivery", "type": "clause", "offset": [2460, 2472]}, {"key": "risk-of-loss-and-title", "type": "clause", "offset": [2496, 2518]}, {"key": "delivery-of-the", "type": "clause", "offset": [2548, 2563]}, {"key": "transfer-of-the", "type": "clause", "offset": [2580, 2595]}, {"key": "instructions-shall", "type": "definition", "offset": [2717, 2735]}, {"key": "to-holders", "type": "clause", "offset": [2744, 2754]}, {"key": "to-the-extent", "type": "clause", "offset": [2785, 2798]}, {"key": "the-company-and-the", "type": "clause", "offset": [2831, 2850]}, {"key": "contemplated-hereby", "type": "clause", "offset": [2893, 2912]}, {"key": "right-to-receive", "type": "clause", "offset": [2991, 3007]}, {"key": "properly-completed", "type": "definition", "offset": [3138, 3156]}, {"key": "receipt-of", "type": "clause", "offset": [3188, 3198]}, {"key": "other-evidence", "type": "definition", "offset": [3251, 3265]}, {"key": "reasonably-request", "type": "definition", "offset": [3313, 3331]}, {"key": "in-the-case", "type": "clause", "offset": [3333, 3344]}, {"key": "entry-transfer", "type": "clause", "offset": [3355, 3369]}, {"key": "the-company-stock", "type": "clause", "offset": [3435, 3452]}, {"key": "represented-by", "type": "clause", "offset": [3453, 3467]}, {"key": "parent-stock", "type": "definition", "offset": [3529, 3541]}, {"key": "at-parent", "type": "definition", "offset": [3590, 3599]}, {"key": "entry-form", "type": "definition", "offset": [3642, 3652]}, {"key": "physical-certificate", "type": "clause", "offset": [3663, 3683]}, {"key": "requested-by", "type": "definition", "offset": [3687, 3699]}, {"key": "a-holder", "type": "definition", "offset": [3700, 3708]}, {"key": "applicable-law", "type": "definition", "offset": [3767, 3781]}, {"key": "all-purposes", "type": "definition", "offset": [3931, 3943]}, {"key": "a-person", "type": "definition", "offset": [4061, 4069]}, {"key": "proper-form", "type": "definition", "offset": [4314, 4325]}, {"key": "for-transfer", "type": "definition", "offset": [4326, 4338]}, {"key": "properly-transferred", "type": "definition", "offset": [4377, 4397]}, {"key": "pay-to", "type": "definition", "offset": [4448, 4454]}, {"key": "other-taxes", "type": "clause", "offset": [4490, 4501]}, {"key": "payment-to-a", "type": "clause", "offset": [4531, 4543]}, {"key": "registered-holder", "type": "clause", "offset": [4566, 4583]}, {"key": "satisfaction-of", "type": "clause", "offset": [4648, 4663]}, {"key": "not-payable", "type": "definition", "offset": [4721, 4732]}, {"key": "transfers-of-shares", "type": "clause", "offset": [4806, 4825]}, {"key": "presented-to", "type": "definition", "offset": [4916, 4928]}, {"key": "the-surviving-corporation", "type": "clause", "offset": [4929, 4954]}, {"key": "in-accordance-with", "type": "clause", "offset": [5040, 5058]}, {"key": "the-procedures", "type": "definition", "offset": [5059, 5073]}, {"key": "made-available", "type": "clause", "offset": [5148, 5162]}, {"key": "pursuant-to-section", "type": "clause", "offset": [5185, 5204]}, {"key": "holders-of-shares", "type": "clause", "offset": [5243, 5260]}, {"key": "six-months", "type": "definition", "offset": [5278, 5288]}, {"key": "upon-demand", "type": "clause", "offset": [5342, 5353]}, {"key": "other-income", "type": "definition", "offset": [5395, 5407]}, {"key": "exchanged-shares", "type": "definition", "offset": [5450, 5466]}, {"key": "payment-of-the-merger-consideration", "type": "clause", "offset": [5610, 5645]}, {"key": "dividends-and-distributions", "type": "definition", "offset": [5655, 5682]}, {"key": "notwithstanding-the-foregoing", "type": "clause", "offset": [5761, 5790]}, {"key": "to-any-holder", "type": "definition", "offset": [5819, 5832]}, {"key": "public-official", "type": "clause", "offset": [5886, 5901]}, {"key": "pursuant-to-applicable", "type": "clause", "offset": [5902, 5924]}, {"key": "abandoned-property", "type": "clause", "offset": [5925, 5943]}, {"key": "similar-laws", "type": "definition", "offset": [5956, 5968]}, {"key": "amounts-remaining", "type": "clause", "offset": [5974, 5991]}, {"key": "by-holders", "type": "clause", "offset": [6002, 6012]}, {"key": "two-years", "type": "clause", "offset": [6040, 6049]}, {"key": "governmental-entity", "type": "definition", "offset": [6199, 6218]}, {"key": "the-property", "type": "clause", "offset": [6277, 6289]}, {"key": "free-and-clear", "type": "clause", "offset": [6300, 6314]}, {"key": "any-person", "type": "definition", "offset": [6344, 6354]}, {"key": "no-dividends-or-other-distributions", "type": "clause", "offset": [6388, 6423]}, {"key": "with-respect-to", "type": "clause", "offset": [6424, 6439]}, {"key": "cash-payment-in-lieu-of-fractional-shares", "type": "clause", "offset": [6515, 6556]}, {"key": "certificates-not-surrendered", "type": "clause", "offset": [6621, 6649]}, {"key": "the-securities", "type": "definition", "offset": [6938, 6952]}, {"key": "record-date", "type": "definition", "offset": [7212, 7223]}, {"key": "date-of", "type": "clause", "offset": [7283, 7290]}, {"key": "payment-date", "type": "clause", "offset": [7367, 7379]}, {"key": "subsequent-to-the", "type": "clause", "offset": [7535, 7552]}, {"key": "pay-for", "type": "definition", "offset": [7744, 7751]}], "hash": "b4f389592817384c39c66ba45b065cf2", "id": 7}, {"snippet": "Section 2.06.", "size": 23, "samples": [{"hash": "gWKMlsXpBhv", "uri": "/contracts/gWKMlsXpBhv#surrender-and-payment", "label": "Merger Agreement (Mueller Water Products, Inc.)", "score": 21.0, "published": true}, {"hash": "bL5dzMy3enA", "uri": "/contracts/bL5dzMy3enA#surrender-and-payment", "label": "Merger Agreement (Walter Industries Inc /New/)", "score": 21.0, "published": true}, {"hash": "8UvXuiUkVlM", "uri": "/contracts/8UvXuiUkVlM#surrender-and-payment", "label": "Merger Agreement (Fedex Corp)", "score": 21.0, "published": true}], "snippet_links": [], "hash": "263ff5c0acbabd9b025335acdd3d00be", "id": 8}, {"snippet": "(a) Prior to the Mailing Date, CME shall appoint an exchange agent reasonably acceptable to GFI (the \u201cExchange Agent\u201d) for the purpose of exchanging Certificates for the Merger Consideration. As promptly as reasonably practicable after the Effective Time, but in no event more than five Business Days following the Effective Time, CME will send, or will cause the Exchange Agent to send, to each holder of record of shares of GFI Common Stock as of the Effective Time, whose shares of GFI Common Stock were converted into the right to receive the Merger Consideration pursuant to Section 1.7 (Effect on Capital Stock) and Section 1.10 (Election Procedures), a letter of transmittal (which shall specify that the delivery shall be effected, and risk of loss and title shall pass, only upon proper delivery of the Certificates (or effective affidavits of loss in lieu thereof) to the Exchange Agent) in such form as GFI and CME may reasonably agree, including instructions for use in effecting the surrender of Certificates (or effective affidavits of loss in lieu thereof) to the Exchange Agent in exchange for the Merger Consideration. At or prior to the Effective Time, CME shall cause to be deposited with the Exchange Agent, for the benefit of the holders of shares of GFI Common Stock, shares of CME Class A Common Stock (which shall be in non-certificated book-entry form) and an amount of cash in U.S. dollars sufficient to be issued and paid pursuant to Section 1.7 (Effect on Capital Stock), Section 1.10 (Election Procedures) and Section 2.5 (No Fractional Shares), payable upon due surrender of the Certificates (or effective affidavits of loss in lieu thereof) pursuant to the provisions of Article I and this Article II. Following the Effective Time, CME agrees to make available to the Exchange Agent, from time to time as needed, cash in U.S. dollars sufficient to pay any dividends and other distributions pursuant to Section 2.1(f) (Dividends and Distributions). All cash and book-entry shares representing CME Class A Common Stock deposited with the Exchange Agent shall be referred to in this Agreement as the \u201cExchange Fund.\u201d The Exchange Agent shall deliver the Merger Consideration contemplated to be issued pursuant to Section 1.7 (Effect on Capital Stock), Section 1.10 (Election Procedures) and Section 2.5 (No Fractional Shares) out of the Exchange Fund. The Exchange Fund shall not be used for any other purpose. The Exchange Agent shall invest any cash included in the Exchange Fund as directed by CME in short-term direct obligations of the U.S. or short-term obligations for which the full faith and credit of the U.S. is pledged to provide for payment of all principal and interest (or funds that invest in such obligations); provided that no gain or loss thereon shall affect the amounts payable to the holders of GFI Common Stock pursuant to this Agreement. If for any reason (including losses) the cash in the Exchange Fund shall be insufficient to satisfy all of the payment obligations to be made in cash by the Exchange Agent hereunder, CME shall promptly deposit cash into the Exchange Fund in an amount which is equal to the deficiency in the amount of cash required to fully satisfy such cash payment obligations. Any interest and other income resulting from such investments shall be the property of, and paid to, CME. CME shall be responsible for all fees and expenses of the Exchange Agent.\n(b) Each holder of shares of GFI Common Stock that have been converted into the right to receive the Merger Consideration, upon surrender to the Exchange Agent of a Certificate (or effective affidavits of loss in lieu thereof), together with a properly completed letter of transmittal, duly executed and completed in accordance with the instructions thereto, and such other documents as may reasonably be required by the Exchange Agent, will be entitled to receive in exchange therefor (i) the number of shares of CME Class A Common Stock (which shall be in non-certificated book-entry form unless a physical certificate is requested) representing, in the aggregate, the whole number of shares of CME Class A Common Stock, if any, that such holder has the right to receive and/or (ii) a check in the amount, if any, that such holder has the right to receive, including cash payable pursuant to Section 1.7(b), cash payable in lieu of fractional shares pursuant to Section 2.5 (No Fractional Shares) and dividends and other distributions payable pursuant to Section 2.1(f) (Dividends and Distributions) (less any required Tax withholding), in each case pursuant to Section 1.7 (Effect on Capital Stock), Section 1.10 (Election Procedures) and this Article II. The Merger Consideration shall be paid as promptly as practicable after receipt by the Exchange Agent of the Certificate and letter of transmittal in accordance with the foregoing. No interest shall be paid or accrued on any Merger Consideration, cash in lieu of fractional shares or unpaid dividends and distributions payable to holders of Certificates. Until so surrendered, each such Certificate shall, after the Effective Time, represent for all purposes only the right to receive such Merger Consideration, cash in lieu of any fractional shares and any unpaid dividends and distributions.", "size": 15, "samples": [{"hash": "bwLzS8ewN6m", "uri": "/contracts/bwLzS8ewN6m#surrender-and-payment", "label": "Agreement and Plan of Merger (GFI Group Inc.)", "score": 25.9199180603, "published": true}], "snippet_links": [{"key": "mailing-date", "type": "definition", "offset": [17, 29]}, {"key": "an-exchange", "type": "clause", "offset": [49, 60]}, {"key": "for-the-purpose-of", "type": "definition", "offset": [119, 137]}, {"key": "the-merger-consideration", "type": "clause", "offset": [166, 190]}, {"key": "after-the-effective-time", "type": "clause", "offset": [230, 254]}, {"key": "in-no-event", "type": "clause", "offset": [260, 271]}, {"key": "business-days", "type": "clause", "offset": [287, 300]}, {"key": "following-the-effective-time", "type": 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"type": "clause", "offset": [1094, 1105]}, {"key": "prior-to-the-effective-time", "type": "clause", "offset": [1142, 1169]}, {"key": "to-be-deposited", "type": "definition", "offset": [1187, 1202]}, {"key": "holders-of-shares", "type": "clause", "offset": [1251, 1268]}, {"key": "cme-class-a-common-stock", "type": "definition", "offset": [1300, 1324]}, {"key": "entry-form", "type": "definition", "offset": [1366, 1376]}, {"key": "issued-and-paid", "type": "definition", "offset": [1433, 1448]}, {"key": "no-fractional-shares", "type": "clause", "offset": [1552, 1572]}, {"key": "the-provisions-of-article", "type": "clause", "offset": [1684, 1709]}, {"key": "article-ii", "type": "clause", "offset": [1721, 1731]}, {"key": "agrees-to", "type": "clause", "offset": [1767, 1776]}, {"key": "available-to", "type": "definition", "offset": [1782, 1794]}, {"key": "from-time-to-time", "type": "clause", "offset": [1815, 1832]}, {"key": "as-needed", "type": "definition", "offset": [1833, 1842]}, {"key": "to-pay", "type": "clause", "offset": [1876, 1882]}, {"key": "dividends-and-other-distributions", "type": "clause", "offset": [1887, 1920]}, {"key": "dividends-and-distributions", "type": "definition", "offset": [1949, 1976]}, {"key": "entry-shares", "type": "clause", "offset": [1997, 2009]}, {"key": "agent-shall", "type": "definition", "offset": [2076, 2087]}, {"key": "in-this-agreement", "type": "definition", "offset": [2103, 2120]}, {"key": "exchange-fund", "type": "clause", "offset": [2129, 2142]}, {"key": "as-directed", "type": "definition", "offset": [2510, 2521]}, {"key": "in-short", "type": "clause", "offset": [2529, 2537]}, {"key": "the-us", "type": "clause", "offset": [2565, 2572]}, {"key": "term-obligations", "type": "definition", "offset": [2583, 2599]}, {"key": "full-faith-and-credit", "type": "clause", "offset": [2614, 2635]}, {"key": "payment-of", "type": "clause", "offset": [2674, 2684]}, {"key": "principal-and-interest", "type": "clause", "offset": [2689, 2711]}, {"key": "invest-in", "type": "clause", "offset": [2727, 2736]}, {"key": "provided-that", "type": "definition", "offset": [2756, 2769]}, {"key": "no-gain-or-loss", "type": "clause", "offset": [2770, 2785]}, {"key": "payable-to", "type": "definition", "offset": [2819, 2829]}, {"key": "pursuant-to-this-agreement", "type": "clause", "offset": [2862, 2888]}, {"key": "for-any-reason", "type": "clause", "offset": [2893, 2907]}, {"key": "the-payment", "type": "clause", "offset": [2997, 3008]}, {"key": "by-the-exchange", "type": "clause", "offset": [3040, 3055]}, {"key": "agent-hereunder", "type": "clause", "offset": [3056, 3071]}, {"key": "deposit-cash", "type": "clause", "offset": [3092, 3104]}, {"key": "equal-to", "type": "definition", "offset": [3150, 3158]}, {"key": "cash-payment-obligations", "type": "clause", "offset": [3227, 3251]}, {"key": "other-income", "type": "definition", "offset": [3270, 3282]}, {"key": "resulting-from", "type": "definition", "offset": [3283, 3297]}, {"key": "the-property", "type": "clause", "offset": [3324, 3336]}, {"key": "responsible-for", "type": "clause", "offset": [3372, 3387]}, {"key": "expenses-of-the", "type": "clause", "offset": [3401, 3416]}, {"key": "properly-completed", "type": "definition", "offset": [3677, 3695]}, {"key": "duly-executed", "type": "clause", "offset": [3719, 3732]}, {"key": "in-accordance-with", "type": "clause", "offset": [3747, 3765]}, {"key": "other-documents", "type": "clause", "offset": [3801, 3816]}, {"key": "required-by", "type": "definition", "offset": [3838, 3849]}, {"key": "number-of-shares-of", "type": "clause", "offset": [3927, 3946]}, {"key": "physical-certificate", "type": "clause", "offset": [4033, 4053]}, {"key": "in-the-aggregate", "type": "definition", "offset": [4082, 4098]}, {"key": "whole-number", "type": "definition", "offset": [4104, 4116]}, {"key": "required-tax-withholding", "type": "clause", "offset": [4545, 4569]}, {"key": "each-case", "type": "definition", "offset": [4575, 4584]}, {"key": "receipt-by-the", "type": "clause", "offset": [4764, 4778]}, {"key": "the-foregoing", "type": "definition", "offset": [4858, 4871]}, {"key": "no-interest", "type": "clause", "offset": [4873, 4884]}, {"key": "cash-in-lieu-of-fractional-shares", "type": "clause", "offset": [4939, 4972]}, {"key": "unpaid-dividends", "type": "clause", "offset": [4976, 4992]}, {"key": "holders-of-certificates", "type": "clause", "offset": [5022, 5045]}, {"key": "all-purposes", "type": "definition", "offset": [5138, 5150]}], "hash": "5929505ed28314f3590f4e1067ac9c4f", "id": 9}, {"snippet": "(a) Prior to the Acceptance Date, Parent shall appoint a bank or trust company to act as agent (the \u201cDepository Agent\u201d) for purposes of paying the aggregate Offer Price to the holders of Shares that become entitled to receive the aggregate Offer Price pursuant to Section 2.01(d) and as agent (the \u201cPaying Agent\u201d) for the purpose of exchanging for the Merger Consideration the Shares pursuant to Section 3.03(a). Promptly after (and in any event no later than the first Business Day after) the Acceptance Date, Parent shall deposit, or shall cause to be deposited, with the Depository Agent cash sufficient to make the payment of the aggregate Offer Price payable pursuant to Section 2.01(d). As of the Effective Time, Parent shall deposit, or shall cause to be deposited, with the Paying Agent cash sufficient to pay the aggregate Merger Consideration payable pursuant to Section 3.03(a) (together with the amount deposited pursuant to the immediately preceding sentence, the \u201cPayment Fund\u201d). The Payment Fund shall not be used for any purpose other than to pay the Offer Price in the Offer and the Merger Consideration to holders of Shares in the Merger.\n(b) Except as provided in this Section 3.04(b), at the Effective Time, holders of Shares shall not be required to take any action with respect to the exchange of their Shares for the Merger Consideration.\n(i) Any holder of Shares held in direct registry form through the Company\u2019s transfer agent, Equiniti Trust Company, LLC (formerly known as American Stock Transfer & Trust Company, LLC) (the \u201cCompany Transfer Agent\u201d) shall, subject to compliance with customary procedures of the Paying Agent and the Company Transfer Agent, automatically upon the Effective Time, be entitled to receive, and Parent shall cause the Paying Agent to pay and deliver as promptly as possible after the Effective Time, the Merger Consideration to which such holder shall become entitled pursuant Section 3.03(a), and the Shares so exchanged shall be forthwith canceled. Payment of the applicable Merger Consideration with respect to such Shares shall be made only to the Person in whose name such Shares are registered.\n(ii) With respect to Shares held, directly or indirectly, through the Depository Trust Company (\u201cDTC\u201d), Parent and the Company shall cooperate to establish procedures with the Paying Agent, DTC, DTC\u2019s nominees and such other necessary third-party intermediaries to ensure that the Paying Agent will transmit to DTC or its nominees as promptly as practicable after the Effective Time, upon surrender of Shares held of record by DTC or its nominees in accordance with DTC\u2019s customary surrender procedures and such other procedures as agreed by Parent, the Company, the Paying Agent, DTC, DTC\u2019s nominees and such other necessary third-party intermediaries, the Merger Consideration to which the beneficial owners of such Shares held, directly or indirectly through DTC, shall become entitled pursuant to Section 3.03(a).\n(iii) No interest shall accrue or be paid on the Merger Consideration payable to holders of Shares in accordance with this Section 3.04(b) for the benefit of the holder thereof. Until exchanged as contemplated by this Section 3.04(b) or as otherwise contemplated in Section 3.05, each Share shall be deemed at any time after the Effective Time to represent only the right to receive the applicable Merger Consideration as contemplated by Section 3.03(a).\n(iv) If the payment of any Merger Consideration is to be made to a Person other than the Person in whose name the surrendered Shares is registered on the stock transfer books of the Company, it shall be a condition of payment that the Person requesting such payment shall have paid all transfer and other similar Taxes required by reason of the payment of the Merger Consideration to a Person other than the registered holder of the Shares surrendered, or shall have established to the satisfaction of the Surviving Corporation that such Taxes either have been paid or are not applicable. None of Parent, Purchaser or the Surviving Corporation shall have any liability for the transfer and other similar Taxes described in this Section 3.04(b)(iv) under any circumstance.\n(c) All Merger Consideration paid upon the transfer of Shares in accordance with the terms hereof shall be deemed to have been paid in full satisfaction of all rights pertaining to the Shares formerly represented by such Shares. After the Effective Time, there shall be no further registration of transfers of Shares.\n(d) Any portion of the Merger Consideration made available to the Paying Agent pursuant to Section 3.04(a) (and any interest or other income earned thereon) that remains unclaimed by the holders of Shares twelve months after the Effective Time shall be returned to Parent, upon demand, and any such holder who has not exchanged such Shares for the Merger Consideration in accordance with this Section 3.04 prior to that time shall thereafter look only to Parent for payment of the Merger Consideration in respect of such Shares without any interest thereon. Notwithstanding the foregoing, Parent shall not be liable to any holder of Shares for any amount paid to a public official pursuant to applicable abandoned property, escheat or similar laws. Any amounts remaining unclaimed by holders of Shares immediately prior to such time when the amounts would otherwise escheat to or become property of any Governmental Authority shall become, to the extent permitted by Applicable Law, the property of Parent free and clear of any claims or interest of any Person previously entitled thereto.", "size": 14, "samples": [{"hash": "eg0AOCsB9PZ", "uri": "/contracts/eg0AOCsB9PZ#surrender-and-payment", "label": "Merger Agreement (Aspen Technology, Inc.)", "score": 36.0718688965, "published": true}, {"hash": "7HyMl9YZRh1", "uri": "/contracts/7HyMl9YZRh1#surrender-and-payment", "label": "Merger Agreement (Emerson Electric Co)", "score": 36.0718688965, "published": true}, {"hash": "196c3bFrrvl", "uri": "/contracts/196c3bFrrvl#surrender-and-payment", "label": "Merger Agreement (Aspen Technology, Inc.)", "score": 36.0718688965, "published": true}], "snippet_links": [{"key": "acceptance-date", "type": "definition", "offset": [17, 32]}, {"key": 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