Common use of The Exchanges Clause in Contracts

The Exchanges. On the terms of this Agreement and subject to the satisfaction (or, to the extent permitted by applicable Law, waiver by the party entitled to the benefit thereof) of the conditions set forth in Article VII, at the Closing, ▇▇▇▇▇▇ will transfer and deliver to Xerox, and Xerox will accept from ▇▇▇▇▇▇, an aggregate of 300,000 shares of Xerox Series A Preferred Stock, and Xerox will transfer and deliver to ▇▇▇▇▇▇, and ▇▇▇▇▇▇ will accept from Xerox, in exchange, (i) an aggregate of 120,000 shares of Conduent Series A Preferred Stock (the “Conduent Exchange” and such shares, the “Acquired Conduent Shares”) and (ii) an aggregate of 180,000 shares of Xerox Series B Preferred Stock (the “Xerox Exchange” and such shares, the “Acquired Xerox Shares”). The transfers and deliveries of shares pursuant to this Section 2.01 are referred to collectively as the “Exchanges”.