The External Distribution. (a) Subject to Section 3.3, at or prior to the Effective Time, SpinCo will deliver to the Agent, for the benefit of the Record Holders, book-entry transfer authorizations for such number of the outstanding SpinCo Shares as is necessary to effect the External Distribution, and shall cause the transfer agent for the Parent Shares to instruct the Agent to distribute at the Effective Time the appropriate number of SpinCo Shares to each such holder or designated transferee or transferees of such holder by way of direct registration in book-entry form. SpinCo will not issue paper stock certificates in respect of the SpinCo Shares. The External Distribution shall be effective at the Effective Time.
Appears in 4 contracts
Samples: Separation and Distribution Agreement (Equitrans Midstream Corp), Separation and Distribution Agreement (Equitrans Midstream Corp), Separation and Distribution Agreement (Equitrans Midstream Corp)
