Examples of Acceptance Time in a sentence
Purchaser’s obligation to accept for payment and pay for Shares validly tendered and not validly withdrawn pursuant to the Offer is subject only to the satisfaction or waiver of the Offer Conditions described in Section 15 — “Conditions to the Offer.” Purchaser will, as promptly as practicable (and in any event within two business days) after the Offer Acceptance Time, pay for all Shares validly tendered and not validly withdrawn pursuant to the Offer.
Pursuant to the terms of the Merger Agreement, the Shares were tendered and disposed of at the Offer Acceptance Time (as defined in the Merger Agreement) in exchange for the right to receive the $62.50 per Share in cash, without interest, subject to any applicable withholding of taxes (the "Cash Amount").
These options to purchase common stock, par value$0.01, of the Issuer (the "Common Stock") vested on May 3, 2011 (the "Acceptance Time"), which is the date that a majority of the outstanding shares of the Issuer, as determined on a fully diluted basis, were accepted for payment by the Purchaser pursuant and subject to the terms described in the Offer to Purchase for Cash filed with the Securities and Exchange Commission on March 28, 2011 (the "Tender Offer") and the Merger Agreement.
If the Offer is consummated, subject to the satisfaction or waiver of the conditions to the obligations of Parent and Purchaser to effect the Merger contained in the Merger Agreement, Purchaser intends to consummate the Merger as soon as practicable following the Offer Acceptance Time.
We expect to consummate the Merger as soon as practicable following the Offer Acceptance Time and, if the Merger takes place, SCTL will no longer be publicly traded.