PCS Stock definition
Examples of PCS Stock in a sentence
Without limiting the foregoing, the issuance of MCI WorldCom Rights pursuant to the MCI WorldCom Rights Agreement in respect of each share of MCI WorldCom PCS Stock shall not cause, or result in, any adjustment pursuant to this Section 4.2(b).
In the event the market price of the PCS Stock is less then $0.90, at the time of conversion, the conditions under which PCS shall have the right to call for the conversion of the ▇▇▇▇▇▇▇ Debt shall be mutually agreed upon by the parties, in accordance with all applicable federal securities laws, and set forth in the Definitive Agreement.
The Series FT Merger Consideration, the Series DT Merger Consideration, the FON Stock Merger Consideration, the PCS Stock Merger Consideration and the Preferred Stock Merger Consideration are referred to herein collectively as the "Merger Consideration".
Sprint and MCI WorldCom and their respective Subsidiaries shall treat the MCI WorldCom Common Stock, MCI WorldCom PCS Stock, MCI WorldCom Series FT Common Stock, MCI WorldCom Series DT Common Stock, MCI WorldCom Series 2 Common Stock and MCI WorldCom Series 3 Common Stock (together, the "MCI WorldCom Relevant Stock") received in the Merger by holders of Sprint Common Stock as property permitted to be received under Section 354 of the Code without the recognition of gain.
If after the date hereof all outstanding shares of Class A Stock shall have been converted into Non-Class A Common Stock pursuant to the Class A Provisions, each share of Series 3 PCS Stock to have been issued by Sprint pursuant to this Agreement shall instead be issued as one duly issued, fully paid and nonassessable share of Series 1 PCS Stock.
On a monthly basis, ▇▇▇▇▇▇▇ shall convert a portion of the ▇▇▇▇▇▇▇ Debt to PCS Stock in an amount not to exceed the ▇▇▇▇▇▇▇ Monthly Payments, including the aforementioned interest; absent ▇▇▇▇▇▇▇’▇ conversion as set forth above, PCS shall have a “right to call” for the conversion of ▇▇▇▇▇▇▇ Debt in an amount not to exceed the ▇▇▇▇▇▇▇ Monthly Payments.
PCS shall “hold back” from the Purchase Price payable at Closing and shall deposit in an escrow account with an independent financial institution (the “Holdback Account”) that number of shares of PCS Stock (valued as provided in Paragraph F.1(iii)) equal to $200,000, the maximum number of shares of PCS Stock to be held in escrow would equal 222,222.
Any shares of PCS Stock remaining in the Holdback Account after exercise of its offset right by PCS shall be distributed to the Company.
The number of shares of Series 3 PCS Stock to be purchased by the Buyers hereunder and the purchase price therefor shall be adjusted to reflect any stock split, subdivision, stock dividend, or other reclassification, consolidation or a combination of the Voting Securities of Sprint or similar action or transaction after the date hereof, provided that no adjustment shall be made under this Section 1.6 in respect of the Recapitalization.
Sprint proposes to complete, during 2001, in accordance with the terms of this Agreement, an underwritten public offering of newly issued shares of PCS Stock (the first such offering completed by Sprint in 2001 is referred to as the "PCS Offering").