Stapled Unit definition
Examples of Stapled Unit in a sentence
Except as expressly provided in this Plan of Arrangement and in this section 4.4, no CN Exchangeable Share shall be or shall be capable of being issued, transferred, transmitted or otherwise alienated or disposed of separately from and otherwise than as part of a CN Stapled Unit comprised of an equal number of CN Voting Shares and CN Exchangeable Shares.
Each Newco Replacement Option shall provide for an exercise price per Newco Stapled Unit equal to the exercise price per BNSF Common Share of the BNSF Option from which it was converted.
If only a part of the CN Exchangeable Shares represented by any CN Stapled Unit certificate or certificates delivered to the Trustee are to be purchased by Newco under the Exchange Right, a new certificate for the balance of such CN Stapled Units shall be issued to the holder at the expense of CN.
The purchase price for each such CN Exchangeable Share so purchased may be satisfied only by Newco issuing to the relevant Beneficiary, one Newco Common Share and delivering or causing to be delivered to the relevant Beneficiary a Newco Stapled Unit certificate representing same (as well as the CN Voting Shares retained by such Beneficiary) and on the applicable payment date a cheque for the balance, if any, of the purchase price without interest (but less any amounts withheld pursuant to section 5.13).
A CN Stapled Unit certificate or a Newco Stapled Unit certificate, as applicable, shall be the security certificate, and the only security certificate, that a holder of CN Voting Shares shall be entitled to receive in respect of his or her holding of CN Voting Shares pursuant to the CBCA or otherwise.