Wabtec definition
Examples of Wabtec in a sentence
Funding for the EAP will be obtained from Wabtec Foundry Limited on a scale of $0.01 per hour for every hour worked by a bargaining unit employee, payable to Local 251 on a quarterly basis.
In addition, Global continues to have indemnification obligations to Wabtec Corporation pursuant to the Wabtec Sale Agreement in respect of certain tax, environmental and operational matters.
Thereafter, the Preferred Stock will be freely transferable, subject to any applicable securities laws, and upon any proposed transfer to any holder other than GE or a subsidiary thereof, such transfer shall be subject to the written consent of Wabtec (which consent shall not be unreasonably withheld, conditioned or delayed).
The conversion rate will be proportionally adjusted in the event of any share split or combination in respect of the Wabtec Common Stock or any issuance of Wabtec Common Stock as a dividend or distribution on Wabtec Common Stock.
Conversion Shares (or fractional interests therein) of Wabtec Preferred Stock will be automatically converted into the right to receive Wabtec Common Stock upon the (i) sale or other transfer (excluding any bona fide pledge) of such shares (or fractional interests therein) to third parties who are not affiliates of GE, (ii) pro rata distribution to holders of GE common stock or (iii) exchange in an exchange offer with holders of GE common stock by GE of the Wabtec Preferred Stock.
Except as set forth in the immediately preceding sentence, no dividends will be paid on the Wabtec Preferred Stock.
Priority The Wabtec Preferred Stock will rank senior to the Wabtec Common Stock and to all other classes or series of equity securities of Wabtec with respect to all rights upon a liquidation, dissolution or winding up (a “Liquidation”).
Certain Events Each holder of Wabtec Preferred Stock will be entitled to (i) participate in any tender or exchange offer for shares of Wabtec Common Stock made by Wabtec or its subsidiaries and (ii) exercise any rights, options or warrants received pursuant to “Dividends and Distributions” above, in each case, as if such holder held the number of shares of Wabtec Common Stock into which such holder’s shares of Wabtec Preferred Stock are convertible.
Transfer Restrictions The Wabtec Preferred Stock will be transferrable, subject to the requirements and restrictions set forth in the Shareholders Agreement.
Claims under the Wabtec Sale Agreement can be made until the earliest of the third anniversary of the closing of the G&B and ▇▇▇▇-▇▇▇▇▇▇▇ sales and the completion of the wind up of Global.