ZixIt definition
ZixIt means the surviving entity or purchaser of the assets, as applicable. Subject to the foregoing and the following provisions of this Paragraph 2, if a Sale Transaction occurs and ZixIt and its shareholders and affiliates immediately before such transaction beneficially own, immediately after or as a result of such transaction, equity securities of the surviving or acquiring corporation or such corporation's parent corporation possessing less than a majority of the voting power of the surviving or acquiring person or such person's parent corporation, then Selling Shareholder and Buyer shall be entitled, by giving written notice to the other, to require that the ZixIt Stock deliverable on the First Anniversary Date and the Second Anniversary Date be delivered immediately prior to the consummation of the Sale Transaction. If given by Selling Shareholder, such notice must be given to Buyer within ten business days of receipt of notice from Buyer advising Selling Shareholder of the transaction in question. If given by Buyer, such notice must be given to Selling Shareholder within a reasonable time prior to the consummation of the merger or consolidation.