Parent Stock definition
Examples of Parent Stock in a sentence
Upon receipt of such written notice, US Parent shall take all actions and do all such things as reasonably necessary or desirable to enable and permit CallCo, to deliver US Parent Stock to the holders of the Exchangeable Shares in accordance with the Exchangeable Share Provisions.
US Parent hereby represents, warrants and covenants that the US Parent Stock (as well as all shares of US Parent Trust Stock) deliverable as described herein are or will be duly authorized and validly issued as fully paid and non-assessable and shall be free and clear of any lien, claim or encumbrance.
Upon such payment or deposit of the Redemption Price, the holders of the Exchangeable Shares shall thereafter be considered and deemed for all purposes to be holders of the US Parent Stock delivered to them or the custodian on their behalf.
A holder of an Exchangeable Share shall not be entitled to any fraction of a US Parent Stock upon the exercise of the Exchange Right or Automatic Exchange Right hereunder and no certificates or book-entry evidence representing any such fractional interest shall be issued and no consideration shall be paid for any fractional share not issued.
Any such sale of US Parent Stock shall be affected on a public market and shall occur as soon as practicable.