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Simple English definitions for legal terms

antidestruction clause

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A quick definition of antidestruction clause:

An antidestruction clause is a rule that protects a shareholder's ability to convert their securities into new ones if the company they invested in merges with another company. This means that the shareholder can still keep their investment even if the company changes. Securities are things that show a person's ownership or creditor relationship with a company, like stocks or bonds. They don't have value on their own, but represent something else. The value of a security depends on how well the company is doing or how much people are willing to pay for it.

A more thorough explanation:

An antidestruction clause is a provision in a security that protects a shareholder's conversion rights in the event of a merger. It grants the shareholder the right to convert their securities into the securities that will replace the company's stock when the merger is complete.

For example, let's say Company A merges with Company B. If a shareholder of Company A has an antidestruction clause in their security, they have the right to convert their securities into the securities of the new merged company, instead of losing their investment.

Antidestruction clauses are important for shareholders because they provide a safeguard against losing their investment in the event of a merger or acquisition. It ensures that they have the option to convert their securities into the new company's securities, which may have a different value or structure than the original securities.

antidestructibility statute | antidilution act

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1a2b3c4d26z
10:06
Man
1a2b3c4d26z
10:07
Walkin to the bus
1a2b3c4d26z
10:07
What a good day to get into law school
ClassyPleasantHeron
10:11
@soapy: I don't know for sure about the law school. For undergrad, once the application is complete, it's assigned to a reader the following Monday. If we had to make any changes, it's because a reader saw something that needed to be changed and the application needed to be re-read after that change.
soapy
10:12
Ahh, got it. Thank you for the insight!
ClassyPleasantHeron
10:14
You're welcome. FWIW, I have no idea what's up with the address changes. We didn't have to do any of that, except for the Georgia state vs country kinds of things.
soapy
10:15
I've heard it theorized that some schools will change the address from "St." --> "Street" as they prepare to send out admissions packets. That's the rumor, anyways.
i think it just indicates a change in status like under review or stages of review
my stanford address went long as soon as it was marked complete lmao
soapy
10:25
I saw some Reddit adcom say that they can see any time we refresh the status checker; I wonder if it's a red flag if an applicant's checked it like 50 times in a day?
soapy
10:25
Also, can we send another LoR to a school that we've already applied to?
soapy
10:26
Or another essay?
10:30
i'll allow it
soapy
10:31
<3 thanks Fart Butt
1a2b3c4d26z
10:31
If I get rejected by a school bc I check my statuses during work then it wasn’t meant to be
10:32
cautionary tail re reddit posts: https://www.youtube.com/watch?v=5jZAQAuqSfs
How else will they know we fuck
Need to know aboot 6 pack abs
How many 666 people apply?
lolololol
soapy
10:34
Ah that's frightening
@triplethread
Why? LOL
soapy
10:35
The adcoms recognize you and will deny you is frightening, lmaoo. Not the abs thing XD
10:36
they browse LSD?
soapy
10:37
Wouldn't be shocked if so; isn't this the biggest law school forum outside of Reddit?
10:37
i gotta change my username
10:37
not sure, the vid i sent used reddit as an example, however i guarantee they [adcoms] are aware of this site
They are probably mods on some of them too!
LSD+ is ad-free, with DMs, discounts, case briefs & more.