BlackRock Share Repurchases Sample Clauses
The BlackRock Share Repurchases clause defines the terms and conditions under which BlackRock may buy back its own shares from the market or shareholders. Typically, this clause outlines the maximum number of shares that can be repurchased, the time frame for such transactions, and any restrictions or procedures that must be followed, such as board approval or compliance with regulatory requirements. By establishing clear guidelines for share repurchases, the clause helps ensure transparency, prevents market manipulation, and provides a mechanism for returning value to shareholders or managing the company's capital structure.
BlackRock Share Repurchases. If BlackRock engages in any share repurchase program or self-tender that has the effect of causing ▇▇▇▇▇▇▇ ▇▇▇▇▇’▇ Beneficial Ownership of BlackRock Capital Stock to exceed its Voting Ownership Cap or Total Ownership Cap, subject to any restrictions in the Exchange Act, ▇▇▇▇▇▇▇ ▇▇▇▇▇ shall, at the request of BlackRock, promptly sell such number of shares of BlackRock Capital Stock to BlackRock as shall cause its Beneficial Ownership of BlackRock Capital Stock not to exceed its Voting Ownership Cap or Total Ownership Cap.
BlackRock Share Repurchases. If BlackRock engages in any share repurchase program or self-tender that has the effect of causing ▇▇▇▇▇▇▇ ▇▇▇▇▇’▇ Beneficial Ownership of BlackRock Capital Stock to exceed its Voting Ownership Cap or Total Ownership Cap, subject to any restrictions in the Exchange Act, (a) in the event the Voting Ownership Cap is exceeded, BlackRock and ▇▇▇▇▇▇▇ ▇▇▇▇▇ shall each have the right, to cause the other to exchange a number of shares of BlackRock Common Stock for Series B Preferred Stock so that the amount of Voting Securities Beneficially Owned by ▇▇▇▇▇▇▇ ▇▇▇▇▇ and its Affiliates, following such exchange, shall be reduced to an amount representing not greater than the Voting Ownership Cap; and (b) in the event the Total Ownership Cap is exceeded, BlackRock and ▇▇▇▇▇▇▇ ▇▇▇▇▇ shall each have the right to make a written notice to the other to require BlackRock to purchase, and ▇▇▇▇▇▇▇ ▇▇▇▇▇ to sell, such number of shares of BlackRock Capital Stock as shall cause ▇▇▇▇▇▇▇ ▇▇▇▇▇’▇ Beneficial Ownership of BlackRock Capital Stock not to exceed the Total Ownership Cap. Notwithstanding anything in this Section 2.4 to the contrary, ▇▇▇▇▇▇▇ ▇▇▇▇▇ shall not be obligated to sell any shares of BlackRock Capital Stock pursuant to this Section 2.4 if such sale is capable of being exempted under Rule 16b-3 under the Exchange Act (or any successor rule), until BlackRock has taken all necessary action to exempt such sale thereunder.
BlackRock Share Repurchases. If BlackRock engages in any share repurchase program or self-tender that has the effect of causing the Beneficial Ownership of BlackRock Capital Stock by PNC and its Affiliates to exceed its Voting Ownership Cap or Total Ownership Cap, subject to any restrictions in the Exchange Act, PNC shall, at the request of BlackRock, promptly sell such number of shares of BlackRock Capital Stock to BlackRock as shall cause the Beneficial Ownership of BlackRock Capital Stock by PNC and its Affiliates not to exceed its Voting Ownership Cap or Total Ownership Cap; provided, that PNC shall be permitted to Beneficially Own not more than 49.9 percent of the Total Voting Power of the Voting Securities of BlackRock issued and outstanding if such increased Beneficial Ownership by PNC is solely due to share repurchases or self-tenders by BlackRock.
BlackRock Share Repurchases. If BlackRock engages in any share repurchase program or self-tender that has the effect of causing the Barclays Parties’ Beneficial Ownership of BlackRock Capital Stock to exceed the Voting Ownership Cap or the Total Ownership Cap, subject to any restrictions in the Exchange Act, (a) the Barclays Parties shall, at the written request of BlackRock, promptly sell such number of shares of BlackRock Capital Stock to BlackRock as shall cause the Barclays Parties’ Beneficial Ownership of BlackRock Capital Stock not to exceed the Voting Ownership Cap or the Total Ownership Cap; provided, however, that, subject to the Total Ownership Cap and in lieu of such sale, each Barclays Party shall have the right, exercisable in whole or in part, to exchange, or cause BlackRock to exchange, a number of shares of BlackRock Common Stock for Series B Preferred Stock so that the amount of Voting Securities Beneficially Owned by the Barclays Parties and their Affiliates, following such exchange, shall be reduced to an amount representing not greater than the Voting Ownership Cap; or (b) BlackRock shall, at the written request of any Barclays Party, promptly purchase such number of shares of BlackRock Capital Stock from such Barclays Party as shall cause the Barclays Parties’ Beneficial Ownership of BlackRock Capital Stock not to exceed the Voting Ownership Cap or the Total Ownership Cap. Notwithstanding anything in this Section 2.4 to the contrary, the Barclays Parties shall not be obligated to sell any shares of BlackRock Capital Stock pursuant to this Section 2.4 if such sale is capable of being exempted under Rule 16b-3 under the Exchange Act (or any successor rule), until BlackRock has taken all necessary action to exempt such sale thereunder.