Common use of Cash for Fractional Shares Clause in Contracts

Cash for Fractional Shares. To sell, in the principal market therefor, on the Exchange Date, a number of Shares equal to the aggregate number of fractional Shares determined pursuant to clause (i) (B) above, rounded down to the nearest integral number; and to determine the difference between (A) the aggregate proceeds of such sale (net of any brokerage or related expenses) and (B) the product of the number of Shares so sold and the Average Market Price; and, in accordance with the Indemnity Agreement, to pay such difference, if positive, to Goldxxx, Xxchx & Xo., or to request payment of such difference, if negative, from Goldxxx, Xxchs & Co.;

Appears in 2 contracts

Samples: Trust Agreement (Fourth Automatic Common Exchange Security Trust), Trust Agreement (CVS Automatic Common Exchange Security Trust)

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Cash for Fractional Shares. To sell, in the principal market therefor, on the Exchange Date, a number of Shares equal to the aggregate number of fractional Shares determined pursuant to clause (i) (B) above, rounded down to the nearest integral number; and to determine the difference between (A) the aggregate proceeds of such sale (net of any brokerage or related expenses) and (B) the product of the number of Shares so sold and the Average Current Market Price; and, in accordance with the Indemnity Agreement, to pay such difference, if positive, to Goldxxx, Xxchx & Xo., or to request payment of such difference, if negative, from Goldxxx, Xxchs & Co.;

Appears in 1 contract

Samples: Trust Agreement (Second Automatic Common Exchange Security Trust)

Cash for Fractional Shares. To sell, in the principal market therefor, on the Exchange Date, a number of Shares equal to the aggregate number of fractional Shares determined pursuant to clause (i) (B) above, rounded down to the nearest integral number; and to determine the difference between (A) the aggregate proceeds of such sale (net of any brokerage or related expenses) and (B) the product of the number of Shares so sold and the Average Current Market Price; and, in accordance with the Indemnity Agreement, to pay such difference, if positive, to Goldxxx, Xxchx & Xo., or to request payment of such difference, if negative, from Goldxxx, Xxchs Sachs & Co.;

Appears in 1 contract

Samples: Trust Agreement (Automatic Common Exchange Security Trust Ii)

Cash for Fractional Shares. To sell, in the principal market therefor, on the Exchange Date, a number of Shares equal to the aggregate number of fractional Shares determined pursuant to clause (i) (B) above, rounded down to the nearest integral number; and to determine the difference between (A) the aggregate proceeds of such sale (net of any brokerage or related expenses) and (B) the product of the number of Shares so sold and the Average Market Price; and, in accordance with the Indemnity Agreement, to pay such difference, if positive, to GoldxxxXxxxxxx, Xxchx Xxxxx & Xo.Co., or to request payment of such difference, if negative, from GoldxxxXxxxxxx, Xxchs Sachs & Co.;

Appears in 1 contract

Samples: Trust Agreement (Third Automatic Common Exchange Security Trust)

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Cash for Fractional Shares. To sell, in the principal market therefor, on the Exchange Date, a number of Shares equal to the aggregate number of fractional Shares determined pursuant to clause (i) (B) above, rounded down to the nearest integral number; and to determine the difference between (A) the aggregate proceeds of such sale (net of any brokerage or related expenses) and (B) the product of the number of Shares so sold and the Average Market Price; and, in accordance with the Indemnity Agreement, to pay such difference, if positive, to GoldxxxXxxxxxx, Xxchx Sachs & Xo.Co., or to request payment of such difference, if negative, from GoldxxxXxxxxxx, Xxchs Xxxxx & Co.;

Appears in 1 contract

Samples: Trust Agreement (Estee Lauder Automatic Common Exchange Security Trust)

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