Common use of Consideration for the Commitment Clause in Contracts

Consideration for the Commitment. In consideration for the Commitment, on the Effective Date at the Closing the Standby Purchaser will receive its pro rata share of Arch Warrants entitling the holders thereof to purchase, in the aggregate, a number of shares of Existing Arch Common Stock equal to 2.50% of the issued and outstanding shares of Existing Arch Common Stock and, if applicable, Arch Class B Common Stock, computed on a Fully Diluted Basis (as defined in the Plan) on the date the "Buyer Market Price" is determined in accordance with Schedule II to the Merger Agreement giving effect to the Plan as if the Effective Date had occurred on such date and assuming 21,067,110 shares of Existing Arch Common Stock are issued and outstanding immediately prior thereto. Such Arch Warrants will be delivered to the Standby Purchaser and the Other Standby Purchasers, in accordance with the percentages specified in Column D of Annex I hereto.

Appears in 1 contract

Sources: Merger Agreement (Mobilemedia Corp)

Consideration for the Commitment. In consideration for the -------------------------------- Commitment, on the Effective Date at the Closing the Standby Purchaser will receive its pro rata share of Arch Warrants entitling the holders thereof to purchase, in the aggregate, a number of shares of Existing Arch Common Stock equal to 2.50% of the issued and outstanding shares of Existing Arch Common Stock and, if applicable, Arch Class B Common Stock, computed on a Fully Diluted Basis (as defined in the Plan) on the date the "Buyer Market Price" is determined in accordance with Schedule II to the Merger Agreement giving effect to the Plan as if the Effective Date had occurred on such date and assuming 21,067,110 shares of Existing Arch Common Stock are issued and outstanding immediately prior thereto. Such Arch Warrants will be delivered to the Standby Purchaser and the Other Standby Purchasers, in accordance with the percentages specified in Column D of Annex I hereto.. -----

Appears in 1 contract

Sources: Commitment to Purchase Stock and Warrants (Arch Communications Group Inc /De/)