Failure of Purchase. In the event (A) the Subscribing Entity fails to exercise its Subscription Right provided in this Section 5.9 within said three Business Day period or, (B) if so exercised, the Subscribing Entity fails or is unable to consummate such purchase within the 180 day period specified in Section 5.9(a)(iii), without prejudice to other remedies, the Company shall thereafter be entitled during the Additional Sale Period to sell the Proposed Securities not elected to be purchased pursuant to this Section 5.9 or which the Subscribing Entity fails to, or is unable to, purchase, at a price and upon terms no more favorable in any material respect to the purchasers of such securities than were specified in the Company’s notice to Purchaser. In the event the Company has not sold the Proposed Securities within the Additional Sale Period, the Company shall not thereafter offer, issue or sell such Proposed Securities without first offering such securities to Purchaser in the manner provided above.
Appears in 7 contracts
Samples: Escrow Agreement (General Growth Properties Inc), Non Control Agreement (Pershing Square Capital Management, L.P.), Stock Purchase Agreement (Pershing Square Capital Management, L.P.)
Failure of Purchase. In the event (A) the Subscribing Entity applicable member of the Purchaser Group fails to exercise its Subscription Right provided in this Section 5.9 within said three Business Day period orperiod, or (B) if so exercised, such member of the Subscribing Entity Purchaser Group fails or is unable to consummate such purchase within the 180 day period specified in Section 5.9(a)(iii), without prejudice to other remedies, the Company shall thereafter be entitled during the Additional Sale Period to sell the Proposed Securities not elected to be purchased pursuant to this Section 5.9 or which the Subscribing Entity applicable member of the Purchaser Group fails to, to or is unable to, to purchase, at a price and upon terms no more favorable in any material respect to the purchasers of such securities than were specified in the Company’s notice to each Purchaser. In the event the Company has not sold the Proposed Securities within the Additional Sale Period, the Company shall not thereafter offer, issue or sell such Proposed Securities without first offering such securities to the members of the Purchaser Group in the manner provided above.
Appears in 7 contracts
Samples: Stock Purchase Agreement (Pershing Square Capital Management, L.P.), Non Control Agreement (General Growth Properties Inc), Stock Purchase Agreement (Pershing Square Capital Management, L.P.)
Failure of Purchase. In the event (A) the Subscribing Entity applicable member of the Purchaser Group fails to exercise its Subscription Right provided in this Section 5.9 1 within said three (3) Business Day period orperiod, or (B) if so exercised, such member of the Subscribing Entity Purchaser Group fails or is unable to consummate such purchase within the 180 one hundred eighty (180) day period specified in Section 5.9(a)(iii1(iii), without prejudice to other remedies, the Company THHC shall thereafter be entitled during the Additional Sale Period to sell the Proposed Securities not elected to be purchased pursuant to this Section 5.9 1 or which the Subscribing Entity applicable member of the Purchaser Group fails to, or is unable to, purchase, at a price and upon terms no more favorable in any material respect to the purchasers of such securities than were specified in the CompanyTHHC’s notice to each Purchaser. In the event the Company THHC has not sold the Proposed Securities within the Additional Sale Period, the Company THHC shall not thereafter offer, issue or sell such Proposed Securities without first offering such securities to the members of the Purchaser Group in the manner provided above.
Appears in 4 contracts
Samples: Stock Purchase Agreement (Howard Hughes Corp), Stock Purchase Agreement (Howard Hughes Corp), Stock Purchase Agreement (Pershing Square Capital Management, L.P.)
Failure of Purchase. In the event (A) the Subscribing Entity a Purchaser fails to exercise its Subscription Right provided in this Section 5.9 within said three Business Day period orperiod, or (B) if so exercised, the Subscribing Entity a Purchaser fails or is unable to consummate such purchase within the 180 day period specified in Section 5.9(a)(iii), without prejudice to other remedies, the Company shall thereafter be entitled during the Additional Sale Period to sell the Proposed Securities not elected to be purchased pursuant to this Section 5.9 or which the Subscribing Entity such Purchaser fails to, to or is unable to, to purchase, at a price and upon terms no more favorable in any material respect to the purchasers of such securities than were specified in the Company’s notice to such Purchaser. In the event the Company has not sold the Proposed Securities within the Additional Sale Period, the Company shall not thereafter offer, issue or sell such Proposed Securities without first offering such securities to the applicable Purchaser in the manner provided above.
Appears in 3 contracts
Samples: Non Control Agreement (General Growth Properties Inc), Warrant and Registration Rights Agreement (General Growth Properties Inc), Stock Purchase Agreement (General Growth Properties, Inc.)
