Common use of Investment of Exchange Fund Clause in Contracts

Investment of Exchange Fund. The Paying Agent shall invest any cash included in the Exchange Fund, as directed by the Surviving Corporation, on a daily basis. Any interest and other income resulting from such investments shall be paid to Parent. To the extent that there are losses with respect to such investments, or the Exchange Fund diminishes for other reasons below the level required to make prompt payments of the Merger Consideration as contemplated hereby, Parent shall promptly replace or restore the portion of the Exchange Fund lost through investments or other events so as to ensure that the Exchange Fund is, at all times, maintained at a level sufficient to make such payments.

Appears in 3 contracts

Samples: Agreement and Plan of Merger (Geo Group Inc), Agreement and Plan of Merger (CentraCore Properties Trust), Agreement and Plan of Merger (CRT Properties Inc)

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Investment of Exchange Fund. The Paying Agent shall invest any the cash included in the Exchange Fund, as directed by the Surviving CorporationParent, on a daily basis. Any net profit resulting from, or interest and other or income resulting from produced by, such investments shall be paid to Parentplaced in the Exchange Fund. To the extent that there are losses with respect to such investments, or the Exchange Fund diminishes for other reasons below the level required to make prompt payments of the Merger Consideration as contemplated hereby, Parent shall promptly replace or restore the portion of the Exchange Fund lost through investments or other events so as to ensure that the Exchange Fund is, at all times, maintained at a level sufficient to make all such paymentspayments in full.

Appears in 3 contracts

Samples: Agreement and Plan of Merger (Eop Operating LTD Partnership), Agreement and Plan of Merger (Eop Operating LTD Partnership), Agreement and Plan of Merger (Carramerica Realty Operating Partnership Lp)

Investment of Exchange Fund. The Paying Exchange Agent shall invest any cash included in the Exchange Fund, Fund as directed by the Surviving Corporation, on a daily basisCorporation or Parent. Any net profit resulting from, or interest and other or income resulting from produced by, such investments shall be paid payable to Parent. To the extent that there are losses with respect to such investments, or the Exchange Fund diminishes for other reasons below the level required to make prompt payments of the Merger Cash Consideration as contemplated hereby, Parent shall promptly replace or restore the portion of the Exchange Fund lost through investments or other events so as to ensure that the Exchange Fund is, at all times, maintained at a level sufficient to make such payments.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Audience Inc), Agreement and Plan of Merger (Knowles Corp)

Investment of Exchange Fund. The Paying Agent shall invest any the cash included deposited in the Exchange Fund, as directed by the Surviving CorporationParent, on a daily basis. Any net profit resulting from, or interest and other or income resulting from produced by, such investments shall be placed in the Exchange Fund and shall be paid to Parentthe Surviving Corporation. To the extent that there are losses with respect to such investments, or the Exchange Fund diminishes for other reasons below the level required to make prompt payments of the Merger Consideration as contemplated hereby, Parent shall promptly replace or restore the portion of the Exchange Fund lost through investments or other events so as to ensure that the Exchange Fund is, at all times, maintained at a level sufficient to make all such paymentspayments in full.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Trustreet Properties Inc), Agreement and Plan of Merger (Trustreet Properties Inc)

Investment of Exchange Fund. The Paying Agent shall invest any the cash included in the Exchange Fund, as directed by the Surviving CorporationParent, on a daily basis. Any net profit resulting from, or interest and other or income resulting from produced by, such investments shall be paid to Parentplaced in the Exchange Fund. To the extent that there are losses with respect to such investments, or the Exchange Fund diminishes for other reasons below the level required to make prompt payments of the Merger Cash Consideration as contemplated hereby, Parent shall promptly replace or restore the portion of the Exchange Fund lost through investments or other events so as to ensure that the Exchange Fund is, at all times, maintained at a level sufficient to make all such paymentspayments in full.

Appears in 2 contracts

Samples: Agreement and Plan of Merger, Agreement and Plan of Merger (Archstone Smith Trust)

Investment of Exchange Fund. The Paying Agent shall invest any cash included in the Exchange Fund, as directed by the Surviving CorporationREIT, on a daily basis. Any interest and other income resulting from such investments shall be paid to Parent. To the extent that there are losses with respect to such investments, or the Exchange Fund diminishes for other reasons below the level required to make prompt payments of the Company Common Share Merger Consideration and Partnership Merger Consideration as contemplated hereby, Parent shall promptly replace or restore the portion of the Exchange Fund lost through investments or other events so as to ensure that the Exchange Fund is, at all times, maintained at a level sufficient to make such payments.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Capital Automotive Reit)

Investment of Exchange Fund. The Paying Agent shall invest any the cash included in the Exchange Fund, as directed by the Surviving CorporationParent, on a daily basis. Any net profit resulting from, or interest and other or income resulting from produced by, such investments shall be paid to Parentplaced in the Exchange Fund. To the extent that there are losses with respect to such investments, or the Exchange Fund diminishes for other reasons below the level required to make prompt payments of the Company Common Share Merger Consideration and Partnership Merger Consideration as contemplated hereby, Parent shall promptly replace or restore the portion of the Exchange Fund lost through investments or other events so as to ensure that the Exchange Fund is, at all times, maintained at a level sufficient to make all such paymentspayments in full.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Home Properties Inc)

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Investment of Exchange Fund. The Paying Agent shall invest any the cash included in the Exchange Fund, as directed by the Surviving CorporationXxxxxx, on a daily basis. Any net profit resulting from, or interest and other or income resulting from produced by, such investments shall be paid to Parentplaced in the Exchange Fund. To the extent that there are losses with respect to such investments, or the Exchange Fund diminishes for other reasons below the level required to make prompt payments of the Merger Cash Consideration as contemplated hereby, Parent shall promptly replace or restore the portion of the Exchange Fund lost through investments or other events so as to ensure that the Exchange Fund is, at all times, maintained at a level sufficient to make all such paymentspayments in full.

Appears in 1 contract

Samples: Agreement and Plan of Merger

Investment of Exchange Fund. The Paying Exchange Agent shall invest any cash included in the Exchange Fund, as directed by the Surviving Corporation, on a daily basis. Any interest and other income resulting from such investments shall be paid to Parent. To the extent that there are losses with respect to such investments, or the Exchange Fund diminishes for other reasons below the level required to make prompt payments of the Merger Consideration to all of the holders of Company Common Stock as contemplated hereby, Parent shall promptly replace or restore the portion of the Exchange Fund lost through investments or other events so as to ensure that the Exchange Fund is, at all times, maintained at a level sufficient to make such payments.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Palmsource Inc)

Investment of Exchange Fund. The Paying Agent shall invest any the cash included in the Exchange Fund, as directed by the Surviving CorporationParent, on a daily basis. Any net profit resulting from, or interest and other or income resulting from produced by, such investments shall be paid to Parentplaced in the Exchange Fund. To the extent that there are losses with respect to such investments, or the Exchange Fund diminishes for other reasons below the level required to make prompt payments of the applicable Merger Consideration as contemplated hereby, Parent shall promptly replace or restore the portion of the Exchange Fund lost through investments or other events so as to ensure that the Exchange Fund is, at all times, maintained at a level sufficient to make all such paymentspayments in full.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Highland Hospitality Corp)

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