Common use of Issuance of transferable rights or warrants Clause in Contracts

Issuance of transferable rights or warrants. If the Underlying Company issues transferable rights or warrants to all holders of the Common Stock to subscribe for or purchase the Common Stock, including new or existing rights to purchase the Common Stock pursuant to a shareholder’s rights plan or arrangement, then the Starting Value will be adjusted on the Business Day immediately following the issuance of such transferable rights or warrants so that the new Starting Value shall equal the prior Starting Value plus the product of: · the prior Starting Value, and · the number of shares of the Common Stock that can be purchased with the cash value of such warrants or rights distributed on one share of the Common Stock. The number of shares that can be purchased will be based on the closing market price of the Common Stock on the date the new Starting Value is determined. The cash value of such warrants or rights, if the warrants or rights are traded on a national securities exchange, will equal the closing price of such warrant or right, or, if the warrants or rights are not traded on a national securities exchange, will be determined by the calculation agent and will equal the average (mean) of the bid prices obtained from three dealers at 3 p.m. on the date the new Starting Value is determined, provided that if only two such bid prices are available, then the cash value of such warrants or rights will equal the average (mean) of such bids and if only one such bid is available, then the cash value of such warrants or rights will equal such bid. Reorganization Events If prior to the maturity date of the Notes,

Appears in 2 contracts

Samples: Merrill Lynch & Co Inc, Merrill Lynch & Co Inc

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Issuance of transferable rights or warrants. If the Underlying Company issues transferable rights or warrants to all holders of record of the Common Underlying Stock to subscribe for or purchase the Common Underlying Stock, including new or existing rights to purchase the Common Underlying Stock pursuant to a shareholder’s rights plan or arrangement, then the Starting Value will Price Multiplier shall be adjusted on the Banking Business Day immediately following the issuance of such those transferable rights or warrants so that the new Starting Value Price Multiplier shall equal the prior Starting Value Price Multiplier plus the product of: · the prior Starting Value, Price Multiplier; and · the number of shares of the Common Underlying Stock that can be purchased with the cash value of such those warrants or rights distributed on one share of the Common Underlying Stock. The number of shares that can be purchased will shall be based on the closing market price Closing Market Price of the Common Underlying Stock on the date the new Starting Value Price Multiplier is determined. The cash value of such those warrants or rights, if the warrants or rights are traded on a registered national securities exchange, will shall equal the closing price of such that warrant or right, or, if the warrants or rights are not traded on a registered national securities exchange, will shall be determined by the calculation agent Calculation Agent and will shall equal the average (mean) of the bid prices obtained from three dealers at 3 p.m. 3:00 p.m., New York time on the date the new Starting Value Price Multiplier is determined, provided that if only two such of those bid prices are available, then the cash value of such those warrants or rights will shall equal the average (mean) of such those bids and if only one such bid of those bids is available, then the cash value of such those warrants or rights will shall equal such that bid. Reorganization Events If prior to the maturity date of the Notes,.

Appears in 2 contracts

Samples: Merrill Lynch & Co Inc, Merrill Lynch & Co Inc

Issuance of transferable rights or warrants. If the Underlying Company issues transferable rights or warrants to all holders of the Common Stock to subscribe for or purchase the Common Stock, including new or existing rights to purchase the Common Stock pursuant to a shareholder’s rights plan or arrangement, then the Starting Value will be adjusted on the Business Day immediately following the issuance of such transferable rights or warrants so that the new Starting Value shall equal the prior Starting Value plus the product of: · the prior Starting Value, and · the number of shares of the Common Stock that can be purchased with the cash value of such warrants or rights distributed on one share of the Common Stock. The number of shares that can be purchased will be based on the closing market price Closing Market Price of the Common Stock on the date the new Starting Value is determined. The cash value of such warrants or rights, if the warrants or rights are traded on a national securities exchange, will equal the closing price of such warrant or right, or, if the warrants or rights are not traded on a national securities exchange, will be determined by the calculation agent Calculation Agent and will equal the average (mean) of the bid prices obtained from three dealers at 3 p.m. on the date the new Starting Value is determined, provided that if only two such bid prices are available, then the cash value of such warrants or rights will equal the average (mean) of such bids and if only one such bid is available, then the cash value of such warrants or rights will equal such bid. Reorganization Events If prior to the maturity date of the Notes,

Appears in 1 contract

Samples: Merrill Lynch & Co Inc

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Issuance of transferable rights or warrants. If the Underlying Company issues transferable rights or warrants to all holders of the Common Stock to subscribe for or purchase the Common Stock, including new or existing rights to purchase the Common Stock pursuant to a shareholder’s rights plan or arrangement, then the Starting Value will be adjusted on the Business Day immediately following the issuance of such transferable rights or warrants so that the new Starting Value shall equal the prior Starting Value plus the product of: · Ÿ the prior Starting Value, and · Ÿ the number of shares of the Common Stock that can be purchased with the cash value of such warrants or rights distributed on one share of the Common Stock. The number of shares that can be purchased will be based on the closing market price of the Common Stock on the date the new Starting Value is determined. The cash value of such warrants or rights, if the warrants or rights are traded on a national securities exchange, will equal the closing price of such warrant or right, or, if the warrants or rights are not traded on a national securities exchange, will be determined by the calculation agent Calculation Agent and will equal the average (mean) of the bid prices obtained from three dealers at 3 p.m. on the date the new Starting Value is determined, provided that if only two such bid prices are available, then the cash value of such warrants or rights will equal the average (mean) of such bids and if only one such bid is available, then the cash value of such warrants or rights will equal such bid. Reorganization Events If prior to the maturity date of the Notes,

Appears in 1 contract

Samples: Merrill Lynch & Co Inc

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