Common use of Limit on Beneficial Ownership Clause in Contracts

Limit on Beneficial Ownership. Notwithstanding any other provisions hereof, Dealer may not exercise any Warrant hereunder, Automatic Exercise shall not apply with respect thereto, and no delivery hereunder (including pursuant to provisions opposite the headings “Alternative Calculations and Counterparty Payments on Early Termination and on Certain Extraordinary Events,” “Registration/Private Placement Procedures,” “Limitation on Delivery of Shares” or Annex A) shall be made, to the extent (but only to the extent) that the receipt of any Shares upon such exercise or delivery (after taking into account any Shares deliverable pursuant to the Confirmation re: Base Warrant Transaction dated May 10, 2012 between Dealer and Counterparty (the “Base Warrant Confirmation”)) would result in the existence of an Excess Ownership Position as set forth in clause (1) or (3) of the definition thereof. Any purported delivery hereunder shall be void and have no effect to the extent (but only to the extent) that such delivery would result in the existence of such an Excess Ownership Position. If any delivery owed to Dealer or exercise hereunder is not made, in whole or in part, as a result of this provision, Counterparty’s obligation to make such delivery and Dealer’s right to exercise a Warrant shall not be extinguished and Counterparty shall make such delivery as promptly as practicable after, but in no event later than one Clearance System Business Day after, Dealer gives notice to Counterparty that such exercise or delivery would not result in the existence of such an Excess Ownership Position.

Appears in 2 contracts

Samples: Medicis Pharmaceutical Corp, Medicis Pharmaceutical Corp

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Limit on Beneficial Ownership. Notwithstanding any other provisions hereof, Dealer may not exercise any Warrant hereunder, Automatic Exercise shall not apply with respect thereto, and no delivery hereunder (including pursuant to provisions opposite the headings “Alternative Calculations and Counterparty Payments on Early Termination and on Certain Extraordinary Events,” “Registration/Private Placement Procedures,” “Limitation on Delivery of Shares” paragraphs 5(j), (k), (m) or Annex A(n)) shall be made, to the extent (but only to the extent) that that, the receipt of any Shares upon such exercise or delivery (, after taking into account any Shares deliverable pursuant to Dealer under the Confirmation re: Base Warrant Transaction letter agreement dated May 10February 28, 2012 between Dealer and Counterparty Company regarding Base Warrants (the “Base Warrant Confirmation”)) , would result in the existence of an Excess Ownership Position as set forth in clause (1) or (3) of the definition thereofPosition. Any purported delivery hereunder shall be void and have no effect to the extent (but only to the extent) that such delivery delivery, after taking into account any Shares deliverable to Dealer under the Base Warrant Confirmation, would result in the existence of such an Excess Ownership Position. If any delivery owed to Dealer or exercise hereunder is not made, in whole or in part, as a result of this provision, Counterparty’s obligation to make such delivery and Dealer’s right to exercise a Warrant shall not be extinguished and Counterparty shall make such delivery as promptly as practicable after, but in no event later than one Clearance System Business Scheduled Trading Day after, Dealer gives notice to Counterparty that that, such exercise or delivery would not result in the existence of such an Excess Ownership Position.

Appears in 2 contracts

Samples: Letter Agreement (DealerTrack Holdings, Inc.), Letter Agreement (DealerTrack Holdings, Inc.)

Limit on Beneficial Ownership. Notwithstanding any other provisions hereof, Dealer Citibank may not exercise any Warrant hereunder, Automatic Exercise shall not apply with respect thereto, and no delivery hereunder (including pursuant to provisions opposite the headings "Alternative Calculations and Counterparty Payments on Early Termination and on Certain Extraordinary Events,” “" "Registration/Private Placement Procedures,” “" "Limitation on Delivery of Shares" or Annex A) shall be made, to the extent (but only to the extent) that the receipt of any Shares upon such exercise or delivery (after taking into account any Shares deliverable pursuant to the Confirmation re: Base Warrant Transaction dated May 10, 2012 between Dealer and Counterparty (the “Base Warrant Confirmation”)) would result in the existence Citibank directly or indirectly beneficially owning (as such term is defined for purposes of an Excess Ownership Position as set forth in clause (1) or (3Section 13(d) of the definition thereofExchange Act) at any time in excess of 4.9% of the outstanding Shares. Any purported delivery hereunder shall be void and have no effect to the extent (but only to the extent) that such delivery would result in Citibank directly or indirectly so beneficially owning in excess of 4.9% of the existence of such an Excess Ownership Positionoutstanding Shares. If any delivery owed to Dealer Citibank or exercise hereunder is not made, in whole or in part, as a result of this provision, Counterparty’s 's obligation to make such delivery and Dealer’s Citibank's right to exercise a Warrant shall not be extinguished and Counterparty shall make such delivery as promptly as practicable after, but in no event later than one Clearance System Business Day after, Dealer Citibank gives notice to Counterparty that such exercise or delivery would not result in Citibank directly or indirectly so beneficially owning in excess of 4.9% of the existence of such an Excess Ownership Positionoutstanding Shares.

Appears in 1 contract

Samples: Molson Coors Brewing Co

Limit on Beneficial Ownership. Notwithstanding any other provisions hereof, Dealer may not exercise any Warrant hereunder, Automatic Exercise shall not apply with respect thereto, and no delivery hereunder (including pursuant to provisions opposite the headings “Alternative Calculations and Counterparty Payments on Early Termination and on Certain Extraordinary Events,” “Registration/Private Placement Procedures,” “Limitation on Delivery of Shares” or Annex A) shall be made, to the extent (but only to the extent) that the receipt of any Shares upon such exercise or delivery [(after taking into account any Shares deliverable pursuant to the Confirmation re: Base Warrant Transaction dated May 10August 2, 2012 2016 between Dealer and Counterparty (the “Base Warrant Confirmation”)Confirmation”))](1) would result in the Section 16 Equity Percentage (as defined below) exceeding 9.5% or the existence of an Excess Ownership Position as set forth in clause (1) or (32) of the definition thereof. Any purported delivery hereunder shall be void and have no effect to the extent (but only to the extent) that such delivery would result in the Section 16 Equity Percentage (as defined below) exceeding 9.5% or the existence of such an Excess Ownership Position. If any delivery owed to Dealer or exercise hereunder is not made, in whole or in part, as a result of this provision, Counterparty’s obligation to make such delivery and Dealer’s right to exercise a Warrant shall not be extinguished and Counterparty shall make such delivery as promptly as practicable after, but in no event later than one Clearance System Business Day after, Dealer gives notice to Counterparty that such exercise or delivery would not result in the existence of such an Excess Ownership Position.to

Appears in 1 contract

Samples: DISH Network CORP

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Limit on Beneficial Ownership. Notwithstanding any other provisions hereof, Dealer may not exercise any Warrant hereunder, Automatic Exercise shall not apply with respect thereto, and no delivery hereunder (including pursuant to provisions opposite the headings “Alternative Calculations and Counterparty Payments on Early Termination and on Certain Extraordinary Events,” “Registration/Private Placement Procedures,” “Limitation on Delivery of Shares” or Annex A) shall be made, to the extent (but only to the extent) that the receipt of any Shares upon such exercise or delivery (after taking into account any Shares deliverable pursuant to the Confirmation re: Base Warrant Transaction dated May 10, 2012 between Dealer and Counterparty (the “Base Warrant Confirmation”)) would result in the existence of an Excess Ownership Position as set forth in clause (1) or (3) of the definition thereof. Any purported delivery hereunder shall be void and have no effect to the extent (but only to the extent) that such delivery would result in the existence of such an Excess Ownership Position. If any delivery owed to Dealer or exercise hereunder is not made, in whole or in part, as a result of this provision, Counterparty’s obligation to make such delivery and Dealer’s right to exercise a Warrant shall not be extinguished and Counterparty shall make such delivery as promptly as practicable after, but in no event later than one Clearance System Business Day after, Dealer gives notice to Counterparty that such exercise or delivery would not result in the existence of such an Excess Ownership Position.

Appears in 1 contract

Samples: Medicis Pharmaceutical Corp

Limit on Beneficial Ownership. Notwithstanding any other provisions hereof, Dealer Xxxxxx Xxxxxxx may not exercise any Warrant hereunder, Automatic Exercise shall not apply with respect thereto, and no delivery hereunder (including pursuant to provisions opposite the headings "Alternative Calculations and Counterparty Payments on Early Termination and on Certain Extraordinary Events,” “" "Registration/Private Placement Procedures,” “" "Limitation on Delivery of Shares" or Annex A) shall be made, to the extent (but only to the extent) that the receipt of any Shares upon such exercise or delivery (after taking into account any Shares deliverable pursuant to the Confirmation re: Base Warrant Transaction dated May 10, 2012 between Dealer and Counterparty (the “Base Warrant Confirmation”)) would result in the existence Xxxxxx Xxxxxxx directly or indirectly beneficially owning (as such term is defined for purposes of an Excess Ownership Position as set forth in clause (1) or (3Section 13(d) of the definition thereofExchange Act) at any time in excess of 9.0% of the outstanding Shares. Any purported delivery hereunder shall be void and have no effect to the extent (but only to the extent) that such delivery would result in Xxxxxx Xxxxxxx directly or indirectly so beneficially owning in excess of 9.0% of the existence of such an Excess Ownership Positionoutstanding Shares. If any delivery owed to Dealer Xxxxxx Xxxxxxx or exercise hereunder is not made, in whole or in part, as a result of this provision, Counterparty’s 's obligation to make such delivery and Dealer’s Xxxxxx Xxxxxxx'x right to exercise a Warrant shall not be extinguished and Counterparty shall make such delivery as promptly as practicable after, but in no event later than one Clearance System Business Day after, Dealer Xxxxxx Xxxxxxx gives notice to Counterparty that such exercise or delivery would not result in Xxxxxx Xxxxxxx directly or indirectly so beneficially owning in excess of 9.0% of the existence of such an Excess Ownership Positionoutstanding Shares.

Appears in 1 contract

Samples: Molson Coors Brewing Co

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