Common use of Phar Clause in Contracts

Phar. Mor shall, as soon as reasonably practicable after the date hereof, (i) take all steps necessary to call, give notice of, convene and hold a special meeting of its shareholders ("Phar-Mor Special Meeting") for the purpose of securing the approval and adoption of the Phar-Mor Plan by the holders of a majority of the Phar-Mor Common Shares represented at the Phar-Mor Special Meeting (or any adjournments thereof) at which a quorum is present, in person or by proxy, and entitled to vote ("Phar-Mor Shareholders' Approval"), (ii) distribute to its shareholders the Proxy Statement in accordance with applicable federal and state law and its articles of incorporation and by-laws, (iii) subject to the fiduciary duties of the Phar-Mor Board, recommend to its shareholders the approval of the Phar-Mor Plan, and (iv) cooperate and consult with ShopKo with respect to each of the foregoing matters. V. AMENDMENT TO ARTICLE V. Article V of the Agreement is hereby amended by deleting Subsection 5.1(i) in its entirety and replacing it with the following: (i)