Common use of Profit Limitation Clause in Contracts

Profit Limitation. (a) Notwithstanding any other provision of this Agreement or the Merger Agreement, in no event shall Parent's Total Profit (as defined below) exceed $460,000,000 (the "Maximum Amount") and, if it otherwise would exceed such Maximum Amount, Parent at its sole election may (i) pay cash to the Company, (ii) deliver to the Company for cancellation Option Shares previously purchased by Parent, or (iii) any combination thereof, so that Parent's actually realized Total Profit (as defined below) shall not exceed the Maximum Amount after taking into account the foregoing actions.

Appears in 2 contracts

Samples: Stock Option Agreement (Quaker Oats Co), Stock Option Agreement (Pepsico Inc)

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Profit Limitation. (a) Notwithstanding any other provision of this Agreement or the Merger Agreement, in no event shall Parentthe Company's Total Profit (as defined below) exceed $460,000,000 400 million (the "Maximum Amount") and, if it otherwise would exceed such Maximum Amount, Parent the Company at its sole election may (i) pay cash to the CompanyParent, (ii) deliver to the Company Parent for cancellation Option Shares previously purchased by Parentthe Company, or (iii) any combination thereof, so that Parentthe Company's actually realized Total Profit (as defined below) shall not exceed the Maximum Amount after taking into account the foregoing actions.

Appears in 2 contracts

Samples: 3 Stock Option Agreement (Alliedsignal Inc), Stock Option Agreement (Honeywell Inc)

Profit Limitation. (a) Notwithstanding any other provision of this Agreement or the Merger Agreement, in no event shall Parent's Total Profit (as defined below) exceed $460,000,000 1,100,000,000 (the "Maximum Amount") and, if it otherwise would exceed such Maximum Amount, Parent at its sole election may (i) pay cash to the Company, (ii) deliver to the Company for cancellation Option Shares previously purchased by Parent, or (iii) any combination thereof, so that Parent's actually realized Total Profit (as defined below) shall not exceed the Maximum Amount after taking into account the foregoing actions.

Appears in 2 contracts

Samples: Stock Option Agreement (Texaco Inc), Stock Option Agreement (Chevron Corp)

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Profit Limitation. (a) Notwithstanding any other provision of this Agreement or the Merger Agreement, in no event shall Parentthe Company's Total Profit (as defined below) exceed $460,000,000 1,100,000,000 (the "Maximum Amount") and, if it otherwise would exceed such Maximum Amount, Parent the Company at its sole election may (i) pay cash to the CompanyParent, (ii) deliver to the Company Parent for cancellation Option Shares previously purchased by Parentthe Company, or (iii) any combination thereof, so that Parentthe Company's actually realized Total Profit (as defined below) shall not exceed the Maximum Amount after taking into account the foregoing actions.

Appears in 2 contracts

Samples: Stock Option Agreement (Texaco Inc), Stock Option Agreement (Chevron Corp)

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