Purchase Limit. In the event that holders of Shares tender more than the Maximum Amount, Purchaser shall be obligated to accept for payment and pay for only the number of Shares tendered by any given holder of Shares equal to the product of (a) the total number of Shares tendered by such holder multiplied by (b) the Proration Ratio. The "Proration Ratio" shall be calculated by dividing (x) the Maximum Amount by (y) the total number of Shares validly tendered and not properly withdrawn by all holders of Shares adjusted to avoid purchases of fractional Shares.
Appears in 3 contracts
Sources: Tender Agreement (Odd Job Stores Inc), Tender Agreement (Odd Job Stores Inc), Tender Agreement (Odd Job Stores Inc)