Common use of Right to Purchase Common Stock of a Successor Corporation Clause in Contracts

Right to Purchase Common Stock of a Successor Corporation. If, on or after the 15% Ownership Date, (i) the Company is acquired in a merger or other business combination in which the Company is not the surviving corporation, (ii) the Company is the surviving corporation in a merger or other business combination in which all or part of the outstanding Common Shares are changed into or exchanged for stock or assets of another person or (iii) 50% or more of the Company's consolidated assets or earning power are sold (other than in transactions in the ordinary course of business), then each Right (other than a Right that has become void) shall thereafter be exercisable to purchase, at the Exercise Price (initially $250.00), shares of common stock of the surviving corporation or purchaser, respectively, with an aggregate market value equal to two times the Exercise Price.

Appears in 2 contracts

Samples: Rights Agreement (Minimed Inc), Rights Agreement (Minimed Inc)

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Right to Purchase Common Stock of a Successor Corporation. If, on or after the 15% Ownership Date, (i) the Company is acquired in a merger or other business combination in which the Company is not the surviving corporation, (ii) the Company is the surviving corporation in a merger or other business combination in which all or part of the outstanding Common Shares are changed into or exchanged for stock or assets of another person or (iii) 50% or more of the Company's consolidated assets or earning power are sold (other than in transactions in the ordinary course of business), then each Right (other than a Right that has become void) shall thereafter be exercisable to purchase, at the Exercise Price (initially $250.00)Price, shares of common stock of the surviving corporation or purchaser, respectivelyrespectively (the "Surviving Person"), with an aggregate market value equal to two times the Exercise Price.

Appears in 1 contract

Samples: Rights Agreement (Del Monte Foods Co)

Right to Purchase Common Stock of a Successor Corporation. If, on or after the 15% Ownership Date, (i) the Company is acquired in a merger or other business combination in which the Company is not the surviving corporation, (ii) the Company is the surviving corporation in a merger or other business combination in which all or part of the outstanding Common Shares are changed into or exchanged for stock or assets of another person or (iii) 50% or more of the Company's consolidated assets or earning power are sold (other than in transactions in the ordinary course of business), then each Right (other than a Right that has become void) shall thereafter be exercisable to purchase, at the Exercise Price (initially $250.0015.00), shares of common stock securities of the surviving corporation or purchaser, respectively, with an aggregate market value equal to two four times the Exercise Price.

Appears in 1 contract

Samples: Rights Agreement (Giga Tronics Inc)

Right to Purchase Common Stock of a Successor Corporation. If, on or --------------------------------------------------------- after the 15% Ownership Date, (i) the Company is acquired in a merger or other business combination in which the Company is not the surviving corporation, (ii) the Company is the surviving corporation in a merger or other business combination in which all or part of the outstanding Common Shares are changed into or exchanged for stock or assets of another person or (iii) 50% or more of the Company's consolidated assets or earning power are sold (other than in transactions in the ordinary course of business), then each Right (other than a Right that has become void) shall thereafter be exercisable to purchase, at the Exercise Price (initially $250.0040), shares of common stock of the surviving corporation or purchaser, respectively, with an aggregate market value equal to two times the Exercise Price.

Appears in 1 contract

Samples: Rights Agreement (Standard Pacific Corp /De/)

Right to Purchase Common Stock of a Successor Corporation. If, on or after the 15% Ownership Date, (i) the Company is acquired in a merger or other business combination in which the Company is not the surviving corporation, (ii) the Company is the surviving corporation in a merger or other business combination in which all or part of the outstanding Common Shares are changed into or exchanged for stock or assets of another person or (iii) 50% or more of the Company's consolidated assets or earning power are sold (other than in transactions in the ordinary course of business), then each Right (other than a Right that has become void) shall thereafter be exercisable to purchase, at the Exercise Price (initially $250.00175), shares of common stock of the surviving corporation or purchaser, respectively, with an aggregate market value equal to two times the Exercise Price.

Appears in 1 contract

Samples: Rights Agreement (Jacobs Engineering Group Inc /De/)

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Right to Purchase Common Stock of a Successor Corporation. If, on or after the 15% Ownership Datea person has become an Acquiring Person, (i) the Company is acquired in a merger or other business combination in which the Company is not the surviving corporation, (ii) the Company is the surviving corporation in a merger or other business combination in which all or part of the outstanding shares of Common Shares Stock are changed into or exchanged for stock or assets of another person person, or (iii) 50% or more of the Company's consolidated assets or earning power are sold (other than in transactions in the ordinary course of business)sold, then each Right (other than a Right that has become void) shall thereafter be exercisable to purchase, at the Exercise Purchase Price (initially $250.0060.00), shares of common stock Common Stock or cash of the surviving corporation or purchaser, respectively, with an aggregate market value equal to two times the Exercise Purchase Price.

Appears in 1 contract

Samples: Rights Agreement (Pinnacle Holdings Inc)

Right to Purchase Common Stock of a Successor Corporation. If, on or after the 15% Ownership Date, (i) the Company is acquired in a merger or other business combination in which the Company is not the surviving corporation, (ii) the Company is the surviving corporation in a merger or other business combination in which all or part of the outstanding Common Shares are changed into or exchanged for stock or assets of another person or (iii) 50% or more of the Company's consolidated assets or earning power are sold (other than in transactions in the ordinary course of business), then each Right (other than a Right that has become void) shall thereafter be exercisable to purchase, at the Exercise Price (initially $250.0035.00), shares of common stock of the surviving corporation or purchaser, respectivelyrespectively (the "Surviving Person"), with an aggregate market value equal to two times the Exercise Price.

Appears in 1 contract

Samples: Rights Agreement (Globespanvirata Inc)

Right to Purchase Common Stock of a Successor Corporation. If, on or after the 1520% Ownership Date, (i) the Company is acquired in a merger or other business combination in which the Company is not the surviving corporation, (ii) the Company is the surviving corporation in a merger or other business combination in which all or part of the outstanding Common Shares are changed into or exchanged for stock or assets of another person or (iii) 50% or more of the Company's consolidated assets or earning power are sold (other than in transactions in the ordinary course of business), then each Right (other than a Right that has become void) shall thereafter be exercisable to purchase, at the Exercise Price (initially $250.0040.00), shares of common stock of the surviving corporation or purchaser, respectively, with an aggregate market value equal to two times the Exercise Price.

Appears in 1 contract

Samples: Rights Agreement (Virco MFG Corporation)

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