Common use of Right Clause in Contracts

Right. Each of the Rights outstanding after such adjustment of the number of Rights shall be exercisable for the number of one one-thousandths of a share of Preferred Stock for which a Right was exercisable immediately prior to such adjustment. Each Right held of record prior to such adjustment of the number of Rights shall become that number of Rights (calculated to the nearest one ten-thousandth) obtained by dividing the Purchase Price in effect immediately prior to adjustment of the Purchase Price by the Purchase Price in effect immediately after adjustment of the Purchase Price. The Company shall make a public announcement of its election to adjust the number of Rights, indicating the record date for the adjustment, and, if known at the time, the amount of the adjustment to be made. This record date may be the date on which the Purchase Price is adjusted or any day thereafter, but, if the Right Certificates have been issued, shall be at least 10 days later than the date of the public announcement. If Right Certificates have been issued, upon each adjustment of the number of Rights pursuant to this Section 11(i), the Company may, as promptly as practicable, cause to be distributed to holders of record of Right Certificates on such record date Right Certificates evidencing, subject to Section 14 hereof, the additional Rights to which such holders shall be entitled as a result of such adjustment, or, at the option of the Company, shall cause to be distributed to such holders of record in substitution and replacement for the Right Certificates held by such holders prior to the date of adjustment, and upon surrender thereof, if required by the Company, new Right Certificates evidencing all the Rights to which such holders shall be entitled after such adjustment. Right Certificates so to be distributed shall be issued, executed and countersigned in the manner provided for herein and shall be registered in the names of the holders of record of Right Certificates on the record date specified in the public announcement.

Appears in 1 contract

Samples: Rights Agreement (Tca Cable Tv Inc)

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Right. Each of the Rights outstanding after such adjustment of the number of Rights shall will be exercisable for the number of one one-thousandths hundredths of a share of Preferred Stock Share for which a Right was exercisable immediately prior to such adjustment. Each Right held of record prior to such adjustment of the number of Rights shall will become that number of Rights (calculated to the nearest one ten-thousandth) obtained by dividing the Purchase Price in effect immediately prior to adjustment of the Purchase Price by the Purchase Price in effect immediately after adjustment of the Purchase Price. The Company shall will make a public announcement of its election to adjust the number of Rights, indicating the record date for the adjustment, and, if known at the time, the amount of the adjustment to be made. This Such record date may be the date on which the Purchase Price is adjusted or any day thereafter, but, if the Right Certificates have been issued, shall will be at least 10 calendar days later than the date of the public announcement. If Right Certificates have been issued, upon each adjustment of the number of Rights pursuant to this Section 11(i), the Company maywill, as promptly as practicable, cause to be distributed to holders of record of Right Certificates on such record date Right Certificates evidencing, subject to the provisions of Section 14 hereof14, the additional Rights to which such holders shall be are entitled as a result of such adjustment, or, at the option of the Company, shall will cause to be distributed to such holders of record in substitution and replacement for the Right Certificates held by such holders prior to the date of adjustment, and upon surrender thereof, thereof if required by the Company, new Right Certificates evidencing all the Rights to which such holders shall be are entitled after such adjustment. Right Certificates so to be distributed shall will be issued, executed executed, and countersigned in the manner provided for herein (and shall may bear, at the option of the Company, the adjusted Purchase Price) and will be registered in the names 36 40 of the holders of record of Right Certificates on the record date specified in the public announcement.

Appears in 1 contract

Samples: Rights Agreement (Olympic Steel Inc)

Right. Each of the Rights outstanding after such adjustment of the number of Rights shall be exercisable for the number of one one-thousandths of a share of Preferred Stock Share for which a Right was exercisable immediately prior to such adjustment. Each Right held of record prior to such adjustment of the number of Rights shall become that number of Rights (calculated to the nearest one tenhundred-thousandth) obtained by dividing the Purchase Exercise Price in effect immediately prior to adjustment of the Purchase Exercise Price by the Purchase Exercise Price in effect immediately after adjustment of the Purchase Exercise Price. The Company shall make a public announcement of its election to adjust the number of Rights, indicating the record date for the adjustment, and, if known at the time, the amount of the adjustment to be made. This record date may be the date on which the Purchase Exercise Price is adjusted or any day thereafter, but, if the Right Rights Certificates have been issued, shall be at least 10 ten (10) days later than the date of the public announcement. If Right Rights Certificates have been issued, upon each adjustment of the number of Rights pursuant to this Section 11(i11(h), the Company mayshall, as promptly as practicable, cause to be distributed to holders of record of Right Rights Certificates on such record date Right Rights Certificates evidencing, subject to Section 14 hereof, the additional Rights to which such holders shall be entitled as a result of such adjustment, or, at the option of the Company, shall cause to be distributed to such holders of record in substitution and replacement for the Right Rights Certificates held by such holders prior to the date of adjustment, and upon surrender thereof, if required by the Company, new Right Rights Certificates evidencing all the Rights to which such holders shall be entitled after such adjustment. Right Rights Certificates so to be distributed shall be issued, executed and countersigned in the manner provided for herein (and may bear, at the option of the Company, the adjusted Exercise Price) and shall be registered in the names of the holders of record of Right Rights Certificates on the record date specified in the public announcement.

Appears in 1 contract

Samples: Preferred Shares Rights Agreement (Read Rite Corp /De/)

Right. Each of the Rights outstanding after such adjustment of the number of Rights shall be exercisable for the number of one one-thousandths of a share of Preferred Stock Share for which a Right was exercisable immediately prior to such adjustment. Each Right held of record prior to such adjustment of the number of Rights shall become that number of Rights (calculated to the nearest one ten-thousandth) obtained by dividing the Purchase Price in effect immediately prior to adjustment of the Purchase Price by the Purchase Price in effect immediately after adjustment of the Purchase Price. The Company shall make a public announcement of its election to adjust the number of Rights, indicating the record date for the adjustment, and, if known at the time, the amount of the adjustment to be made. This record date may be the date on which the Purchase Price is adjusted or any day thereafter, but, if the Right Certificates have been issued, shall be at least 10 days later than the date of the public announcement. If Right Certificates have been issued, upon each adjustment of the number of Rights pursuant to this Section 11(i), the Company mayshall, as promptly as practicable, cause to be distributed to holders of record of Right Certificates on such record date Right Certificates evidencing, subject to Section 14 hereof14, the additional Rights to which such holders shall be entitled as a result of such adjustment, or, at the option of the Company, shall cause to be distributed to such holders of record in substitution and replacement for the Right Certificates held by such holders prior to the date of adjustment, and upon surrender thereof, if required by the Company, new Right Certificates evidencing all the Rights to which such holders shall be entitled after such adjustment. Right Certificates so to be distributed shall be issued, executed and countersigned in the manner provided for herein herein, and shall be registered in the names of the holders of record of Right Certificates on the record date specified in the public announcement.

Appears in 1 contract

Samples: Rights Agreement (Jason Industries, Inc.)

Right. Each of the Rights outstanding after such adjustment of the number of Rights shall be exercisable for the number of one one-thousandths (0.001) of a share of Preferred Stock Share for which a Right was exercisable immediately prior to such adjustment. Each Right held of record prior to such adjustment of the number of Rights shall become that number of Rights (calculated to the nearest one tenhundred-thousandththousandth (0.00001)) obtained by dividing the Purchase Exercise Price in effect immediately prior to adjustment of the Purchase Exercise Price by the Purchase Exercise Price in effect immediately after adjustment of the Purchase Exercise Price. The Company shall make a public announcement of its election to adjust the number of Rights, indicating the record date for the adjustment, and, if known at the time, the amount of the adjustment to be made. This record date may be the date on which the Purchase Exercise Price is adjusted or any day thereafter, but, if the Right any Rights Certificates have been issued, shall be at least 10 ten (10) days later than the date of the public announcement. If Right Rights Certificates have been issued, upon each adjustment of the number of Rights pursuant to this Section 11(i11(h), the Company mayshall, as promptly as practicable, cause to be distributed to holders of record of Right Rights Certificates on such record date Right Rights Certificates evidencing, subject to Section 14 hereof, the additional Rights to which such holders shall be entitled as a result of such adjustment, or, at the option of the Company, shall cause to be distributed to such holders of record in substitution and replacement for the Right Rights Certificates held by such holders prior to the date of adjustment, and upon surrender thereof, if required by the Company, new Right Rights Certificates evidencing all the Rights to which such holders shall be entitled after such adjustment. Right Rights Certificates so to be distributed shall be issued, executed and countersigned in the manner provided for herein (and may bear, at the option of the Company, the adjusted Exercise Price) and shall be registered in the names of the holders of record of Right Rights Certificates on the record date specified in the public announcement. Irrespective of any adjustment or change in the Exercise Price or the number of Preferred Shares issuable upon the exercise of the Rights, the Rights Certificates theretofore and thereafter issued may continue to express the Exercise Price per one one-thousandth (0.001) of a Preferred Share and the number of one-thousandths (0.001) of a Preferred Share which were expressed in the initial Rights Certificates issued hereunder. Before taking any action that would cause an adjustment reducing the Exercise Price below the par or stated value, if any, of the number of one-thousandths (0.001) of a Preferred Share issuable upon exercise of the Rights, the Company shall take any corporate action which may, in the opinion of its counsel, be necessary in order that the Company may validly and legally issue as fully paid and nonassessable shares such number of one-thousandths (0.001) of a Preferred Share at such adjusted Exercise Price. In any case in which this Section 11 shall require that an adjustment in the Exercise Price be made effective as of a record date for a specified event, the Company may elect to defer until the occurrence of such event the issuing to the holder of any Right exercised after such record date of the number of one-thousandths (0.001) of a Preferred Share and other capital stock or securities of the Company, if any, issuable upon such exercise over and above the number of one-thousandths (0.001) of a Preferred Share and other capital stock or securities of the Company, if any, issuable upon such exercise on the basis of the Exercise Price in effect prior to such adjustment; provided, however, that the Company shall deliver to such holder a due xxxx or other appropriate instrument evidencing such holder's right to receive such additional shares (fractional or otherwise) upon the occurrence of the event requiring such adjustment. Anything in this Section 11 to the contrary notwithstanding, prior to the Distribution Date, the Company shall be entitled to make such reductions in the Exercise Price, in addition to those adjustments expressly required by this Section 11, as and to the extent that it in its sole discretion shall determine to be advisable in order that any (i) consolidation or subdivision of the Preferred or Common Shares, (ii) issuance wholly for cash of any Preferred or Common Shares at less than the current market price, (iii) issuance wholly for cash of Preferred or Common Shares or securities which by their terms are convertible into or exchangeable for Preferred or Common Shares, (iv) stock dividends or (v) issuance of rights, options or warrants referred to in this Section 11, hereafter made by the Company to holders of its Preferred or Common Shares shall not be taxable to such stockholders. The Company covenants and agrees that, after the Distribution Date, it will not, except as permitted by Sections 23, 24 or 27 hereof, take (or permit to be taken) any action if at the time such action is taken it is reasonably foreseeable that such action will diminish substantially or otherwise eliminate the benefits intended to be afforded by the Rights. In the event that the Company shall at any time after the date of this Agreement (A) declare a dividend on the Common Shares payable in Common Shares, (B) subdivide the outstanding Common Shares, (C) combine the outstanding Common Shares (by reverse stock split or otherwise) into a smaller number of Common Shares, or (D) issue any shares of its capital stock in a reclassification of the Common Shares (including any such reclassification in connection with a consolidation or merger in which the Company is the continuing or surviving corporation), then, in each such event, except as otherwise provided in this Section 11(a) and Section 7(e) hereof: (1) each Common Share (or shares of capital stock issued in such reclassification of the Common Shares) outstanding immediately following such time shall have associated with it the number of Rights as were associated with one Common Share immediately prior to the occurrence of the event described in clauses (A)-(D) above; (2) the Exercise Price in effect at the time of the record date for such dividend or of the effective date of such subdivision, combination or reclassification shall be adjusted so that the Exercise Price thereafter shall equal the result obtained by multiplying the Exercise Price in effect immediately prior to such time by a fraction, the numerator of which shall be the total number of Common Shares outstanding immediately prior to the event described in clauses (A)-(D) above, and the denominator of which shall be the total number of Common Shares outstanding immediately after such event; provided, however, that in no event shall the consideration to be paid upon the exercise of one Right be less than the aggregate par value of the shares of capital stock of the Company issuable upon exercise of such Right; and (3) the number of one-thousandths (0.001) of a Preferred Share (or shares of such other capital stock) issuable upon the exercise of each Right outstanding after such event shall equal the number of one-thousandths (0.001) of a Preferred Share (or shares of such other capital stock) as were issuable with respect to one Right immediately prior to such event. Each Common Share that shall become outstanding after an adjustment has been made pursuant to this Section 11(n) shall have associated with it the number of Rights, exercisable at the Exercise Price and for the number of one-thousandths (0.001) of a Preferred Share (or shares of such other capital stock) as one Common Share has associated with it immediately following the adjustment made pursuant to this Section 11(n). If an event occurs which would require an adjustment under both this Section 11(n) and Section 11(a)(ii) hereof, the adjustment provided for in this Section 11(n) shall be in addition to, and shall be made prior to, any adjustment required pursuant to Section 11(a)(ii) hereof.

Appears in 1 contract

Samples: Preferred Stock Rights Agreement (Intraware Inc)

Right. Each of the Rights outstanding after such adjustment of the number of Rights shall be exercisable for the number of one one-thousandths hundredths of a share of Preferred Stock Share for which a Right was exercisable immediately prior to such adjustment. Each Right held of record prior to such adjustment of the number of Rights shall become that number of Rights (calculated to the nearest one ten-thousandth) obtained by dividing the Purchase Price in effect immediately prior to adjustment of the Purchase purchase Price by the Purchase Price in effect immediately after adjustment of the Purchase Price. The Company shall make a public announcement of its election to adjust the number of Rights, indicating the record date for the adjustment, and, if known at the time, the amount of the adjustment to be made. This record date may be the date on which the Purchase Price is adjusted or any day thereafter, but, if the Right Rights Certificates have been issued, shall be at least 10 days later than the date of the public announcement. If Right Rights Certificates have been issued, upon each adjustment of the number of Rights pursuant to this Section 11(i), the Company mayshall, as promptly as practicable, cause to be distributed to holders of record of Right Rights Certificates on such record date Right Rights Certificates evidencing, subject to Section 14 hereof, the additional Rights to which such holders shall be entitled as a result of such adjustment, or, at the option of the Company, shall cause to be distributed to such holders of record in substitution and replacement for the Right Rights Certificates held by such holders prior to the date of adjustment, and upon surrender thereof, if required by the Company, new Right Rights Certificates evidencing all the Rights to which such holders shall be entitled after such adjustment. Right Rights Certificates so to be distributed shall be issued, executed and countersigned in the manner provided for herein and shall be registered in the names of the holders of record of Right Rights Certificates on the record date specified in the public announcement.

Appears in 1 contract

Samples: Rights Agreement (Fruit of the Loom Inc /De/)

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Right. Each of the Rights outstanding after such the adjustment of in the number of Rights shall be exercisable for the number of one one-thousandths hundredths of a share of Preferred Stock for which a Right was exercisable immediately prior to such adjustment. Each Right held of record prior to such adjustment of the number of Rights shall become that number of Rights (calculated to the nearest one one- ten-thousandth) obtained by dividing the Purchase Price in effect immediately prior to adjustment of the Purchase Price by the Purchase Price in effect immediately after adjustment of the Purchase Price. The Company shall make a public announcement of its election to adjust the number of Rights, indicating the record date for the adjustment, and, if known at the time, the amount of the adjustment to be made. This record date may be the date on which the Purchase Price is adjusted or any day thereafter, but, if the Right Rights Certificates have been issued, shall be at least 10 ten days later than the date of the public announcement. If Right Rights Certificates have been issued, upon each adjustment of the number of Rights pursuant to this Section 11(i), the Company mayshall, as promptly as practicable, cause to be distributed to holders of record of Right Certificates on such record date Right Rights Certificates evidencing, subject to Section 14 hereof, the additional Rights to which such holders shall be entitled as a result of such adjustment, or, at the option of the Company, shall cause to be distributed to such holders of record in substitution and replacement for the Right Rights Certificates held by such holders prior to the date of adjustment, and upon surrender thereof, if required by the Company, new Right Rights Certificates evidencing all the Rights to which such holders shall be entitled after such adjustment. Right Rights Certificates so to be distributed shall be issued, executed and countersigned or initialed in the manner provided for herein (and may bear, at the option of the Company, the adjusted Purchase Price) and shall be registered in the names of the holders of record of Right Rights Certificates on the record date specified in the public announcement.

Appears in 1 contract

Samples: Rights Agreement (Imo Industries Inc)

Right. Each Provided that Tenant is not then in default beyond any applicable cure period, Tenant shall have the continuing right to expand described herein throughout the term of this Lease, as such term may be extended. At any time prior to the end of the Rights outstanding after such adjustment ninth (9th) year of the number term of Rights this Lease, or at any time prior to the end of the fourth (4th) year of any extension term of this Lease, Tenant may give written notice (the “Expansion Notice”) to Landlord that Tenant desires for Landlord to construct an expansion of the Building on the east side of the Building (“Expansion Land”) as shown on the attached Exhibit “B”, Site Plan according to Tenant’s preliminary plans and specifications, to be prepared by Landlord and agreed to by Tenant, which shall include without limitation Tenant’s desired square footage for expansion. Upon receipt of the Expansion Notice, Landlord shall have the obligation to construct an expansion of the Building up to an additional 286,000 square feet of space in the location shown on Exhibit “B” (the “Expansion Space”). The Expansion Notice shall only be effective if Tenant is the original Tenant under this Lease, and the Guaranty of the original Guarantor is still in full force and effect, and that the net worth of the Guarantor, pursuant to audited financial statements or the Guarantor’s public filings with the SEC, is the same or greater than on the Commencement Date of the Lease. In addition, Tenant expressly acknowledges that Landlord’s present and future lenders, shall not be obligated to build the Expansion Space. Within sixty (60) days after receipt of the Expansion Notice, Landlord shall submit to Tenant, for Tenant’s reasonable review and approval, detailed plans and specifications for the Expansion Space (the “Expansion Plans”) which Expansion Plans shall be exercisable consistent, to the extent reasonably feasible, with the plans prepared in accordance with the design criteria for the number original Building, Tenant’s preliminary plans and specifications, and subject to approval of one one-thousandths of all local building authorities. Landlord shall also provide to Tenant, at the same time as Landlord provides the Expansion Plans, a share of Preferred Stock for which a Right was exercisable immediately prior to such adjustment. Each Right held of record prior to such adjustment detailed analysis of the number of Rights Expansion Project Costs, Expansion Rent, and a Project Schedule for Tenant’s review and approval. Within forty five (45) days from the date the Expansion Plans and the Expansion Project Costs have been submitted to Tenant (the “Expansion Approval Period”), Tenant shall become that number of Rights (calculated approve or disapprove the same. “Expansion Project Costs” shall mean all reasonable and customary hard costs, soft costs, finance charges, interest carry, commissions, development and contractor fees and any other indirect costs directly related to the nearest one ten-thousandth) obtained by dividing the Purchase Price in effect immediately prior to adjustment Expansion Space and Expansion Land (exclusive of the Purchase Price by the Purchase Price in effect immediately after adjustment cost of the Purchase Price. The Company shall make a public announcement of its election to adjust the number of Rights, indicating the record date for the adjustment, and, if known at the time, the amount of the adjustment to be made. This record date may be the date on which the Purchase Price is adjusted Expansion Land and excluding yield maintenance or any day thereafter, but, if the Right Certificates have been issued, shall be at least 10 days later than the date of the public announcement. If Right Certificates have been issued, upon each adjustment of the number of Rights pursuant to this Section 11(i), the Company may, as promptly as practicable, cause to be distributed to holders of record of Right Certificates on such record date Right Certificates evidencing, subject to Section 14 hereof, the additional Rights to which such holders shall be entitled breakage fees as a result of such adjustmentfinancing obtained by Landlord for the Property). Expansion Project Costs will also include any off-site costs related to the east road pursuant to the Memorandum of Understanding among Suburban Land Reserve, orLandlord, at Tenant, and the option City of Kansas City, Missouri, dated March 17, 2006, a copy of which is attached hereto as Rider 10. If Tenant has not given Landlord written notice of its approval of the CompanyExpansion Plans or the Expansion Project Costs and Expansion Rent within the Expansion Approval Period, then Tenant shall be deemed to have disapproved the Expansion Plans and the Expansion Project Costs and Expansion Rent, and Expansion Notice shall be deemed revoked by Tenant. If Tenant approves with reservations either the Expansion Plans or the Expansion Project Costs and Expansion Rent, Tenant and Landlord shall use their best efforts to amend the Expansion Plans or otherwise address Tenant’s concerns in a manner satisfactory to each. In the event the parties are unable, despite their best efforts, to agree upon the Expansion Plans or Expansion Project Costs and Expansion Rent within thirty (30) days of Tenant’s approval with reservations, Tenant may revoke its Expansion Notice and the parties are relieved of further obligations with respect to the Expansion Space. In the event Tenant approves the Expansion Plans and Expansion Project Costs and Expansion Rent, Landlord shall cause the Expansion Space to be distributed Substantially Completed in accordance with the Project Schedule to such holders of record in substitution be mutually agreed to by Landlord and replacement Tenant. The lease term for the Right Certificates held by such holders prior to Expansion Space shall commence on the date of adjustmentupon which the Expansion Space is substantially complete, and upon surrender thereof, if required by the Company, new Right Certificates evidencing all the Rights to which such holders shall be entitled after such adjustment. Right Certificates so to be distributed shall be issued, executed and countersigned in the manner provided for herein and shall be registered in for a minimum of ten (10) years (the names “Expansion Space Lease Term”). If the remaining lease term of the holders original Building is less than ten (10) years at the time the Expansion Space is delivered, then the lease term of record the Building shall be extended to be coterminous with the Expansion Space Lease Term (the “New Lease Term”). The Options to Renew set forth in Article 17 above shall be re-set to commence upon termination of Right Certificates on the record date specified in the public announcementNew Lease Term.

Appears in 1 contract

Samples: Lease Agreement (Guitar Center Inc)

Right. Each of the Rights outstanding after such adjustment of the number of Rights shall will be exercisable for the number of one one-thousandths hundredths of a share of Preferred Stock Share for which a Right was exercisable immediately prior to such adjustment. Each Right held of record prior to such adjustment of the number of Rights shall will become that number of Rights (calculated to the nearest one ten-thousandth) obtained by dividing the Purchase Price in effect immediately prior to adjustment of the Purchase Price by the Purchase Price in effect immediately after adjustment of the Purchase Price. The Company shall will make a public announcement of its election to adjust the number of Rights, indicating the record date for the adjustment, and, if known at the time, the amount of the adjustment to be made. This Such record date may be the date on which the Purchase Price is adjusted or any day thereafter, but, if the Right Certificates have been issued, shall will be at least 10 calendar days later than the date of the public announcement. If Right Certificates have been issued, upon each adjustment of the number of Rights pursuant to this Section 11(i), the Company maywill, as promptly as practicable, cause to be distributed to holders of record of Right Certificates on such record date Right Certificates evidencing, subject to the provisions of Section 14 hereof14, the additional Rights to which such holders shall be are entitled as a result of such adjustment, or, at the option of the Company, shall will cause to be distributed to such holders of record in substitution and replacement for the Right Certificates held by such holders prior to the date of adjustment, and upon surrender thereof, thereof if required by the Company, new Right Certificates evidencing all the Rights to which such holders shall be are entitled after such adjustment. Right Certificates so to be distributed shall will be issued, executed executed, and countersigned in the manner provided for herein (and shall may bear, at the option of the Company, the adjusted Purchase Price) and will be registered in the names of the holders of record of Right Certificates on the record date specified in the public announcement.names

Appears in 1 contract

Samples: Rights Agreement (Olympic Steel Inc)

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