Common use of Termination of Exchange Fund; No Liability Clause in Contracts

Termination of Exchange Fund; No Liability. At any time following 12 months after the Effective Time, the Surviving Corporation will be entitled to require the Paying Agent to deliver to it any funds (including any interest received with respect thereto) made available to the Paying Agent and not disbursed (or for which disbursement is pending subject only to the Paying Agent’s routine administrative procedures) to holders of Certificates and Book-Entry Shares, and thereafter such holders will be entitled to look only to the Surviving Corporation (subject to abandoned property, escheat or other similar Laws) only as general creditors thereof with respect to the Merger Consideration payable upon due surrender of their Certificates or Book-Entry Shares, without any interest thereon. Nonetheless, none of Parent, the Surviving Corporation nor the Paying Agent will be liable to any holder of a Certificate or Book-Entry Share for Merger Consideration delivered to a public official in accordance with any applicable abandoned property, escheat or similar Law. Any amounts remaining unclaimed by such holders at such time at which such amounts would otherwise escheat to or become property of any Governmental Authority will become, to the extent permitted by applicable Law, the property of the Surviving Corporation or its designee, free and clear of all claims or interest of any Person previously entitled thereto.

Appears in 3 contracts

Samples: Agreement and Plan of Merger, Agreement and Plan of Merger (Pfizer Inc), Agreement and Plan of Merger (Seagen Inc.)

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Termination of Exchange Fund; No Liability. At any time following 12 six (6) months after the Effective Time, the Surviving Corporation will shall be entitled to require the Paying Agent to deliver to it any funds (including any interest received with respect thereto) made available to the Paying Agent and not disbursed (or for which disbursement is pending subject only to the Paying Agent’s routine administrative procedures) to holders of Certificates and Book-Entry Shares, and thereafter such holders will shall be entitled to look only to the Surviving Corporation (subject to abandoned property, escheat or other similar Laws) only as general creditors thereof with respect to the Merger Consideration payable upon due surrender of their Certificates or Book-Entry Shares, without any interest thereon. NonethelessNotwithstanding the foregoing, none of Parent, the Surviving Corporation nor the Paying Agent will shall be liable to any holder of a Certificate or Book-Entry Share for Merger Consideration delivered to a public official in accordance with pursuant to any applicable abandoned property, escheat or similar Law. Any amounts remaining unclaimed by If Certificates or Book-Entry Shares are not surrendered prior to the time such holders at such time at which such amounts Certificates or Book-Entry shares would otherwise escheat to to, or become property of Property of, any Governmental Authority will becomeEntity, unclaimed Merger Consideration payable with respect to such Shares shall, to the extent permitted by applicable Law, become the property of the Surviving Corporation or its designeeCorporation, free and clear of all claims or interest of any Person person previously entitled thereto.

Appears in 3 contracts

Samples: Agreement and Plan of Merger (Cubist Pharmaceuticals Inc), Agreement and Plan of Merger (Cubist Pharmaceuticals Inc), Agreement and Plan of Merger (Adolor Corp)

Termination of Exchange Fund; No Liability. At any time following 12 nine (9) months after the Effective Time, the Surviving Corporation will shall be entitled to require the Paying Agent to deliver to it any funds (including any interest received with respect thereto) made available to the Paying Agent and not disbursed (or for which disbursement is pending subject only to the Paying Agent’s routine administrative procedures) to holders of Certificates and Book-Entry SharesCertificates, and thereafter such holders will shall be entitled to look only to Parent or the Surviving Corporation (subject to abandoned property, escheat or other similar Laws) only as general creditors thereof with respect to the Merger Consideration payable upon due surrender of their Certificates or Book-Entry Shares, as applicable, without any interest thereon. NonethelessNotwithstanding the foregoing, none of Parent, the Surviving Corporation nor the Paying Agent will shall be liable to any holder of a Certificate or Book-Entry Share Share, as applicable, for Merger Consideration delivered to a public official in accordance with pursuant to any applicable abandoned property, escheat or similar Law. Any amounts remaining If Certificates or Book-Entry Shares, as applicable, are not surrendered prior to three (3) years after the Effective Time, unclaimed by Merger Consideration payable with respect to such holders at such time at which such amounts would otherwise escheat to or become property of any Governmental Authority will becomeShares shall, to the extent permitted by applicable Law, become the property of the Surviving Corporation or its designeeCorporation, free and clear of all claims or interest of any Person person previously entitled thereto.

Appears in 3 contracts

Samples: Agreement and Plan of Merger (Somanetics Corp), Agreement and Plan of Merger (Covidien PLC), Agreement and Plan of Merger (Somanetics Corp)

Termination of Exchange Fund; No Liability. At any time following 12 twelve (12) months after the Effective Time, the Surviving Corporation Company will be entitled to require the Paying Agent to deliver to it any funds (including any interest received with respect thereto) made available to the Paying Agent and not disbursed (or for which disbursement is pending subject only to the Paying Agent’s routine administrative procedures) to holders of Certificates and Book-Entry Shares, and thereafter such holders will be entitled to look only to the Surviving Corporation Company (subject to abandoned property, escheat or other similar Laws) only as general creditors thereof with respect to the Merger Consideration payable upon due surrender of their Certificates or Book-Entry Shares, without any interest thereon. Nonetheless, none of Parent, the Surviving Corporation Company nor the Paying Agent will be liable to any holder of a Certificate or Book-Entry Share for Merger Consideration delivered to a public official in accordance with any applicable abandoned property, escheat or similar Law. Any amounts remaining unclaimed by such holders at such time at which such amounts would otherwise escheat to or become property of any Governmental Authority will become, to the extent permitted by applicable Law, the property of the Surviving Corporation Company or its designee, free and clear of all claims or interest of any Person previously entitled thereto.

Appears in 3 contracts

Samples: Agreement and Plan of Merger (Biohaven Pharmaceutical Holding Co Ltd.), Agreement and Plan of Merger (Biohaven Research Ltd.), Agreement and Plan of Merger (Biohaven Research Ltd.)

Termination of Exchange Fund; No Liability. At any time following 12 nine (9) months after the Effective Time, the Surviving Corporation will shall be entitled to require the Paying Agent to deliver to it any funds (including any interest received with respect thereto) made available to the Paying Agent and not disbursed (or for which disbursement is pending subject only to the Paying Agent’s routine administrative procedures) to holders of Certificates and Book-Entry SharesCertificates, and thereafter such holders will shall be entitled to look only to the Surviving Corporation (subject to abandoned property, escheat or other similar Laws) only as general creditors thereof with respect to the Merger Consideration payable upon due surrender of their Certificates or Book-Entry Shares, as applicable, without any interest thereon. NonethelessNotwithstanding the foregoing, none of Parent, the Surviving Corporation nor the Paying Agent will shall be liable to any holder of a Certificate or Book-Entry Share Share, as applicable, for Merger Consideration delivered to a public official in accordance with pursuant to any applicable abandoned property, escheat or similar Law. Any amounts remaining If Certificates or Book-Entry Shares, as applicable, are not surrendered prior to two (2) years after the Effective Time, unclaimed by Merger Consideration payable with respect to such holders at such time at which such amounts would otherwise escheat to or become property of any Governmental Authority will becomeShares shall, to the extent permitted by applicable Law, become the property of the Surviving Corporation or its designeeCorporation, free and clear of all claims or interest of any Person person previously entitled thereto.

Appears in 3 contracts

Samples: Agreement and Plan of Merger (Covidien Group S.a.r.l.), Agreement and Plan of Merger (Covidien PLC), Agreement and Plan of Merger (Vnus Medical Technologies Inc)

Termination of Exchange Fund; No Liability. At any time following 12 six (6) months after the Effective Time, the Surviving Corporation will shall be entitled to require the Paying Agent to deliver to it any funds (including any interest received with respect thereto) made available to the Paying Agent and not disbursed (or for which disbursement is pending subject only to the Paying Agent’s routine administrative procedures) or required by the terms of this Agreement to be disbursed at or prior to such date to holders of Certificates and Book-Entry Shares, and thereafter such holders will shall be entitled to look only to the Surviving Corporation (subject to abandoned property, escheat or other similar Laws) only as general creditors thereof with respect to the Merger Consideration payable upon due surrender of their Certificates or Book-Entry Shares, without any interest thereon. NonethelessNotwithstanding the foregoing, none of Parent, the Surviving Corporation nor the Paying Agent will shall be liable to any holder of a Certificate or Book-Entry Share for Merger Consideration delivered to a public official in accordance with pursuant to any applicable abandoned property, escheat or similar Law. Any amounts remaining If Certificates or Book-Entry Shares are not surrendered prior to two (2) years after the Effective Time, unclaimed by Merger Consideration payable with respect to such holders at such time at which such amounts would otherwise escheat to or become property of any Governmental Authority will becomeShares shall, to the extent permitted by applicable Law, become the property of the Surviving Corporation or its designeeCorporation, free and clear of all claims or interest of any Person person previously entitled thereto.

Appears in 3 contracts

Samples: Agreement and Plan of Merger (Covidien PLC), Agreement and Plan of Merger (Covidien Delaware Corp.), Agreement and Plan of Merger (Power Medical Interventions, Inc.)

Termination of Exchange Fund; No Liability. At any time following 12 six (6) months after the Effective Time, the Surviving Corporation will shall be entitled to require the Paying Agent to deliver to it any funds (including any interest received with respect thereto) made available to the Paying Agent and not disbursed (or for which disbursement is pending subject only to the Paying Agent’s routine administrative procedures) to holders of Certificates and Book-Entry SharesCertificates, and thereafter such holders will shall be entitled to look only to the Surviving Corporation (subject to abandoned property, escheat or other similar Laws) only as general creditors thereof with respect to the Merger Consideration payable upon due surrender of their Certificates or Book-Entry SharesCertificates, without any interest thereon. NonethelessNotwithstanding the foregoing, none of Parent, the Surviving Corporation nor the Paying Agent will shall be liable to any holder of a Certificate or Book-Entry Share for Merger Consideration delivered to a public official in accordance with pursuant to any applicable abandoned property, escheat or similar Law. Any amounts remaining If Certificates are not surrendered prior to two (2) years after the Effective Time, unclaimed by Merger Consideration payable with respect to such holders at such time at which such amounts would otherwise escheat to or become property shares of any Governmental Authority will becomeCompany Common Stock shall, to the extent permitted by applicable Law, become the property of the Surviving Corporation or its designeeCorporation, free and clear of all claims or interest of any Person person previously entitled thereto.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Bone Care International Inc), Agreement and Plan of Merger (Genzyme Corp)

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Termination of Exchange Fund; No Liability. At any time following 12 six (6) months after the Effective Time, the Surviving Corporation will shall be entitled to require the Paying Agent to deliver to it any funds (including any interest received with respect thereto) made available to the Paying Agent and not disbursed (or for which disbursement is pending subject only to the Paying Agent’s routine administrative procedures) to holders of Certificates and Book-Entry SharesCertificates, and thereafter such holders will shall be entitled to look only to the Surviving Corporation (subject to abandoned property, escheat or other similar Laws) only as general creditors thereof with respect to the Merger Consideration payable upon due surrender of their Certificates or Book-Entry SharesCertificates, without any interest thereon. NonethelessNotwithstanding the foregoing, none of Parent, the Surviving Corporation nor the Paying Agent will shall be liable to any holder of a Certificate or Book-Entry Share for Merger Consideration delivered to a public official in accordance with pursuant to any applicable abandoned property, escheat or similar Law. Any amounts remaining If Certificates are not surrendered prior to two (2) years after the Effective Time, unclaimed by Merger Consideration payable with respect to such holders at such time at which such amounts would otherwise escheat to or become property shares of any Governmental Authority will becomeCompany Capital Stock shall, to the extent permitted by applicable Law, become the property of the Surviving Corporation or its designeeCorporation, free and clear of all claims or interest of any Person person previously entitled thereto.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Bioenvision Inc), Agreement and Plan of Merger (Genzyme Corp)

Termination of Exchange Fund; No Liability. At any time following 12 months one (1) year after the Effective Time, the Surviving Corporation will shall be entitled to require the Paying Agent to deliver to it any funds (including any interest received with respect thereto) made available to the Paying Agent and not disbursed (or for which disbursement is pending subject only to the Paying Agent’s routine administrative procedures) to holders of Certificates and or Book-Entry Shares, and thereafter such holders will shall be entitled to look only to the Surviving Corporation (subject to abandoned property, escheat or other similar Laws) only as general creditors thereof with respect to the Merger Consideration payable upon due surrender of their Certificates or Book-Entry Shares, without any interest thereon. NonethelessNotwithstanding the foregoing, none of Parent, the Surviving Corporation nor the Paying Agent will shall be liable to any holder of a Certificate or Book-Entry Share for Merger Consideration delivered to a public official pursuant to and in accordance compliance with any applicable abandoned property, escheat or similar Law. Any amounts remaining unclaimed by such holders at If Certificates and Book-Entry Shares are not surrendered prior to such time at which as such amounts would otherwise escheat to or become property of any Governmental Authority will becomeAuthority, unclaimed Merger Consideration payable with respect to such shares of Company Common Stock shall, to the extent permitted by applicable Law, become the property of the Surviving Corporation or its designeeCorporation, free and clear of all claims or interest of any Person person previously entitled thereto.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Pfizer Inc), Agreement and Plan of Merger (Hospira Inc)

Termination of Exchange Fund; No Liability. At any time following 12 nine (9) months after the Company Merger Effective Time, the Surviving Corporation will Entity shall be entitled to require the Paying Exchange Agent to deliver to it any funds (including any interest received with respect thereto) made available to remaining in the Paying Agent and Exchange Fund that have not disbursed (been disbursed, or for which disbursement is pending subject only to the Paying Exchange Agent’s routine administrative procedures) , to holders of Certificates and Book-Entry SharesCertificates, and thereafter such holders will shall be entitled to look only to the Surviving Corporation Entity and Parent (subject to abandoned property, escheat or other similar Laws) only as general creditors thereof with respect to the applicable Merger Consideration, including any amount payable in respect of Fractional Share Consideration in accordance with Section 2.14, and any dividends or other distributions on Parent Common Shares in accordance with Section 2.9(f), or Preferred Merger Consideration, as applicable, payable upon due surrender of their Certificates or Book-Entry Sharesand compliance with the procedures in Section 2.9(b), without any interest thereon. NonethelessNotwithstanding the foregoing, none of Parent, the Surviving Corporation nor Entity, Parent or the Paying Exchange Agent will or any of their respective Affiliates shall be liable to any holder of a Certificate or Book-Entry Share for any Merger Consideration, Preferred Merger Consideration or other amounts delivered to a public official in accordance with pursuant to any applicable abandoned property, escheat or similar Law. Any amounts remaining unclaimed by such holders at such time at which such amounts would otherwise escheat to or become property of any Governmental Authority will become, to the extent permitted by applicable Law, the property of the Surviving Corporation or its designee, free and clear of all claims or interest of any Person previously entitled thereto.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (LaSalle Hotel Properties), Agreement and Plan of Merger (Pebblebrook Hotel Trust)

Termination of Exchange Fund; No Liability. At any time following 12 months one (1) year after the Effective Time, the Surviving Corporation will shall be entitled to require the Paying Agent to deliver to it any funds (including any interest received with respect thereto) made available to the Paying Agent and not disbursed (or for which disbursement is pending subject only to the Paying Agent’s routine administrative procedures) to holders of Certificates and Book-Entry Shares, and thereafter such holders will shall be entitled to look only to Parent and the Surviving Corporation (subject to abandoned property, escheat or other similar Laws) only as general creditors thereof with respect to the Merger Consideration payable upon due surrender of their Certificates or Book-Entry Shares, without any interest thereon. NonethelessNotwithstanding the foregoing, none of Parent, the Surviving Corporation nor the Paying Agent will shall be liable to any holder of a Certificate or Book-Entry Share for Merger Consideration delivered to a public official in accordance with pursuant to any applicable abandoned property, escheat or similar Law. Any amounts remaining If Certificates or Book-Entry Shares are not surrendered prior to two (2) years after the Effective Time, unclaimed by Merger Consideration payable with respect to such holders at such time at which such amounts would otherwise escheat to or become property of any Governmental Authority will becomeShares shall, to the extent permitted by applicable Law, become the property of the Surviving Corporation or its designeeCorporation, free and clear of all claims or interest of any Person person previously entitled thereto.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Icagen Inc)

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