Eligible Tender Offer definition

Eligible Tender Offer means a tender offer by the Corporation as approved by the Board of Directors to purchase 100% of the then outstanding Common Stock of the Corporation at a price equal to the net asset value per share of Common Stock on the expiration date of the tender offer, which expiration date shall be as of a date within twelve months preceding the Termination Date; provided, however, that such tender offer shall be terminated, and no shares of Common Stock shall be repurchased pursuant to such tender offer, if the number of properly tendered shares of Common Stock in such tender offer would result in the Corporation’s net assets totaling less than $100 million immediately following the tender offer. Notwithstanding any other provision of the Charter to the contrary, the Corporation may conduct an Eligible Tender Offer upon the action of a majority of the entire Board of Directors, without a vote of the stockholders of the Corporation.
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Eligible Tender Offer shall have the meaning set forth in Section 11.1(a)(ii).
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Eligible Tender Offer means a tender offer by the Trust as described in Article IX, Section 5.
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Examples of Eligible Tender Offer in a sentence

  • Notwithstanding any other provision in this Declaration of Trust to the contrary, the Trust may conduct an Eligible Tender Offer upon the affirmative vote of a majority of the Trustees or by an instrument signed by a majority of the Trustees, without a vote of the Shareholders of the Trust.

  • Notwithstanding any other provision in this Declaration or the By-Laws, if the Trust completes an Eligible Tender Offer (as defined below), this Section 3 of Article VIII may be amended by the affirmative vote of a majority of the Trustees or by an instrument signed by a majority of the Trustees, without a vote of the Shareholders of the Trust, to eliminate the Termination Date and, if applicable, the Extended Termination Date, and cause the Trust to have a perpetual existence.

  • If the payment for properly tendered Shares would result in the Trust’s net assets totaling below $200 million (the “Dissolution Threshold”), the Eligible Tender Offer will be canceled, no Shares will be repurchased pursuant to the Eligible Tender Offer, and the Trust will dissolve as scheduled in accordance with clause (a) of this Section 11.

  • Notwithstanding any other provision in this Declaration to the contrary, the Trust may conduct an Eligible Tender Offer upon the affirmative vote of a majority of the Trustees or by an instrument signed by a majority of the Trustees, without a vote of the Shareholders of the Trust.

  • Notwithstanding any other provision in this Declaration or the By-Laws, if the Trust completes an Eligible Tender Offer (as defined below), this Section 2 of Article IX may be amended by the affirmative vote of a majority of the Trustees or by an instrument signed by a majority of the Trustees, without a vote of the Shareholders of the Trust, to eliminate the Termination Date and, if applicable, the Extended Termination Date, and cause the Trust to have a perpetual existence.

  • Following the consummation of an Eligible Tender Offer, the Board of Trustees may, by a Board Action Vote, and without Shareholder approval, amend this Amended and Restated Agreement and Declaration of Trust to eliminate the Dissolution Date or the Extended Dissolution Date (as the case may be) and provide that the Trust shall have a perpetual term, subject to the ability of the Shareholders or the Board of Trustees to dissolve the Trust as provided in Section 11.1(b).

  • If an Eligible Tender Offer is conducted and the payment for properly tendered Shares would result in the Trust’s net assets totaling greater than or equal to the Dissolution Threshold, all common Shares properly tendered and not withdrawn will be purchased by the Trust pursuant to the terms of the Eligible Tender Offer.

  • If the payment for properly tendered shares would result in the Trust’s net assets totaling less than $200 million (the “Termination Threshold”), the Eligible Tender Offer shall be canceled, no Shares will be repurchased pursuant to the Eligible Tender Offer, and the Trust will dissolve as scheduled in accordance with Section 3(b) of this Article VIII.

  • Notwithstanding any other provision in this Declaration of Trust to the contrary, the Trust may conduct an Eligible Tender Offer upon the affirmative vote of a majority of the Trustees or by an instrument signed by a majority of the Trustees, without a vote of the shareholders of the Trust.

  • If an Eligible Tender Offer is conducted and the payment for properly tendered Shares would result in the Trust’s net assets totaling greater than or equal to the Termination Threshold, all Shares properly tendered and not withdrawn will be purchased by the Trust pursuant to the terms of the Eligible Tender Offer.