Exercise of Rights definition

Exercise of Rights. The Rights are not exercisable until the Distribution Date and until the Company has received all required regulatory approvals for the issuance of the Shares. The Rights will expire June 17, 2008 unless such date is extended or unless the Rights are earlier redeemed by the Company or exchanged for Shares, in each case as described below. Rights may not be transferred, directly or indirectly, (i) to any person who is, or, as a result of the transfer would be, the beneficial owner of 15% or more of the Rights (including Rights that are null and void as described below), or (ii) to any affiliate or associate of any such person. Any Right that is the subject of any such purported transfer shall be null and void without any further action, and thereafter may not be exercised by any person (including any subsequent transferee) for Shares or other assets pursuant to any provision of the Rights Agreement and shall no longer confer any rights upon any person. The Purchase Price payable, and the number of Shares or other securities or property issuable, upon exercise of the Rights are subject to adjustment from time to time to prevent dilution (i) in the event of a stock dividend on, or a subdivision, combination or reclassification of, the Shares, (ii) upon the grant to holders of the Shares of certain rights or warrants to subscribe for or purchase Shares at a price, or securities convertible into Shares with a conversion price, less than the then current market price of the Shares or (iii) upon the distribution to holders of the Shares of evidences of indebtedness or assets (excluding regular periodic cash dividends paid out of earnings or retained earnings or dividends payable in Shares) or of subscription rights or warrants (other than those referred to above). In the event that (i) the Company merges with or is involved in another business combination transaction with an Acquiring Person, (ii) 50% or more of its consolidated assets or earning power are sold to an Acquiring Person, (iii) an Acquiring Person acquires 25% or more of the Shares, or (iv) an Acquiring Person engages in one or more self- dealing transactions with the Company, then, proper provision will be made so that each holder of a Right will thereafter have the right to receive, upon the exercise thereof at the then current exercise price of the Right, that number of shares of common stock of the Company or of the acquiring company, as the case may be, which at the time of such transaction will...
Exercise of Rights. The Rights initially will be represented by the certificates evidencing the Common Stock and will not be exercisable, or transferable apart from the Common Stock, until the earliest to occur of:

Examples of Exercise of Rights in a sentence

  • Exercise of Rights and Powers-AMBAC may, in its absolute discretion, exercise or fail to exercise any option, vote, right, power or the like it may have as holder or registered owner of an Insured Instrument with respect to which it has made payment.

  • Rights and Remedies Cumulative; Delay or Omission in Exercise of Rights not a Waiver of Event of Default.

  • Any partial exchange shall be effected pro rata based on the number of Rights (other than Rights which have become void as provided in Section 7(e) (Exercise of Rights; Purchase Price; Expiration Date of Rights -- Termination of Acquiring Person's Rights)) held by each holder of Rights.

  • Underlying Securities Through Exercise of Rights Any acquisition or disposition of securities through the exercise of rights, options (including Wells Fargo & Co employee stock options), convertible bonds, or other instruments acquired in compliance with this Code.

  • Accordingly, this Rights Certificate and the Rights represented hereby may become null and void in the circumstances specified in Section 7(e) (Exercise of Rights; Purchase Price; Expiration Date of Rights -- Termination of Acquiring Person's Rights) of such Agreement.

More Definitions of Exercise of Rights

Exercise of Rights any loss or damage occurring as a result of its exercising, failing to exercise or purporting to exercise any Power under any Transaction Document; or
Exercise of Rights means the exercise of (or refraining from exercise of) any right or discretion by a Licensee under a BNFL Historic Contract or the agreement in writing by a Licensee of any future course of conduct, action, cost, rebate, or other matter with BNFL in accordance with the terms of a BNFL His toric Contract which will or is reasonably expected to give rise to an Incremental Historic Liability;
Exercise of Rights. Purchase Price:
Exercise of Rights shall have the meaning given such term in Section 6.C hereof.