Examples of Flip-in Event in a sentence
The New Nortel Board acting in good faith may, prior to the occurrence of the relevant Flip-in Event, waive the application of the New Nortel Rights Plan to a Flip-in Event that may occur by reason of a Take-over Bid made by means of a take-over bid circular to all holders of Voting Shares.
However, if the New Nortel Board waives the application of the New Nortel Rights Plan, the New Nortel Board shall be deemed to have waived the application of the New Nortel Rights Plan in respect of any other Flip-in Event occurring by reason of such a Take-over Bid made prior to the expiry of a bid for which a waiver is, or is deemed to have been, granted.
Where a take-over bid that is not a Permitted Bid is withdrawn or otherwise terminated after the Separation Time and prior to the occurrence of a Flip-in Event, the Board of Directors may elect to redeem all the outstanding Rights at the Redemption Price and reissue Rights, whereupon all the provisions of the Rights Plan shall continue to apply as if the Separation Time had not occurred and Rights certificates had not been mailed, and the Separation Time shall be deemed not to have occurred.
The New Nortel Board acting in good faith may, with prior shareholder approval, at any time prior to a Flip-in Event, elect to redeem all but not less than all of the then outstanding Rights at a redemption price of Cdn.