Lock Price definition

Lock Price shall have the meaning set forth in the Stock Agreement.

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Lock Price means the Market Price as of the Closing Date, provided, however, that in the event that, at any time during the period between December 30, 1997 and the Settlement Date, the Corporation or the Trust effects any reclassification, stock split or stock dividend with respect to their stock, any change or conversion of stock into other securities, or any other dividend or distribution with respect to the Paired Shares, other than (i) dividends contemplated by the Starwood Lodging Disclosure in effect as of December 30, 1997, or (ii) dividends in the aggregate not to exceed the greater of (a) the current rate (as of December 30, 1997) of their dividends (together with any increases in such rate in the ordinary course) and (b) the Trust's "real estate investment taxable income" (as such term is defined for purposes of the Internal Revenue Code) without regard to any net capital gains or the deduction for dividends paid, appropriate and proportionate adjustments shall be made to the Lock Price.

Lock Price means $53.75 per Paired Share if the Closing Date occurs on or before the 60th day after seven Business Days after January 15, 1998 (or thereafter because of a default by the Trust or the Corporation), and the Market Price as of the Closing Date if the Closing Date occurs thereafter for any reason other than a default by the Trust or the Corporation, provided, however, that in the event that, at any time during the period between December 30, 1997 and the Settlement Date, the Corporation or the Trust effects any reclassification, stock split or stock dividend with respect to their stock, any change or conversion of stock into other securities, or any other dividend or distribution with respect to the Paired Shares, other than (i) dividends contemplated by the Starwood Lodging Disclosure in effect as of December 30, 1997, or (ii) dividends in the aggregate not to exceed the greater of (a) the current rate (as of December 30, 1997) of their dividends (together with any increases in such rate in the ordinary course) and (b) the Trust's "real estate investment taxable income" (as such term is defined for purposes of the Internal Revenue Code) without regard to any net capital gains or the deduction for dividends paid, appropriate and proportionate adjustments shall be made to the Lock Price.

Examples of Lock Price in a sentence

• Starwood Lodging shall deliver to Stock Purchaser on the Closing Date Paired Shares in an amount equal to the Equity Value divided by the Lock Price.

• On the Settlement Date, Starwood Lodging shall pay to Stock Purchaser in cash or other immediately available funds an amount equal to the amount, if any, by which the Lock Price exceeds the Market Price as of the Settlement Date, multiplied by the number of Paired Shares delivered by Starwood Lodging to Stock Purchaser hereunder.

• If any portion of the Equity Purchase Price cannot be paid in Paired Shares on account of the Ownership Limitation, a cash payment in an amount equal to the product of (a) the number of Paired Shares which are not delivered hereunder or under the Stock Agreement because of the Ownership Limitation and (b) the Lock Price (the "Overage Cash Payment") shall be paid in cash or other immediately available funds.

More Definitions of Lock Price

Lock Price shall have the meaning set forth in the Stock Agreement. 6 "Losses" shall mean any and all losses, liabilities, obligations, damages, claim or expense, including without limitation, reasonable attorneys' and accountants' fees and disbursements related thereto.