Common use of Termination of Voting Rights Clause in Contracts

Termination of Voting Rights. Except as otherwise provided herein or in the Exchangeable Share Provisions, all of the rights of a Beneficiary with respect to the Beneficiary Votes exercisable in respect of the Exchangeable Shares held by such Beneficiary, including the right to instruct the Trustee as to the voting of or to vote personally such Beneficiary Votes, shall be deemed to be surrendered by the Beneficiary to Acquiror, and such Beneficiary Votes and the Voting Rights represented thereby shall cease and be terminated immediately, upon the delivery by such Beneficiary to the Trustee of the certificates representing such Exchangeable Shares in connection with the exercise by the Beneficiary of the Exchange Right or upon the occurrence of the automatic exchange of Exchangeable Shares for Acquiror Shares, as specified in Article 5 (unless, in either case, Acquiror shall not have delivered the Exchangeable Share Consideration deliverable in exchange therefor to the Trustee for delivery to the Beneficiaries), or upon the redemption of Exchangeable Shares pursuant to Article 6 or Article 7 of the Exchangeable Share Provisions, or upon the effective date of the liquidation, dissolution or winding-up of the Corporation pursuant to Article 5 of the Exchangeable Share Provisions.

Appears in 1 contract

Samples: Stock Purchase Agreement (Surge Global Energy, Inc.)

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Termination of Voting Rights. Except as otherwise provided herein or in the Exchangeable Share Provisions, all of the rights of a Beneficiary Holder with respect to the Beneficiary Holder Votes exercisable in respect of the Exchangeable Shares held by such BeneficiaryHolder, including the right to instruct the Trustee as to the voting of or to vote personally such Beneficiary Holder Votes, shall be deemed to be surrendered by the Beneficiary Holder to AcquirorJAG, and such Beneficiary Holder Votes and the Voting Rights represented thereby shall cease and be terminated immediately, upon the delivery by such Beneficiary Holder to the Trustee of the certificates representing such Exchangeable Shares in connection with the exercise by the Beneficiary Holder of the Exchange Put Right or the Exchange Right or upon the occurrence of the automatic exchange of Exchangeable Shares for Acquiror Sharesshares of JAG Common Stock, as specified in Article 5 hereof (unless, unless in either case, Acquiror any case JAG or JAG Holdco shall not have delivered the Exchangeable Share Consideration deliverable in exchange therefor to the Trustee for delivery to the BeneficiariesHolders), or upon the redemption of Exchangeable Shares pursuant to Article 6 or Article 7 of the Exchangeable Share Provisions, or upon the effective date of the liquidation, dissolution or winding-up of ExchangeCo or any other distribution of the Corporation assets of ExchangeCo among its shareholders for the purpose of winding up its affairs pursuant to Article 5 of the Exchangeable Share Provisions, or upon the purchase of Exchangeable Shares from the holder thereof by JAG pursuant to the exercise by JAG of the Retraction Call Right, the Redemption Call Right or the Liquidation Call Right.

Appears in 1 contract

Samples: Voting and Exchange Trust Agreement (Jag Media Holdings Inc)

Termination of Voting Rights. Except as otherwise provided herein or in the Exchangeable Share Provisions, all of the rights of a Beneficiary Holder with respect to the Beneficiary Holder Votes exercisable in respect of the Exchangeable Shares held by such BeneficiaryHolder, including the right to instruct the Trustee as to the voting of or to vote personally such Beneficiary Holder Votes, shall be deemed to be surrendered by the Beneficiary Holder to AcquirorOSI, and such Beneficiary Holder Votes and the Voting Rights represented thereby shall cease and be terminated immediately, upon the delivery by such Beneficiary Holder to the Trustee of the certificates representing such Exchangeable Shares in connection with the exercise by the Beneficiary Holder of the Exchange Right or upon the occurrence of the automatic exchange of Exchangeable Shares for Acquiror Sharesshares of OSI Common Stock, as specified in Article 5 hereof (unless, unless in either case, Acquiror any case OSI or OSI ULC shall not have delivered the Exchangeable Share Consideration deliverable in exchange therefor to the Trustee for delivery to the BeneficiariesHolders), or upon the redemption of Exchangeable Shares pursuant to Article 6 or Article 7 of the Exchangeable Share Provisions, or upon the effective date of the liquidation, dissolution or winding-up of PTI Holdco or any other distribution of the Corporation assets of PTI Holdco among its shareholders for the purpose of winding up its affairs pursuant to Article 5 of the Exchangeable Share Provisions.Exchangeable

Appears in 1 contract

Samples: Voting and Exchange Trust Agreement (Oil States International Inc)

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Termination of Voting Rights. Except as otherwise provided herein or in the Exchangeable Share Provisions, all of the rights of a Beneficiary Holder with respect to the Beneficiary Holder Votes exercisable in respect of the Exchangeable Shares held by such BeneficiaryHolder, including the right to instruct the Trustee as to the voting of or to vote personally such Beneficiary Holder Votes, shall be deemed to be surrendered by the Beneficiary Holder to AcquirorCCo, and such Beneficiary Holder Votes and the Voting Rights represented thereby shall cease and be terminated immediately, upon the delivery by such Beneficiary Holder to the Trustee of the certificates representing such Exchangeable Shares in connection with the exercise by the Beneficiary Holder of the Exchange Put Right or upon the occurrence of the automatic exchange of Exchangeable Shares for Acquiror Sharesshares of CCo Common Stock, as specified in Article 5 hereof (unless, unless in either case, Acquiror any case CCo or CCo Holdco shall not have delivered the Exchangeable Share Consideration deliverable in exchange therefor to the Trustee for delivery to the BeneficiariesHolders), or upon the redemption of Exchangeable Shares pursuant to Article 6 or Article 7 of the Exchangeable Share Provisions, or upon the effective date of the liquidation, dissolution or winding-up of CCo Sub or any other distribution of the Corporation assets of CCo Sub among its shareholders for the purpose of winding up its affairs pursuant to Article 5 of the Exchangeable Share Provisions, or upon the purchase of Exchangeable Shares from the holder thereof by CCo pursuant to the exercise by CCo of the Retraction Call Right, the Redemption Call Right or the Liquidation Call Right.

Appears in 1 contract

Samples: Combination Agreement (Calpine Corp)

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