Automatic Exchange Right definition

Automatic Exchange Right has the meaning ascribed thereto in the Voting and Exchange Trust Agreement;

Automatic Exchange Right has the meaning ascribed thereto in Section 5.12(2);

Automatic Exchange Right means the benefit of the obligation of RG to effect the automatic exchange of Exchangeable Shares for RG Shares pursuant to Section 5.12.

Examples of Automatic Exchange Right in a sentence

• Bionik US hereby acknowledges receipt from the Trustee as trustee for and on behalf of the Beneficiaries of good and valuable consideration (and the adequacy thereof) for the grant of the Exchange Right and the Automatic Exchange Right by Bionik US to the Trustee.

• IBM Holdings, the Canadian Offeror and CIBC Mellon Trust Company (the “Trustee”) have entered into an Exchange Trust Agreement which provides holders of Exchangeable Shares with the Automatic Exchange Right and the Exchange Right described below, and IBM, IBM Holdings and the Canadian Offeror have entered into a Support Agreement to give effect to the provisions of the Exchangeable Shares.

• In so refusing, the Trustee may elect not to exercise any Voting Rights, Automatic Exchange Right or Exchange Right subject to such conflicting claims or demands and, in so doing, the Trustee shall not be or become liable to any person on account of such election or its failure or refusal to comply with any such conflicting claims or demands.

• Under the Voting and Exchange Trust Agreement, upon the liquidation, dissolution or winding-up of Exchangeco, PSION will be required to purchase each outstanding PSION Exchangeable Share and each holder will be required to sell all of its PSION Exchangeable Shares (such purchase and sale obligations are hereafter referred to as the "Automatic Exchange Right").

• Dutchco hereby acknowledges receipt from the Trustee as trustee for and on behalf of the Beneficiaries of good and valuable consideration (and the sufficiency thereof) for the grant of the Exchange Right and the Automatic Exchange Right by Dutchco to the Trustee.

More Definitions of Automatic Exchange Right

Automatic Exchange Right means the benefit of the obligation of Vivendi to effect the automatic exchange of Exchangeable Shares for Vivendi ADSs under section 4.12;

Automatic Exchange Right means the benefit of the obligation of MEC to effect the automatic exchange of MEC Class A Shares for Exchangeable Shares pursuant to section 3.11(c).

Automatic Exchange Right means the benefit of the obligation of Bionik US to effect the automatic exchange of Exchangeable Shares for Bionik US Shares pursuant to Section 5.12.

Automatic Exchange Right has the meaning set out in Section 5.3(2).

Automatic Exchange Right means the benefit of the obligation of SMTC, in the event of an SMTC Liquidation Event, to purchase all of the outstanding Exchangeable Shares (other than Exchangeable Shares held by SMTC or its Affiliates) from the holders thereof on the fifth Business Day prior to the effective date of any such SMTC Liquidation Event in exchange for shares of SMTC Common Stock, plus the aggregate Dividend Amount, pursuant to Section 5.11.

Automatic Exchange Right means the benefit of the obligation of RTO Acquiror to effect the automatic exchange of Exchangeable Shares for RTO Acquiror Shares pursuant to Section 5.12.

Automatic Exchange Right means the benefit of the obligation of Parent and Newco I to effect the automatic exchange of shares of Parent Common Stock for Exchangeable Shares pursuant to Section 5.13 hereof.