Common use of Certain Beneficial Owners Clause in Contracts

Certain Beneficial Owners. If any Person provides evidence satisfactory to the Board of Directors of the Corporation that such Person was, as of immediately prior to the public announcement of the execution of this Agreement, the Beneficial Owner of shares representing 20% or more of the Voting Power, neither such Person nor any of such Person's Affiliates or Associates shall be deemed an Acquiring Person solely by reason of such Person's beneficial ownership of such shares. Such Person shall be deemed an Acquiring Person in the event that such Person acquires beneficial ownership of any other shares of Common Stock than those referred to in the immediately preceding sentence, which other shares, when aggregated with any shares referred to in the immediately preceding sentence, represent more than 20% of the Voting Power.

Appears in 2 contracts

Samples: Rights Agreement (Pyramid Breweries Inc), Rights Agreement (Pyramid Breweries Inc)

AutoNDA by SimpleDocs

Certain Beneficial Owners. If any Person provides evidence satisfactory to the Board of Directors of the Corporation that such Person was, as of immediately prior to the public announcement of the execution of this Agreement, the Beneficial Owner of shares representing 2015% or more of the Voting Power, neither such Person nor any of such Person's Affiliates or Associates shall be deemed an Acquiring Person solely by reason of such Person's beneficial ownership of such shares. Such Person shall be deemed an Acquiring Person in the event that such Person acquires beneficial ownership of any other shares of Common Stock than those referred to in the immediately preceding sentence, which other shares, when aggregated with any shares referred to in the immediately preceding sentence, represent more than 2015% of the Voting Power.

Appears in 2 contracts

Samples: Rights Agreement (Washington Mutual Inc), Rights Agreement (Washington Mutual Inc)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!