Common use of Certain Rights Following a Remarketing Clause in Contracts

Certain Rights Following a Remarketing. Following a Remarketing Settlement Date and a Redemption or exercise of the Warrants (including the delivery of all shares of Common Stock pursuant to the exercise of a Warrant or the payment of the Warrant Value payable upon the related Redemption and the payment of any amounts payable upon the related Remarketing), a Unit shall thereafter represent the right to receive any excess proceeds from the Remarketing, if any; provided, however, that in the case of a "Failed Remarketing" under the Declaration, a Unit shall thereafter represent the right to receive the Preferred Securities forming a part of such Unit, containing the terms as provided in the Declaration (or if the Debentures have been distributed upon liquidation of the Trust, the Debentures).

Appears in 5 contracts

Samples: Unit Agreement (New York Community Bancorp Inc), Unit Agreement (New York Community Bancorp Inc), Unit Agreement (New York Community Bancorp Inc)

AutoNDA by SimpleDocs

Certain Rights Following a Remarketing. Following a Remarketing Settlement Date and a Redemption or exercise of the Warrants (including the delivery of all shares of Common Stock pursuant to the exercise of a Warrant or the payment of the Warrant Value payable upon the related Redemption and the payment of any amounts payable upon the related Remarketing), a Unit shall thereafter represent the right to receive any excess proceeds from the Remarketing, if any; provided, however, that in the case of a "β€œFailed Remarketing" ” under the Declaration, a Unit shall thereafter represent the right to receive the Preferred Securities forming a part of such Unit, containing the terms as provided in the Declaration (or if the Debentures have been distributed upon liquidation of the Trust, the Debentures).

Appears in 1 contract

Samples: Unit Agreement (New York Community Bancorp Inc)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.