Common use of Changes Affecting Preferred Shares and Reclassifications Clause in Contracts

Changes Affecting Preferred Shares and Reclassifications. Recapitalization, etc. --------------------------------------------------------------------------- Upon any change in par or stated value, split-up, combination or any other reclassification of Preferred Shares, or upon any recapitalization, reorganization, merger, amalgamation or consolidation affecting the Company or to which it is a party or sale of all or substantially all of the Company's assets, the Depositary shall, upon the instructions of the Company: (i) make such adjustments in (a) the fraction of an interest represented by one Preference Share in one Preferred Share and (b) the ratio of the redemption price per Preference Share to the redemption price of a Preferred Share, in each case as may be required by or as is consistent with the provisions of the Designating Amendment to fully reflect the effects of such change in liquidation value, split-up, combination or other reclassification of Shares, or of such recapitalization, reorganization, merger, consolidation or sale and (ii) treat any shares or other securities or property (including cash) that shall be received by the Depositary in exchange for or upon conversion of or in respect of the Preferred Shares as new deposited property under this Deposit Agreement, and Preference Receipts then outstanding shall thenceforth represent the proportionate interests of holders thereof or the new deposited property so received in exchange for or upon conversion or in respect of such Preferred Shares. In any such case the Depositary may, in its discretion, with approval of the Company, execute and deliver additional Preference Receipts, or may call for the surrender of all outstanding Preference Receipts to be exchanged for new Preference Receipts specifically describing such new deposited property. Anything to the contrary herein notwithstanding, holders of Preference Receipts shall have the right from and after the effective date of any such change in par or stated value, split-up, combination or other reclassification of the Preferred Shares or any such recapitalization, reorganization, merger, amalgamation or consolidation or sale of substantially all the assets of the Company to surrender such Preference Receipts to the Depositary with instructions to convert, exchange or surrender the Preferred Shares represented thereby only into or for, as the case may be, the kind and amount of shares and other securities and property and cash into which the deposited Preferred Shares evidenced by such Preference Receipts might have been converted or for which such Preferred Shares might have been exchanged or surrendered immediately prior to the effective date of such transaction. The Company shall cause effective provision to be made in the charter of the resulting or surviving corporation (if other than the Company) for protection of such rights as may be applicable upon exchange of the deposited Preferred Shares for securities or property or cash of the surviving corporation in connection with the transactions set forth above. The Company shall cause any such surviving corporation (if other than the Company) expressly to assume the obligations of the Company hereunder.

Appears in 1 contract

Samples: Deposit Agreement (Duke Realty Investments Inc)

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Changes Affecting Preferred Shares and Reclassifications. RecapitalizationRecapitalizations, etc. --------------------------------------------------------------------------- Upon any change in par or stated value, split-up, ---------------------- combination or any other reclassification of Preferred Shares, or upon any recapitalization, reorganization, merger, amalgamation merger or consolidation affecting the Company or to which it is a party or sale of all or substantially all of the Company's assets, the Depositary shall, upon the instructions of the Company: , (i) make such adjustments in (a) the fraction of an interest represented by one Preference Depositary Share in one Preferred Share and (b) the ratio of the redemption price per Preference Depositary Share to the redemption price of a Preferred Share, in each case as may be required by or as is consistent with the provisions of the Designating Amendment to the Declaration and the Declaration of Trust to fully reflect the effects of such change in liquidation par or stated value, split-up, combination or other reclassification of Sharesreclassification, or of such recapitalization, reorganization, merger, consolidation or sale and (ii) treat any shares or other securities or property (including cash) that shall be received by the Depositary in exchange for or upon conversion of or in respect of the Preferred Shares as new deposited property under this Deposit Agreement, and Preference Receipts then outstanding shall thenceforth thereafter represent the proportionate interests of holders thereof or in the new deposited property so received in exchange for or upon conversion or in respect of such Preferred Shares. In any such case the Depositary may, in its discretion, with the approval of the Company, execute and deliver additional Preference Receipts, or may call for the surrender of all outstanding Preference Receipts to be exchanged for new Preference Receipts specifically describing such new deposited property. Anything to the contrary herein notwithstanding, holders of Preference Receipts shall have the right from and after the effective date of any such change in par or stated value, split-up, combination or other reclassification of the Preferred Shares or any such recapitalization, reorganization, merger, amalgamation merger or consolidation or sale of substantially all the assets of the Company to surrender such Preference Receipts to the Depositary with instructions to convert, exchange or surrender the Preferred Shares represented thereby only into or for, as the case may be, the kind and amount of shares and other securities and property and cash into which the deposited Preferred Shares evidenced by such Preference Receipts might have been converted or for which such Preferred Shares might have been exchanged or surrendered immediately prior to the effective date of such transaction. The Company shall cause an effective provision to be made in the corporate charter of the resulting or surviving corporation (if other than the Company) for protection of such rights as may be applicable upon exchange of the deposited Preferred Shares for securities or property or cash of the surviving corporation in connection with the transactions set forth above. The Company shall cause any such surviving corporation (if other than the Company) expressly to assume the obligations of the Company hereunder.

Appears in 1 contract

Samples: Deposit Agreement (Weingarten Realty Investors /Tx/)

Changes Affecting Preferred Shares and Reclassifications. Recapitalization, etcEtc. --------------------------------------------------------------------------- Upon any change in par or stated value, split-up, combination or any other reclassification of Preferred Shares, or upon any recapitalization, reorganization, merger, amalgamation or consolidation affecting the Company or to which it is a party or sale of all or substantially all of the Company's assets, the Depositary shall, upon the instructions of the Company: (i) make such adjustments in (a) the fraction of an interest represented by one Preference Depositary Share in one Preferred Share and (b) the ratio of the redemption price per Preference Depositary Share to the redemption price of a Preferred Share, in each case as may be required by by, or as is consistent with with, the provisions of the Designating Amendment Articles Supplementary to fully reflect the effects of such change in liquidation value, split-up, combination or other reclassification of Shares, or of such recapitalization, reorganization, merger, consolidation or sale and (ii) treat any shares or other securities or property (including cash) that shall be received by the Depositary in exchange for or upon conversion of or in respect of the Preferred Shares as new deposited property under this Deposit Agreement, and Preference Receipts then outstanding shall thenceforth represent the proportionate interests of holders thereof or the new deposited property so received in exchange for or upon conversion of or in respect of such Preferred Shares. In any such case the Depositary may, in its discretion, with approval of the Company, execute and deliver additional Preference Receipts, or may call for the surrender of all outstanding Preference Receipts to be exchanged for new Preference Receipts specifically describing such new deposited property. Anything to the contrary herein notwithstanding, holders of Preference Receipts shall have the right from and after the effective date of any such change in par or stated value, split-up, combination or other reclassification of the Preferred Shares or any such recapitalization, reorganization, merger, amalgamation or consolidation or sale of substantially all the assets of the Company to surrender such Preference Receipts to the Depositary with instructions to convert, exchange or surrender the Preferred Shares represented thereby only into or for, as the case may be, the kind and amount of shares and other securities and property and cash into which the deposited Preferred Shares evidenced by such Preference Receipts might have been converted or for which such Preferred Shares might have been exchanged or surrendered immediately prior to the effective date of such transaction. The Company shall cause effective provision to be made in the charter of the resulting or surviving corporation (if other than the Company) for protection of such rights as may be applicable upon exchange of the deposited Preferred Shares for securities or property or cash of the surviving corporation in connection with the transactions set forth above. The Company shall cause any such surviving corporation (if other than the Company) expressly to assume the obligations of the Company hereunder.

Appears in 1 contract

Samples: Deposit Agreement (FelCor Lodging Trust Inc)

Changes Affecting Preferred Shares and Reclassifications. Recapitalization, etc. --------------------------------------------------------------------------- Upon any change in par or stated value, split-up, combination or any other reclassification of Preferred Shares, or upon any recapitalization, reorganization, merger, amalgamation or consolidation affecting the Company or to which it is a party or sale of all or substantially all of the Company's assets, the Depositary shall, upon the instructions of the Company: ; (i) make such adjustments in (a) the fraction of an interest represented by one Preference Depositary Share in one Preferred Share and (b) the ratio of the redemption price consideration per Preference Depositary Share to the redemption price consideration of a Preferred Share, in each case as may be required by or as is consistent with the provisions of the Designating Amendment Articles Supplementary to fully reflect the effects of such change in liquidation value, split-up, combination or other reclassification of Shares, or of such recapitalization, reorganization, merger, consolidation or sale and (ii) treat any shares or other securities or property (including cash) that shall be received by the Depositary in exchange for or upon conversion of or in respect of the Preferred Shares as new deposited property under this Deposit Agreement, and Preference Receipts then outstanding shall thenceforth represent the proportionate interests of holders thereof or of the new deposited property so received in exchange for or upon conversion or in respect of such Preferred Shares. In any such case the Depositary may, in its discretion, with the approval of the Company, execute and deliver additional Preference Receipts, or may call for the surrender of all outstanding Preference Receipts to be exchanged for new Preference Receipts specifically describing such new deposited property. Anything to the contrary herein notwithstanding, holders of Preference Receipts shall have the right from and after the effective date of any such change in par or stated value, split-up, combination or other reclassification of the Preferred Shares or any such recapitalization, reorganization, merger, amalgamation or consolidation or sale of substantially all the the, assets of the Company to surrender such Preference Receipts to the Depositary with instructions to convert, exchange or surrender the Preferred Shares represented thereby only into or for, as the case may be, the kind and amount of shares and other securities and property and cash into which the deposited Preferred Shares evidenced by such Preference Receipts might have been converted or for which such Preferred Shares might have been exchanged or surrendered immediately prior to the effective date of such transaction. The Company shall cause effective provision to be made in the charter of the resulting or surviving corporation (if other than the Company) for protection of such rights as may be applicable upon exchange of the deposited Preferred Shares for securities or property or cash of the surviving corporation in connection with the transactions set forth above. The Company shall cause any such surviving corporation (if other than the Company) expressly to assume the obligations of the Company hereunder. Services performed by the Depositary hereunder shall be subject to the fee, charges and expenses provision of Section 5.7 of this Deposit Agreement.

Appears in 1 contract

Samples: Deposit Agreement (Equity Residential)

Changes Affecting Preferred Shares and Reclassifications. RecapitalizationRecapitalizations, etc. --------------------------------------------------------------------------- Upon any change in par or stated value, split-up, combination or any other reclassification of Preferred Shares, or upon any recapitalization, reorganization, merger, amalgamation merger or consolidation affecting the Company or to which it is a party or sale of all or substantially all of the Company's assets, the Depositary shall, upon the written instructions of the Company: , (i) make such adjustments in (a) the fraction of an interest represented by one Preference Depositary Share in one Preferred Share and (b) the ratio of the redemption price per Preference Depositary Share to the redemption price of a Preferred Share, in each case as may be required by or as is consistent with the provisions of the Designating Amendment to fully reflect the effects of such change in liquidation par or stated value, split-up, combination or other reclassification of Sharesreclassification, or of such recapitalization, reorganization, merger, consolidation or sale and (ii) treat any shares or other securities or property (including cash) that shall be received by the Depositary in exchange for or upon conversion of or in respect of the Preferred Shares as new deposited property under this Deposit Agreement, and Preference Receipts then outstanding shall thenceforth thereafter represent the proportionate interests of holders thereof or in the new deposited property so received in exchange for or upon conversion or in respect of such Preferred Shares. In any such case the Depositary may, in its discretion, with the written approval of the Company, execute and deliver additional Preference Receipts, or may call for the surrender of all outstanding Preference Receipts to be exchanged for new Preference Receipts specifically describing such new deposited property. Anything to the contrary herein notwithstanding, holders of Preference Receipts shall have the right from and after the effective date of any such change in par or stated value, split-up, combination or other reclassification of the Preferred Shares or any such recapitalization, reorganization, merger, amalgamation merger or consolidation or sale of substantially all the assets of the Company to surrender such Preference Receipts to the Depositary with instructions to convert, exchange or surrender the Preferred Shares represented thereby only into or for, as the case may be, the kind and amount of shares and other securities and property and cash into which the deposited Preferred Shares evidenced by such Preference Receipts might have been converted or for which such Preferred Shares might have been exchanged or surrendered immediately prior to the effective date of such transaction. The Company shall cause an effective provision to be made in the corporate charter of the resulting or surviving corporation (if other than the Company) for protection of such rights as may be applicable upon exchange of the deposited Preferred Shares for securities or property or cash of the surviving corporation in connection with the transactions set forth above. The Company shall cause any such surviving corporation (if other than the Company) expressly to assume the obligations of the Company hereunder.

Appears in 1 contract

Samples: Deposit Agreement (Weingarten Realty Investors /Tx/)

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Changes Affecting Preferred Shares and Reclassifications. Recapitalization, etc. --------------------------------------------------------------------------- Upon any change in par the liquidation preference or stated value, upon any split-up, combination or any other reclassification of Preferred Shares, or upon any recapitalization, reorganization, merger, amalgamation merger or consolidation affecting the Company or to which it is a party or sale of all or substantially all of the Company's assets, the Depositary shall, upon the instructions of the Company: ; (i) make such adjustments in (a) the fraction of an interest represented by one Preference Depositary Share in one Preferred Share and (b) the ratio of the redemption price per Preference Depositary Share to the redemption price of a Preferred Share, in each case as may be required by or as is consistent with the provisions of the Designating Amendment to fully reflect the effects of such change in liquidation valuepreference, split-up, combination or of other reclassification of Preferred Shares, or of such recapitalization, reorganization, merger, consolidation or sale and (ii) treat any shares or other securities or property (including cash) that shall be received by the Depositary in exchange for or upon conversion of or in respect of the Preferred Shares as new deposited property under this Deposit Agreement, and Preference Receipts then outstanding shall thenceforth represent the proportionate interests of holders thereof or in the new deposited property so received in exchange for or upon conversion or in respect of such Preferred Shares. In any such case the Depositary may, in its discretion, with the approval of the Company, execute and deliver additional Preference Receipts, or may call for the surrender of all outstanding Preference Receipts to be exchanged for new Preference Receipts specifically describing such new deposited property. Anything to the contrary herein notwithstanding, holders of Preference Receipts shall have the right from and after the effective date of any such change in par or stated valuethe liquidation preference, split-up, combination or other reclassification of the Preferred Shares or any such recapitalization, reorganization, merger, amalgamation merger or consolidation or sale of all or substantially all the assets of the Company Company, to surrender such Preference Receipts to the Depositary with instructions to convert, exchange or surrender the Preferred Shares represented thereby only into or for, as the case may be, the kind and amount of shares and other securities and property and cash into which the deposited Preferred Shares evidenced by such Preference Receipts might have been converted or for which such Preferred Shares might have been exchanged or surrendered immediately prior to the effective date of such transaction. The Company shall cause effective provision to be made in the charter governing instrument of the resulting or surviving corporation business entity (if other than the Company) for protection of such rights as may be applicable upon exchange of the deposited Preferred Shares for securities or property or cash of or the surviving corporation business entity in connection with the transactions set forth above. The Company shall cause any such surviving corporation business entity (if other than the Company) expressly to assume the obligations of the Company hereunder.

Appears in 1 contract

Samples: Deposit Agreement (New Plan Realty Trust)

Changes Affecting Preferred Shares and Reclassifications. Recapitalization, etc. --------------------------------------------------------------------------- Upon any change in par the liquidation preference or stated value, upon any split-up, combination or any other reclassification of Preferred Shares, or upon any recapitalization, reorganization, merger, amalgamation merger or consolidation affecting the Company or to which it is a party or sale of all or substantially all of the Company's assets, the Depositary shall, upon the instructions of the Company: ; (i) make such adjustments in (a) the fraction of an interest represented by one Preference Depositary Share in one Preferred Share and (b) the ratio of the redemption price per Preference Depositary Share to the redemption price of a Preferred Share, in each case as may be required by or as is consistent with the provisions of the Designating Amendment Certificate of Designation to fully reflect the effects of such change in liquidation valuepreference, split-up, combination or of other reclassification of Preferred Shares, or of such recapitalization, reorganization, merger, consolidation or sale and (ii) treat any shares or other securities or property (including cash) that shall be received by the Depositary in exchange for or upon conversion of or in respect of the Preferred Shares as new deposited property under this Deposit Agreement, and Preference Receipts then outstanding shall thenceforth represent the proportionate interests of holders thereof or in the new deposited property so received in exchange for or upon conversion or in respect of such Preferred Shares. In any such case the Depositary may, in its discretion, with the approval of the Company, execute and deliver additional Preference Receipts, or may call for the surrender of all outstanding Preference Receipts to be exchanged for new Preference Receipts specifically describing such new deposited property. Anything to the contrary herein notwithstanding, holders of Preference Receipts shall have the right from and after the effective date of any such change in par or stated valuethe liquidation preference, split-up, combination or other reclassification of the Preferred Shares or any such recapitalization, reorganization, merger, amalgamation merger or consolidation or sale of all or substantially all the assets of the Company Company, to surrender such Preference Receipts to the Depositary with instructions to convert, exchange or surrender the Preferred Shares represented thereby only into or for, as the case may be, the kind and amount of shares and other securities and property and cash into which the deposited Preferred Shares evidenced by such Preference Receipts might have been converted or for which such Preferred Shares might have been exchanged or surrendered immediately prior to the effective date of such transaction. The Company shall cause effective provision to be made in the charter governing instrument of the resulting or surviving corporation business entity (if other than the Company) for protection of such rights as may be applicable upon exchange of the deposited Preferred Shares for securities or property or cash of or the surviving corporation business entity in connection with the transactions set forth above. The Company shall cause any such surviving corporation business entity (if other than the Company) expressly to assume the obligations of the Company hereunder.

Appears in 1 contract

Samples: Deposit Agreement (New Plan Realty Trust)

Changes Affecting Preferred Shares and Reclassifications. RecapitalizationRecapitalizations, etc. --------------------------------------------------------------------------- Upon any change in par or stated value, split-up, combination or any other reclassification of Preferred Shares, or upon any recapitalization, reorganization, merger, amalgamation or consolidation affecting the Company or to which it is a party or sale of all or substantially all of the Company's assets, the Depositary shall, upon the instructions of the Company: , (i) make such adjustments in (a) the fraction of an interest represented by one Preference Depositary Share in one Preferred Share and (b) the ratio of the redemption price per Preference Depositary Share to the redemption price of a Preferred Share, in each case as may be required by or as is consistent with the provisions of the Designating Amendment Articles Supplementary to fully reflect the effects of such change in liquidation valuepreference, split-up, combination or other reclassification of Sharesshares, or of such recapitalization, reorganization, merger, amalgamation, consolidation or sale of all or substantially all of the Company's assets and (ii) treat any shares or other securities or property (including cash) that shall be received by the Depositary in exchange for or upon conversion of or in respect of the Preferred Shares as new deposited property under this Deposit Agreement, and Preference Receipts then outstanding shall thenceforth represent the proportionate interests of holders thereof or in the new deposited property so received in exchange for or upon conversion or in respect of such Preferred Shares. In any such case the Depositary may, in its discretion, with the approval of the Company, execute and deliver additional Preference Receipts, or may call for the surrender of all outstanding Preference Receipts to be exchanged for new Preference Receipts specifically describing such new deposited property. Anything to the contrary herein notwithstanding, holders of Preference Receipts shall have the right from and after the effective date of any such change in par or stated value, split-up, combination or other reclassification of the Preferred Shares or any such recapitalization, reorganization, merger, amalgamation or consolidation or sale of all or substantially all the assets of the Company Company's assets to surrender such Preference Receipts to the Depositary with instructions to convert, exchange or surrender the Preferred Shares represented thereby only into or for, as the case may be, the kind and amount of shares and other securities and property and cash into which the deposited Preferred Shares evidenced by such Preference Receipts might have been converted or for which such Preferred Shares might have been exchanged or surrendered immediately prior to the effective date of such transaction, subject to any subsequent change in par or stated value, split-up, combination or other reclassification or any subsequent recapitalization, reorganization, merger, amalgamation or consolidation or sale of substantially all the assets. The Company shall cause effective provision to be made in the charter of the resulting or surviving corporation (if other than the Company) for protection of such rights as may be applicable upon exchange of the deposited Preferred Shares for securities or property or cash of the surviving corporation in connection with the transactions set forth above. The Company shall cause any such surviving corporation (if other than the Company) expressly to assume the obligations of the Company hereunder.

Appears in 1 contract

Samples: Deposit Agreement (Colonial Properties Trust)

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