Common use of Deemed Non-Election Clause in Contracts

Deemed Non-Election. For the purposes hereof, a holder of shares of Company Common Stock who does not submit a Form of Election that is received by the Paying Agent prior to the Election Deadline (as defined in Section 2.1(k)) (the "No Election Shares") shall be deemed not to have made a Cash Election, Stock Election or Mixed Election. If Parent or the Paying Agent shall determine that any purported Election was not properly made, the shares subject to such improperly made Election shall be treated as No Election Shares. No Election Shares may be treated by the Company as Cash Election Shares or Stock Election Shares.

Deemed Non-Election. For the purposes hereof, a holder of shares of Company Common Conectiv Stock who does not submit a Form of Election that which is subsequently received by the Paying Exchange Agent prior to the Election Deadline (as defined in Section 2.1(k)) Date (the "No Non Election Shares") shall be deemed not to have made a Cash Election, Stock Election or Mixed Election. If Parent or the Paying Exchange Agent shall determine that any purported Election was not properly made, the shares subject to such improperly made Election shall be treated as No Non Election Shares. No Non Election Shares may be treated by the Company as Cash Election Shares or Stock Election Shares, as Parent shall determine.

Deemed Non-Election. For the purposes hereof, a holder of shares of Company Common Stock who does not submit a Form of Election that which is received by the Paying Exchange Agent prior to the Election Deadline (as defined in Section 2.1(k)) (the "No Election Shares") shall be deemed not to have made a Cash Election, Stock Election or Mixed Non-Election. If Parent or the Paying Exchange Agent shall determine that any purported Cash Election or Stock Election was not properly made, the shares subject to such improperly made purported Cash Election or Stock Election shall be treated as No Election Shares. No Election Shares may deemed to be treated by of no force and effect and the Company as shareholder making such purported Cash Election Shares or Stock Election Sharesshall for purposes hereof, be deemed to have made a Non-Election.

Deemed Non-Election. For the purposes hereof, a holder of shares of Company Common Stock who does not submit a Form of Election that is received by the Paying Agent prior to the Election Deadline (as defined in Section 2.1(k2.01(k)) (the "No Election Shares") shall be deemed not to have made a Cash Election, Stock Election or Mixed Election. If Parent or the Paying Agent shall determine that any purported Election was not properly made, the shares subject to such improperly made Election shall be treated as No Election Shares. No Election Shares may be treated by the Company Company, in its sole discretion, as Cash Election Shares or Stock Election Shares.

Deemed Non-Election. For the purposes hereof, a holder of shares of Company Common Stock who does not submit a Form of Election that is received by the Paying Agent prior to the Election Deadline (as defined in Section 2.1(k)) (the "No Election SharesNO ELECTION SHARES") shall be deemed not to have made a Cash Election, Stock Election or Mixed Election. If Parent or the Paying Agent shall determine that any purported Election was not properly made, the shares subject to such improperly made Election shall be treated as No Election Shares. No Election Shares may be treated by the Company as Cash Election Shares or Stock Election Shares.

Deemed Non-Election. For the purposes hereof, a holder of shares of Company Common Stock who does not submit a Form of Election that is received by the Paying Exchange Agent prior to the Election Deadline (as defined in Section 2.1(k)) (the "No Election Shares") shall be deemed not to have made a Cash Election, Stock Election or Mixed Election. If Parent Buyer or the Paying Exchange Agent shall determine that any purported Election was not properly made, the shares subject to such improperly made Election shall be treated as No Election Shares. No Election Shares may be treated by the Company as Cash Election Shares or Stock Election Shares.

Deemed Non-Election. For the purposes hereof, a holder of shares ------------------- of Company Common Stock who does not submit a Form of Election that is received by the Paying Agent prior to the Election Deadline (as defined in Section 2.1(k2.01(k)) (the "No Election Shares") shall be deemed not to have made a Cash Election, Stock Election or Mixed Election. If Parent or the Paying Agent shall determine that any purported Election was not properly made, the shares subject to such improperly made Election shall be treated as No Election Shares. No Election Shares may be treated by the Company Company, in its sole discretion, as Cash Election Shares or Stock Election Shares.