Common use of Distributions Other Than Cash Clause in Contracts

Distributions Other Than Cash. Whenever the distribution provided for in this Section 3 shall be payable in whole or in part in property other than cash, the value of any property distributed shall be the fair market value of such property as reasonably determined in good faith by the Board of Directors of the Corporation in a written resolution. All distributions of property other than cash made hereunder shall be made, to the maximum extent possible, pro rata with respect to each series and class of Preferred Stock and Common Stock in accordance with the liquidation amounts and preferences payable with respect to each such series and class.

Appears in 2 contracts

Samples: Agreement and Plan of Reorganization (Ibs Interactive Inc), Agreement and Plan of Reorganization (Infonautics Inc)

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Distributions Other Than Cash. Whenever the distribution provided for in this Section 3 B3 shall be payable in whole or in part in property other than cash, the value of any property distributed shall be the fair market value of such property as reasonably determined in good faith by the Board of Directors of the Corporation in a written resolutionCorporation. All distributions of property other than cash made hereunder shall be made, to the maximum extent possible, pro rata with respect to each series Series and class of Preferred Stock and Common Stock in accordance with the liquidation amounts and preferences payable with respect to each such series Series and class.

Appears in 1 contract

Samples: Preferred Stock Purchase Agreement (Emerge Interactive Inc)

Distributions Other Than Cash. Whenever the distribution provided for in this Section 3 C3 shall be payable in whole or in part in property other than cash, the value of any property distributed shall be the fair market value of such property as reasonably determined in good faith by the Board of Directors of the Corporation in a written resolutionCorporation. All distributions of property other than cash made hereunder shall be made, to the maximum extent possible, pro rata with respect to each series Series 36 37 and class of Preferred Stock and Common Stock in accordance with the liquidation amounts and preferences payable with respect to each such series Series and class.

Appears in 1 contract

Samples: Preferred Stock Purchase Agreement (Emerge Interactive Inc)

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Distributions Other Than Cash. Whenever the distribution provided for in this Section 3 shall be payable in whole or in part in property other than cash, the value of any property distributed shall be the fair market value of such property as reasonably determined in good faith by the Board of Directors of the Corporation in a written resolutionCorporation. All distributions of property other than cash made hereunder shall be made, to the maximum extent possible, pro rata with respect to each series and class of Preferred Stock and Common Stock in accordance with the liquidation amounts and preferences payable with respect to each such series and class.

Appears in 1 contract

Samples: Preferred Stock Purchase Agreement (Premier Research Worldwide LTD)

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