Common use of Distributions with Respect to Undistributed Shares Clause in Contracts

Distributions with Respect to Undistributed Shares. No dividends or other distributions declared after the Effective Time with respect to Parent Common Stock shall be paid with respect to any shares of Parent Common Stock that are not able to be distributed by the Agent promptly after the Effective Time, whether due to a legal impediment to such distribution or otherwise. Subject to applicable Law, following the distribution of any such previously undistributed shares of Parent Common Stock, there shall be paid to the Eligible Holder of such shares of Parent Common Stock, without interest, (i) at the time of the distribution, the amount of cash payable in lieu of a fractional share of Parent Common Stock to which such Eligible Holder is entitled pursuant to Section 4.02(c) and the amount of dividends or other distributions with a record date after the Effective Time theretofore paid with respect to such whole shares of Parent Common Stock and (ii) at the appropriate payment date, the amount of dividends or other distributions with a record date after the Effective Time but prior to the distribution of such whole shares of Parent Common Stock and a payment date subsequent to the distribution of such whole shares of Parent Common Stock. In no event shall the Agent have the right to vote any shares of Parent Common Stock held by the Agent.

Appears in 4 contracts

Samples: Transaction Agreement (Weyerhaeuser Real Estate Co), Transaction Agreement (Weyerhaeuser Co), Transaction Agreement (Weyerhaeuser Co)

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Distributions with Respect to Undistributed Shares. No dividends or other distributions declared or made after the Effective Time with respect to Parent Company Common Stock with a record date after the Effective Time shall be paid with respect to any shares of Parent Company Common Stock that are have not able to be been distributed by the Agent promptly after the Effective Time, whether due to a legal impediment to such distribution or otherwise. Subject to the effect of applicable LawLaws, following the distribution of any such previously undistributed shares of Parent Company Common Stock, there shall be paid to the Eligible Holder record holder of such shares of Parent Company Common Stock, without interest, interest (i) at the time of the distribution, the amount of cash payable in lieu of a fractional share shares of Parent Company Common Stock to which such Eligible Holder holder is entitled pursuant to Section 4.02(c) 3.3 and the amount of dividends or other distributions with a record date after the Effective Time theretofore paid with respect to such whole shares of Parent Company Common Stock and (ii) at the appropriate payment datedate therefor, the amount of dividends or other distributions with a record date after the Effective Time but prior to the distribution of such whole shares of Parent Common Stock and a payment date subsequent to the distribution of such shares payable with respect to such whole shares of Parent Company Common Stock. In no event shall the Agent have the right to vote any shares of Parent Common Stock held by the Agent.

Appears in 3 contracts

Samples: Merger Agreement (Fairpoint Communications Inc), Merger Agreement (Fairpoint Communications Inc), Merger Agreement

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Distributions with Respect to Undistributed Shares. No dividends or other distributions declared or made after the Effective Time with respect to Parent Company Common Stock with a record date after the Effective Time shall be paid with respect to any shares of Parent Company Common Stock that are have not able to be been distributed by the Agent promptly after the Effective Time, whether due to a legal impediment to such distribution or otherwise. Subject to the effect of applicable LawLaws, following the distribution of any such previously undistributed shares of Parent Company Common Stock, there shall be paid to the Eligible Holder record holder of such shares of Parent Company Common Stock, without interest, interest (i) at the time of the such distribution, the amount of cash payable in lieu of a fractional share shares of Parent Company Common Stock to which such Eligible Holder holder is entitled pursuant to Section 4.02(c) 3.3 and the amount of dividends or other distributions with a record date after the Effective Time theretofore paid with respect to such whole shares of Parent Company Common Stock and (ii) at the appropriate payment datedate therefor, the amount of dividends or other distributions with a record date after the Effective Time but prior to the distribution of such whole shares of Parent Common Stock and a payment date subsequent to the distribution of such shares payable with respect to such whole shares of Parent Company Common Stock. In no event shall the Agent have the right to vote any shares of Parent Common Stock held by the Agent.

Appears in 2 contracts

Samples: Merger Agreement (Verizon Communications Inc), Merger Agreement (Frontier Communications Corp)

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