Common use of Dividend Reinvestment Plan, Cash Option Purchase Plan, Stock Incentive Plan or Other Plan Clause in Contracts

Dividend Reinvestment Plan, Cash Option Purchase Plan, Stock Incentive Plan or Other Plan. Except as may otherwise be provided in this Article III, all amounts received or deemed received by the Corporation in respect of any dividend reinvestment plan, cash option purchase plan, stock incentive or other stock or subscription plan or agreement, either (a) shall be utilized by the Corporation to effect open market purchases of shares of Common Stock, or (b) if the Corporation elects instead to issue new shares of Common Stock with respect to such amounts, shall be contributed by the Corporation to the Partnership in exchange for additional Units. Upon such contribution, the Partnership will issue to the Corporation a number of Units equal to the number of new shares of Common Stock so issued.

Appears in 2 contracts

Samples: Limited Partnership Agreement (Penn Virginia Corp), Contribution Agreement (Penn Virginia Corp)

AutoNDA by SimpleDocs

Dividend Reinvestment Plan, Cash Option Purchase Plan, Stock Incentive Plan or Other Plan. Except as may otherwise be provided in this Article III, all amounts received or deemed received by the Corporation in respect of any dividend reinvestment plan, cash option purchase plan, stock incentive or other stock or subscription plan or agreement, either (a) shall be utilized by the Corporation to effect open market purchases of shares of Common Stock, or (b) if the Corporation elects instead to issue new shares of Common Stock with respect to such amounts, shall be contributed by the Corporation to the Partnership Company in exchange for additional Units. Upon such contribution, the Partnership Company will issue to the Corporation a number of Units equal to the number of new shares of Common Stock so issued.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Rice Energy Inc.)

AutoNDA by SimpleDocs

Dividend Reinvestment Plan, Cash Option Purchase Plan, Stock Incentive Plan or Other Plan. Except as may otherwise be provided in this Article III, all amounts received or deemed received by the Corporation in respect of any dividend reinvestment plan, cash option purchase plan, stock incentive or other stock or subscription plan or agreement, either (a) shall be utilized by the Corporation to effect open market purchases of shares of Common Stock, or (b) if the Corporation elects instead to issue new shares of Common Stock with respect to such amounts, shall be contributed by the Corporation to the Partnership Company in exchange for additional Common Units. Upon such contribution, the Partnership Company will issue to the Corporation a number of Common Units equal to the number of new shares of Common Stock so issued.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Liberty Tax, Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!