Common use of Dividends, Voting and Rights of Ownership Clause in Contracts

Dividends, Voting and Rights of Ownership. Any cash dividends paid out of current earnings and profits in respect of the Shareholders Indemnity Shares shall be distributed currently by Parent (or Parent's transfer agent) to the Shareholders and will not be available to satisfy the indemnification obligations of the Shareholders. The Shareholders will have the right to vote the Shareholders Indemnity Shares so long as such Shareholders Indemnity Shares are held in escrow and Parent will take all reasonable steps necessary to allow the exercise of such rights. While the Shareholders Indemnity Shares remain in the Escrow Agent's possession pursuant to this Agreement, the Shareholders will retain and will be able to exercise all incidents of ownership of such shares that are not inconsistent with the terms of this Agreement.

Appears in 3 contracts

Samples: Escrow Agreement (Andataco), Employment Agreement (Ipl Systems Inc), Escrow Agreement (Nichols Robert D)

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Dividends, Voting and Rights of Ownership. Any cash dividends, dividends paid out payable in property or other distributions of current earnings and profits any kind (except for Additional Shares) made in respect of the Shareholders Indemnity Escrowed Shares shall be distributed currently by Parent (or Parent's transfer agent) DPRC to the Shareholders and will not be available to satisfy the indemnification obligations of the Shareholders. The Shareholders will shall have the right to vote the Escrowed Shares deposited in the Escrow Account to the account of the Shareholders Indemnity Shares so long as during such Shareholders Indemnity time that the Escrowed Shares are held in escrow Escrow, and Parent will DPRC shall take all reasonable steps necessary to allow the exercise of such rights. While the Shareholders Indemnity Escrowed Shares remain in the Escrow Agent's possession pursuant to this Agreement, the Shareholders will retain and will shall be able to exercise all other incidents of ownership of such shares the Escrowed Shares that are not inconsistent with the terms of this and conditions hereof or the Merger Agreement.

Appears in 1 contract

Samples: Escrow Agreement (Lancashire Christopher W)

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Dividends, Voting and Rights of Ownership. Any cash dividends paid out of current earnings and profits in respect of the Shareholders Indemnity Escrow Shares shall be distributed currently by Parent (or Parent's transfer agent) to the Shareholders Stockholders and will not be available to satisfy the indemnification obligations of the ShareholdersStockholders. The Shareholders Stockholders will have the right to vote the Shareholders Indemnity Escrow Shares so long as such Shareholders Indemnity Escrow Shares are held in escrow and Parent will take all reasonable steps necessary to allow the exercise of such rights. While the Shareholders Indemnity Escrow Shares remain in the Escrow Agent's possession pursuant to this Agreement, the Shareholders Stockholders will retain and will be able to exercise all incidents of ownership of such shares that are not inconsistent with the terms of this Agreement.

Appears in 1 contract

Samples: Agreement and Plan of Merger (PMR Corp)

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