Common use of Early Settlement Upon a Fundamental Change Clause in Contracts

Early Settlement Upon a Fundamental Change. (a) If a Fundamental Change occurs and a Holder elects to settle its Purchase Contracts early in connection with such Fundamental Change, such Holder shall receive a number of shares of Common Stock (or cash, securities or other property) based on the Fundamental Change Early Settlement Rate (the “Fundamental Change Early Settlement Right”). An Early Settlement shall be deemed for these purposes to be “in connection with” such Fundamental Change if the Holder delivers an Early Settlement Notice to the Purchase Contract Agent, and otherwise satisfies the requirements for effecting Early Settlement of its Purchase Contracts, during the period beginning on, and including, the Effective Date of the Fundamental Change and ending on, and including, the 30th Business Day thereafter (or, if earlier, the third Business Day immediately preceding the Mandatory Settlement Date) (“the Fundamental Change Early Settlement Date”).

Appears in 2 contracts

Samples: Purchase Contract Agreement (Wintrust Financial Corp), Purchase Contract Agreement (Synovus Financial Corp)

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Early Settlement Upon a Fundamental Change. (a) If a Fundamental Change occurs and a Holder elects to settle its Purchase Contracts early in connection with such Fundamental Change, such Holder shall receive a number of shares of Common Stock (or cash, securities or other property, as applicable) based on the Fundamental Change Early Settlement Rate (the “Fundamental Change Early Settlement Right”). An Early Settlement early settlement shall be deemed for these purposes to be “in connection with” such Fundamental Change if the Holder delivers an Early Settlement Notice to the Purchase Contract Agent, and otherwise satisfies the requirements for effecting Early Settlement of its Purchase ContractsContracts set forth in Section 4.04(b), during the period beginning on, and including, the Effective Date of the Fundamental Change and ending at the close of business on, and including, the 30th Business Day thereafter (or, if earlier, the third Business Scheduled Trading Day immediately preceding the Mandatory Settlement Date) (“the Fundamental Change Early Settlement DatePeriod”).

Appears in 2 contracts

Samples: Purchase Contract Agreement (William Lyon Homes), Purchase Contract Agreement (Thompson Creek Metals CO Inc.)

Early Settlement Upon a Fundamental Change. (a) If a Fundamental Change occurs and a Holder elects to settle its Purchase Contracts early in connection with such Fundamental Change, such Holder shall receive a number of shares of Common Stock (or cash, securities or other property) based on the Fundamental Change Early Settlement Rate (the “Fundamental Change Early Settlement Right”). An Early Settlement shall be deemed for these purposes to be “in connection with” such Fundamental Change if the Holder delivers an Early Settlement Notice to the Purchase Contract Agent, and otherwise satisfies the requirements for effecting Early Settlement of its Purchase ContractsContracts set forth in Section 5.04 hereof, during the period beginning on, and including, the Effective Date of the Fundamental Change and ending on, and including, the 30th Business Day thereafter (or, if earlier, the third Business Day immediately preceding the Mandatory Settlement Date) (the Fundamental Change Early Settlement Date”).

Appears in 1 contract

Samples: Purchase Contract Agreement (Beazer Homes Usa Inc)

Early Settlement Upon a Fundamental Change. (a) If a Fundamental Change occurs and a Holder elects to settle its Purchase Contracts early in connection with such Fundamental Change, such Holder shall receive a number of shares of Common Stock (or cash, securities or other property) based on the Fundamental Change Early Settlement Rate (the “Fundamental Change Early Settlement Right”). An Early Settlement shall be deemed for these purposes to be “in connection with” such Fundamental Change if the Holder delivers an Early Settlement Notice to the Purchase Contract Agent, and otherwise satisfies the requirements for effecting Early Settlement of its Purchase Contracts, during the period beginning on, and including, the Effective Date of the Fundamental Change and ending on, and including, the 30th Business Day thereafter (or, if earlier, the third Business Day immediately preceding the Mandatory Settlement Date) (the the Fundamental Change Early Settlement Date”). None of the Purchase Contract Agent, the Trustee or any Paying Agent shall have any duty or obligation to determine if a Fundamental Change has occurred in connection with the Purchase Contracts.

Appears in 1 contract

Samples: Purchase Contract Agreement (Banc of California, Inc.)

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Early Settlement Upon a Fundamental Change. (a) If a Fundamental Change occurs and a Holder elects to settle its Purchase Contracts early in connection with such Fundamental Change, such Holder shall receive a number of shares of Common Stock (or cash, securities or other property) based on the Fundamental Change Early Settlement Rate (the “Fundamental Change Early Settlement Right”). An Early Settlement shall be deemed for these purposes to be “in connection with” such Fundamental Change if the Holder delivers an Early Settlement Notice to the Purchase Contract Agent, and otherwise satisfies the requirements for effecting Early Settlement of its Purchase Contracts, during the period beginning on, and including, the Effective Date of the Fundamental Change and ending on, and including, the 30th Business Day thereafter (or, if earlier, the third Business Day immediately preceding the Mandatory Settlement Date) (“the Fundamental Change Early Settlement Date”).

Appears in 1 contract

Samples: Purchase Contract Agreement (Citigroup Inc)

Early Settlement Upon a Fundamental Change. (a) If a Fundamental Change occurs and a Holder elects to settle its Purchase Contracts early in connection with such Fundamental ChangeChange in accordance with Section 5.04, such Holder shall receive a number of shares of Common Stock (or cash, securities or other property) based on the Fundamental Change Early Settlement Rate (the “Fundamental Change Early Settlement Right”). An Early Settlement shall be deemed for these purposes to be “in connection with” such Fundamental Change if the Holder delivers an Early Settlement Notice to the Purchase Contract Agent, and otherwise satisfies the requirements for effecting Early Settlement of its Purchase Contracts, during the period beginning on, and including, the Effective Date of the Fundamental Change and ending on, and including, at the close of business on the 30th Business Day thereafter (or, if earlier, the third Business Scheduled Trading Day immediately preceding the Mandatory Settlement Date[ ], 2014) (“the Fundamental Change Early Settlement DatePeriod”).

Appears in 1 contract

Samples: Purchase Contract Agreement (Ally Financial Inc.)

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