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 effect an Early Settlement of any Purchase Contract in connection with such Fundamental Change, then, notwithstanding anything to the contrary herein, such Holder shall receive a number of shares of Common Stock (or Reference Property Units, as applicable) 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 set forth in Section 4.04, during the period beginning on, and including, the Effective Date of the Fundamental Change and ending on, and including, the 35th Business Day thereafter (the “Fundamental Change Early Settlement Period”). If a Holder complies with the requirements set forth in Section 5.02(b) to exercise the Fundamental Change Early Settlement Right prior to the Close of Business on any Business Day during the Fundamental Change Early Settlement Period, then that Business Day shall be considered the “Fundamental Change Early Settlement Date.” If a Holder complies with the requirements set forth in Section 5.02(b) to exercise the Fundamental Change Early Settlement Right at or after the Close of Business on any Business Day during the Fundamental Change Early Settlement Period or at any time on a day during the Fundamental Change Early Settlement Period that is not a Business Day, then the next succeeding Business Day shall be considered the “Fundamental Change Early Settlement Date.”

Appears in 2 contracts

Samples: Purchase Contract Agreement (Post Holdings, Inc.), Purchase Contract Agreement (McDermott International Inc)

AutoNDA by SimpleDocs

Early Settlement Upon a Fundamental Change. (a) If a Fundamental Change occurs prior to the 33rd Scheduled Trading Day immediately preceding the Scheduled Mandatory Settlement Date and a Holder elects exercises the option to effect an Early Settlement in respect of any of its Purchase Contract Contracts in connection with such Fundamental Change, then, notwithstanding anything to Change in accordance with the contrary hereinprocedures set forth in Section 4.07(c), such Holder shall receive a number of shares WGP Common Units (and cash payable in lieu of any fractional WGP Common Stock Units pursuant to Section 4.13) (or Reference Property Unitsor, as applicableif a WGP Reorganization Event has occurred, a number of Units of WGP Exchange Property), subject to Section 4.07(m) based on and Section 4.07(b), for each such Purchase Contract equal to the Fundamental Change Early Settlement Rate as of the Fundamental Change Early Settlement Date (the right to effect such an Early Settlement, 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 a Fundamental Change Early Settlement of its Purchase Contracts set forth in Section 4.044.07(c)(i)(A) hereof, during the period beginning on, and including, the Effective Date of the such Fundamental Change and ending on, and including, at the 35th close of business on the 30th Business Day thereafter (or, if earlier, the third Scheduled Trading Day immediately preceding the Scheduled Mandatory Settlement Date) (the “Fundamental Change Early Settlement Period”). If one or more of the 20 scheduled Trading Days beginning on, and including, the third Trading Day immediately following the Effective Date of a Holder complies with Fundamental Change is not a Trading Day, and the requirements set forth 20 consecutive Trading Day period described in Section 5.02(b4.07(e)(ii) to exercise would end after the Fundamental Change Early Settlement Right prior to the Close last day of Business on any Business Day during the Fundamental Change Early Settlement Period, then that Business Day shall be considered the “Fundamental Change Early Settlement Date.” If a Holder complies with the requirements set forth in Section 5.02(b) to exercise the Fundamental Change Early Settlement Right at or after the Close of Business on any Business Day during the Fundamental Change Early Settlement Period or at any time on a day during the Fundamental Change Early Settlement Period that is not a Business Day, then the next succeeding Business Day shall be considered extended to the “Fundamental Change Early Settlement Datelast Trading Day of such 20 consecutive Trading Day period.

Appears in 1 contract

Samples: Purchase Contract Agreement (Anadarko Petroleum Corp)

Early Settlement Upon a Fundamental Change. (a) If a Fundamental Change occurs and a Holder elects to effect an Early Settlement of any Purchase Contract in connection with such Fundamental Change, then, notwithstanding anything to the contrary herein, such Holder shall receive a number of shares of Common Stock (or Reference Property Units, as applicable) 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 Company and the Purchase Contract Agent, and otherwise satisfies the requirements for effecting Early Settlement of its Purchase Contracts set forth in Section 4.04, during the period beginning on, and including, the Effective Date of the Fundamental Change and ending on, and including, the 35th 45th Business Day thereafter (the “Fundamental Change Early Settlement Period”). If a Holder complies with the requirements set forth in Section 5.02(b) to exercise the Fundamental Change Early Settlement Right prior to the Close of Business on any Business Day during the Fundamental Change Early Settlement Period, then that Business Day shall be considered the “Fundamental Change Early Settlement Date.” If a Holder complies with the requirements set forth in Section 5.02(b) to exercise the Fundamental Change Early Settlement Right at or after the Close of Business on any Business Day during the Fundamental Change Early Settlement Period or at any time on a day during the Fundamental Change Early Settlement Period that is not a Business Day, then the next succeeding Business Day shall be considered the “Fundamental Change Early Settlement Date.”

Appears in 1 contract

Samples: Purchase Contract Agreement

AutoNDA by SimpleDocs

Early Settlement Upon a Fundamental Change. (a) If Subject to and upon compliance with the provisions of Section 4.06 and this Section 4.07, at any time prior to the close of business on the third Scheduled Trading Day immediately preceding the Scheduled Mandatory Settlement Date, if a Fundamental Change occurs and occurs, a Holder elects of Units or Separate Purchase Contracts may elect to effect an Early Settlement of any settle its Purchase Contract Contracts early, in whole or in part, in connection with such Fundamental ChangeChange (the right to effect such an Early Settlement, then, notwithstanding anything to the contrary herein“Fundamental Change Early Settlement Right”). If the Holder exercises the Fundamental Change Early Settlement Right in respect of its Purchase Contracts in accordance with the procedures set forth in Section 4.06 and this Section 4.07, such Holder shall receive a number of shares of Common Stock (or Reference Property Unitsand any cash payable in lieu of fractional shares pursuant to Section 4.13) (or, as applicableif a Reorganization Event has occurred, a number of Units of Exchange Property) based on for each such Purchase Contract equal to the Fundamental Change Early Settlement Rate (in effect on the date such Fundamental Change Early Settlement Right”)Right is exercised. 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 set forth in Section 4.044.06 hereof, during the period beginning on, and including, the Effective Date of for the Fundamental Change and ending on, and including, at the 35th close of business on the 30th Business Day thereafter (or, if earlier, the third Scheduled Trading Day immediately preceding the Scheduled Mandatory Settlement Date) (the “Fundamental Change Early Settlement Period”). If a Holder complies with the requirements set forth in Section 5.02(b) to exercise the Fundamental Change Early Settlement Right prior to the Close of Business on any Business Day during the Fundamental Change Early Settlement Period, then that Business Day shall be considered the “Fundamental Change Early Settlement Date.” If a Holder complies with the requirements set forth in Section 5.02(b) to exercise the Fundamental Change Early Settlement Right at or after the Close of Business on any Business Day during the Fundamental Change Early Settlement Period or at any time on a day during the Fundamental Change Early Settlement Period that is not a Business Day, then the next succeeding Business Day shall be considered the “Fundamental Change Early Settlement Date.”

Appears in 1 contract

Samples: Purchase Contract Agreement (Kindred Healthcare, Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.