Effect of Stock Ownership Exceeding Sample Clauses

Effect of Stock Ownership Exceeding. 40%. If at any time the ONEOK Group's ownership of Common Stock of MHR (including Common Stock of MHR issuable upon conversion of the Preferred Stock) increases or appears to increase above 40% resulting in the ONEOK Group causing or appearing to cause a "Change of Control" under the Indenture, (i) the applicable putative stock acquisition or other transaction will for all purposes be void ab initio and of no force or effect, and MHR will instruct its stock transfer agent not to honor such putative transaction; (ii) the ONEOK Group will, within five days after the putative transaction, take all actions necessary to reduce its ownership of Common Stock of MHR (including Common Stock of MHR issuable upon conversion of the Preferred Stock) to not more than 40%; and (iii) if notwithstanding MHR's and the ONEOK Group's compliance with clauses (i) and (ii) of this sentence MHR is required to make a
Sample 1
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Effect of Stock Ownership Exceeding. 40%. If at any time the ONEOK Group's ownership of Common Stock of MHR (including Common Stock of MHR issuable upon conversion of the Preferred Stock) increases or appears to increase above 40% resulting in the ONEOK Group causing or appearing to cause a "Change of Control" under the Indenture, (i) the applicable putative stock acquisition or other transaction will for all purposes be void ab initio and of no force or effect, and MHR will instruct its stock transfer agent not to honor such putative transaction; (ii) the ONEOK Group will, within five days after the putative transaction, take all actions necessary to reduce its ownership of Common Stock of MHR (including Common Stock of MHR issuable upon conversion of the Preferred Stock) to not more than 40%; and (iii) if notwithstanding MHR's and the ONEOK Group's compliance with clauses (i) and (ii) of this sentence MHR is required to make a "Change of Control Offer" under the Indenture, ONEOK will, or will cause the ONEOK Group to, make available to MHR sufficient financing upon mutually agreed terms (which terms will be no less favorable to MHR than, at MHR's option, those terms set forth in the Indenture or such terms as are commercially available) to repurchase any of the Senior Notes that are then outstanding and tendered to MHR pursuant to its "Change of Control Offer." Notwithstanding the immediately preceding sentence, if the ONEOK Group's ownership interest in MHR increases above 40% as a direct result of a repurchase of Common Stock by MHR and/or one of its Affiliates, the ONEOK Group will not be obligated to provide financing to MHR to repurchase the Senior Notes tendered to MHR.
Sample 1

Related to Effect of Stock Ownership Exceeding

  • Privilege of Stock Ownership The holder of this option shall not have any of the rights of a shareholder with respect to the Option Shares until such individual shall have exercised the option and paid the Option Price.

  • Privileges of Stock Ownership Optionee shall have no rights as a shareholder with respect to the Bancorp’s stock subject to this option until the date of issuance of stock certificates to Optionee. Except as provided in the Plan, no adjustment will be made for dividends or other rights for which the record date is prior to the date such stock certificates are issued.

  • Stock Ownership Attached hereto as Schedule 8 is a true and correct list of all the duly authorized, issued and outstanding stock of each Subsidiary and the record and beneficial owners of such stock. Also set forth on Schedule 8 is each equity Investment of the Borrower and each Subsidiary that represents 50% or less of the equity of the entity in which such investment was made.

  • Aggregation of Stock All shares of Registrable Securities held or acquired by Affiliates shall be aggregated together for the purpose of determining the availability of any rights under this Agreement and such Affiliated persons may apportion such rights as among themselves in any manner they deem appropriate.

  • RESERVATION OF STOCK, ETC ISSUABLE ON EXERCISE OF WARRANT; FINANCIAL STATEMENTS. The Company will at all times reserve and keep available, solely for issuance and delivery on the exercise of the Warrants, all shares of Common Stock (or Other Securities) from time to time issuable on the exercise of the Warrant. This Warrant entitles the Holder hereof to receive copies of all financial and other information distributed or required to be distributed to the holders of the Company's Common Stock.

  • No Claim Regarding Stock Ownership or Consideration There must not have been made or threatened by any Person any claim asserting that such Person (a) is the holder of, or has the right to acquire or to obtain beneficial ownership of the Shares or any other stock, voting, equity, or ownership interest in, the Company, or (b) is entitled to all or any portion of the Acquiror Company Shares.

  • Treatment of Stock Options 6 ARTICLE III.

  • No Claim Regarding Stock Ownership or Sale Proceeds There must not have been made or Threatened by any Person any claim asserting that such Person (a) is the holder or the beneficial owner of, or has the right to acquire or to obtain beneficial ownership of, any stock of, or any other voting, equity, or ownership interest in, any of the Company, or (b) is entitled to all or any portion of the Purchase Price payable for the Shares.

  • Stock Ownership Requirements If the Recipient is subject to any stock ownership requirements imposed by the Company, those requirements may limit the Recipient’s ability to sell or otherwise transfer some or all of the shares of CDI Stock which may be acquired by the Recipient in connection with this Grant.

  • Stock Ownership Guidelines Executive will comply with all stock ownership and stock retention guidelines or policies established by the Board and the Committee, as in effect from time to time.

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