Equity Settlement. The Company may, upon the exercise of a CVR, at the Company’s option and subject to the conditions of Section 3(g) below and to payment of the nominal value thereof (which for the avoidance of doubt is required by the next paragraph to be paid in cash by or for the account of the Holder), issue CVR Shares to the Holder in lieu of making some or all of the Cash Payment due upon exercise, subject to the provisions of this Agreement (including any adjustments made by the Company pursuant to Section 5 hereof) (an “Equity Settlement”). In such event, the Company shall issue a number of CVR Shares determined pursuant to the following formula: where:
Equity Settlement. (1) Within thirty (30) days of entry of the Order and Final Judgment, (i) FirstPlus shall deliver the Certificate or cause the Certificate, duly endorsed and medallion signature guaranteed or accompanied by stock powers duly endorsed in blank and medallion signature guaranteed, to be delivered to the Escrow Agent(s) (the "Escrow Fund") on behalf of the Authorized Claimants; (ii) FirstPlus, the Class Representative and Plaintiffs' Co-Lead Counsel shall execute and deliver the Assignment Agreement; (iii) FirstPlus, the Class Representative, Plaintiffs' Co-Lead Counsel and the Escrow Agent(s) shall execute and deliver the Escrow Agreement; and (iv) the Class Representative and Plaintiffs' Co-Lead Counsel shall execute and deliver, and FirstPlus shall cause Capital Lending to execute and deliver, the Registration Rights Agreement.
Equity Settlement. For purposes of this paragraph 9, references to the Escrow Fund shall be the Certificate held in escrow pursuant to the Escrow Agreement attached hereto as Exhibit C.
Equity Settlement. The Company may, upon the exercise of a CVR, at the Company’s option and subject to the conditions of Section 3(g) below and to payment of the nominal value thereof (which for the avoidance of doubt is required by the next paragraph to be paid in cash by or for the account of the Holder), issue CVR Shares to the Holder in lieu of making some or all of the Cash Payment due upon exercise, subject to the provisions of this Agreement (including any adjustments made by the Company pursuant to Section 5 hereof) (an “Equity Settlement”). In such event, the Company shall issue a number of CVR Shares determined pursuant to the following formula: where: X = the number of CVR Shares to be issued by the Company pursuant to the Equity Settlement; A = the Market Price of an Ordinary Share; B = the Exercise Price; C = the number of CVRs in respect of which the Company has elected an Equity Settlement; and D = the nominal value of an Ordinary Share on the date on which the Holder delivers the Exercise Notice pursuant to Section 3(b). In the case of an Equity Settlement, an amount in cash equal to the product of the nominal value of an Ordinary Share on the date on which the Holder delivers the Exercise Notice pursuant to Section 3(b) above and the number of CVR Shares issuable upon Equity Settlement of each CVR pursuant to this Section 3 shall be payable by or for the account of the Holder thereof on the date of issuance of the CVR Shares. The Company may elect an Equity Settlement only if (i) the resale by the Holder of such CVR Shares would not require registration under the Securities Act, or such issuance or resale has been registered under the Securities Act (in the case the CVR Shares are “restricted securities” (as defined in Rule 144(a)(3) under the Securities Act) and the resale is to be registered, pursuant to the terms of a registration rights agreement reasonably acceptable to the Company and the Holder) and (ii) such shares are not otherwise subject to contractual restrictions on transfer. The monetary value of the portion of the total consideration allocable to those terms of this Agreement that provide for Equity Settlement shall be $1,000.
