Common use of Exchange of Rights Clause in Contracts

Exchange of Rights. At any time after any person becomes an Acquiring Person or an Adverse Person and before the acquisition by that person or group of 50% or more of the outstanding Common Shares, the Board of Directors of the Company may exchange the Rights (other than Rights owned by that person or group, which will have become void), in whole or in part, at an exchange ratio of six Common Shares per Right (subject to adjustment). The Company may, at its option, substitute a series of preferred stock of the Company for Common Shares exchangeable for Rights.

Exchange of Rights. At any time after any a person becomes an Acquiring Person or an Adverse Person and before prior to the acquisition by that such person or group of fifty percent (50% %) or more of the outstanding Common SharesStock, the Board of Directors of the Company may exchange the Rights (other than Rights owned by that such person or group, group which will have become void), in whole or in part, for Common Stock at an exchange ratio of six one share of Common Shares Stock, or one one-thousandth of a share of preferred stock (or of a share of a class or series of the Company's preferred stock having equivalent rights, preferences and privileges), per Right (subject to adjustment). The Company may, at its option, substitute a series of preferred stock of the Company for Common Shares exchangeable for Rights.

Exchange of Rights. At any time after any person Person becomes an Acquiring Person or an Adverse Person and before the acquisition by that person or group of 50% or more of the outstanding Common SharesPerson, the Board of Directors of the Company may may, at its option, exchange the Rights (other than except Rights owned by that person or group, which will previously have become voidbeen voided as set forth above), in whole or in part, at an exchange ratio of six one share of Common Shares per Right (Stock for each Right, subject to adjustment)adjustment for any stock split, stock dividend or similar transaction occurring after July 14, 1998. The Company may, Board of Directors may not cause the exchange after any person (except an exempt person) and that person's affiliates and associates acquires at its option, substitute a series of preferred stock least 50% of the Company for then-outstanding shares of Common Shares exchangeable for RightsStock.

Exchange of Rights. At any time after any person becomes the date an Acquiring Person obtains 20% or an Adverse Person more of the Company’s Common Shares and before prior to the acquisition by that person or group the Acquiring Person of 50% or more of the outstanding Common Shares, the Company’s Board of Directors of the Company may exchange the Rights (other than Rights owned by that person the Acquiring Person or group, which will have become voidits affiliates), in whole or in part, for Common Shares at an exchange ratio of six one Common Shares Share per Right (subject to adjustment). The Company may, at its option, substitute a series of preferred stock of the Company for Common Shares exchangeable for Rights.