Common use of Exchange Provision Clause in Contracts

Exchange Provision. At any time after the date on which an Acquiring Person obtains 15% or more of the Company's Common Stock and prior to the acquisition by the Acquiring Person of 50% of the outstanding Common Stock, the Board of Directors of the Company may exchange the Rights (other than Rights owned by the Acquiring Person or its affiliates), in whole or in part, for shares of Common Stock of the Company at an exchange ratio of one share of Common Stock per Right (subject to adjustment).

Exchange Provision. At any time after the date on which an Acquiring Person obtains 154.9% or more of the Company's ’s Common Stock (other than pursuant to a Permitted Offer) and prior to the acquisition by the Acquiring Person of 50% or more of the outstanding Common Stock, the Board of Directors of the Company may exchange the Rights (other than Rights owned by the Acquiring Person or its affiliates), in whole or in part, for shares of Common Stock of the Company at an exchange ratio of one share of Common Stock Share per Right (subject to adjustment).

Exchange Provision. At any time after the date on which an Acquiring Person obtains 15% or more of the Company's Common Stock Shares and prior to the acquisition by the an Acquiring Person of 50% or more of the outstanding Common StockShares, the Board of Directors of the Company may elect to exchange the Rights (other than the Rights owned by the Acquiring Person or and any of its affiliatesaffiliates and associates), in whole or in part, for shares of Common Stock of the Company Shares at an exchange ratio of one share of Common Stock Share per Right (subject to adjustment).