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 (or with respect to Eastborne, 20% or more), 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). Redemption of the Rights: Rights will be redeemable at the Company’s option for $0.001 per Right at any time on or prior to the fifth day (or such later date as may be determined by the Company’s Board of Directors) after public announcement that a Person has acquired beneficial ownership of 15% or more of the Company’s Common Stock (or with respect to Eastborne, 20% or more) (the “Shares Acquisition Date”).

Exchange Provision. At any time after the date on which an Acquiring Person obtains 15% or more of the Company’s Common Stock (or with respect to Eastborne, 20% or more), a Threshold Amount and prior to the acquisition by the Acquiring Person of 50% of the outstanding Class A Common Stock or 50% of the outstanding Class B Common Stock, a majority of the Board of Directors and 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). Redemption of the Rights: Rights will be redeemable at the Company’s 's option for $0.001 per Right at any time on or prior to the fifth day (or such later date as may be determined by the Company’s 's Board of Directors) after public announcement that a Person has acquired beneficial ownership of 15% or more of the Company’s Common Stock (or with respect to Eastborne, 20% or more) a Threshold Amount (the “"Shares Acquisition Date”").

Exchange Provision. At any time after the date on which an Acquiring Person obtains 15% or more of the Company’s Common Stock (or with respect to Eastborne, 20% or more), and prior to the acquisition by the Acquiring Person of 50% of the outstanding Common Stock, a majority of the Board of Directors and 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). Redemption of the Rights: Rights will be redeemable at the Company’s option for $0.001 0.01 per Right at any time on or prior to the fifth day (or such later date as may be determined by the Company’s Board of Directors) after public announcement that a Person has acquired beneficial ownership of 15% or more of the Company’s Common Stock (or with respect to Eastborne, 20% or more) (the “Shares Acquisition Date”).

Exchange Provision. At any time after the date on which an Acquiring Person obtains 15% or more of the Company’s 's Common Stock (or with respect to Eastborne, 20% or more), and prior to the acquisition by the Acquiring Person of 50% of the outstanding Common Stock, a majority of the Board of Directors and 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). Redemption of the Rights: Rights will be redeemable at the Company’s 's option for $0.001 0.0001 per Right at any time on or prior to the fifth day (or such later date as may be determined by the Company’s 's Board of Directors) after public announcement that a Person has acquired beneficial ownership of 15% or more of the Company’s 's Common Stock (or with respect to Eastborne, 20% or more) (the “"Shares Acquisition Date”").