Common use of Exchange Provisions Clause in Contracts

Exchange Provisions. After there is an Acquiring Person, the Board of Directors may elect to exchange each Right (other than Rights that have become null and void and nontransferable as described above) for consideration per Right consisting of one-half of the number of Common Shares that would be issuable at such time upon the exercise of one Right and without payment of the Purchase Price.

Exchange Provisions. After there is At any time after any person or group becomes an Acquiring Person, but before a person or group becomes the beneficial owner of more than 50% of the Common Shares, the Board of Directors may elect to exchange each Right (other than Rights that have become null and void and nontransferable as described above) for consideration per Right consisting of one-half of the number of Common Shares that would be issuable at such time upon on the exercise of one Right and without payment of the Purchase Price.

Exchange Provisions. After there is At any time after any person or group becomes an Acquiring Person, but before a person or group becomes the beneficial owner of more than 50% of the Common Shares, the Board of Directors may elect to exchange each Right (other than Rights that have become null and void and nontransferable as described above) for consideration per Right consisting of one-half one­half of the number of Common Shares that would be issuable at such time upon on the exercise of one Right and without payment of the Purchase Price.