Common use of Flip-In Clause in Contracts

Flip-In. (a) In the event that prior to the Expiration Time a Flip-in Date shall occur, except as provided in this Section 3.1, each Right shall constitute the right to purchase from the Company, upon exercise thereof in accordance with the terms hereof (but subject to Section 5.10), that number of shares of Common Stock having an aggregate Market Price on the Shares Acquisition Date equal to twice the Purchase Price for an amount in cash equal to the Purchase Price (such right to be appropriately adjusted in order to protect the interests of the holders of Rights generally in the event that on or after such Shares Acquisition Date an event of a type analogous to any of the events described in Section 2.3(a) or (b) shall have occurred with respect to the Common Stock).

Appears in 2 contracts

Samples: Rights Agreement (Atchison Casting Corp), Rights Agreement (Utilicorp United Inc)

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Flip-In. (a) In the event that prior to the Expiration Time a Flip-in Date shall occur, except as provided in this Section SECTION 3.1, each Right shall constitute the right to purchase from the Company, upon exercise thereof in accordance with the terms hereof (but subject to Section SECTION 5.10), that number of shares of Common Stock having an aggregate Market Price on the Shares Stock Acquisition Date equal to twice the Purchase Exercise Price for an amount in cash equal to the Purchase Exercise Price (such right to be appropriately adjusted in order to protect the interests of the holders of Rights generally in the event that on or after such Shares Stock Acquisition Date an event of a type analogous to any of the events described in Section 2.3(aSECTION 2.4(a) or (b) shall have occurred with respect to the Common Stock).

Appears in 1 contract

Samples: Stockholder Protection Rights Agreement (Hanover Capital Mortgage Holdings Inc)

Flip-In. (a) In the event that prior to the Expiration Time a Flip-in Date shall occur, except as provided in this Section 3.1, each Right shall constitute the right to purchase from the Company, upon exercise thereof in accordance with the terms hereof (but subject to Section 5.10), that number of shares of Common Stock Shares having an aggregate Market Price on the Shares Acquisition Date equal to twice the Purchase Price for an amount in cash equal to the Purchase Price (such right to be appropriately adjusted in order to protect the interests of the holders of Rights generally in the event that on or after such Shares Acquisition Date an event of a type analogous to any of the events described in Section 2.3(a2.4(a) or (b) shall have occurred with respect to the Common StockShares).

Appears in 1 contract

Samples: Shareholder Rights Agreement (Firstmerit Corp)

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Flip-In. (a) In the event that prior to the Expiration Time Time, a Flip-in In Date shall occur, except as provided in this Section 3.1, each Right shall constitute the right to purchase from the Company, upon exercise thereof in accordance with the terms hereof (but subject to Section 5.10), that number of shares of Common Stock having an aggregate Market Price on the Shares Stock Acquisition Date equal to twice the Purchase Exercise Price for an amount in cash equal to the Purchase Exercise Price (such right to be appropriately adjusted in order to protect the interests of the holders of Rights generally in the event that on or after such Shares Stock Acquisition Date an event of a type analogous to any of the events described in Section 2.3(aSections 2.4(a) or (b) shall have occurred with respect to the Common Stock).

Appears in 1 contract

Samples: Shareholder Protection Rights Agreement (Irt Property Co)

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