Common use of Investment of Exchange Fund Clause in Contracts

Investment of Exchange Fund. The Paying Agent shall invest the cash included in the Exchange Fund as directed by Parent; provided, however, that no such investment income or gain or loss thereon shall affect the amounts payable to holders of Shares. Any interest and other income resulting from such investments shall be the sole and exclusive property of Parent payable to Parent upon its request, and no part of such earnings shall accrue to the benefit of holders of Shares.

Appears in 3 contracts

Samples: Merger Agreement (K Tron International Inc), Rights Agreement (K Tron International Inc), Merger Agreement (Hillenbrand, Inc.)

AutoNDA by SimpleDocs

Investment of Exchange Fund. The Paying Agent shall invest the cash included in the Exchange Fund as directed by Parent; provided, however, that no such investment income or gain or loss thereon shall affect the amounts payable to holders of Shares. Any interest and other income resulting from such investments shall be paid solely to Parent. No investment losses resulting from investment of the sole and exclusive property Exchange Fund shall diminish the rights of Parent payable any holder of Certificates or Book-Entry Shares to Parent upon its request, and no part of such earnings shall accrue to receive the benefit of holders of SharesMerger Consideration as provided herein.

Appears in 3 contracts

Samples: Merger Agreement, Merger Agreement (Hewlett Packard Enterprise Co), Merger Agreement (Nimble Storage Inc)

Investment of Exchange Fund. The Paying Agent shall invest the any cash included in the Exchange Fund Fund, as directed by Parent; provided, however, that no such investment income or gain or loss thereon shall affect the amounts payable to holders of Shareson a daily basis. Any interest and other income resulting from such investments shall be paid to Parent. No such investment or any loss thereon shall affect the sole and exclusive property of amounts payable pursuant to this Article II. Parent payable shall take actions necessary to Parent upon its request, and no part of such earnings shall accrue ensure that the Exchange Fund includes at all times cash in an amount sufficient for the Paying Agent to pay the benefit of holders of SharesMerger Consideration in accordance with this Agreement.

Appears in 3 contracts

Samples: Merger Agreement (Thermo Fisher Scientific Inc.), Merger Agreement (PPD, Inc.), Merger Agreement (Endocyte Inc)

Investment of Exchange Fund. The Paying Agent shall invest the any cash included in the Exchange Fund as directed by Parent; provided, however, provided that no such investment income or gain or loss thereon shall affect the amounts payable to holders former stockholders of Sharesthe Company after the Effective Time pursuant to this Article III. Any interest and other income resulting from such investments investment shall be become a part of the sole and exclusive property of Parent payable to Parent upon its requestExchange Fund, and no part any amounts in excess of such earnings the amounts payable pursuant to this Article III shall accrue promptly be paid to the benefit of holders of SharesParent.

Appears in 3 contracts

Samples: Merger Agreement (Forestar Group Inc.), Merger Agreement (Bank Jos a Clothiers Inc /De/), Merger Agreement (Mens Wearhouse Inc)

Investment of Exchange Fund. The Paying Agent shall invest the any cash included in the Exchange Fund as directed by Parent; provided, however, that no such investment income or gain or loss thereon shall affect the amounts payable to holders of Shares. Any interest and other income resulting from such investments shall be paid to Parent. No investment loss or other loss incurred by the sole and exclusive property of Parent Exchange Fund shall affect the Merger Consideration payable pursuant to Parent upon its requestthis Article III, and no part of if such earnings loss is realized Parent shall accrue promptly deposit cash into the Exchange Fund to the benefit of holders of Sharesextent necessary to satisfy the payment obligations set forth in this Article III.

Appears in 3 contracts

Samples: Merger Agreement (Bell Microproducts Inc), Merger Agreement (Avnet Inc), Merger Agreement (Nu Horizons Electronics Corp)

Investment of Exchange Fund. The Paying Exchange Agent shall invest the cash included in the Exchange Fund as directed by Parent; provided, however, that no such investment income or gain or loss thereon shall affect the amounts payable to holders of Shares. Any interest and other income resulting from such investments shall be paid as directed by Parent. To the sole and exclusive property extent that there are losses with respect to such investments, Parent shall promptly replace or restore the portion of Parent payable the Exchange Fund lost through investments so as to Parent upon its request, and no part of such earnings shall accrue ensure that the Exchange Fund is maintained at a level sufficient to the benefit of holders of Sharesmake all payments required under this Article II.

Appears in 2 contracts

Samples: Merger Agreement (Standard Microsystems Corp), Agreement and Plan of Merger (Conexant Systems Inc)

Investment of Exchange Fund. The Paying Exchange Agent shall invest the any cash included in the Exchange Fund if and as directed by Parent; provided, however, provided that no such investment income or gain or loss thereon shall affect the amounts payable to the holders of Sharesshares of Company Common Stock following consummation of the Merger pursuant to this Article II and Parent shall take all actions necessary to ensure that the Exchange Fund includes at all times cash sufficient to satisfy Parent’s obligations under this Article II. Any Subject to Parent’s obligations pursuant to this Article II, any interest and or other income resulting from such investments shall be the sole and exclusive property of Parent payable paid to Parent Parent, upon its request, and no part of such earnings shall accrue to the benefit of holders of Sharesdemand.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Insite Vision Inc), Merger Agreement (Insite Vision Inc)

Investment of Exchange Fund. The Paying Agent shall invest the any cash included in the Exchange Fund as directed by Parent; provided, however, provided that no such investment income or gain or loss thereon shall affect the amounts payable to holders stockholders of Sharesthe Surviving Entity or former stockholders of the Company after the Effective Time pursuant to this Article III. Any interest and other income resulting from such investments investment shall be become a part of the sole and exclusive property of Parent payable to Parent upon its requestExchange Fund, and no part any amounts in excess of such earnings the amounts payable pursuant to this Article III shall accrue promptly be paid to the benefit of holders of SharesParent.

Appears in 2 contracts

Samples: Merger Agreement (Horton D R Inc /De/), Merger Agreement (Forestar Group Inc.)

Investment of Exchange Fund. The Paying Agent shall invest the any cash included in the Exchange Fund as directed by Parent; provided, however, that no such investment income or gain or loss thereon shall affect the amounts payable to holders of Sharesthe Company’s securities pursuant to this Article II. Any interest and other income resulting from such investments investment shall be become a part of the sole Exchange Fund, and exclusive property any amounts in excess of Parent the amounts payable to Parent upon its request, and no part of such earnings shall accrue to the benefit of holders of Sharesthe Company’s securities pursuant to this Article II shall promptly be paid to Parent.

Appears in 1 contract

Samples: Merger Agreement (Volcano Corp)

AutoNDA by SimpleDocs

Investment of Exchange Fund. The Paying Agent shall invest the any cash included in the Exchange Fund as directed by Parent; provided, however, Parent; provided that no such investment income or gain or loss thereon shall affect the amounts payable to holders former stockholders of Sharesthe Company after the Effective Time pursuant to this Article III. Any interest and other income resulting from such investments investment shall be become a part of the sole and exclusive property of Parent payable to Parent upon its requestExchange Fund, and no part any amounts in excess of such earnings the amounts payable pursuant to this Article III shall accrue promptly be paid to the benefit of holders of SharesParent.

Appears in 1 contract

Samples: Merger Agreement

Investment of Exchange Fund. The Paying Agent shall invest the cash included in the Exchange Fund as directed by Parent; provided, however, that no such investment income or gain or loss thereon shall affect the amounts payable to holders of Shares. Any interest and other income resulting from such investments shall be the sole and exclusive property of Parent payable paid solely to Parent upon its request, Parent. Nothing contained herein and no part investment losses resulting from investment of such earnings the Exchange Fund shall accrue diminish the rights of any holder of Certificates to receipt of the benefit of holders of SharesMerger Consideration as provided herein.

Appears in 1 contract

Samples: Merger Agreement (Meridian Medical Technologies Inc)

Investment of Exchange Fund. The Paying Exchange Agent shall invest the any cash included in the Exchange Fund if and as directed by Parent; provided, however, provided that no such investment income or gain or loss thereon shall affect the amounts payable to the holders of Sharesshares of Company Common Stock following consummation of the Merger pursuant to this Article II and Parent shall take all actions necessary to ensure that the Exchange Fund includes at all times cash sufficient to satisfy Parent's obligations under this Article II. Any Subject to Parent's obligations pursuant to this Article II, any interest and or other income resulting from such investments shall be the sole and exclusive property of Parent payable paid to Parent Parent, upon its request, and no part of such earnings shall accrue to the benefit of holders of Sharesdemand.

Appears in 1 contract

Samples: Agreement and Plan of Merger (QLT Inc/Bc)

Investment of Exchange Fund. The Paying Agent shall invest the cash included in the Exchange Fund as directed by Parent; provided, however, provided that no such investment income or gain or loss thereon shall affect the amounts payable to holders of Shares. Company stockholders pursuant to this Article I. Any interest and other income resulting from such investments investment shall be become a part of the sole Exchange Fund, and exclusive property any amounts in excess of Parent the amounts payable to Parent upon its request, and no part of such earnings Company stockholders pursuant to this Article I shall accrue promptly be paid to the benefit of holders of SharesParent.

Appears in 1 contract

Samples: Merger Agreement (Broadcom Corp)

Investment of Exchange Fund. The Paying Exchange Agent shall invest the any cash included in the Exchange Fund as directed by Parent; provided, however, that no such investment income or gain or loss thereon shall affect the amounts payable to holders of Shares. Any interest and other income resulting from such investments shall be paid to Parent; provided, however, that no investment of the sole and exclusive property of Exchange Fund shall relieve Parent payable to Parent upon its requestor the Exchange Agent from promptly making the payments required by this ‎Article 2, and no part of following any losses from any such earnings investment, Parent shall accrue promptly provide additional cash funds to the Exchange Agent for the benefit of the holders of Sharesshares of Company Common Stock at the Effective Time in the amount of such losses, which additional funds will be deemed to be part of the Exchange Fund.

Appears in 1 contract

Samples: Merger Agreement (Potlatchdeltic Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!