Common use of Investment of Exchange Fund Clause in Contracts

Investment of Exchange Fund. The Exchange Fund, pending its disbursement to the holders of Shares and ADSs, shall be invested by the Paying Agent as directed by Parent; provided, that (i) Parent shall not direct the Paying Agent to make any such investments that are speculative in nature, and (ii) no such investment or losses shall affect the amounts payable to such holders, and Parent shall promptly replace or cause to be replaced any funds deposited with the Paying Agent that are lost through any investment so as to ensure that the Exchange Fund is at all times maintained at a level sufficient for the Paying Agent to pay the Merger Consideration. Earnings from investments shall be the sole and exclusive property of Parent and the Surviving Company. Except as contemplated by Section 2.04(b), this Section 2.04(f) and Section 2.04(g), the Exchange Fund shall not be used for any other purpose.

Appears in 7 contracts

Samples: Agreement and Plan of Merger (Ocean Imagination L.P.), Agreement and Plan of Merger (Ctrip Investment Holding Ltd.), Agreement and Plan of Merger (Zhang Ray Ruiping)

AutoNDA by SimpleDocs

Investment of Exchange Fund. The Exchange Fund, pending its disbursement to the holders of Shares and ADSs, shall be invested by the Paying Agent as directed by Parent; provided, provided that (i) Parent shall not direct the Paying Agent to make any such investments that are speculative in nature, nature and (ii) no such investment or losses shall affect the amounts payable to such holders, holders and Parent shall promptly replace or cause to be replaced any funds deposited with the Paying Agent that are lost through any investment so as to ensure that the Exchange Fund is at all times maintained at a level sufficient for the Paying Agent to pay the Merger Consideration. Earnings from investments shall be the sole and exclusive property of Parent and the Surviving CompanyCorporation. Except as contemplated by Section 2.04(b), 2.04(a) and this Section 2.04(f) and Section 2.04(g), the Exchange Fund shall not be used for any other purpose.

Appears in 2 contracts

Samples: Merger Agreement (Shi Yuzhu), Merger Agreement (Baring Asia Private Equity Fund v Co-Investment L.P.)

Investment of Exchange Fund. The Exchange Fund, pending its disbursement to the holders of Shares and ADSs, shall be invested by the Paying Agent as directed by Parent; provided, provided that (i) Parent shall not direct the Paying Agent to make any such investments that are speculative in nature, nature and (ii) no such investment or losses shall affect the amounts payable to such holders, holders and Parent shall promptly replace or cause to be replaced any funds deposited with the Paying Agent that are lost through any investment so as to ensure that the Exchange Fund is at all times maintained at a level sufficient for the Paying Agent to pay the Merger Consideration. Earnings from investments shall be the sole and exclusive property of Parent and the Surviving CompanyCorporation. Except as contemplated by Section 2.04(b), ) and this Section 2.04(f) and Section 2.04(g), the Exchange Fund shall not be used for any other purpose.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Shanda Games LTD)

Investment of Exchange Fund. The Exchange Fund, pending its disbursement to the holders of Shares Shares, ADSs and ADSsWarrants, shall be invested by the Paying Agent as directed by ParentParent or, after the Effective Time, the Surviving Company; provided, that (i) Parent shall not direct the Paying Agent to make any such investments that are speculative in nature, and (ii) no such investment or losses shall affect the amounts payable to such holders, holders and Parent or the Surviving Company, as applicable, shall promptly replace or cause to be replaced any funds deposited with the Paying Agent that are lost through any investment so as to the extent necessary to ensure that the Exchange Fund is at all times maintained at a level sufficient for the Paying Agent to pay the Merger Consideration. Earnings from investments shall be the sole and exclusive property of Parent and the Surviving Company. Except as contemplated by Section 2.04(b), this Section 2.04(f2.04(h) and Section 2.04(g2.04(i), the Exchange Fund shall not be used for any other purpose.

Appears in 1 contract

Samples: Merger Agreement (TDCX Inc.)

Investment of Exchange Fund. The Exchange Fund, pending its disbursement to the holders of Shares and ADSs, shall be invested by the Paying Agent as directed by Parent; provided, provided that (i) Parent shall not direct the Paying Agent to make any such investments that are speculative in nature, nature and (ii) no such investment or losses shall affect the amounts payable to such holders, holders and Parent shall promptly replace or cause to be replaced any funds deposited with the Paying Agent that are lost through any investment so as to ensure that the Exchange Fund is at all times maintained at a level sufficient for the Paying Agent to pay the Merger Consideration. Earnings from investments shall be the sole and exclusive property of Parent and the Surviving CompanyCorporation. Except as contemplated by Section 2.04(b), this Section 2.04(f‎Section 2.04‎(b) and Section 2.04(gthis ‎Section 2.04(f), the Exchange Fund shall not be used for any other purpose.

Appears in 1 contract

Samples: Merger Agreement (Shanda Games LTD)

AutoNDA by SimpleDocs

Investment of Exchange Fund. The Exchange Fund, pending its disbursement to the holders of Shares and ADSsShares, shall be invested by the Paying Agent as directed by Parent; provided, that (i) Parent shall not direct the Paying Agent to make any such investments that are speculative in nature, and (ii) no such investment or losses shall affect the amounts payable to such holders, and Parent shall promptly replace or cause to be replaced any funds deposited with the Paying Agent that are lost through any investment so as to ensure that the Exchange Fund is at all times maintained at a level sufficient for the Paying Agent to pay the Merger Consideration. Earnings from investments shall be the sole and exclusive property of Parent and the Surviving Company. Except as contemplated by Section 2.04(b), this Section 2.04(f) and Section 2.04(g), the Exchange Fund shall not be used for any other purpose.

Appears in 1 contract

Samples: Merger Agreement (Nord Anglia Education, Inc.)

Investment of Exchange Fund. The Exchange Fund, pending its disbursement to the holders of Shares and (including Shares represented by ADSs), shall be invested by the Paying Agent as directed by Parent; provided, provided that (i) Parent shall not direct the Paying Agent to make any such investments that are speculative in nature, nature and (ii) no such investment or losses shall affect the amounts payable to such holders, holders and Parent shall promptly replace or cause to be replaced any funds deposited with the Paying Agent that are lost through any investment so as to ensure that the Exchange Fund is at all times maintained at a level sufficient for the Paying Agent to pay the aggregate Per Share Merger Consideration. Earnings from investments shall be the sole and exclusive property of Parent and the Surviving CompanyCorporation. Except as contemplated by Section 2.04(b), ) and this Section 2.04(f) and Section 2.04(g), the Exchange Fund shall not be used for any other purpose.

Appears in 1 contract

Samples: Merger Agreement (China Mobile Games & Entertainment Group LTD)

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