Common use of Issuance of transferable rights or warrants Clause in Contracts

Issuance of transferable rights or warrants. If Coca-Cola issues transferable rights or warrants to all holders of Coca-Cola common stock to subscribe for or purchase Coca-Cola common stock, including new or existing rights to purchase Coca-Cola common stock pursuant to a shareholder’s rights plan or arrangement, then the Exchange Ratio will be adjusted on the Business Day immediately following the issuance of such transferable rights or warrants so that the new Exchange Ratio shall equal the prior Exchange Ratio plus the product of: • the prior Exchange Ratio, and • the number of shares of Coca-Cola common stock that can be purchased with the cash value of such warrants or rights distributed on a single share of Coca-Cola common stock. The number of shares that can be purchased will be based on the closing market price of Coca-Cola common stock on the date the new Exchange Ratio is determined. The cash value of such warrants or rights, if the warrants or rights are traded on a national securities exchange, will equal the closing price of such warrant or right, or, if the warrants or rights are not traded on a national securities exchange, will be determined by the Calculation Agent and will equal the average (mean) of the bid prices obtained from three dealers at 3:00 p.m., New York City time, on the date the new Exchange Ratio is determined, provided that if only two such bid prices are available, then the cash value of such warrants or rights will equal the average (mean) of such bids and if only one such bid is available, then the cash value of such warrants or rights will equal such bid.

Appears in 1 contract

Samples: Global Security Note (Merrill Lynch & Co Inc)

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Issuance of transferable rights or warrants. If Coca-Cola Exxon issues transferable rights or warrants to all holders of Coca-Cola Exxon common stock to subscribe for or purchase Coca-Cola Exxon common stock, including new or existing rights to purchase Coca-Cola Exxon common stock pursuant to a shareholder’s rights plan or arrangement, then the Exchange Ratio will be adjusted on the Business Day immediately following the issuance of such transferable rights or warrants so that the new Exchange Ratio shall equal the prior Exchange Ratio plus the product of: • the prior Exchange Ratio, and • the number of shares of Coca-Cola Exxon common stock that can be purchased with the cash value of such warrants or rights distributed on a single share of Coca-Cola Exxon common stock. The number of shares that can be purchased will be based on the closing market price Closing Market Price of Coca-Cola Exxon common stock on the date the new Exchange Ratio is determined. The cash value of such warrants or rights, if the warrants or rights are traded on a national securities exchange, will equal the closing price of such warrant or right, or, if the warrants or rights are not traded on a national securities exchange, will be determined by the Calculation Agent and will equal the average (mean) of the bid prices obtained from three dealers at 3:00 p.m., New York City time, on the date the new Exchange Ratio is determined, provided that if only two such bid prices are available, then the cash value of such warrants or rights will equal the average (mean) of such bids and if only one such bid is available, then the cash value of such warrants or rights will equal such bid.

Appears in 1 contract

Samples: Global Security Note (Merrill Lynch & Co Inc)

Issuance of transferable rights or warrants. If Coca-Cola issues transferable rights or warrants to all holders Holders of Coca-Cola common stock to subscribe for or purchase Coca-Cola common stock, including new or existing rights to purchase Coca-Cola common stock pursuant to a shareholder’s rights plan or arrangement, then the Exchange Ratio will be adjusted on the Business Day immediately following the issuance of such transferable rights or warrants so that the new Exchange Ratio shall equal the prior Exchange Ratio plus the product of: · the prior Exchange Ratio, and · the number of shares of Coca-Cola common stock that can be purchased with the cash value of such warrants or rights distributed on a single share of Coca-Cola common stock. The number of shares that can be purchased will be based on the closing market price of Coca-Cola common stock on the date the new Exchange Ratio is determined. The cash value of such warrants or rights, if the warrants or rights are traded on a national securities exchange, will equal the closing price of such warrant or right, or, if the warrants or rights are not traded on a national securities exchange, will be determined by the Calculation Agent and will equal the average (mean) of the bid prices obtained from three dealers at 3:00 p.m., New York City time, on the date the new Exchange Ratio is determined, provided that if only two such bid prices are available, then the cash value of such warrants or rights will equal the average (mean) of such bids and if only one such bid is available, then the cash value of such warrants or rights will equal such bid.

Appears in 1 contract

Samples: Global Security Note (Merrill Lynch & Co Inc)

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Issuance of transferable rights or warrants. If Coca-Cola Exxon issues transferable rights or warrants to all holders of Coca-Cola Exxon common stock to subscribe for or purchase Coca-Cola Exxon common stock, including new or existing rights to purchase Coca-Cola Exxon common stock pursuant to a shareholder’s rights plan or arrangement, then the Exchange Ratio will be adjusted on the Business Day immediately following the issuance of such transferable rights or warrants so that the new Exchange Ratio shall equal the prior Exchange Ratio plus the product of: · the prior Exchange Ratio, and · the number of shares of Coca-Cola Exxon common stock that can be purchased with the cash value of such warrants or rights distributed on a single share of Coca-Cola Exxon common stock. The number of shares that can be purchased will be based on the closing market price of Coca-Cola Exxon common stock on the date the new Exchange Ratio is determined. The cash value of such warrants or rights, if the warrants or rights are traded on a national securities exchange, will equal the closing price of such warrant or right, or, if the warrants or rights are not traded on a national securities exchange, will be determined by the Calculation Agent and will equal the average (mean) of the bid prices obtained from three dealers at 3:00 p.m., New York City time, on the date the new Exchange Ratio is determined, provided that if only two such bid prices are available, then the cash value of such warrants or rights will equal the average (mean) of such bids and if only one such bid is available, then the cash value of such warrants or rights will equal such bid.. If prior to the Stated Maturity of the Notes,

Appears in 1 contract

Samples: Global Security Note (Merrill Lynch & Co Inc)

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