Common use of Issue of Rights and Right Certificates Clause in Contracts

Issue of Rights and Right Certificates. (a) Effective on or after the Payment Date, one Right shall be associated with each Common Share outstanding on the Record Date, each additional Common Share that shall become outstanding between the Record Date and the earliest of the Distribution Date, the Redemption Date or the Expiration Date and each additional Common Share with which Rights are issued after the Distribution Date but prior to the earlier of the Redemption Date or the Expiration Date as provided in Section 23; provided, however, that, if the number of outstanding Rights are combined into a smaller number of outstanding Rights pursuant to Section 12(a), the appropriate fractional Right determined pursuant to such Section shall thereafter be associated with each such Common Share.

Appears in 2 contracts

Samples: Shareholder Rights Agreement (Sanchez Computer Associates Inc), Stockholder Rights Agreement (Systems & Computer Technology Corp)

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Issue of Rights and Right Certificates. (a) Effective on or after the Payment Date, one One Right shall be associated with each Common Share outstanding on the Record Date, each additional Common Share that shall become outstanding between the Record Date and the earliest to occur of the Distribution Date, the Redemption Date or the Expiration Date and each additional Common Share with which Rights are issued after the Distribution Date but prior to the earlier earliest to occur of the Redemption Date Date, the Exchange Date, to the extent applicable, or the Expiration Date as provided in Section 23; provided, however, that, if the number of outstanding Rights are combined into a smaller number of outstanding Rights pursuant to Section 12(a), the appropriate fractional Right determined pursuant to such Section shall thereafter be associated with each such Common Share.

Appears in 1 contract

Samples: Rights Agreement (Regis Corp)

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Issue of Rights and Right Certificates. (a) Effective on or after the Payment Date, one One --------------------------------------- Right shall be associated with each Common Share outstanding on the Record Date, each additional Common Share that shall become outstanding between the Record Date and the earliest of the Distribution Date, the Redemption Date or the Expiration Date and each additional Common Share with which Rights are issued after the Distribution Date but prior to the earlier of the Redemption Date or the Expiration Date as provided in Section 23; provided, --------- however, that, if the number of outstanding Rights are combined into a ------- smaller number of outstanding Rights pursuant to Section 12(a), the appropriate fractional Right determined pursuant to such Section shall thereafter be associated with each such Common Share.

Appears in 1 contract

Samples: Rights Agreement (Primex Technologies Inc)

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