Common use of NO ADVERSE EFFECT ON POOLING OF INTERESTS Clause in Contracts

NO ADVERSE EFFECT ON POOLING OF INTERESTS. Any benefits provided to the Executive under this Agreement may be reduced or eliminated to the extent necessary, in the reasonable judgment of the Board, to enable the Company to account for a merger, consolidation or similar transaction as a pooling of interests; provided that (i) the Board shall have exercised such judgment and given the Executive written notice thereof prior to the Effective Date and (ii) the determination of the Board shall be supported by a written certificate of the Company's independent auditors, a copy of which shall be provided to the Executive before the Effective Date.

Appears in 3 contracts

Samples: Employment Continuity Agreement (Virginia Electric & Power Co), Employment Continuity Agreement (Dominion Resources Inc /Va/), Control Agreement (Peco Energy Co)

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NO ADVERSE EFFECT ON POOLING OF INTERESTS. Any benefits provided to the Executive under this Agreement may be reduced or eliminated to the extent necessary, in the reasonable judgment of the Board, to enable the Company to account for a merger, consolidation or similar transaction as a pooling of interests; provided that (i) the Board shall have exercised such judgment and given the Executive written notice thereof prior to the Effective Change Date and (ii) the determination of the Board shall be supported by a written certificate of the Company's independent auditors, a copy of which shall be provided to the Executive before the Effective Change Date.

Appears in 1 contract

Samples: Employment Agreement (Commonwealth Edison Co)

NO ADVERSE EFFECT ON POOLING OF INTERESTS. Any benefits provided to the Executive under this Agreement may be reduced or eliminated to the extent necessary, in the reasonable judgment of the Board, to enable the Company to account for a merger, consolidation or similar transaction as a pooling of interests; provided that (i) the Board shall have exercised such judgment and approved the reduction by a vote of at least two-thirds (2/3) of the directors then in office, (ii) the Board shall have given the Executive written notice thereof prior to the Effective Date and (ii) the determination of the Board shall be supported by a written certificate of the Company's independent auditors, a copy of which shall be provided to the Executive before the Effective Date.

Appears in 1 contract

Samples: Employment Continuity Agreement (Lendingtree Inc)

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NO ADVERSE EFFECT ON POOLING OF INTERESTS. Any benefits provided to the Executive under this Agreement may be reduced or eliminated to the extent necessary, in the reasonable judgment of the BoardBoard of Directors of Unicom, to enable the Company to account for a merger, consolidation or similar transaction as a pooling of interests; provided that (i) the Unicom Board shall have exercised such judgment and given the Executive written notice thereof prior to the Effective Date and (ii) the determination of the Unicom Board shall be supported by a written certificate of the Company's independent auditors, a copy of which shall be provided to the Executive before the Effective Date.

Appears in 1 contract

Samples: Control Agreement (Commonwealth Edison Co)

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