{"component": "clause", "props": {"groups": [{"snippet": "No Shares shall entitle any Member to any preemptive, preferential or similar rights unless such preemptive, preferential or similar rights are set forth in the applicable Series Designation on or prior to the date of the Series Offering of any interests of such Series (the designation of such preemptive, preferential or similar rights with respect to a Series in the Series Designation, the Interest Designation).", "snippet_links": [{"key": "series-designation", "type": "definition", "offset": [172, 190]}, {"key": "prior-to-the", "type": "clause", "offset": [197, 209]}, {"key": "date-of", "type": "clause", "offset": [210, 217]}, {"key": "series-offering", "type": "definition", "offset": [222, 237]}, {"key": "designation-of", "type": "definition", "offset": [275, 289]}, {"key": "with-respect-to", "type": "clause", "offset": [338, 353]}, {"key": "interest-designation", "type": "definition", "offset": [394, 414]}], "samples": 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"snippet_links": [{"key": "directly-or-indirectly", "type": "clause", "offset": [54, 76]}, {"key": "shipping-services", "type": "definition", "offset": [99, 116]}, {"key": "sale-of", "type": "clause", "offset": [135, 142]}], "samples": [{"hash": "6O33hfm1C2k", "uri": "/contracts/6O33hfm1C2k#no-preference", "label": "Ups Api Access Agreement", "score": 27.8706359863, "published": true}], "size": 3, "hash": "7cb9e28e19c70ceea5370ef22c0d815b", "id": 5}, {"snippet": "No Lender shall have, previous to this Agreement, entered into or shall, subsequent to this Agreement, enter into any arrangement with the Borrower or any other Person, without the prior written consent of the other Lenders, which would have the effect of giving such Lender preference or priority over any other Lender in respect of the indebtedness of the Borrower under this Agreement.", "snippet_links": [{"key": "no-lender", "type": "clause", "offset": [0, 9]}, {"key": "to-this-agreement", "type": "clause", "offset": [31, 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Purchase Order.", "snippet_links": [{"key": "of-seller", "type": "clause", "offset": [99, 108]}, {"key": "the-provisions-of-article", "type": "clause", "offset": [127, 152]}, {"key": "the-national", "type": "clause", "offset": [182, 194]}, {"key": "commercial-code", "type": "definition", "offset": [205, 220]}, {"key": "contractual-relationship", "type": "definition", "offset": [241, 265]}, {"key": "the-purchase-order", "type": "definition", "offset": [296, 314]}], "samples": [{"hash": "50QpnPiF966", "uri": "/contracts/50QpnPiF966#no-preference", "label": "General Conditions of Purchase", "score": 21.7002048492, "published": true}, {"hash": "csIRgBWdMA4", "uri": "/contracts/csIRgBWdMA4#no-preference", "label": "General Conditions of Purchase", "score": 20.7816562653, "published": true}], "size": 2, "hash": "0fac13e99591425af9aa72882665a5ee", "id": 6}, {"snippet": "The following language is hereby added to the end of the sentence in Section 4(c)(ii): \u201c(i.e., UPS will be presented on at least a neutral basis with respect to UPS Competitors)\u201d.", "snippet_links": [{"key": "with-respect-to", "type": "clause", "offset": [145, 160]}], "samples": [{"hash": "lNYlJSF06Zk", "uri": "/contracts/lNYlJSF06Zk#no-preference", "label": "Ups Api Access Agreement", "score": 35.6541366577, "published": true}, {"hash": "6O33hfm1C2k", "uri": "/contracts/6O33hfm1C2k#no-preference", "label": "Ups Api Access Agreement", "score": 27.8706359863, "published": true}], "size": 2, "hash": "82fd5c2ce177230b3730f06e3e0e6c0c", "id": 7}, {"snippet": "If this option is selected, a FSBI stockholder is indicating that he or she has no preference as to the form of consideration to be received, and will accept cash, shares of PFS common stock or a combination of both as determined by PFS and its Exchange Agent, Registrar and Transfer Company, based on what is available after other FSBI stockholders have made their elections. \u00b7 The election period expires at 5:00 p.m., Eastern time, on , 2004. The companies anticipate the effective date of the merger to occur on or about June 30, 2004. Unless we have otherwise advised you, it is imperative that we receive your instructions prior to the expiration date. \u00b7 If you miss our processing deadline, we may be unable to comply with your election preference. PFS and its exchange agent will determine whether cash, shares of PFS common stock or a combination of cash and shares of PFS will be distributed to you pursuant to the allocation and proration procedures described in the merger agreement. \u00b7 PFS cannot ensure that all FSBI stockholders will receive their election choices. The merger agreement provides that 60% of the outstanding shares of FSBI common stock will be exchanged for shares of PFS common stock and that 40% of the outstanding shares of FSBI common stock will be exchanged for cash. After the election deadline, PFS and the Exchange Agent will calculate the exact amount of cash and/or shares of PFS common stock to be distributed to each FSBI stockholder based on all valid elections received and in accordance with the allocation and proration procedures set forth in the merger agreement. If FSBI stockholders owning more than 60% of the outstanding shares of FSBI common stock elect to receive shares of PFS common stock, the amount of PFS common stock that each such FSBI stockholder would receive from PFS will be reduced on a pro rata basis. As a result of that pro rata reduction, these FSBI stockholders will receive cash for any FSBI shares for which they do not receive PFS common stock. Similarly, if stockholders owning more than 40% of the outstanding shares of FSBI common stock elect to receive cash for such shares, the amount of cash that each such FSBI stockholder would receive from PFS will be reduced on a pro rata basis. As a result of that pro rata reduction, these FSBI stockholders will receive PFS common stock for any FSBI shares for which they do not receive cash. The allocations and prorations will be based on the provisions of the merger agreement that is attached as Appendix A to the Joint Proxy Statement/Prospectus dated May , 2004. \u00b7 An exchange for cash will be treated as a sale of stock. Because individual circumstances may differ, you should consult your tax advisor to determine the tax effects of the merger, including the application and effect of foreign, federal, state, local or other tax laws. Please provide your signed instructions below: \u00a8 Exchange all shares of FSBI common stock for cash. \u00a8 Exchange all shares of FSBI common stock for shares of PFS common stock. \u00a8 Exchange shares of FSBI common stock for shares of PFS common stock and the balance for cash. \u00a8 No Preference.", "snippet_links": [{"key": "consideration-to-be-received", "type": "clause", "offset": [112, 140]}, {"key": "shares-of", "type": "clause", "offset": [164, 173]}, {"key": "pfs-common-stock", "type": "definition", "offset": [174, 190]}, {"key": "combination-of-both", "type": "clause", "offset": [196, 215]}, {"key": "transfer-company", "type": "definition", "offset": [275, 291]}, {"key": "based-on", "type": "clause", "offset": [293, 301]}, {"key": "election-period", "type": "clause", "offset": [383, 398]}, {"key": "eastern-time", "type": "clause", "offset": [421, 433]}, {"key": "the-companies", "type": "definition", "offset": [446, 459]}, {"key": "effective-date-of-the-merger", "type": 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as Landholder under clause [5] of the Rail Corridor Agreement;\n(iii) amount derived by Aurizon Network (or the Head Company) in its capacity as a Preference Unit Holder in the Trust;\n(iv) amount derived by the Trustee pursuant to clause [19] of the Trust Deed;\n(v) amount derived or expense incurred by Aurizon Network (or the Head Company) in satisfying its obligations to repair or replace the Extension Infrastructure (or part thereof) under clause [4] of the Extension Infrastructure Sub-Lease;\n(vi) Stamp Duty payable on, in relation to, or as a consequence of any acquisition by Aurizon Network of Preference Units in the Trust;\n(vii) Liability for Tax that arises in respect of any amount by which the portion of the aggregate of Access Charges under applicable Access Agreements for a fiscal year that is attributable to the operation and maintenance of the Extension exceeds the expenditure incurred by Aurizon Network or the Head Company in relation to the operation and maintenance of the Extension during that fiscal year;\n(viii) failure by the Indemnified Entity making the Claim to comply with a Tax Law (except where that failure arises as a result of the Indemnified Entity adopting a position after forming the view, acting reasonably, that the position would more likely than not prevail if adjudicated by a court);\n(ix) demand made by the Indemnified Entity making a Claim after the expiry of 3 months after the expiration of the statutory period within which the relevant Governmental Agency may seek to recover the Tax to which the Claim relates;\n(x) amount equal to \u201cOPRA\u201d (as defined in [schedule 1] of the Extension Infrastructure Sub-Lease) derived by Aurizon Network;\n(xi) amount of interest derived by the Indemnified Entity making the Claim (or the Head Company where the Claim is made by Aurizon Network) pursuant to a clause of a Transaction Document that requires the payment of such interest;\n(xii) charges, Taxes and rates payable by Aurizon Network, as lessee, in accordance with clause [5.5] of the Extension Infrastructure Sub- Lease;\n(xiii) any amount in respect of which (and the extent to which) the Indemnified Entity has otherwise been compensated under another Transaction Document or another Claim previously made under this Deed;\n(xiv) any income tax payable by Aurizon Network (or the Head Company) in respect of distributions arising in consequence of the early termination of the Trust save to the extent to which the amounts assessable to Aurizon Network (or the Head Company) exceed the amount or value of distributions which Aurizon Network is entitled to receive in consequence of such termination;\n(xv) failure by the Indemnified Entity making the Claim to comply with or satisfy the facts and circumstances within a Ruling provided to that Indemnified Entity and which that Indemnified Entity can control or comply with or satisfy or in respect of which that Indemnified Entity is or was responsible for accuracy; 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No Obligor Party has any intent to hinder, delay or defraud any present or future creditor, through such conveyance or otherwise.", "snippet_links": [{"key": "obligor-party", "type": "definition", "offset": [5, 18]}, {"key": "represents-that", "type": "clause", "offset": [19, 34]}, {"key": "the-obligations", "type": "clause", "offset": [35, 50]}, {"key": "other-creditors", "type": "clause", "offset": [118, 133]}, {"key": "no-obligor", "type": "clause", "offset": [157, 167]}], "samples": [{"hash": "2vyqh9niNvq", "uri": "/contracts/2vyqh9niNvq#no-preference", "label": "Loan Agreement (Horizon Group Properties Inc)", "score": 18.0, "published": true}], "size": 1, "hash": "d380c3a6f71a461f8b1342543938688d", "id": 10}], "next_curs": "ClYSUGoVc35sYXdpbnNpZGVyY29udHJhY3RzcjILEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhZuby1wcmVmZXJlbmNlIzAwMDAwMDBhDKIBAmVuGAAgAA==", "clause": {"title": "No Preference", "parents": [["general-provisions", "General Provisions"], ["principal-office", "Principal Office"], ["roles-responsibilities-and-authority-of-the-parties", "ROLES, RESPONSIBILITIES AND AUTHORITY OF THE PARTIES"], ["use-of-ups-information", "Use of UPS Information"], ["display-of-ups-information", "Display of UPS Information"]], "size": 41, "children": [["", ""], ["no-preference", "No Preference"]], "id": "no-preference", "related": [["ohio-preference", "Ohio Preference", "Ohio Preference"], ["shift-preference", "Shift Preference", "Shift Preference"], ["no-preferential-rights", "No Preferential Rights", "No Preferential Rights"], ["domestic-preference", "Domestic Preference", "Domestic Preference"], ["bid-preference", "BID PREFERENCE", "BID PREFERENCE"]], "related_snippets": [], "updated": "2025-11-18T05:27:50+00:00", "also_ask": [], "drafting_tip": "Clarify the meaning of 'No Preference' to prevent misinterpretation; specify applicable contexts to ensure consistent application; avoid vague language to reduce disputes.", "explanation": "A \"No Preference\" clause establishes that neither party is given priority or special consideration over the other within the context of the agreement. In practice, this means that the terms and obligations apply equally to all parties, and no one is favored in the interpretation or enforcement of the contract. This clause is commonly used to ensure fairness and to prevent disputes over perceived bias, thereby promoting equal treatment and reducing the risk of claims that the contract is skewed in favor of one side."}, "json": true, "cursor": ""}}