Preemptive and Appraisal Rights. Except as may be provided by the Board of Trustees in authorizing the issuance of Preferred Shares pursuant to Section 5.3, no holder of Shares shall, as such holder, (a) have any preemptive right to purchase or subscribe for any additional Shares or any other security of the Trust which the Trust may issue or sell or (b), except as expressly required by Title 8, have any right to require the Trust to pay him the fair value of his Shares in an appraisal or similar proceeding.
Appears in 3 contracts
Samples: Agreement and Plan of Combination (Rockefeller Center Properties Inc), Merger Agreement (Equity Residential Properties Trust), Merger Agreement (Equity Residential Properties Trust)
Preemptive and Appraisal Rights. Except as may be provided by the Board of Trustees in authorizing setting the issuance terms of Preferred classified or reclassified Shares pursuant to Section 5.36.4, or as may otherwise be provided by contract, no holder of Shares shall, as such holder, (a) have any preemptive right to purchase or subscribe for any additional Shares of the Trust or any other security of the Trust which the Trust it may issue or sell or (b), except as expressly required by Title 8the MRL, have any right to require the Trust to pay him such holder the fair value of his Shares in an appraisal or similar proceeding.
Appears in 2 contracts
Samples: Merger Agreement (Kranzco Realty Trust), Merger Agreement (Cv Reit Inc)
