Common use of Purchase of Shares of Common Stock Clause in Contracts

Purchase of Shares of Common Stock. Each Purchase Contract shall, unless a Termination Event has occurred as set forth in Section 5.7, an Early Settlement has occurred in accordance with Section 5.9 or a Merger Early Settlement has occurred in accordance with Section 5.10, obligate the Holder of the related PIES to purchase, and the Company to sell, on the Purchase Contract Settlement Date at a price equal to the Stated Amount (the "Purchase Price"), a number of newly issued shares of Common Stock equal to the Settlement Rate then in effect. The "Settlement Rate" is equal to: (1) if the Applicable Closing Price per share is equal to or greater than $16.62 (the "Threshold Appreciation Price"), 3.0084 shares of Common Stock per Purchase Contract; (2) if the Applicable Closing Price per share is less than the Threshold Appreciation Price, but greater than $13.85 (the "Reference Price"), the number of shares of Common Stock determined by dividing the Stated Amount by the Applicable Closing Price; and (3) if the Applicable Closing Price per share is less than or equal to the Reference Price, 3.6101 shares of Common Stock per Purchase Contract, in each case subject to adjustment as provided in Section 5.5 (and in each case rounded upward or downward to the nearest 1/10,000th of a share). Promptly after the calculation of the Settlement Rate and the Applicable Closing Price, the Company shall give the Purchase Contract Agent notice thereof. All calculations and determinations of the Settlement Rate and the Applicable Closing Price shall be made by the Company or its agent based on their good faith calculations, and the Purchase Contract Agent shall have no responsibility with respect thereto. As provided in Section 5.12, no fractional shares of Common Stock will be issued upon settlement of Purchase Contracts.

Appears in 3 contracts

Samples: Purchase Contract Agreement (Sierra Pacific Resources /Nv/), Purchase Contract Agreement (Sierra Pacific Resources), Purchase Contract Agreement (Sierra Pacific Resources /Nv/)

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Purchase of Shares of Common Stock. Each Purchase Contract shall, unless a Termination Event has occurred as set forth in Section 5.7, an Early Settlement has occurred in accordance with Section 5.9 or a Merger Early Settlement has occurred in accordance with Section 5.10hereof, obligate the Holder of the related PIES Security to purchase, and the Company to sell, on the Purchase Contract Settlement Date at a price equal to the Stated Amount (the "Purchase Price"), a number of newly issued shares of Common Stock equal to the Settlement Rate then in effectunless, on or prior to the Purchase Contract Settlement Date, there shall have occurred a Termination Event with respect to the Security of which such Purchase Contract is a part. The "Settlement Rate" is equal to: (1) if the Applicable Closing Price per share Market Value (as defined below) is equal to or greater than $16.62 ____ (the "Threshold Appreciation Price"), 3.0084 _____ shares of Common Stock per Purchase Contract; (2) if the Applicable Closing Price per share Market Value is less than the Threshold Appreciation Price, but greater than $13.85 _____ (the "Reference Price"), the number of shares of Common Stock determined by dividing having a value, based on the Applicable Market Value, equal to the Stated Amount by the Applicable Closing PriceAmount; and (3) if the Applicable Closing Price per share Market Value is less than or equal to the Reference Price, 3.6101 _____ shares of Common Stock per Purchase Contract, in each case subject to adjustment as provided in Section 5.5 5.6 (and in each case rounded upward or downward to the nearest 1/10,000th of a share). Promptly after the calculation of the Settlement Rate and the Applicable Closing PriceMarket Value, the Company shall give the Purchase Contract Agent notice thereof. All calculations and determinations of the Settlement Rate and the Applicable Closing Price Market Value shall be made by the Company or its agent based on their good faith calculations, and the Purchase Contract Agent shall have no responsibility with respect thereto. As provided in Section 5.125.10, no fractional shares of Common Stock will be issued upon settlement of Purchase Contracts.

Appears in 2 contracts

Samples: Purchase Contract Agreement (Keyspan Trust Iii), Purchase Contract Agreement (Keyspan Trust I)

Purchase of Shares of Common Stock. Each Purchase Contract shall, unless a Termination Event has occurred as set forth in Section 5.7, an Early Settlement has occurred in accordance with Section 5.9 or a Merger Early Settlement has occurred in accordance with Section 5.10, obligate the Holder of the related PIES Units to purchase, and the Company to sell, on the Purchase Contract Settlement Date at a price equal to the Stated Amount (the "Purchase Price"), a number of newly issued shares of Common Stock equal to the Settlement Rate then in effect. The "Settlement Rate" is equal to: (1) if the Applicable Closing Price per share is equal to or greater than $16.62 ___ (the "Threshold Appreciation Price"), 3.0084 ___ shares of Common Stock per Purchase Contract; (2) if the Applicable Closing Price per share is less than the Threshold Appreciation Price, but greater than $13.85 ___ (the "Reference Price"), the number of shares of Common Stock determined by dividing the Stated Amount by the Applicable Closing Price; and (3) if the Applicable Closing Price per share is less than or equal to the Reference Price, 3.6101 ___ shares of Common Stock per Purchase Contract, in each case subject to adjustment as provided in Section 5.5 (and in each case rounded upward or downward to the nearest 1/10,000th of a share). Promptly after the calculation of the Settlement Rate and the Applicable Closing Price, the Company shall give the Purchase Contract Agent notice thereof. All calculations and determinations of the Settlement Rate and the Applicable Closing Price shall be made by the Company or its agent based on their good faith calculations, and the Purchase Contract Agent shall have no responsibility with respect thereto. As provided in Section 5.12, no fractional shares of Common Stock will be issued upon settlement of Purchase Contracts.

Appears in 2 contracts

Samples: Purchase Contract Agreement (Amerigroup Corp), Purchase Contract Agreement (Amerigroup Corp)

Purchase of Shares of Common Stock. Each Purchase Contract shall, unless a Termination Event has occurred as set forth in Section 5.7, an Early Settlement has occurred in accordance with Section 5.9 or a Merger Early Settlement has occurred in accordance with Section 5.10, obligate the Holder of the related PIES Units to purchase, and the Company to sell, on the Purchase Contract Settlement Date at a price equal to the Stated Amount (the "Purchase Price"), a number of newly issued shares of Common Stock equal to the Settlement Rate then in effect. The "Settlement Rate" is equal to: (1) if the Applicable Closing Price per share is equal to or greater than $16.62 ____ (the "Threshold Appreciation Price"), 3.0084 _____ shares of Common Stock per Purchase Contract; (2) if the Applicable Closing Price per share is less than the Threshold Appreciation Price, but greater than $13.85 ____ (the "Reference Price"), the number of shares of Common Stock determined by dividing the Stated Amount by the Applicable Closing Price; and (3) if the Applicable Closing Price per share is less than or equal to the Reference Price, 3.6101 _____ shares of Common Stock per Purchase Contract, in each case subject to adjustment as provided in Section 5.5 (and in each case rounded upward or downward to the nearest 1/10,000th of a share). Promptly after the calculation of the Settlement Rate and the Applicable Closing Price, the Company shall give the Purchase Contract Agent notice thereof. All calculations and determinations of the Settlement Rate and the Applicable Closing Price shall be made by the Company or its agent based on their good faith calculations, and the Purchase Contract Agent shall have no responsibility with respect thereto. As provided in Section 5.12, no fractional shares of Common Stock will be issued upon settlement of Purchase Contracts.

Appears in 2 contracts

Samples: Purchase Contract Agreement (Dqe Capital Corp), Purchase Contract Agreement (Ohio Casualty Corp)

Purchase of Shares of Common Stock. Each Purchase Contract shall, unless a Termination Event has occurred as set forth in Section 5.7, an Early Settlement has occurred in accordance with Section 5.9 or a Merger Early Settlement has occurred in accordance with Section 5.10hereof, obligate the Holder of the related PIES Security to purchase, and the Company to sell, on the Purchase Contract Settlement Date at a price equal to the Stated Amount (the "Purchase Price"), a number of newly issued shares of Common Stock equal to the Settlement Rate then in effectunless, on or prior to the Purchase Contract Settlement Date, there shall have occurred a Termination Event with respect to the Security of which such Purchase Contract is a part. The "Settlement Rate" is equal to: (1) if the Applicable Closing Price per share Market Value (as defined below) is equal to or greater than $16.62 81.33 (the "Threshold Appreciation Price"), 3.0084 0.6148 shares of Common Stock per Purchase Contract; (2) if the Applicable Closing Price per share Market Value is less than the Threshold Appreciation Price, but greater than $13.85 59.80 (the "Reference Price"), the number of shares of Common Stock determined by dividing having a value, based on the Applicable Market Value, equal to the Stated Amount by the Applicable Closing PriceAmount; and (3) if the Applicable Closing Price per share Market Value is less than or equal to the Reference Price, 3.6101 0.8361 shares of Common Stock per Purchase Contract, in each case subject to adjustment as provided in Section 5.5 5.6 (and in each case rounded upward or downward to the nearest 1/10,000th of a share). Promptly after the calculation of the Settlement Rate and the Applicable Closing PriceMarket Value, the Company shall give the Purchase Contract Agent notice thereof. All calculations and determinations of the Settlement Rate and the Applicable Closing Price Market Value shall be made by the Company or its agent based on their good faith calculations, and the Purchase Contract Agent shall have no responsibility with respect thereto. As provided in Section 5.125.10, no fractional shares of Common Stock will be issued upon settlement of Purchase Contracts.

Appears in 1 contract

Samples: Purchase Contract Agreement (Dominion Resources Inc /Va/)

Purchase of Shares of Common Stock. Each Purchase Contract shall, unless a Termination Event has occurred as set forth in Section 5.7, an Early Settlement has occurred in accordance with Section 5.9 or a Merger Early Settlement has occurred in accordance with Section 5.10hereof, obligate the Holder of the related PIES Security to purchase, and the Company to sell, on the Purchase Contract Settlement Date at a price equal to the Stated Amount (the "Purchase Price"), a number of newly issued shares of Common Stock equal to the Settlement Rate then in effectunless, on or before the Purchase Contract Settlement Date, there shall have occurred a Termination Event with respect to the Security of which such Purchase Contract is a part. The "Settlement Rate" is equal to: (1) if the Applicable Closing Price per share Market Value (as defined below) is equal to or greater than $16.62 $ (the "Threshold Appreciation Price"), 3.0084 0. shares of ----- ----- Common Stock per Purchase Contract; (2) if the Applicable Closing Price per share Market Value is less than the Threshold Appreciation Price, but greater than $13.85 $ (the "Reference Price"), the ----- number of shares of Common Stock determined by dividing having a value, based on the Applicable Market Value, equal to the Stated Amount by the Applicable Closing PriceAmount; and (3) if the Applicable Closing Price per share Market Value is less than or equal to the Reference Price, 3.6101 0. shares of Common Stock per Purchase Contract, ----- in each case subject to adjustment as provided in Section 5.5 5.6 (and in each case rounded upward or downward to the nearest 1/10,000th of a share). Promptly after the calculation of the Settlement Rate and the Applicable Closing PriceMarket Value, the Company shall give the Purchase Contract Agent notice thereof. All calculations and determinations of the Settlement Rate and the Applicable Closing Price Market Value shall be made by the Company or its agent based on their good faith calculations, and the Purchase Contract Agent shall have no responsibility with respect thereto. As provided in Section 5.125.10, no fractional shares of Common Stock will be issued upon settlement of Purchase Contracts.

Appears in 1 contract

Samples: Purchase Contract Agreement (Dominion Resources Capital Trust Iv)

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Purchase of Shares of Common Stock. Each Purchase Contract shall, unless a Termination Event has occurred as set forth in Section 5.7, an Early Settlement has occurred in accordance with Section 5.9 or a Merger Early Settlement has occurred in accordance with Section 5.10, obligate the Holder of the related PIES to purchase, and the Company to sell, on the Purchase Contract Settlement Date at a price equal to the Stated Amount (the "Purchase Price"), a number of newly issued shares of Common Stock equal to the Settlement Rate then in effect. The "Settlement Rate" is equal to: (1) if the Applicable Closing Price per share is equal to or greater than $16.62 _____ (the "Threshold Appreciation Price"), 3.0084 ______ shares of Common Stock per Purchase Contract; (2) if the Applicable Closing Price per share is less than the Threshold Appreciation Price, but greater than $13.85 _____ (the "Reference Price"), the number of shares of Common Stock determined by dividing the Stated Amount by the Applicable Closing Price; and (3) if the Applicable Closing Price per share is less than or equal to the Reference Price, 3.6101 ______ shares of Common Stock per Purchase Contract, in each case subject to adjustment as provided in Section 5.5 (and in each case rounded upward or downward to the nearest 1/10,000th of a share). Promptly after the calculation of the Settlement Rate and the Applicable Closing Price, the Company shall give the Purchase Contract Agent notice thereof. All calculations and determinations of the Settlement Rate and the Applicable Closing Price shall be made by the Company or its agent based on their good faith calculations, and the Purchase Contract Agent shall have no responsibility with respect thereto. As provided in Section 5.12, no fractional shares of Common Stock will be issued upon settlement of Purchase Contracts.

Appears in 1 contract

Samples: Purchase Contract Agreement (Sierra Pacific Resources Capital Trust Ii)

Purchase of Shares of Common Stock. Each Purchase Contract shall, unless a Termination Event has occurred as set forth in Section 5.7, an Early Settlement has occurred in accordance with Section 5.9 or a Merger Early Settlement has occurred in accordance with Section 5.10hereof, obligate the Holder of the related PIES Security to purchase, and the Company to sell, on the Purchase Contract Settlement Date at a price equal to the Stated Amount (the "Purchase Price"), a number of newly issued shares of Common Stock equal to the Settlement Rate then in effectunless, on or prior to the Purchase Contract Settlement Date, there shall have occurred a Termination Event with respect to the Security of which such Purchase Contract is a part. The "Settlement Rate" is equal to: (1) if the Applicable Closing Price per share Market Value (as defined below) is equal to or greater than $16.62 61.20 (the "Threshold Appreciation Price"), 3.0084 0.8170 shares of Common Stock per Purchase Contract; (2) if the Applicable Closing Price per share Market Value is less than the Threshold Appreciation Price, but greater than $13.85 51.00 (the "Reference Price"), the number of shares of Common Stock determined by dividing having a value, based on the Applicable Market Value, equal to the Stated Amount by the Applicable Closing PriceAmount; and (3) if the Applicable Closing Price per share Market Value is less than or equal to the Reference Price, 3.6101 0.9804 shares of Common Stock per Purchase Contract, in each case subject to adjustment as provided in Section 5.5 5.6 (and in each case rounded upward or downward to the nearest 1/10,000th of a share). Promptly after the calculation of the Settlement Rate and the Applicable Closing PriceMarket Value, the Company shall give the Purchase Contract Agent notice thereof. All calculations and determinations of the Settlement Rate and the Applicable Closing Price Market Value shall be made by the Company or its agent based on their good faith calculations, and the Purchase Contract Agent shall have no responsibility with respect thereto. As provided in Section 5.125.10, no fractional shares of Common Stock will be issued upon settlement of Purchase Contracts.

Appears in 1 contract

Samples: Purchase Contract Agreement (Dominion Resources Inc /Va/)

Purchase of Shares of Common Stock. Each Purchase Contract shall, unless a Termination Event has occurred as set forth in Section 5.7, an Early Settlement has occurred in accordance with Section 5.9 or a Merger Early Settlement has occurred in accordance with Section 5.10hereof, obligate the Holder of the related PIES Security to purchase, and the Company to sell, on the Purchase Contract Settlement Date at a price equal to the Stated Amount (the "Purchase Price"), a number of newly issued shares of Common Stock equal to the Settlement Rate then in effectunless, on or prior to the Purchase Contract Settlement Date, there shall have occurred a Termination Event with respect to the Security of which such Purchase Contract is a part. The "Settlement Rate" is equal to: (1) if the Applicable Closing Price per share Market Value (as defined below) is equal to or greater than $16.62 _______ (the "Threshold Appreciation Price"), 3.0084 ________ shares of Common Stock per Purchase Contract; (2) if the Applicable Closing Price per share Market Value is less than the Threshold Appreciation Price, but greater than $13.85 ______ (the "Reference Price"), the number of shares of Common Stock determined by dividing having a value, based on the Applicable Market Value, equal to the Stated Amount by the Applicable Closing PriceAmount; and (3) if the Applicable Closing Price per share Market Value is less than or equal to the Reference Price, 3.6101 ___________ shares of Common Stock per Purchase Contract, in each case subject to adjustment as provided in Section 5.5 5.6 (and in each case rounded upward or downward to the nearest 1/10,000th of a share). Promptly after the calculation of the Settlement Rate and the Applicable Closing PriceMarket Value, the Company shall give the Purchase Contract Agent notice thereof. All calculations and determinations of the Settlement Rate and the Applicable Closing Price Market Value shall be made by the Company or its agent based on their good faith calculations, and the Purchase Contract Agent shall have no responsibility with respect thereto. As provided in Section 5.125.10, no fractional shares of Common Stock will be issued upon settlement of Purchase Contracts.

Appears in 1 contract

Samples: Purchase Contract Agreement (Dominion Resources Capital Trust Iv)

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