Common use of Remaining Funds Clause in Contracts

Remaining Funds. At any time following one year after the Payment Date, the Surviving Corporation shall be entitled to require the Paying Agent to deliver to it any funds (including any interest received with respect thereto) which had been made available to the Paying Agent and which have not been disbursed to holders of Certificates. Thereafter such holders shall be entitled to look to the Surviving Corporation (subject to abandoned property, escheat or other similar laws) only as a general creditor thereof with respect to the Common Merger Consideration payable upon surrender of their Certificates, without any interest thereon. Neither the Surviving Corporation nor the Paying Agent shall be liable to any holder of a Certificate for Common Merger Consideration delivered to a public official pursuant to any applicable abandoned property, escheat or similar law.

Appears in 2 contracts

Samples: Merger Agreement (Infousa Inc), Merger Agreement (Infousa Inc)

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Remaining Funds. At any time following one year after the Payment DateEffective Time, the Surviving Corporation shall be entitled to require the Paying Agent to deliver to it any funds (including any interest received with respect thereto) which had been made available to the Paying Agent and which have not been disbursed to holders of Certificates. Thereafter Thereafter, such holders shall be entitled to look to the Surviving Corporation (subject to abandoned property, escheat or other similar laws) only as a general creditor thereof with respect to the Common Merger Consideration payable upon surrender of their Certificates, without any interest thereon. Neither the Surviving Corporation nor the Paying Agent shall be liable to any holder of a Certificate for Common Merger Consideration delivered to a public official pursuant to any applicable abandoned property, escheat or similar law.

Appears in 1 contract

Samples: Merger Agreement (Fti Consulting Inc)

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Remaining Funds. At any time following one (1) year after the Payment DateEffective Time, the Surviving Corporation shall be entitled to require the Paying Agent to deliver to it any funds (including any interest received with respect thereto) which had been made available to the Paying Agent and which have not been disbursed to holders of Certificates. Thereafter Thereafter, such holders shall be entitled to look to the Surviving Corporation (subject to abandoned property, escheat or other similar laws) only as a general creditor thereof with respect to the Common Merger Consideration payable upon surrender of their Certificates, without any interest thereon. Neither None of Parent, the Surviving Corporation nor or the Paying Agent shall be liable to any holder of a Certificate for Common Merger Consideration delivered to a public official pursuant to any applicable abandoned property, escheat or similar law.

Appears in 1 contract

Samples: Merger Agreement (Readers Digest Association Inc)

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