Right to Purchase Acquiring Person Stock. Alternatively, if the Company is acquired in a merger or other business combination transaction or 50% or more of its consolidated assets or earning power are sold, each holder of a Right will thereafter have the right to receive, upon the exercise thereof at the then current exercise price of the Right, that number of shares of common stock of the acquiring company which at the time of such transaction will have a market value of two times the exercise price of the Right (such right being called the "Merger Right"). Each holder of a Right (other than an Acquiring Person) will continue to have the Merger Right whether or not such holder exercises the Subscription Right.
Right to Purchase Acquiring Person Stock. Alternatively, if, in a transaction not approved by the Board of Directors and the Continuing Directors, the Company is acquired in a merger or other business combination or 50% or more of its assets or earning power are sold after a person or group has become an Acquiring Person, and the Company’s redemption right has expired, proper provision will be made so that each holder of a Right will thereafter have the right to purchase, upon exercise, that number of shares of common stock of the acquiring company as have a market value of two times the exercise price of the Right. In other words, a Rights holder may purchase the acquiring company’s common stock at a 50% discount.
Right to Purchase Acquiring Person Stock. Alternatively, if, in a transaction not approved by the Board of Directors and the Continuing Directors, the Company is acquired in a merger or other business combination or 50% or more of its assets or earning power are sold after a person or group has become an Acquiring Person, and the Company's redemption right has expired, proper provision will be made so that each holder of a Right will thereafter have the right to purchase, upon exercise, that number of shares of common stock of the acquiring company as have a market value of two times the exercise price of the Right. In other words, a Rights holder may purchase the acquiring company's common stock at a 50% discount. EXCHANGE OF COMPANY STOCK FOR RIGHTS At any time after any person or group becomes an Acquiring Person and before the Acquiring Person acquires 50% or more of the outstanding Common Shares, the Board of Directors may exchange the Rights (other than Rights owned by the Acquiring Person which will have become void), in whole or in part, for Common Shares for consideration per Right consisting of one-half of the securities that otherwise would be issuable.
Right to Purchase Acquiring Person Stock. Once the Rights are distributed, unless they are redeemed or the transaction is approved by the Continuing Directors, if the Company is merged with or into or combined or consolidated with another entity (whether or not related to an Acquiring Person); merged with or into or combined or consolidated with another entity and is the surviving corporation, but the Company’s Common Stock is changed into or exchanged for other securities or assets; is a party to a statutory share exchange; or more than 50% of the Company’s assets, earning power or cash flow is sold, then each Right will permit its holder to buy, at the $90.00 exercise price, $180.00 worth of shares of Common Stock of the acquiring company as prescribed in the Rights Agreement.
Right to Purchase Acquiring Person Stock. If, at any time following the Stock Acquisition Date, (i) the Company is acquired in a merger or other business combination transaction in which the Company is not the surviving corporation (other than a merger which follows an offer described in the second preceding paragraph), or (ii) 50% or more of the Company's assets, earning power or cash flow is sold or transferred, each holder of a Right (except Rights which have previously been voided as set forth above) shall thereafter have the right to receive, upon exercise, common stock of the acquiring company having a value equal to two times the exercise price of the Right. In other words, a Rights holder may purchase the acquiring company's common stock at a 50% discount.
Right to Purchase Acquiring Person Stock. Alternatively, if the Company is acquired in a merger or other business combination transaction or 50% or more of its consolidated assets or earning power are sold, each holder of a Right could then purchase shares of the acquiring company having a market value of two times the exercise price of the Right (such right being called the "Merger Right"). Each holder of a Right (other than an Acquiring Person) will continue to have the Merger Right whether or not such holder exercises the Subscription Right.
