Sale and Delivery of Securities. On the basis of the representations, warranties and agreements herein contained, but subject to the terms and conditions herein set forth, the Company and each of the Managers agrees that the Company may from time to time seek to sell Shares through a Manager, acting as sales agent, or directly to a Manager acting as principal, as follows: (a) The Company may submit to a Designated Manager (as defined below) an order (including any price, time or size limits or other customary parameters or conditions) (a “Company Order”) to sell Shares on any Trading Day (as defined herein) in a form and manner as mutually agreed to by the Company and the Designated Manager; provided that the Company will only submit a Company Order to one of the Managers on any single given Trading Day, but in no event more than one Manager, and the Company shall in no event request that the Designated Manager and any other Managers sell Shares on the same day; provided, however, that the foregoing limitation shall only apply with respect to the Managers acting as sales agents. As used herein, “Designated Manager” shall mean, with respect to any Company Order, the Manager selected by the Company to act as sales agent, provided that such Manager selected by the Company has agreed to act as sales agent; and “Trading Day” shall mean any trading day on the New York Stock Exchange (the “NYSE”).
Appears in 4 contracts
Samples: Equity Distribution Agreement (Macerich Co), Equity Distribution Agreement (Macerich Co), Equity Distribution Agreement (Macerich Co)
