Common use of Shareholder Litigation Clause in Contracts

Shareholder Litigation. Until the earlier of the termination of this Agreement in accordance with its terms or the Effective Time, the Company shall give Parent the opportunity to participate in the defense or settlement of any shareholder litigation against the Company or the Company Board relating to this Agreement or any of the transactions contemplated by this Agreement, and shall not settle any such litigation without Parent’s prior written consent, which will not be unreasonably withheld or delayed.

Appears in 3 contracts

Samples: Merger Agreement (Kratos Defense & Security Solutions, Inc.), Merger Agreement (Sys), Agreement and Plan of Merger and Reorganization (Sys)

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Shareholder Litigation. Until Prior to the earlier of the Effective Time or the date of termination of this Agreement pursuant to Section 7.1: (a) the Company shall promptly advise Parent in accordance with writing of any shareholder litigation against the Company or its terms directors relating to this Agreement, the Offer or the Effective Time, Merger and shall keep Parent fully informed regarding any such shareholder litigation; and (b) the Company shall give Parent the opportunity to participate at Parent’s expense in the defense or settlement of any such shareholder litigation against the Company or the Company Board relating to this Agreement or any of the transactions contemplated by this Agreement, and shall not settle any such shareholder litigation without Parent’s the prior written consent, which will not be unreasonably withheld or delayedconsent of Parent.

Appears in 3 contracts

Samples: Merger Agreement (Abc-Mart, Inc.), Merger Agreement (Abc-Mart, Inc.), Merger Agreement (Lacrosse Footwear Inc)

Shareholder Litigation. Until Prior to the earlier of the Effective Time or the date of termination of this Agreement pursuant to Section 6.1 the Company shall promptly advise Parent in accordance with writing of any shareholder or derivative suit, action, litigation or claim against the Company or its terms directors relating to this Agreement or the Effective TimeMerger and shall keep Parent reasonably informed regarding any such shareholder litigation. The Company shall control such defense and this Section 4.9 shall not give Parent the right to direct such defense; provided, however, that the Company shall give Parent the opportunity to participate in the such defense or and, with respect to any settlement of any shareholder litigation against the Company or the Company Board relating in connection therewith, no such settlement shall be agreed to this Agreement or any of the transactions contemplated by this Agreement, and shall not settle any such litigation without Parent’s prior written consent, which will not be unreasonably withheld or delayed.

Appears in 2 contracts

Samples: Merger Agreement (Rosetta Genomics Ltd.), Merger Agreement (Rosetta Genomics Ltd.)

Shareholder Litigation. Until the earlier of the Prior to termination of this Agreement in accordance with its terms or the Effective TimeAgreement, the Company shall give Parent the opportunity to participate (at Parent's expense) in the defense or settlement of any shareholder litigation Litigation against the Company or the Company Board and its directors relating to this Agreement or any of the transactions contemplated by this AgreementTransactions; provided, and however, that no such settlement shall not settle any such litigation be agreed to without Parent’s 's prior written consent, which will consent (such consent not to be unreasonably withheld withheld, conditioned or delayed).

Appears in 1 contract

Samples: Merger Agreement (Tang Capital Partners Lp)

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Shareholder Litigation. Until Prior to the earlier of the Effective Time or the date of termination of this Agreement in accordance with its terms or the Effective Time, pursuant to Section 6.1: (a) the Company shall give promptly advise Parent the opportunity to participate in the defense or settlement writing of any shareholder litigation against the Company or the Company Board its directors relating to this Agreement or any of the transactions contemplated by this Agreement, Merger and shall not settle keep Parent reasonably informed regarding any such shareholder litigation; and (b) the Company shall control such defense and this Section 4.9 shall not give Parent the right to direct such defense; provided, however, that no settlement of such litigation shall be agreed to without Parent’s prior written consent, which will such consent not to be unreasonably withheld withheld, conditioned or delayed.

Appears in 1 contract

Samples: Merger Agreement (Ardea Biosciences, Inc./De)

Shareholder Litigation. Until Prior to the earlier of the Effective Time or the date of termination of this Agreement in accordance with its terms or the Effective Time, pursuant to Section 7.1: (a) the Company shall give promptly advise Parent the opportunity to participate in the defense or settlement writing of any shareholder litigation against the Company or the Company Board its directors relating to this Agreement or any of the transactions contemplated by this Agreement, the Offer or the Merger and shall not settle keep Parent fully informed regarding any such litigation shareholder litigation; (b) the Company shall give Parent the right to review and comment on all material filings or responses to be made by the Company in connection with any such shareholder litigation, the right to participate (at Parent’s expense) in connection with any such shareholder litigation, and no settlement shall be proposed or agreed to without Parent’s prior written consent, which will consent (such consent not to be unreasonably withheld withheld, conditioned or delayed).

Appears in 1 contract

Samples: Merger Agreement (GenMark Diagnostics, Inc.)

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