Common use of Stripped Unit Clause in Contracts

Stripped Unit. Each Purchase Contract evidenced hereby obligates the Holder of this Stripped Unit Certificate to purchase, and the Company, to sell, on __________ (the "Purchase Contract Settlement Date"), at a price equal to $________ (the "Stated Amount"), a number of shares of Common Stock, without par value per share ("Common Stock"), of the Company equal to the Settlement Rate, unless on or prior to the Purchase Contract Settlement Date there shall have occurred a Termination Event or an Early Settlement with respect to the Stripped Units of which such Purchase Contract is a part, all as provided in the Purchase Contract Agreement and more fully described on the reverse hereof. The purchase price for the Common Stock purchased pursuant to each Purchase Contract evidenced hereby will be paid by application of the Proceeds from the Treasury Securities pledged to secure the obligations under such Purchase Contract in accordance with the terms of the Pledge Agreement. Reference is hereby made to the further provisions set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. Unless the certificate of authentication hereon has been executed by the Agent by manual signature, this Stripped Unit Certificate shall not be entitled to any benefit under the Pledge Agreement or the Purchase Contract Agreement or be valid or obligatory for any purpose.

Appears in 2 contracts

Samples: Purchase Contract Agreement (Dte Energy Co), Purchase Contract Agreement (Dte Energy Co)

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Stripped Unit. Each Purchase Contract evidenced hereby obligates the Holder of this Stripped Unit Units Certificate to purchase, and the Company, Company to sell, on __________ November 15, 2004 (the "Stock Purchase Contract Settlement Date"), at a price equal to $________ 25 (the "Stated Amount"), a number of shares of Common Stock, without $0.001 par value per share ("Common Stock"), of the Company Company, equal to the Settlement Rate, unless on or prior to the Stock Purchase Contract Settlement Date there shall have occurred a Termination Event or an Early Settlement or Merger Early Settlement (and the Holder has exercised its option to settle the Purchase Contract on the Merger Early Settlement Date) with respect to the Stripped Units of which such Purchase Contract is a part, all as provided in the Purchase Contract Agreement and more fully described on the reverse hereof. The purchase price Purchase Price (as defined herein) for the shares of Common Stock purchased pursuant to each Purchase Contract evidenced hereby will hereby, if not paid earlier, shall be paid on the Stock Purchase Date by application of payments received in respect of the Proceeds from the Pledged Treasury Securities pledged to secure the obligations under such Purchase Contract in accordance with the terms of the Pledge Agreement. Reference is hereby made to the further provisions set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. Unless the certificate of authentication hereon has been executed by the Agent by manual signature, this Stripped Unit Units Certificate shall not be entitled to any benefit under the Pledge Agreement or the Purchase Contract Agreement or be valid or obligatory for any purpose.

Appears in 1 contract

Samples: Purchase Contract Agreement (Solectron Corp)

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Stripped Unit. Each Purchase Contract evidenced hereby obligates the Holder of this Stripped Unit Units Certificate to purchase, and the Company, Company to sell, on __________ May 15, 2004 (the "Stock Purchase Contract Settlement Date"), at a price equal to $________ 50 (the "Stated Amount"), a number of shares of Common Stock, without par value per share ("Common Stock"), Stock of the Company Company, equal to the Settlement Rate, unless on or prior to the Stock Purchase Contract Settlement Date there shall have occurred a Termination Event or an Early Settlement or Merger Early Settlement with respect to the Stripped Units of which such Purchase Contract is a part, all as provided in the Purchase Contract Agreement and more fully described on the reverse hereof. The purchase price Purchase Price (as defined herein) for the shares of Common Stock purchased pursuant to each Purchase Contract evidenced hereby will hereby, if not paid earlier, shall be paid on the Stock Purchase Date by application of payments received in respect of the Proceeds from the Pledged Treasury Securities pledged to secure the obligations under such Purchase Contract in accordance with the terms of the Pledge Agreement. Reference is hereby made to the further provisions set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. Unless the certificate of authentication hereon has been executed by the Purchase Contract Agent by manual signature, this Stripped Unit Units Certificate shall not be entitled to any benefit under the Pledge Agreement or the Purchase Contract Agreement or be valid or obligatory for any purpose.

Appears in 1 contract

Samples: Purchase Contract Agreement (Raytheon Co/)

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