Common use of Termination of Fund; No Liability Clause in Contracts

Termination of Fund; No Liability. At any time following twelve months after the Effective 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 deposited with the Paying Agent and which have not been disbursed to holders of Certificates, Stock Options, and Warrants, and thereafter such holders shall be entitled to look to the Surviving Corporation (subject to abandoned property, escheat or other similar laws) only as general creditors thereof with respect to the Merger Consideration payable upon due surrender of their Certificates, without any interest thereon. Notwithstanding the foregoing, none of Parent, the Surviving Corporation or the Paying Agent shall be liable to any holder of a Certificate for Merger Consideration delivered to a public official in good faith pursuant to any applicable abandoned property, escheat or similar law.

Appears in 2 contracts

Samples: Merger Agreement (Trace International Holdings Inc), Merger Agreement (Foamex Capital Corp)

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Termination of Fund; No Liability. At any time following twelve months after the Effective Time, the Surviving Corporation shall be entitled to require the Paying Agent to deliver to it any funds and securities (including any interest or dividends received with respect thereto) which had been deposited with made available to the Paying Agent and which have not been disbursed to holders of Certificates, Stock Options, and Warrants, and thereafter such holders shall be entitled to look to the Surviving Corporation (subject to abandoned property, escheat or other similar lawsLaws) only as general creditors thereof with respect to the Merger Consideration payable upon due surrender of their Certificates, without any interest thereon. Notwithstanding the foregoing, none of Parent, the Surviving Corporation or the Paying Agent shall be liable to any holder of a Certificate for the Merger Consideration delivered to a public official in good faith pursuant to any applicable abandoned property, escheat or similar lawLaw.

Appears in 2 contracts

Samples: Merger Agreement (General Electric Capital Corp), Merger Agreement (Security Capital Group Inc/)

Termination of Fund; No Liability. At any time following twelve months after the Effective 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 deposited with the Paying Agent and which have not been disbursed to holders of Certificates, vested Stock Options, and Warrants, and thereafter such holders shall be entitled to look to the Surviving Corporation (subject to abandoned property, escheat or other similar laws) only as general creditors thereof with respect to the Merger Consideration payable upon due surrender of their Certificates, without any interest thereon. Notwithstanding the foregoing, none of Parent, the Surviving Corporation or the Paying Agent shall be liable to any holder of a Certificate for Merger Consideration delivered to a public official in good faith pursuant to any applicable abandoned property, escheat or similar law.

Appears in 2 contracts

Samples: Merger Agreement (Foamex International Inc), Merger Agreement (Trace International Holdings Inc)

Termination of Fund; No Liability. At any time following the day which is twelve (12) months after the Effective Time, the Surviving Corporation Company shall be entitled to require the Paying Agent to deliver to it any funds (including any interest earnings received with respect thereto) which had been deposited with made available to the Paying Agent and which have not been disbursed to holders of Certificates, Stock Options, and Warrantscertificates, and thereafter such holders shall be entitled to look only to the Surviving Corporation Company (subject to abandoned property, escheat or other similar laws) and only as general creditors thereof with respect to the Merger Consideration payable upon due surrender of their Certificatescertificates, without any interest thereon. Notwithstanding the foregoing, none of Parent, neither the Surviving Corporation or Company nor the Paying Agent shall be liable to any holder of a Certificate certificate for Merger Consideration delivered to a public official in good faith pursuant to any applicable abandoned property, escheat or similar law.

Appears in 1 contract

Samples: Merger Agreement (U S Vision Inc)

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Termination of Fund; No Liability. At any time following twelve four months after the Effective 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 deposited with made available to the Paying Agent and which have not been disbursed to holders of Certificates, Stock Options, and Warrantsshall be repaid to the Surviving Corporation, and thereafter such holders shall be entitled to look to the Surviving Corporation (subject to abandoned property, escheat or other similar laws) only as general creditors thereof with respect to the Merger Consideration payable upon due surrender of their Certificates, without any interest thereon. Notwithstanding the foregoing, none of Parent, neither the Surviving Corporation or nor the Paying Agent shall be liable to any holder of a Certificate for Merger Consideration delivered to a public official in good faith pursuant to any applicable abandoned property, escheat or similar law.

Appears in 1 contract

Samples: Merger Agreement (Integrated Health Services Inc)

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