Common use of Unconditional Right of Holders to Purchase Common Stock Clause in Contracts

Unconditional Right of Holders to Purchase Common Stock. The Holder of any Corporate Units or Treasury Units shall have the right, which is absolute and unconditional, (A) subject to the right of the Company to defer payment thereof pursuant to Section 5.3 hereof, and to the forfeiture of any Deferred Contract Adjustment Payments upon Early Settlement pursuant to Section 5.10(c) hereof or upon the occurrence of a Termination Event, to receive payment of each installment of the Contract Adjustment Payments, if any, with respect to the Purchase Contract constituting a part of such Security on the respective Payment Date for such Security, and (B) to purchase Common Stock pursuant to such Purchase Contract and, in each such case, to institute suit for the enforcement of any such payment and right to purchase Common Stock, and such rights shall not be impaired without the consent of such Holder.

Appears in 2 contracts

Samples: Purchase Contract Agreement (Alltel Corp), Purchase Contract Agreement (Alltel Corp)

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Unconditional Right of Holders to Purchase Common Stock. The Holder of any Corporate Units Income PRIDES or Treasury Units Growth PRIDES shall have the right, which is absolute and unconditional, (A) ), subject to the right of the Company to defer payment thereof pursuant to Section 5.3 hereof, and to the forfeiture of any Deferred Contract Adjustment Payments upon Early Settlement pursuant to Section 5.10(c) hereof or upon the occurrence of a Termination Event, to receive payment of each installment of the Contract Adjustment Payments, if any, with respect to the Purchase Contract constituting a part of such Security on the respective Payment Date for such Security, and (B) to purchase Common Stock pursuant to such Purchase Contract and, in each such case, to institute suit for the enforcement of any such payment and right to purchase Common Stock, and such rights shall not be impaired without the consent of such Holder.

Appears in 1 contract

Samples: Purchase Contract Agreement (Gabelli Asset Management Inc)

Unconditional Right of Holders to Purchase Common Stock. The Holder of any Corporate Units Upper DECS or Treasury Units Stripped DECS shall have the right, which is absolute and unconditional, (A) ), subject to the right of the Company to defer payment thereof pursuant to Section 5.3 hereof5.3, and to the forfeiture of any Deferred Contract Adjustment Payments upon Early Settlement pursuant to Section 5.10(c) hereof or upon the occurrence of a Termination Event, to receive payment of each installment of the Contract Adjustment Payments, if any, with respect to the Forward Purchase Contract constituting a part of such Security on the respective Payment Date for such Security, and (B) to purchase Common Stock pursuant to such Forward Purchase Contract and, in each such case, to institute suit for the enforcement of any such payment and right to purchase Common Stock, and such rights shall not be impaired without the consent of such Holder.

Appears in 1 contract

Samples: Forward Purchase Contract Agreement (Cendant Corp)

Unconditional Right of Holders to Purchase Common Stock. The Holder of any Corporate Units or Treasury Units shall have the right, which is absolute and unconditional, (A) subject to the right of the Company to defer payment thereof pursuant to Section 5.3 hereof, and to the forfeiture of any Deferred Contract Adjustment Payments upon Early Settlement pursuant to Section 5.10(c5.10(a) hereof or upon the occurrence of a Termination Event, to receive payment of each installment of the Contract Adjustment Payments, if any, with respect to the Purchase Contract constituting a part of such Security on the respective Payment Date for such Security, and (B) to purchase Common Stock pursuant to such Purchase Contract and, in each such case, to institute suit for the enforcement of any such payment and right to purchase Common Stock, and such rights shall not be impaired without the consent of such Holder.

Appears in 1 contract

Samples: Purchase Contract Agreement (St Paul Companies Inc /Mn/)

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Unconditional Right of Holders to Purchase Common Stock. The Holder of any Corporate Units Income PRIDES or Treasury Units Growth PRIDES shall have the right, which is absolute and unconditional, (A) ), subject to the right of the Company to defer payment thereof pursuant to Section 5.3 hereof5.3, and to the forfeiture of any Deferred Contract Adjustment Payments upon Early Settlement pursuant to Section 5.10(c) hereof or upon the occurrence of a Termination Event, to receive payment of each installment of the Contract Adjustment Payments, if any, with respect to the Purchase Contract constituting a part of such Security on the respective Payment Date for such Security, and (B) to purchase Common Stock pursuant to such Purchase Contract and, in each such case, to institute suit for the enforcement of any such payment and right to purchase Common Stock, and such rights shall not be impaired without the consent of such Holder.

Appears in 1 contract

Samples: Purchase Contract Agreement (Electronic Data Systems Corp /De/)

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