Common use of Unconditional Right of Holders to Receive Contract Adjustment Payments and to Purchase Common Stock Clause in Contracts

Unconditional Right of Holders to Receive Contract Adjustment Payments and to Purchase Common Stock. In the event that Contract Adjustment Payments shall constitute a component of Corporate PIES or Treasury PIES, the Holder of any Corporate PIES or Treasury PIES shall have the right, which is absolute and unconditional (subject to the payment by a holder of Contract Adjustment Payments pursuant to Section 5.9(a)), to receive payment of each installment of the Contract Adjustment Payments with respect to the Purchase Contract constituting a part of such Security on the respective Payment Date for such Security and 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 4 contracts

Samples: Purchase Contract Agreement (Bank United Corp), Purchase Contract Agreement (Bank United Corp), Purchase Contract Agreement (Nipsco Industries Inc)

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Unconditional Right of Holders to Receive Contract Adjustment Payments and to Purchase Common Stock. In the event that Contract Adjustment Payments shall constitute a component of Corporate PIES or Treasury PIES, the The Holder of any Corporate PIES Income PRIDES or Treasury PIES Growth PRIDES shall have the right, which is absolute and unconditional (subject to the right of the Company to defer payment by a holder thereof pursuant to Section 5.3, and to the forfeiture of any Deferred Contract Adjustment Payments upon Early Settlement pursuant to Section 5.9(a)5.9(b) or upon the occurrence of a Termination Event), to receive payment of each installment of the Contract Adjustment Payments Payments, if any, with respect to the Purchase Contract constituting a part of such Security on the respective Payment Date for such Security and 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 3 contracts

Samples: Purchase Contract Agreement (El Paso Corp/De), Purchase Contract Agreement (Kaufman & Broad Home Corp), Purchase Contract Agreement (Coastal Corp)

Unconditional Right of Holders to Receive Contract Adjustment Payments and to Purchase Common Stock. In the event that Contract Adjustment Payments shall constitute a component of Corporate PIES or Treasury PIES, the The Holder of any Corporate PIES Units or Treasury PIES Units shall have the right, which is absolute and unconditional unconditional, (1) (subject to the payment by a holder forfeiture of any accrued Contract Adjustment Payments upon Early Settlement or Merger Early Settlement pursuant to Section 5.9(a)), 5.2(a) or upon the occurrence of a Termination Event) to receive payment of each installment of the Contract Adjustment Payments Payments, if any, with respect to the Purchase Contract constituting a part of such Security on the respective Payment Date for such Security Security, and (2) (subject to the occurrence of a Termination Event) 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 (Centurytel Inc)

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Unconditional Right of Holders to Receive Contract Adjustment Payments and to Purchase Common Stock. In the event that Contract Adjustment Payments shall constitute a component of Corporate PIES or Treasury PIES, the The Holder of any Corporate PIES Income PRIDES or Treasury PIES Growth PRIDES shall have the right, which is absolute and unconditional (subject to the right of the Company to defer payment by a holder thereof pursuant to Section 5.3 and subject to the forfeiture of any Deferred Contract Adjustment Payments upon Early Settlement pursuant to Section 5.9(a)5.9(b) or upon the occurrence of a Termination Event), to receive payment of each installment of the Contract Adjustment Payments with respect to the Purchase Contract constituting a part of such Security on the respective Payment Date for such Security and 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.such

Appears in 1 contract

Samples: Purchase Contract Agreement (American Heritage Life Investment Corp)

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