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. The Holder of any Corporate Units or Treasury Units shall have the right, which is absolute and unconditional, (1) (subject to the right of the Company to defer payment thereof pursuant to Section 5.3, and to the forfeiture of any Deferred Contract Adjustment Payments upon Early Settlement pursuant to Section 5.9(b) 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 (2) 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 (Duke Energy Corp), Purchase Contract Agreement (Duke Energy Corp)

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Unconditional Right of Holders to Receive Contract Adjustment Payments and to Purchase Common Stock. The Holder of any Corporate Units or Treasury Units shall have the right, which is absolute and unconditional, (1) (subject to the right of the Company to defer payment thereof pursuant to Section 5.3, and to the forfeiture of any Deferred accrued Contract Adjustment Payments upon Early Settlement and Merger Early Settlement pursuant to Section 5.9(b5.2(a) 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 (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)

Unconditional Right of Holders to Receive Contract Adjustment Payments and 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, (1) unconditional (subject to the right of the Company to defer payment thereof pursuant to Section 5.3, 5.3 and subject to the forfeiture of any Deferred Contract Adjustment Payments upon Early Settlement pursuant to Section 5.9(b) or upon the occurrence of a Termination Event) ), to receive payment of each installment of the Contract Adjustment Payments, if any, Payments with respect to the Purchase Contract constituting a part of such Security on the respective Payment Date for such Security, Security and (2) 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 (MCN Corp)

Unconditional Right of Holders to Receive Contract Adjustment Payments and to Purchase Common Stock. The Holder of any Corporate Units or Treasury Units shall have the right, which is absolute and unconditional, (1) (subject to the right of the Company to defer payment thereof pursuant to Section 5.3, and to the forfeiture of any Deferred accrued Contract Adjustment Payments upon Early Settlement or Merger Early Settlement pursuant to Section 5.9(b5.2(a) 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 (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. The Holder of any Corporate Units or Treasury Units shall have the right, which is absolute and unconditional, (1) (subject to the right of the Company to defer payment thereof pursuant to Section 5.3, and to the forfeiture of any Deferred Contract Adjustment Payments upon Early Settlement pursuant to Section 5.9(b) 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 (2) 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 (Duke Energy Corp)

Unconditional Right of Holders to Receive Contract Adjustment Payments and 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, (1) unconditional (subject to the right of the Company to defer payment thereof pursuant to Section 5.3, 5.3 and subject to the forfeiture of any Deferred Contract Adjustment Payments upon Early Settlement pursuant to Section 5.9(b) or upon the occurrence of a Termination Event) ), to receive payment of each installment of the Contract Adjustment Payments, if any, Payments with respect to the Purchase Contract constituting a part of such Security on the respective Payment Date for such Security, Security and (2) 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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