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

Unconditional Right of Holders to Receive Contract Payments and to Purchase Shares of Common Stock. Each Holder of a Common Equity Unit shall have the right, which is absolute and unconditional, (i) subject to Article V, to receive each Contract Payment with respect to the Stock Purchase Contract comprising part of such Common Equity Units on the respective Payment Date for such Common Equity Units and (ii) except upon and following a Termination Event, to purchase shares of Common Stock pursuant to such Stock Purchase Contract and, in each such case, to institute suit for the enforcement of any such right to receive Contract Payments and the right to purchase shares of Common Stock, and such rights shall not be impaired without the consent of such Holder.

Appears in 3 contracts

Samples: Stock Purchase Contract Agreement (Metlife Inc), Stock Purchase Contract Agreement (Metlife Inc), Stock Purchase Contract Agreement (Metlife Inc)

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Unconditional Right of Holders to Receive Contract Payments and to Purchase Shares of Common Stock. Each Holder of a Common Equity Unit SPACES shall have the right, which is absolute and unconditional, (i) subject to Article V, to receive each Contract Payment with respect to the Stock Purchase Contract comprising part of such Common Equity Units SPACES on the respective Payment Date for such Common Equity Units SPACES and (ii) except upon and following a Termination Event, to purchase shares of Common Stock pursuant to such Stock Purchase Contract and, in each such case, to institute suit for the enforcement of any such right to receive Contract Payments and the right to purchase shares of Common Stock, and such rights shall not be impaired without the consent of such Holder.

Appears in 1 contract

Samples: Stock Purchase Contract Agreement (Marshall & Ilsley Corp/Wi/)

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