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Common use of Voidability Clause in Contracts

Voidability. If prior to the execution hereof, the Board of Directors of the Company shall not have duly and validly authorized and approved by all necessary corporate action the acquisition of Company Common Stock by Parent and Purchaser and the other transactions contemplated by this Agreement and the Merger Agreement, so that by the execution and delivery hereof Parent or Purchaser would become, or could reasonably be expected to become, an "Interested Stockholder" with whom the Company would be prevented for any period pursuant to Section 203 of the Corporation Law from engaging in any "Affiliated transaction" (as such terms are defined in Section 203 of the Corporation Law), then this Agreement shall be void and unenforceable until such time as such authorization and approval shall have been duly and validly obtained.

Appears in 3 contracts

Samples: Stockholder Agreement (Byowc Partners LLC), Stockholder Agreement (Byowc Partners LLC), Stockholder Agreement (Godfrey Peter)

Voidability. If prior to the execution hereof, the Board board of Directors directors of the Company shall not have duly and validly authorized and approved by all necessary corporate action the acquisition of Company Common Stock by Parent and Purchaser and the other transactions contemplated by this Agreement and the Merger Agreement, so that by the execution and delivery hereof Parent or Purchaser would become, or could reasonably be expected to become, an "Interested Stockholderinterested stockholder" with whom the Company would be prevented for any period pursuant to Section 203 of the Delaware General Corporation Law from engaging in any "Affiliated affiliated transaction" (as such terms are defined in Section 203 of the Delaware General Corporation Law), then this Agreement shall be void and unenforceable until such time as such authorization and approval shall have been duly and validly obtained.

Appears in 3 contracts

Samples: Stockholders Agreement (International Paper Co /New/), Stockholders Agreement (International Paper Co /New/), Stockholders Agreement (Shorewood Packaging Corp)

Voidability. If prior to the execution hereof, the Board of Directors of the Company shall not have duly and validly authorized and approved by all necessary corporate action action, this Voting Agreement, the acquisition of Company Common Stock by Parent and Purchaser and the other transactions contemplated by this Merger Agreement and the Merger Agreementtransactions contemplated hereby and thereby, so that by the execution and delivery hereof Parent Buyer or Purchaser Merger Sub would become, or could reasonably be expected to become, an "Interested Stockholderinterested stockholder" with whom the Company would be prevented for any period pursuant to Section 203 of the Delaware General Corporation Law from engaging in any "Affiliated transactionbusiness combination" (as such terms are defined in Section 203 of the Delaware General Corporation Law), then this Voting Agreement shall be void and unenforceable until such time as such authorization and approval shall have been duly and validly obtained.

Appears in 2 contracts

Samples: Agreement and Plan of Reorganization (Etoys Inc), Merger Agreement (Etoys Inc)