Initial Stock Purchase Date definition
Examples of Initial Stock Purchase Date in a sentence
Thereafter, the Collateral Agent shall promptly remit the Proceeds in excess of the aggregate Purchase Price for the shares of Common Stock to be issued on the Initial Stock Purchase Date under such Stock Purchase Contracts to the Stock Purchase Contract Agent for payment to the Holders of the Normal Common Equity Units to which such Series A Trust Preferred Securities relate.
Without receiving any instruction from any Holder, the Collateral Agent shall instruct the Securities Intermediary (i) to remit the Proceeds of the related Pledged Series A Treasury Securities to the Company in settlement of such Stock Purchase Contracts on the Initial Stock Purchase Date and (ii) to remit the Proceeds of the related Pledged Series B Treasury Securities to the Company in settlement of such Stock Purchase Contracts on the Subsequent Stock Purchase Date.
Any cash so received shall be paid to the Company on the applicable Stock Purchase Date in partial settlement, in the case of the Initial Stock Purchase Date, and full settlement, in the case of the Subsequent Stock Purchase Date, of the Stock Purchase Contracts in accordance with the terms of this Agreement and the Pledge Agreement.
The representations and warranties of the Stock Purchaser contained in Article V of this Agreement shall be true on and as of the Initial Stock Purchase Date with respect to the Initial Stock Closing and on and as of the Additional Stock Purchase Date with respect to the Additional Stock Closing, with the same effect as though such representations and warranties had been made on and as of the Initial Stock Purchase Date or Additional Stock Purchase Date, as applicable.
The representations and warranties of the Company set forth in this Agreement shall be true and correct on and as of the Initial Stock Purchase Date with respect to the Initial Stock Closing and on and as of the Additional Stock Purchase Date with respect to the Additional Stock Closing, with the same effect as though such representations and warranties had been made on and as of the Initial Stock Purchase Date or the Additional Stock Purchase Date, as applicable.
Notwithstanding anything herein to the contrary, if the Initial Stock Purchase Date has not occurred on or prior to June 1, 1997, the Stock Purchaser's obligation to purchase the Initial Stock and the Additional Stock shall be terminated and the Note Purchaser's obligations to make Loans hereunder shall be terminated, in each case, as of such date.