Examples of Nortel Corporation in a sentence
In connection with, and effective as of May 1, 2000, Share Units granted or to be granted under the Plan and the shares subject to the Plan were adjusted and common shares of Nortel Corporation were substituted for common shares of Nortel Limited.
Any obligation of Nortel Limited with respect to Common Shares pursuant to the terms of the Plan is subject to compliance with all applicable laws, regulations, rules, orders of governmental or regulatory authorities and the requirements of any stock exchange upon which shares of Nortel Corporation are listed or traded.
Neither Nortel Corporation nor Nortel Limited shall in any event be obligated to the Participants to take any action to comply with any such laws, regulations, rules, orders or requirements.
Neither Nortel Limited nor Nortel Corporation shall be required to cause to be delivered Common Shares or certificates evidencing Common Shares pursuant to the Plan unless and until such delivery is in compliance with all applicable laws, regulations, rules, orders of governmental or regulatory authorities and the requirements of any stock exchange upon which shares of Nortel Corporation are listed or traded.
The purpose of the Plan is to assist Nortel Limited in attracting and retaining individuals with experience and ability to serve as members of the Board and to promote a greater alignment of interests between Eligible Directors and the shareholders of Nortel Corporation.
Notwithstanding the foregoing, the obtaining of the written consent of any Participant to an amendment which materially adversely affects the rights of such Participant with respect to any credited Share Unit or under any Election Form and Agreement shall not be required if such amendment is required to comply with applicable laws, regulations, rules, orders of governmental or regulatory authorities or the requirements of any stock exchange on which shares of Nortel Corporation are listed or traded.
The Share Units, and any related Common Shares that may be delivered under the Plan, have not been registered under the U.S. Securities Act of 1933, as amended, as of the effective date of the Plan and neither Nortel Corporation nor Nortel Limited has any obligation to register such Share Units or Common Shares.
Purchases of Common Shares pursuant to the Plan shall be made on the open market by a broker independent from Nortel Corporation and Nortel Limited designated by the Participant and who is a member of the TSE, the NYSE, or any such other stock exchange as may be determined by the Committee from time to time (the “Broker”).
The purpose of the Plan is to assist Nortel Corporation in attracting and retaining individuals with experience and ability to serve as members of the Board and to promote a greater alignment of interests between Eligible Directors and the shareholders of Nortel Corporation.
Nortel Corporation shall not in any event be obligated to the Participants to take any action to comply with any such laws, regulations, rules, orders or requirements.