Financing of the Offer. The proceeds received by BMOC from Patriot ---------------------- under the Subscription Agreement shall be used by BMOC to fund BMOC's payment obligations under the Offer. Patriot agrees to provide, or cause an affiliate of Patriot to provide, to Cal Jockey the financing necessary to fund Cal Jockey's payment obligations under the Offer after the expiration of the Offer. In accordance with Rule 13e-4 of the Exchange Act, following expiration of the Offer and Cal Jockey's and BMOC's acceptance for payment of Paired Shares tendered in the Offer, the parties agree to cause the funds to finance the Offer to be placed with a depositary bank which shall be chosen by mutual agreement of the parties.
Appears in 1 contract
Sources: Agreement and Plan of Merger (Patriot American Hospitality Inc)
Financing of the Offer. The proceeds received by BMOC from Patriot ---------------------- under the Subscription Agreement shall be used by BMOC to fund BMOC's payment obligations under the Offer. Patriot agrees to provide, or cause an affiliate of Patriot to provide, to Cal Jockey the financing necessary to fund Cal Jockey's payment obligations under the Offer after the expiration of the Offer. In accordance with Rule 13e-4 of the Exchange Act, following expiration of the Offer and Cal Jockey's and BMOC's acceptance for payment of Paired Shares tendered in the Offer, the parties agree to cause the funds to finance the Offer to be placed with a depositary bank which shall be chosen by mutual agreement of the parties.
Appears in 1 contract
Sources: Agreement and Plan of Merger (Bay Meadows Operating Co)