Limitation on Share Ownership. From the date of execution of this Agreement until the close of trading on the New York Stock Exchange on February 3, 2013 (the “Standstill Period”), ▇▇ ▇▇▇▇ and its affiliates shall not acquire any outstanding equity securities of the Company that would cause ▇▇ ▇▇▇▇ and its affiliates to beneficially own in the aggregate twenty percent (20%) or more of the Company’s outstanding equity securities (the “20% Limitation”); provided, however, that ▇▇ ▇▇▇▇ shall not be in breach of the 20% Limitation to the extent that its beneficial ownership percentage exceeds the 20% Limitation solely as a result of a reduction in the number of the Company’s outstanding equity securities (whether due to a share buyback, reverse stock split or other transaction).
Appears in 2 contracts
Sources: Standstill Agreement, Standstill Agreement (Exco Resources Inc)