Common use of Limitation on Share Ownership Clause in Contracts

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)