Suspension of Exercisability. To the extent that the Company determines in good faith that some action will or need be taken pursuant to Section 3.1 or to comply with federal or state securities laws, the Company may suspend the exercisability of the Rights for a reasonable period in order to take such action or comply with such laws. In the event of any such suspension, the Company shall issue as promptly as practicable a public announcement stating that the exercisability or exchangeability of the Rights has been temporarily suspended. Notice thereof pursuant to Section 5.9 shall not be required.
Appears in 11 contracts
Sources: Shareholder Protection Rights Agreement (Forward Industries Inc), Shareholder Protection Rights Agreement (First of Long Island Corp), Shareholder Protection Rights Agreement (First of Long Island Corp)
Suspension of Exercisability. To the extent that the Company determines in good faith that some action will or need be taken pursuant to Section 3.1 3.1(c) or to comply with federal or state securities laws, the Company may suspend the exercisability of the Rights for a reasonable period of up to 90 days following the Separation Time or the Flip-in Date in order to take such action or comply with such laws. In the event of any such suspension, the Company shall issue as promptly as practicable a public announcement stating that the exercisability or exchangeability of the Rights has been temporarily suspended. Notice thereof pursuant to Section 5.9 shall not be required.
Appears in 1 contract
Sources: Stockholder Protection Rights Agreement (Charter One Financial Inc)