Common use of Upon Early Settlement of Purchase Contracts by a Holder of the related Securities Clause in Contracts

Upon Early Settlement of Purchase Contracts by a Holder of the related Securities. the Company shall issue, and the Holder shall be entitled to receive, ____ newly issued shares of Common Stock per Corporate Unit or Treasury Unit (the "Early Settlement Rate") (regardless of the market price of the Common Stock on the date of Early Settlement); provided, however, that upon the Early Settlement of the Purchase Contracts, the Holder of such related Securities will forfeit the right to receive any Deferred Contract Adjustment Payments. The Early Settlement Rate shall be adjusted in the same manner and at the same time as the Settlement Rate is adjusted, in accordance with Section 5.6. As promptly as practicable after Early Settlement of Purchase Contracts in accordance with the provisions of this Section 5.9, the Company shall issue and shall deliver to the Agent at the Corporate Trust Office a certificate or certificates for the full number of shares of Common Stock issuable upon such Early Settlement together with payment in lieu of any fraction of a share, as provided in Section 5.10.

Appears in 2 contracts

Sources: Purchase Contract Agreement (FPL Group Trust II), Purchase Contract Agreement (FPL Group Capital Inc)

Upon Early Settlement of Purchase Contracts by a Holder of the related Securities. the Company shall issue, and the Holder shall be entitled to receive, ____ newly issued a number of shares of Common Stock per Corporate Unit or Treasury Unit (on account of each Purchase Contract as to which Early Settlement is effected equal to the "Early Settlement Rate") (regardless of the market price of the Common Stock on the date of Early Settlement); provided, however, that upon the Early Settlement of the Purchase Contracts, the Holder of such related Securities will forfeit the right to receive any Deferred Contract Adjustment Yield Enhancement Payments. The Early Settlement Rate shall initially be equal to ____ and shall be adjusted in the same manner and at the same time as the Settlement Rate is adjusted, in accordance with Section 5.6. As promptly as practicable after Early Settlement of Purchase Contracts in accordance with the provisions of this Section 5.9, the Company shall issue and shall deliver to the Agent at the Corporate Trust Office a certificate or certificates for the full number of shares of Common Stock issuable upon such Early Settlement together with payment in lieu of any fraction of a share, as provided in Section 5.10.

Appears in 2 contracts

Sources: Purchase Contract Agreement (Medpartners Inc), Purchase Contract Agreement (Medpartners Inc)

Upon Early Settlement of Purchase Contracts by a Holder of the related Securities. the Company shall issue, and the Holder shall be entitled to receive, _______ newly issued shares of Common Stock per Corporate Unit or Treasury Unit on account of each Purchase Contract as to which Early Settlement is effected (the "Early Settlement Rate") (regardless of the market price of the Common Stock on the date of Early Settlement); provided, however, that upon the Early Settlement of the Purchase Contracts, the Holder of such related Securities will forfeit the right to receive any Deferred Contract Adjustment Payments. The Early Settlement Rate shall be adjusted in the same manner and at the same time as the Settlement Rate is adjusted, in accordance with Section 5.6. As promptly as practicable after Early Settlement of Purchase Contracts in accordance with the provisions of this Section 5.9, the Company shall issue and shall deliver to the Agent at the Corporate Trust Office a certificate or certificates for the full number of shares of Common Stock issuable upon such Early Settlement together with payment in lieu of any fraction of a share, as provided in Section 5.10.

Appears in 1 contract

Sources: Purchase Contract Agreement (FPL Group Capital Inc)

Upon Early Settlement of Purchase Contracts by a Holder of the related Securities. the Company shall issue, and the Holder shall be entitled to receive, ____ newly issued a number of shares of Common Stock per Corporate Unit or Treasury Unit (on account of each Purchase Contract as to which Early Settlement is effected equal to the "Early Settlement Rate") (regardless of the market price of the Common Stock on the date of Early Settlement); provided, however, that upon the Early Settlement of the Purchase Contracts, the Holder of such related Securities will forfeit the right to receive any Deferred deferred Contract Adjustment PaymentsFees. The Early Settlement Rate shall initially be equal to [ ] and shall be adjusted in the same manner and at the same time as the Settlement Rate is adjusted, in accordance with Section 5.6. As promptly as practicable after Early Settlement of Purchase Contracts in accordance with the provisions of this Section 5.95.09, the Company shall issue and shall deliver to the Agent at the Corporate Trust Office a certificate or certificates for the full number of shares of Common Stock issuable upon such Early Settlement together with payment in lieu of any fraction of a share, as provided in Section 5.10.

Appears in 1 contract

Sources: Purchase Contract Agreement (Financial Security Assurance Holdings LTD/Ny/)

Upon Early Settlement of Purchase Contracts by a Holder of the related Securities. the Company shall issue, and the Holder shall be entitled to receive, ____ newly issued a number of shares of Common Stock per Corporate Unit or Treasury Unit (on account of each Purchase Contract as to which Early Settlement is effected equal to the "Early Settlement Rate") (regardless of the market price of the Common Stock on the date of Early Settlement); provided, however, that upon the Early Settlement of the Purchase Contracts, the Holder of such related Securities will forfeit the right to receive any Deferred Contract Adjustment Yield Enhancement Payments. The Early Settlement Rate shall initially be equal to _____ and shall be adjusted in the same manner and at the same time as the Settlement Rate is adjusted, in accordance with Section 5.6. As promptly as practicable after Early Settlement of Purchase Contracts in accordance with the provisions of this Section 5.9, the Company shall issue and shall deliver to the Agent at the Corporate Trust Office a certificate or certificates for the full number of shares of Common Stock issuable upon such Early Settlement together with payment in lieu of any fraction of a share, as provided in Section 5.10.

Appears in 1 contract

Sources: Purchase Contract Agreement (CMS Energy Trust Ii)

Upon Early Settlement of Purchase Contracts by a Holder of the related Securities. the Company shall issue, and the Holder shall be entitled to receive, ____ newly issued a number of shares of Common Stock per Corporate Unit or Treasury Unit (on account of each 55 63 Purchase Contract as to which Early Settlement is effected equal to the "Early Settlement Rate") (regardless of the market price of the Common Stock on the date of Early Settlement); provided, however, that upon the Early Settlement of the Purchase Contracts, the Holder of such related Securities will forfeit the right to receive any Deferred Contract Adjustment Payments. The Early Settlement Rate shall initially be equal to ___ and shall be adjusted in the same manner and at the same time as the Settlement Rate is adjusted, in accordance with Section 5.6. As promptly as practicable after Early Settlement of Purchase Contracts in accordance with the provisions of this Section 5.9, the Company shall issue and shall deliver to the Agent at the Corporate Trust Office a certificate or certificates for the full number of shares of Common Stock issuable upon such Early Settlement together with payment in lieu of any fraction of a share, as provided in Section 5.10.

Appears in 1 contract

Sources: Purchase Contract Agreement (MCN Financing Iv)

Upon Early Settlement of Purchase Contracts by a Holder of the related Securities. the Company shall issue, and the Holder shall be entitled to receive, ____ newly issued shares of Common Stock per Corporate Unit or Treasury Unit on account of each Purchase Contract as to which Early Settlement is effected (the "Early Settlement Rate") (regardless of the market price of the Common Stock on the date of Early Settlement); providedPROVIDED, howeverHOWEVER, that upon the Early Settlement of the Purchase Contracts, the Holder of such related Securities will forfeit the right to receive any Deferred Contract Adjustment Payments. The Early Settlement Rate shall be adjusted in the same manner and at the same time as the Settlement Rate is adjusted, in accordance with Section 5.6. As promptly as practicable after Early Settlement of Purchase Contracts in accordance with the provisions of this Section 5.9, the Company shall issue and shall deliver to the Agent at the Corporate Trust Office a certificate or certificates for the full number of shares of Common Stock issuable upon such Early Settlement together with payment in lieu of any fraction of a share, as provided in Section 5.10.

Appears in 1 contract

Sources: Purchase Contract Agreement (Protective Life Corp)