Notice of Certain Events.
25.1 If (a) In case the Company shall
propose, at any time after the Distribution
Date propose Date, (i) to pay any dividend payable in stock of any class to the holders of
its Preferred
Shares Stock or to make any other distribution to the holders of
its Preferred
Shares Stock (other than a regular quarterly cash
dividend); dividend out of earnings or retained earnings of the Company), or (ii) to offer to the holders of
its Preferred
Shares Stock rights or warrants to subscribe for or to purcha
...se any additional shares of Preferred Shares Stock or shares of stock of any class or any other securities, rights or options; options, or (iii) to effect any reclassification of its Preferred Shares Stock (other than a reclassification involving only the subdivision of outstanding shares of Preferred Shares); Stock), or (iv) to effect any consolidation or merger into or with any other Person, Person (other than a Subsidiary of the Company in a transaction which complies with Section 11(o) hereof), or to effect any sale or other transfer (or to permit one or more of its Subsidiaries to effect any sale or other transfer), in one transaction or more a series of related transactions, of more than 50% or more of the assets assets, cash flow or Earning Power earning power of the Company and its Subsidiaries (taken as a whole) to any other Person; Person or Persons (other than the Company and/or any of its Subsidiaries in one or more transactions each of which complies with Section 11(o) hereof), or (v) to effect the liquidation, dissolution or winding-up winding up of the Company; or (vi) to declare or pay any dividend on the Common Shares payable in Common Shares, or to effect a subdivision, combination or consolidation of the Common Shares (by reclassification or otherwise than by payment of dividends in Common Shares), Company, then, in each such case, the Company shall give to each holder of a Right Certificate Rights Certificate, to the extent feasible and the Rights Agent, in accordance with Section 26, 25 hereof, a reasonably detailed notice of such proposed action, which shall specify the record date for the purposes of such stock dividend, or distribution of rights or warrants, or the date on which such reclassification, consolidation, merger, sale, transfer, liquidation, dissolution dissolution, or winding-up winding up is to take place and the date of participation therein by the holders of the Common Shares or shares of Preferred Shares or both, Stock, if any such date is to be fixed, and such notice shall be so given in the case of any action covered by clause (i) or (ii) above at least ten twenty (20) days prior to the record date for determining holders of the shares of Preferred Shares Stock for purposes of such action, and in the case of any such other action, at least ten twenty (20) days prior to the date of the 22. Table of Contents taking of such proposed action or the date of participation therein by the holders of the Common Shares or shares of Preferred Shares or both, Stock, whichever shall be the earlier. 25.2 The (b) In case any of the events set forth in Section 11(a)(ii) hereof shall occur, then, in any such case, (i) the Company shall, shall as soon as practicable after a Stock Acquisition Date, thereafter give to the Rights Agent and each holder of a Right Rights Certificate, to the extent feasible and in accordance with Section 26, 25 hereof, a notice that describes of the transaction in occurrence of such event, which shall specify the a Person became an Acquiring Person event and the consequences of the transaction event to holders of Rights under Section 11.1.2. 11(a)(ii) hereof, and (ii) all references in the preceding paragraph to Preferred Stock shall be deemed thereafter to refer to Common Stock and/or, if appropriate, other securities. Notwithstanding anything in this Agreement to the contrary and for the avoidance of doubt, the consummation of either of the Mergers contemplated by the Merger Agreement shall not, in and of themselves, give rise to any notice obligation under this Section 24.
View More
Notice of Certain Events. 25.1 If the Company shall after the Distribution Date propose (i) to pay any dividend payable in stock of any class to the holders of its
Preferred Common Shares or to make any other distribution to the holders of its
Preferred Common Shares (other than a regular quarterly cash dividend); (ii) to offer to the holders of its
Preferred Common Shares rights or warrants to subscribe for or to purchase any additional
Preferred Common Shares or shares of stock of any class or any other securities, rig
...hts or options; (iii) to effect any reclassification of its Preferred Common Shares (other than a reclassification involving only the subdivision of outstanding Preferred Common Shares); (iv) to effect any consolidation or merger into or with any other Person, or to effect any sale or other transfer (or to permit one or more of its Subsidiaries to effect any sale or other transfer), in one or more transactions, of 50% or more of the assets or Earning Power of the Company and its Subsidiaries (taken as a whole) to any other Person; (v) to effect the liquidation, dissolution or winding-up of the Company; or (vi) to declare or pay any dividend on the Common Shares payable in Common Shares, or to effect a subdivision, combination or consolidation of the Common Shares (by reclassification or otherwise than by payment of dividends in Common Shares), then, in each such case, the Company shall give to each holder of a Right Certificate and the Rights Agent, in accordance with Section 26, a reasonably detailed notice of such proposed action, which shall specify the record date for the purposes of such stock dividend, or distribution of rights or warrants, or the date on which such reclassification, consolidation, merger, sale, transfer, liquidation, dissolution or winding-up is to take place and the date of participation therein by the holders of the Common Shares or Preferred Common Shares or both, if any such date is to be fixed, and such notice shall be so given in the case of any action covered by clause (i) or (ii) above at least ten 10 days prior to the record date for determining holders of the Preferred Common Shares for purposes of such action, and in the case of any such other action, at least ten 10 days prior to the date of the taking of such proposed action or the date of participation therein by the holders of the Common Shares or Preferred Common Shares or both, whichever shall be the earlier. 25.2 The Company shall, as soon as practicable after a Stock Acquisition Date, give to the Rights Agent and each holder of a Right Certificate, in accordance with Section 26, a notice that describes the transaction in which the a Person became an Acquiring Person and the consequences of the transaction to holders of Rights under Section 11.1.2. 26. Notices. Notices or demands authorized by this Agreement to be given or made by the Rights Agent or by the holder of any Right Certificate to or on the Company shall be sufficiently given or made if in writing and when sent by overnight delivery service or first-class mail, postage prepaid, properly addressed (until another address is filed in writing with the Rights Agent) as follows: Avis Budget Group, Inc. 6 Sylvan Way Parsippany, New Jersey 07054 Attention: Jean M. Sera Subject to the provisions of Section 21, any notice or demand authorized by this Agreement to be given or made by the Company or by the holder of any Right Certificate to or on the Rights Agent shall be deemed given upon receipt and shall be sufficiently given or made if in writing when sent by overnight delivery service or registered or certified mail properly addressed (until another address is filed in writing with the Company) as follows: Computershare Inc. 150 Royall Street Canton, MA 02021 Attention: Client Services Notices or demands authorized by this Agreement to be given or made by the Company or the Rights Agent to the holder of any Right Certificate shall be sufficiently given or made if in writing, when sent by first-class mail, postage prepaid, addressed to such holder at the address of such holder as shown on the registry books of the Company.
View More
Notice of Certain Events.
35 25.1 If the Company shall after the Distribution Date propose (i) to pay any dividend payable in stock of any class to the holders of its
Preferred Common Shares or to make any other distribution to the holders of its
Preferred Common Shares (other than a regular
quarterly periodic cash
dividend); dividend, if any); (ii) to offer to the holders of its
Preferred Common Shares rights or warrants to subscribe for or to purchase any additional
Preferred Common Shares or shares of stock of any cla
...ss or any other securities, rights or options; (iii) to effect any reclassification of its Preferred Common Shares (other than a reclassification involving only the subdivision of outstanding Preferred Common Shares); (iv) to effect any consolidation or merger into or with any other Person, or to effect any sale or other transfer (or to permit one or more of its Subsidiaries to effect any sale or other transfer), in one or more transactions, of 50% or more of the assets or Earning Power of the Company and its Subsidiaries (taken as a whole) to any other Person; (v) to effect the liquidation, dissolution or winding-up winding up of the Company; or (vi) to declare or pay any dividend on the Common Shares payable in Common Shares, or to effect a subdivision, combination or consolidation of the Common Shares (by reclassification or otherwise than by payment of dividends in Common Shares), then, in each such case, the Company shall give to the Rights Agent and to each holder of a Right Certificate and the Rights Agent, Right, in accordance with Section 26, a reasonably detailed notice of such the proposed action, which shall specify the record date for the purposes of such a stock dividend, or distribution of rights or warrants, or the date on which such a reclassification, consolidation, merger, sale, transfer, liquidation, dissolution or winding-up winding up is to take place and the date of participation therein by the holders of the Common Shares or Preferred Shares or both, Shares, if any such date is to be fixed, and such the notice shall be so given given, in the case of any action covered by clause (i) or (ii) above above, at least ten (10) days prior to the record date for determining holders of the Preferred Common Shares for purposes of such action, and and, in the case of any such other action, action covered by clauses (iii) to (vi) above, at least ten (10) days prior to the date of the taking of such the proposed action or the date of participation therein by the holders of the Common Shares or Preferred Shares or both, Shares, whichever shall be the earlier. The failure to give notice required by this Section 25.1 or any defect therein shall not affect the legality or validity of the action taken by the Company or the vote upon any such action. 25.2 The In case any Section 11.1.2 Event shall occur, then the Company shall, shall as soon as practicable after a Stock Acquisition Date, thereafter give to the Rights Agent and each holder of a Right Rights Certificate, in accordance with Section 26, 26 hereof, a notice that describes of the transaction in occurrence of the event, which notice shall specify the a Person became an Acquiring Person event and the consequences of the transaction event to holders of Rights under Section 11.1.2. 11.1.2 hereof.
View More