CVS » Topics » “Change of Control”

This excerpt taken from the CVS 8-K filed Mar 23, 2007.
“Change of Control”: any of the following:

     (i) any Person or group (as such term is used in Section 13(d)(3) of the Securities Exchange Act of 1934, as amended), (a) shall have or acquire beneficial ownership of securities having 30% or more of the ordinary voting power of the Borrower or (b) shall possess, directly or indirectly, the power to direct or cause the direction of the management and policies of the Borrower, whether through the ownership of voting securities, by contract or otherwise; or

     (ii) the Continuing Directors shall cease for any reason to constitute a majority of the board of directors of the Borrower then in office.

     
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