CCRT » Topics » Shareholder Rights Plan

This excerpt taken from the CCRT 8-K filed Nov 28, 2005.
Shareholder Rights Plan.  To the extent that the Company has a rights plan in effect upon conversion of the Securities into Common Stock, a Holder who converts Securities shall receive, in addition to shares of Common Stock, the rights under the rights plan, unless prior to any conversion, the rights have separated from the Common Stock, in which case the Conversion Rate shall be adjusted at the time of separation as if the Company distributed to all holders of the Common Stock, shares of the Company’s Capital Stock, evidences of indebtedness or assets as described in Section 10.04(d) above, subject to readjustment in the event of the expiration, termination or redemption of such rights.  In lieu of any such adjustment, the Company may amend such applicable shareholder rights agreement to provide that upon conversion of the Securities the Holders shall receive, in addition to the Common Stock issuable upon such conversion, the rights that would have attached to Common Stock if the rights had not become separated from the Common Stock under such applicable shareholder rights agreement.


Section 10.11.                      

"Shareholder Rights Plan" elsewhere:

CIT Group Inc (CIT)
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