Common use of Additional Adjustments Clause in Contracts

Additional Adjustments. (i) If at any time or from time to time conditions arise by reason of action taken by the Company which are not adequately covered by the provisions of this Section 6, and which might materially and adversely affect the exercise rights of the Holders of Warrants, upon the request of a majority in interest of the Holders the Company shall appoint a firm of independent certified public accountants of recognized national standing (which may be the regular auditors of the Company), which shall give their opinion upon the adjustment, if any, of the number of Warrant Shares purchasable upon the exercise of the Warrants, on a basis consistent with the standards established in the other provisions of this Section 6 and assuming all other adjustments required pursuant to this Section 6 have been made, necessary in order to preserve without diminution the rights of the holders of the Warrants. Upon receipt of such opinion, the Board of Directors of the Company shall forthwith make the adjustments described therein. (ii) Notwithstanding any other provision hereof, any antidilution adjustments made pursuant to the terms hereof or of the Notes, the Other Warrants, or the

Appears in 4 contracts

Samples: Securities Purchase Agreement (Kevco Partners Investment Trust), Warrant Agreement (Kevco Inc), Securities Purchase Agreement (Kevco Inc)

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Additional Adjustments. (i) If at any time or from time to time conditions arise by reason of action taken by the Company which are not adequately covered by the provisions of this Section 66.3, and which might materially and adversely affect the exercise rights of the Holders of WarrantsNotes, upon the request of a majority in interest of the Holders the Company shall appoint a firm of independent certified public accountants of recognized national standing (which may be the regular auditors of the Company), which shall give their opinion upon the adjustment, if any, of the number of Warrant Shares purchasable shares issuable upon the exercise exchange of the WarrantsNotes, on a basis consistent with the standards established in the other provisions of this Section 6 6.3 and assuming all other adjustments required pursuant to this Section 6 6.3 have been made, necessary in order to preserve without diminution the rights of the holders Holders of the WarrantsNotes. Upon receipt of such opinion, the Board of Directors of the Company shall forthwith make the adjustments described therein. (ii) Notwithstanding any other provision hereof, any antidilution adjustments made pursuant to the terms hereof or of the Warrants, the Tranche B Notes, and the Other WarrantsConvertible Preferred Stock shall be deemed to be made simultaneously, or thethe intention being to avoid any iterative calculations.

Appears in 3 contracts

Samples: Securities Purchase Agreement (Kevco Inc), Securities Purchase Agreement (Kevco Inc), Securities Purchase Agreement (Kevco Partners Investment Trust)

Additional Adjustments. (i) If at any time or from time to time conditions arise by reason of action taken by the Company which are not adequately covered by the provisions of this Section 6, and which might materially and adversely affect the exercise rights of the Holders of Warrants, upon the request of a majority in interest of the Holders the Company shall appoint a firm of independent certified public accountants of recognized national standing (which may be the regular auditors of the Company), which whi ch shall give their opinion upon the adjustment, if any, of the number of Warrant Shares purchasable upon the exercise of the Warrants, on a basis consistent with the standards established in the other provisions of this Section 6 and assuming all other adjustments required pursuant to this Section 6 have been made, necessary in order to preserve without diminution the rights of the holders of the Warrants. Upon receipt of such opinion, the Board of Directors of the Company shall forthwith make the adjustments described therein. (ii) Notwithstanding any other provision hereof, any antidilution adjustments made pursuant to the terms hereof or of the Notes, the Other Warrants, or thethe Preferred Stock shall be deemed to be made to all warrants held by the Holders or their Affiliates in this series simultaneously, the intention being to avoid any iterative calculations.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Kevco Inc), Warrant Agreement (Kevco Inc)

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Additional Adjustments. (i) If at any time or from time to time conditions arise by reason of action taken by the Company which are not adequately covered by the provisions of this Section 6, and which might materially and adversely affect the exercise rights of the Holders of Warrants, upon the request of a majority in interest of the Holders the Company shall appoint a firm of independent certified public accountants of recognized national standing (which may be the regular auditors of the Company), which shall give their opinion upon the adjustment, if any, of the number of Warrant Shares purchasable upon the exercise of the Warrants, on a basis consistent with the standards established in the other provisions of this Section 6 and assuming all other adjustments required pursuant to this Section 6 have been made, necessary in order to preserve without diminution the rights of the holders of the Warrants. Upon receipt of such opinion, the Board of Directors of the Company shall forthwith make the adjustments described therein. (ii) Notwithstanding any other provision hereof, any antidilution adjustments made pursuant to the terms hereof or of the Notes, the Other Warrants, or thethe Preferred Stock shall be deemed to be made to all warrants held by the Holders or their Affiliates in this series simultaneously, the intention being to avoid any iterative calculations.

Appears in 1 contract

Samples: Securities Purchase Agreement (Kevco Partners Investment Trust)

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