Common use of Adjustment for Cash Dividends Clause in Contracts

Adjustment for Cash Dividends. If, after the date hereof, the Company distributes to all or substantially all holders of its Common Stock any dividends payable exclusively in cash, the Conversion Price shall be adjusted in accordance with the formula: R1 = R × SP-C SP where: R1 = the Conversion Price in effect immediately after the open of business on the Ex-Dividend Date for such distribution; R = the Conversion Price in effect immediately prior to the open of business on the Ex-Dividend Date for such distribution; SP = the average of the Closing Sale Prices of Common Stock over the ten (10) consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the Ex-Dividend Date for such distribution; and C = the amount in cash per share the Company distributes to holders of Common Stock. The adjustment shall become effective immediately after the open of business on the Ex-Dividend Date with respect to the distribution.

Appears in 1 contract

Samples: Securities Purchase Agreement (Prospect Global Resources Inc.)

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Adjustment for Cash Dividends. If, after the date hereofIssue Date of the Securities, the Company distributes to all or substantially all holders of its Common Stock any dividends payable exclusively in cash, the Conversion Price Rate shall be adjusted in accordance with the formula: R1 = R × SP-C SP where: R1 = the Conversion Price Rate in effect immediately after the open of business on the Ex-Dividend Date for such distribution; R = the Conversion Price Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such distribution; SP = the average of the Closing Sale Prices of Common Stock over the ten (10) 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the Ex-Dividend Date for such distribution; and C = the amount in cash per share the Company distributes to holders of Common Stock. The adjustment shall become effective immediately after the open of business on the Ex-Dividend Date with respect to the distribution.

Appears in 1 contract

Samples: Indenture (Saks Inc)

Adjustment for Cash Dividends. If, after the date hereofof the Original Agreement, the Company distributes to all or substantially all holders of its Common Stock any dividends payable exclusively in cash, the Conversion Price shall be adjusted in accordance with the formula: R1 = R × SP-C SP where: R1 = the Conversion Price in effect immediately after the open of business on the Ex-Dividend Date for such distribution; R = the Conversion Price in effect immediately prior to the open of business on the Ex-Dividend Date for such distribution; SP = the average of the Closing Sale Prices of Common Stock over the ten (10) consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the Ex-Dividend Date for such distribution; and C = the amount in cash per share the Company distributes to holders of Common Stock. The adjustment shall become effective immediately after the open of business on the Ex-Dividend Date with respect to the distribution.

Appears in 1 contract

Samples: Securities Purchase Agreement (Prospect Global Resources Inc.)

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Adjustment for Cash Dividends. If, after the date hereofof the Original Agreement, the Company distributes to all or substantially all holders of its Common Stock any dividends payable exclusively in cash, the Conversion Price shall be adjusted in accordance with the formula: R1 = R × SP-C SP where: R1 = the Conversion Price in effect immediately after the open of business on the Ex-Dividend Date for such distribution; R = the Conversion Price in effect immediately prior to the open of business on the Ex-Dividend Date for such distribution; SP = the average of the Closing Sale Prices of Common Stock over the ten (10) consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the Ex-Dividend Date for such distribution; and C = the amount in cash per share the Company distributes to holders of Common Stock. The adjustment shall become effective immediately after the open of business on the Ex-Dividend Date with respect to the distribution.

Appears in 1 contract

Samples: Securities Purchase Agreement (Prospect Global Resources Inc.)

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