Common use of Adjustment for Reclassifications Clause in Contracts

Adjustment for Reclassifications. In case at any time, or from time to time, after the Issue Date the holders of the Common Stock of the Company (or any shares of stock or other securities at the time receivable upon the exercise of this Warrant) shall have received, or, on or after the record date fixed for the determination of eligible stockholders, shall have become entitled to receive, without payment therefore, other or additional stock or other securities or property (including cash) by way of stock-split, spinoff, reclassification, combination of shares or similar corporate rearrangement (exclusive of any stock dividend of its or any subsidiary’s capital stock), then and in each such case the Holder(s) of this Warrant, upon the exercise hereof as provided in Section 1, shall be entitled to receive the amount of stock and other securities and property which such Holder(s) would hold on the date of such exercise if on the Issue Date they had been the holder of record of the number of shares of Common Stock of the Company called for on the face of this Warrant and had thereafter, during the period from the Issue Date, to and including the date of such exercise, retained such shares and/or all other or additional stock and other securities and property receivable by them as aforesaid during such period, giving effect to all adjustments called for during such period. In the event of a declaration of a dividend payable in shares of any equity security of a subsidiary of the Company, then the Company may cause to be issued a warrant to purchase shares of the subsidiary (“Springing Warrant”) in an amount equal to such number of shares of the subsidiary’s securities to which the Holders would have been entitled, but conditioned upon the exercise of this Warrant as a prerequisite to receiving the shares issuable pursuant to the Springing Warrant.

Appears in 4 contracts

Samples: Employment Agreement (Super League Gaming, Inc.), Employment Agreement (Super League Gaming, Inc.), Common Stock and Warrant Agreement (Nnrf, Inc.)

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Adjustment for Reclassifications. In case at any time, or from time to time, after the Issue Date the holders of the Common Stock of the Company (or any shares of stock or other securities at the time receivable upon the exercise of this Warrant) shall have received, or, on or after the record date fixed for the determination of eligible stockholders, shall have become entitled to receive, without payment therefore, other or additional stock or other securities or property (including cash) by way of stock-split, spinoff, reclassification, combination of shares or similar corporate rearrangement (exclusive of any stock dividend of its or any subsidiary’s capital stock), then and in each such case the Holder(s) of this Warrant, upon the exercise hereof as provided in Section 12, shall be entitled to receive the amount of stock and other securities and property which such Holder(s) would hold on the date of such exercise if on the Issue Date they had been the holder of record of the number of shares of Common Stock of the Company called for on the face of this Warrant and had thereafter, during the period from the Issue Date, to and including the date of such exercise, retained such shares and/or all other or additional stock and other securities and property receivable by them as aforesaid during such period, giving effect to all adjustments called for during such period. In the event of a declaration of a dividend payable in shares of any equity security of a subsidiary of the Company, then the Company may cause to be issued a warrant to purchase shares of the subsidiary (“Springing Warrant”) in an amount equal to such number of shares of the subsidiary’s securities to which the Holders would have been entitled, but conditioned upon the exercise of this Warrant as a prerequisite to receiving the shares issuable pursuant to the Springing Warrant.

Appears in 1 contract

Samples: License Agreement (Super League Gaming, Inc.)

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Adjustment for Reclassifications. In case at any time, time or from time to time, time after the Issue Date issue date the holders of the Common Stock common stock of the Company (or any shares of stock or other securities at the time receivable upon the exercise of this Warrant) shall have received, or, on or after the record date fixed for the determination of eligible stockholders, shall have become entitled to receive, without payment therefore, other or additional stock or other securities or property (including cash) by way of stock-stock split, spinoffstock dividend, spin-off, reclassification, combination of shares or similar corporate rearrangement (exclusive of any stock dividend of its or any subsidiary’s capital stock)rearrangement, then and in each such case the Holder(s) Holder of this Warrant, upon the exercise hereof as provided in Section 13, shall be entitled to receive the amount of stock and other securities and property which such Holder(s) Holder would hold on the date of such exercise if on the Issue Date they issue date he had been the holder of record of the number of shares of Common Stock common stock of the Company called for on the face of this Warrant and had thereafter, during the period from the Issue Dateissue date, to and including the date of such exercise, retained such shares and/or all other or additional stock and other securities and property receivable by them him as aforesaid during such period, giving effect to all adjustments called for during such period. In the event of a declaration of a dividend payable any such adjustment, the Exercise Price shall be adjusted to equal (A) the Exercise Price in shares of any equity security of a subsidiary of effect multiplied by the Company, then the Company may cause to be issued a warrant to purchase shares of the subsidiary (“Springing Warrant”) in an amount equal to such number of shares of the subsidiary’s securities to common stock into which the Holders would have been entitled, but conditioned upon the exercise of this Warrant as a prerequisite to receiving the shares issuable pursuant is exercisable immediately prior to the Springing Warrantadjustment, divided by (B) the number of shares of common stock into which this Warrant is exercisable immediately after such adjustment.

Appears in 1 contract

Samples: Warrant Agreement (International Medical Staffing)

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