Common use of Adjustment of Exercise Price and Number of Shares of Common Stock or Warrants Clause in Contracts

Adjustment of Exercise Price and Number of Shares of Common Stock or Warrants. (a) (1) Subject to the exceptions referred to in Section 9(g) below, in the event the Company shall, at any time or from time to time after the date hereof, sell any shares of Common Stock for a consideration consisting solely of cash in an amount per share less than the Purchase Price, or issue any shares of Common Stock as a stock dividend to the holders of Common Stock, or subdivide or combine the outstanding shares of Common Stock into a greater or lesser number of shares (any such sale, issuance, subdivision or combination being herein called a "Change of Shares"), then, and thereafter upon each further Change of Shares, the Purchase Price in effect immediately prior to such Change of Shares shall be changed to a price (including any applicable fraction of a cent) determined by dividing (i) the sum of (a) the total number of shares of Common Stock outstanding immediately prior to such Change of Shares, multiplied by the Purchase Price in effect immediately prior to such Change of Shares, and (b) the consideration, if any, received by the Company upon such sale, issuance, subdivision or combination by (ii) the total number of shares of Common Stock outstanding immediately after such Change of Shares.

Appears in 2 contracts

Samples: Warrant Agreement (Illuminated Media Inc), Warrant Agreement (Illuminated Media Inc)

AutoNDA by SimpleDocs

Adjustment of Exercise Price and Number of Shares of Common Stock or Warrants. (a) (1) Subject to the exceptions referred to in Section 9(g8(g) below, in the event the Company shall, at any time or from time to time after the date hereof, sell any shares of Common Stock for a consideration consisting solely of cash in an amount per share less than the Purchase Price, Price or issue any shares of Common Stock as a stock dividend to the holders of Common Stock, or subdivide or combine the outstanding shares of Common Stock into a greater or lesser number of shares (any such sale, issuance, subdivision or combination being herein called a "Change of Shares"), then, and thereafter upon each further Change of Shares, the Purchase Price in effect immediately prior to such Change of Shares shall be changed to a price (including any applicable fraction of a cent) determined by dividing (i) the sum of (a) the total number of shares of Common Stock outstanding immediately prior to such Change of Shares, multiplied by the Purchase Price in effect immediately prior to such Change of Shares, and (b) the consideration, if any, received by the Company upon such sale, issuance, subdivision or combination by (ii) the total number of shares of Common Stock outstanding immediately after such Change of Shares.

Appears in 1 contract

Samples: Warrant Agreement (Fiberchem Inc)

AutoNDA by SimpleDocs

Adjustment of Exercise Price and Number of Shares of Common Stock or Warrants. (a) (1) Subject to the exceptions referred to in Section 9(g8(g) below, in the event the Company shall, at any time or from time to time after the date hereof, sell any shares of Common Stock for a consideration consisting solely of cash in an amount per share less than the lesser of the "Market Price" (as defined in this Section 8) or the Purchase Price, Price or issue any shares of Common Stock as a stock dividend to the holders of Common Stock, or subdivide or combine the outstanding shares of Common Stock into a greater or lesser number of shares (any such sale, issuance, subdivision or combination being herein called a "Change of Shares"), then, and thereafter upon each further Change of Shares, the Purchase Price in effect immediately prior to such Change of Shares shall be changed to a price (including any applicable fraction of a cent) determined by dividing (i) the sum of (a) the total number of shares of Common Stock outstanding immediately prior to such Change of Shares, multiplied by the Purchase Price in effect immediately prior to such Change of Shares, and (b) the consideration, if any, received by the Company upon such sale, issuance, subdivision or combination by (ii) the total number of shares of Common Stock outstanding immediately after such Change of Shares.

Appears in 1 contract

Samples: Warrant Agreement (Fiberchem Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.