Adjustment of the Exercise Price. The Exercise Price and, accordingly, the number of Warrant Shares issuable upon exercise of the Warrant, shall be subject to adjustment from time to time upon the happening of certain events as follows:
Adjustment of the Exercise Price. If the Company subdivides its outstanding Shares into a greater number of Shares, the Exercise Price in effect immediately prior to such subdivision shall be proportionately reduced. Conversely, if the Company combines its outstanding Shares into a lesser number of Shares, the Exercise Price in effect immediately prior to such combination shall be proportionately increased. In case of a subdivision or combination, the adjustment of the Exercise Price shall be made as of the event. A distribution of shares of Common Stock, including a distribution of Convertible Securities, to stockholders of the Company on a pro rata basis shall be considered as a subdivision of outstanding Shares for the purposes of this subsection, except that the adjustment will be made as of the record date of such distribution and any such distribution of Convertible Securities shall be deemed to be a distribution of the Shares underlying such Convertible Securities.
Adjustment of the Exercise Price. The Exercise Price and, accordingly, the number of Warrant Shares issuable upon exercise of the Warrant, shall be subject to adjustment from time to time upon the happening of certain events as follows; provided, however, that nothing contained in this Section 6 shall be construed to require such adjustment to the exercise price of this Warrant for the payment of any placement agent, in Capital Stock or otherwise, in consideration of the transactions contemplated by the Agreement:
Adjustment of the Exercise Price. The Exercise Price and, accordingly, the number of Warrant Shares issuable upon exercise of the Warrant, shall be subject to adjustment from time to time upon the happening of certain events as follows:
(a) RECLASSIFICATION, CONSOLIDATION, MERGER, MANDATORY SHARE EXCHANGE, SALE OR TRANSFER.
(i) Upon occurrence of any of the events specified in subsection (a)(ii) below (the "ADJUSTMENT EVENTS") while this Warrant is unexpired and not exercised in full, the Warrant Holder may in its sole discretion require the Company, or any successor or purchasing corporation, as the case may be, without payment of any additional consideration therefor, to execute and deliver to the Warrant Holder a new Warrant providing that the Warrant Holder shall have the right to exercise such new Warrant (upon terms not less favorable to the Warrant Holder than those then applicable to this Warrant) and to receive upon such exercise, in lieu of each share of Common Stock theretofore issuable upon exercise of this Warrant, the kind and amount of shares of stock, other securities, money or property receivable upon such Adjustment Event by the holder of one share of Common Stock issuable upon exercise of this Warrant had this Warrant been exercised immediately prior to such Adjustment Event. Such new Warrant shall provide for adjustments that shall be as nearly equivalent as may be practicable to the adjustments provided for in this Section 6.
(ii) The Adjustment Events shall be (1) any reclassification or change of Common Stock (other than a change in par value or as a result of a subdivision or combination of Common Stock), (2) any consolidation, merger or mandatory share exchange of the Company with or into another corporation (other than a merger or mandatory share exchange with another corporation in which the Company is a continuing corporation and which does not result in any reclassification or change other than a change in par value or as a result of a subdivision or combination of Common Stock), and (3) any sale or transfer to another corporation of all or substantially all of the assets of the Company.
(iii) If the Company shall fail to maintain the listing or quotation of the Common Stock on a Principal Market, the Warrant Holder may in its sole discretion at any time thereafter require any publicly traded Affiliate of the Company, without payment by the Warrant Holder of any additional consideration therefor, to execute and deliver to the Warrant Holder a new Warrant provid...
Adjustment of the Exercise Price. The relevant Exercise Price shall be subject to adjustment from time to time as follows:
a) In case Borrower shall: (A) subdivide its outstanding Common Shares into a greater number of shares; (B) consolidate its outstanding Common Shares into a smaller number of shares; or (C) issue Common Shares to the holders of its outstanding Common Shares by way of stock dividend (other than a stock dividend to the holders of Common Shares who exercise an option to receive in the ordinary course equivalent dividends in Common Shares in lieu of receiving cash dividends), the Exercise Price in effect on the effective date of such subdivision or consolidation or on the record date for such issue of Common Shares by way of a stock dividend, as the case may be, shall, in the case of the events referred to in (A) and (C) above, be decreased in proportion to the total number of outstanding Common Shares resulting from such subdivision or issue, or shall, in the case of the event referred to in (B) above, be increased in proportion to the total number of outstanding Common Shares resulting from such consolidation. Such adjustment shall be made successively whenever any event referred to above shall occur. Any such issue of Common Shares by way of a stock dividend shall be deemed to have been made on or immediately prior to the record date for the stock dividend for the purpose of calculating the number of outstanding Common Shares under subparagraphs (b) and (c) below.
b) In case Borrower shall fix a record date for the issuance of options, rights or warrants to all or substantially all of the holders of its outstanding Common Shares entitling them, for a period expiring not more than 45 days after such record date, to subscribe for or purchase Common Shares (or Securities exercised or exchangeable into Common Shares) at a price per share (or having an exercise or exchange price per share) less than 95% of the Current Price per Common Share, as the case may be, on such record date, the Exercise Price shall be automatically adjusted immediately after such record date so that it shall equal the price determined by multiplying the Exercise Price in effect on such record date by a fraction, of which the numerator shall be the sum of: (A) the total number of outstanding Common Shares on such record date; plus (B) a number of Common Shares determined by dividing the aggregate price of the additional Common Shares, if any, offered for subscription or purchase (or the aggregate exer...
Adjustment of the Exercise Price. The Exercise Price and, accordingly, the number of Funding Guarantor Warrant Shares issuable upon exercise of the Funding Guarantor Warrant, shall be subject to adjustment from time to time upon the happening of certain events as follows:
Adjustment of the Exercise Price. (1)(a) The Exercise Price shall be adjusted in accordance with the following formula if the events set out in 4(2)(a)-(d) below occur after the Warrants are issued: Number Amount Number of of new to be Issued shares X paid per And + to be [new] Pre- outstand- issued share Adjusted adjusted X ing shares --------------------- Exercise = Exercise Current market price Price Price per share ------------------------------------ Number of + Number of new Issued and shares to be Outstanding issued Shares
Adjustment of the Exercise Price. The purchase price of a share under option post-adjustment will be equal to: purchase price of a share under option prior to adjustment For the purposes of the adjustment, the Board of Directors will use: - for the “Amount of the Distribution in Kind per Christian Dior share”, one twenty-third (on the basis of the envisioned ratio) of the opening price of the Hermès share recorded on Euronext Paris on the payment date of the Distribution in Kind, i.e., December 17, 2014; and - for the “Value of the Christian Dior share prior to the Distribution in Kind” the arithmetical average of the volume weighted averages of the Christian Dior share price recorded on Euronext Paris during the three (3) trading days preceding the first day on which the Christian Dior shares are listed ex-Distribution in Kind, i.e., December 17, 2014.
Adjustment of the Exercise Price. In the event that at any time or from time to time after the Original Issue Date the Company shall issue Additional Shares of Common Shares (including, without limitation, Additional Shares of Common Shares deemed to be issued pursuant to Subsection 4(A)(iii), but excluding shares issued upon a stock subdivision or combination as provided in Subsection 4(B)), without consideration or for a consideration per share less than the applicable Exercise Price in effect on the date of and immediately prior to such issue, then and in such event, such Exercise Price shall be reduced concurrently with such issue, to a price (calculated to the nearest cent) determined in accordance with the following formula:
Adjustment of the Exercise Price. The Company shall notify the holders of Warrants, in the same manner as provided in the first paragraph of Section 7.5, of its election to adjust the number of Warrants, indicating the record date for the adjustment, and, if known at the time, the amount of the adjustment to be made. This record date may be the date on which the Exercise Price is adjusted or any day thereafter. Upon each adjustment of the number of Warrants pursuant to this paragraph (g) the Company shall, as promptly as practicable, cause to be distributed to holders of record of Warrants on such record date Warrant Certificates evidencing, subject to paragraph (h), the additional Warrants to which such holders shall be entitled as a result of such adjustment, or, at the option of the Company, shall cause to be distributed to such holders of record in substitution and replacement for the Warrant Certificates held by such holders prior to the date of adjustment, and upon surrender thereof, if required by the Company, new Warrant Certificates evidencing all the Warrants to be issued, executed and registered in the manner specified in Section 1 (and which may bear, at the option of the Company, the adjusted Exercise Price) and shall be registered in the names of the holders of record of Warrant Certificates on the record date specified in the notice.
