Common use of ADJUSTMENT OF WARRANT PRICE AND NUMBER OF SHARES PURCHASABLE AND OTHER ITEMS IN CERTAIN EVENTS Clause in Contracts

ADJUSTMENT OF WARRANT PRICE AND NUMBER OF SHARES PURCHASABLE AND OTHER ITEMS IN CERTAIN EVENTS. The Warrant Price and the number of shares of Common Stock purchasable upon exercise of any Warrant and the other terms and conditions of the Warrant shall be subject to adjustment and modification as follows in the circumstances provided: 4.1. The Warrant Price and the resulting number of shares of Common Stock issuable under each Warrant shall be subject to adjustment as follows: (a) If the Company, after the date of this Warrant Agreement but before its exercise: (i) pays a dividend or any other distribution payable in shares of its Common Stock; (ii) subdivides its outstanding shares of Common Stock into a greater number of shares; (iii) combines its outstanding shares of Common Stock into a smaller number of shares; or (iv) issues by reclassification of its shares of Common Stock any shares of capital stock of the Company (other than a change in par value); the Warrant Price in effect and the number of shares purchasable upon the exercise of such Warrant immediately prior to such action shall be adjusted so that the Registered Holder of each Warrant may receive the number of shares of Common Stock of the Company to which it would have been entitled upon such action if such Registered Holder had so exercised the Warrant immediately prior thereto. An adjustment made pursuant to this Section 4 shall become effective immediately after the record date for the determination of owners of Common Stock entitled thereto in the case of a dividend or distribution, and shall become effective immediately after the effective date in the case of a subdivision, combination, reclassification, or issuance of rights, options or warrants retroactive to the record date, if any, for such event. (b) No payment or adjustment shall be made by or on behalf of the Company on account of any cash dividends on the Common Stock issued upon any exercise of a Warrant which was declared for payment to the holders of Common Stock of record as of a date prior to the date on which such Warrant is exercised. (c) Upon each adjustment of the Warrant Price made pursuant to this Section 4, each Warrant shall thereafter (until another such adjustment) evidence the right to purchase that number of shares of Common Stock (calculated to the nearest hundredth) obtained by dividing the initial Warrant Price by the Warrant Price in effect after such adjustment. (d) The Company’s failure to give the notice required by this Section 4 or any defect therein shall not affect the validity of such action listed under this Section 4.1. (e) For the purpose of this Section 4.1, the term “shares of Common Stock” shall mean (i) the class of Common Stock designated as the Common Stock at the date of this Warrant Agreement, or (ii) any other class of Common Stock resulting from successive changes or reclassifications of such shares consisting solely of changes in par value, from no par value to par value or from par value to no par value. In the event that at any time, as a result of an adjustment made pursuant to this Section 4, the Registered Holder shall become entitled to purchase any shares of the Company other than shares of Common Stock, thereafter the number of such other shares so purchasable upon exercise of each Warrant and the Warrant Price of such shares shall be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to the provisions with respect to the shares of Common Stock contained in this Section 4.1.

Appears in 6 contracts

Samples: Warrant Agreement (PCI Media, Inc.), Warrant Agreement (AgEagle Aerial Systems Inc.), Warrant Agreement (RMR Industrials, Inc.)

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ADJUSTMENT OF WARRANT PRICE AND NUMBER OF SHARES PURCHASABLE AND OTHER ITEMS IN CERTAIN EVENTS. The Warrant Price and the number of shares of Common Stock purchasable upon exercise of any Non-Transferable Warrant and the other terms and conditions of the Non-Transferable Warrant shall be subject to adjustment and modification as follows in the circumstances provided: 4.1. The Warrant Purchase Price and the resulting number of shares of Common Stock issuable under each Non-Transferable Warrant shall be subject to adjustment as follows: (a) If the Company, after the date of this Warrant Agreement but before its exercise: (i1) pays a dividend or any other distribution payable in shares of its Common StockStock otherwise than out of earnings or earned surplus; (ii2) subdivides its outstanding shares of Common Stock into a greater number of shares; (iii3) combines its outstanding shares of Common Stock into a smaller number of shares; or; (iv4) issues by reclassification of its shares of Common Stock any shares of capital stock of the Company (other than a change in par value); or (5) issues rights, options or warrants entitling holders of shares of Stock to subscribe for shares of Stock at less than the current market price, if any; the Warrant Price in effect and the number of shares purchasable upon the exercise of such Non-Transferable Warrant immediately prior to such action shall be adjusted so that the Registered Holder of each Non-Transferable Warrant may receive the number of shares of Common Stock of the Company to which it would have been entitled upon such action if such Registered Holder had so exercised the Non-Transferable Warrant immediately prior thereto. An adjustment made pursuant to this Section 4 shall become effective immediately after the record date for the determination of owners of Common Stock entitled thereto in the case of a dividend or distribution, and shall become effective immediately after the effective date in the case of a subdivision, combination, reclassification, or issuance of rights, options or warrants retroactive to the record date, if any, for such event. (b) No payment or adjustment shall be made by or on behalf of the Company on account of any cash dividends on the Common Stock issued upon any exercise of a Non-Transferable Warrant which was declared for payment to the holders of Common Stock of record as of a date prior to the date on which such Non-Transferable Warrant is exercised. (c) Upon each adjustment of the Warrant Price made pursuant to this Section 4, each Non-Transferable Warrant shall thereafter (until another such adjustment) evidence the right to purchase that number of shares of Common Stock (calculated to the nearest hundredth) obtained by dividing the initial Warrant Price by the Warrant Price in effect after such adjustment. (d) The Company’s failure to give the notice required by this Section 4 4.1 or any defect therein shall not affect the validity of such action listed under this Section 4.1. (e) For the purpose of this Section 4.1, the term “shares of Common Stock” shall mean (i1) the class of Common Stock stock designated as the Common Stock at the date of this Warrant Agreement, or (ii2) any other class of Common Stock stock resulting from successive changes or reclassifications of such shares consisting solely of changes in par value, from no par value to par value or from par value to no par value. In the event that at any time, as a result of an adjustment made pursuant to this Section 4, the Registered Holder shall become entitled to purchase any shares of the Company other than shares of Common Stock, thereafter the number of such other shares so purchasable upon exercise of each Non-Transferable Warrant and the Warrant Price of such shares shall be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to the provisions with respect to the shares of Common Stock contained in this Section 4.1.

Appears in 3 contracts

Samples: Warrant Agreement, Warrant Agreement (Camco Financial Corp), Warrant Agreement (Camco Financial Corp)

ADJUSTMENT OF WARRANT PRICE AND NUMBER OF SHARES PURCHASABLE AND OTHER ITEMS IN CERTAIN EVENTS. The Warrant Price and the number of shares of Common Stock purchasable upon exercise of any Warrant and the other terms and conditions of the Warrant shall be subject to adjustment and modification as follows in the circumstances provided: 4.1. The Warrant Purchase Price and the resulting number of shares of Common Stock issuable under each Warrant shall be subject to adjustment as follows: (a) If the Company, after the date of this Warrant Agreement but before its exercise: (i1) pays a dividend or any other distribution payable in shares of its Common StockStock otherwise than out of earnings or earned surplus; (ii2) subdivides its outstanding shares of Common Stock into a greater number of shares; (iii3) combines its outstanding shares of Common Stock into a smaller number of shares; or; (iv4) issues by reclassification of its shares of Common Stock any shares of capital stock of the Company (other than a change in par value); or (5) issues rights, options or warrants entitling holders of shares of Stock to subscribe for shares of Stock at less than the current market price, if any; the Warrant Price in effect and the number of shares purchasable upon the exercise of such Warrant immediately prior to such action shall be adjusted so that the Registered Holder of each Warrant may receive the number of shares of Common Stock of the Company to which it would have been entitled upon such action if such Registered Holder had so exercised the Warrant immediately prior thereto. An adjustment made pursuant to this Section 4 shall become effective immediately after the record date for the determination of owners of Common Stock entitled thereto in the case of a dividend or distribution, and shall become effective immediately after the effective date in the case of a subdivision, combination, reclassification, or issuance of rights, options or warrants retroactive to the record date, if any, for such event. (b) No payment or adjustment shall be made by or on behalf of the Company on account of any cash dividends on the Common Stock issued upon any exercise of a Warrant which was declared for payment to the holders of Common Stock of record as of a date prior to the date on which such Warrant is exercised. (c) Upon each adjustment of the Warrant Price made pursuant to this Section 4, each Warrant shall thereafter (until another such adjustment) evidence the right to purchase that number of shares of Common Stock (calculated to the nearest hundredth) obtained by dividing the initial Warrant Price by the Warrant Price in effect after such adjustment. (d) The Company’s failure to give the notice required by this Section 4 4.1 or any defect therein shall not affect the validity of such action listed under this Section 4.1. (e) For the purpose of this Section 4.1, the term “shares of Common Stock” shall mean (i1) the class of Common Stock stock designated as the Common Stock at the date of this Warrant Agreement, or (ii2) any other class of Common Stock stock resulting from successive changes or reclassifications of such shares consisting solely of changes in par value, from no par value to par value or from par value to no par value. In the event that at any time, as a result of an adjustment made pursuant to this Section 4, the Registered Holder shall become entitled to purchase any shares of the Company other than shares of Common Stock, thereafter the number of such other shares so purchasable upon exercise of each Warrant and the Warrant Price of such shares shall be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to the provisions with respect to the shares of Common Stock contained in this Section 4.1.

Appears in 3 contracts

Samples: Warrant Agreement (Central Federal Corp), Warrant Agreement (Central Federal Corp), Warrant Agreement (Central Federal Corp)

ADJUSTMENT OF WARRANT PRICE AND NUMBER OF SHARES PURCHASABLE AND OTHER ITEMS IN CERTAIN EVENTS. The Warrant Price and the number of shares of Common Class B Stock purchasable upon exercise of any Warrant and the other terms and conditions of the Warrant shall be subject to adjustment and modification as follows in the circumstances provided: 4.1. The Warrant Price and the resulting number Declaration of shares of Common Stock issuable under each Warrant shall be subject to adjustment as follows:Dividend, Splits, Reverse Splits or Reclassification or Reorganization. (a) If In case the Company, after the date of this Warrant Agreement but before its exercise: (i) pays a Company shall declare any dividend or any other distribution payable in shares of its Common Stock; (ii) subdivides upon its outstanding shares of Common Class B Stock payable in Class B Stock or shall subdivide its outstanding shares of Class B Stock into a greater number of shares; (iii) combines its , then the number of shares of Class B Stock which may thereafter be purchased upon the exercise of any Warrant shall be increased in proportion to the increase in the number of shares of Class B Stock outstanding through such dividend or subdivision and the Warrant Price per share shall be decreased in such proportion. In case the Company shall at any time combine the outstanding shares of Common its Class B Stock into a smaller number of shares; or, the number of shares of Class B Stock which may thereafter be purchased upon the exercise of any Warrant shall be decreased in proportion to the decrease in the number of shares of Class B Stock outstanding through such combination and the Warrant Price per share shall be increased in such proportion. The Company shall cause a notice to be mailed to each Holder at least twenty (20) days prior to the applicable record date for the activity covered by this Section 4.1(a). The Company's failure to give the notice required by this Section 4.1(a) or any defect therein shall not affect the validity of the activity covered by this Section 4.1(a). (ivb) issues In case the Company shall at any time (i) distribute any rights, options or warrants to all holders of shares of Class B Stock, (ii) issue other securities to all holders of shares of Class B Stock by reclassification of its shares of Common Stock any shares Class B Stock, or (iii) issue by means of a capital stock reorganization other securities of the Company (other than a change in par value); lieu of the Warrant Price Class B Stock or in effect and addition to the Class B Stock, then the number of shares purchasable upon the exercise of such each Warrant immediately prior to such action thereto shall be adjusted so that the Registered Holder of each Warrant may shall be entitled to receive the kind and number of shares of Common Stock or other securities of the Company to which it the Holder would have owned or have been entitled upon to receive after the happening of the event described above, had such action if such Registered Holder had so Warrant been exercised the Warrant immediately prior to the happening of such event or any record date with respect thereto. The Company shall cause a notice to be mailed to each Holder at least 20 days prior to the applicable record date for the activity covered by this Section 4.1(b). The Company's failure to give the notice required by this Section 4.1(b) or any defect therein shall not affect the validity of the activity covered by this Section 4.1(b). (c) An adjustment made pursuant to this Section 4 shall become effective immediately after the record date for the determination of owners of Common Stock entitled thereto in the case of a dividend or distribution, and 4.1 shall become effective immediately after the effective date in the case of a subdivision, combination, reclassification, or issuance of rights, options or warrants such event retroactive to the record date, if any, for such event. (b) No payment or adjustment shall be made by or on behalf of the Company on account of any cash dividends on the Common Stock issued upon any exercise of a Warrant which was declared for payment to the holders of Common Stock of record as of a date prior to the date on which such Warrant is exercised. (c) Upon each adjustment of the Warrant Price made pursuant to this Section 4, each Warrant shall thereafter (until another such adjustment) evidence the right to purchase that number of shares of Common Stock (calculated to the nearest hundredth) obtained by dividing the initial Warrant Price by the Warrant Price in effect after such adjustment. (d) The Company’s failure to give the notice required by this Section 4 or any defect therein shall not affect the validity of such action listed under this Section 4.1. (e) For the purpose of this Section 4.1, the term "shares of Common Class B Stock" shall mean (ix) the class of Common Stock stock designated as the Common Class B Stock at the date of this Warrant Agreement, or (iiy) any other class of Common Stock stock resulting from successive changes or reclassifications of such shares consisting solely of changes in par value, from no par value to par value or from par value to no par value. In the event that at any time, as a result of an adjustment made pursuant to this Section 44.1, the Registered Holder shall become entitled to purchase any shares of the Company other than shares of Common Class B Stock, thereafter the number of such other shares so purchasable upon exercise of each Warrant and the Warrant Price of such shares shall be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to the provisions with respect to the shares of Common Class B Stock contained in this Section 4.1.

Appears in 1 contract

Samples: Warrant Agreement (Admiralty Bancorp Inc)

ADJUSTMENT OF WARRANT PRICE AND NUMBER OF SHARES PURCHASABLE AND OTHER ITEMS IN CERTAIN EVENTS. The Warrant Price and the number of shares of Common Stock purchasable upon exercise of any Warrant and the other terms and conditions of the Warrant shall be is subject to adjustment and modification as follows in the circumstances provided: 4.1. The Warrant Purchase Price and the resulting number of shares of Common Stock issuable under each Warrant shall be subject to adjustment as follows: (a) If the Company, after the date of this Warrant Agreement but before its exercise: (i1) pays a dividend or any other distribution payable in shares of its Common StockStock otherwise than out of earnings or earned surplus; (ii2) subdivides its outstanding shares of Common Stock into a greater number of shares; (iii3) combines its outstanding shares of Common Stock into a smaller number of shares; or; (iv4) issues by reclassification of its shares of Common Stock any shares of capital stock of the Company (other than a change in par value); or (5) issues rights, options or warrants entitling holders of shares of Stock to subscribe for shares of Stock at less than the current market price, if any; the Warrant Price in effect and the number of shares purchasable upon the exercise of such Warrant immediately prior to such action shall be adjusted so that the Registered Holder Recipient of each Warrant may receive the number of shares of Common Stock of the Company to which it would have been entitled upon such action if such Registered Holder Recipient had so exercised the Warrant immediately prior theretoto (a)(1) – (5) above. An adjustment made pursuant to this Section 4 shall will become effective immediately after the record date for the determination of owners of Common Stock entitled thereto in the case of a dividend or distribution, and shall will become effective immediately after the effective date in the case of a subdivision, combination, reclassification, or issuance of rights, options or warrants retroactive to the record date, if any, for such event. (b) No payment or adjustment shall will be made by or on behalf of the Company on account of any cash dividends on the Common Stock issued upon any exercise of a Warrant which was declared for payment to the holders of Common Stock of record as of a date prior to the date on which such Warrant is exercised. (c) Upon each adjustment of the Warrant Price made pursuant to this Section 4, each Warrant shall thereafter (until another such adjustment) evidence the right to purchase that number of shares of Common Stock (calculated to the nearest hundredth) obtained by dividing the initial Warrant Price by the Warrant Price in effect after such the adjustment. (d) The Company’s failure to give the notice required by this Section 4 4.1 or any defect therein shall in this Section does not affect the validity of such action listed under this Section 4.1. (e) For the purpose of this Section 4.1, the term “shares of Common Stock” shall mean means (i1) the class of Common Stock stock designated as the Common Stock at the date of this Warrant Agreement, or (ii2) any other class of Common Stock stock resulting from successive changes or reclassifications of such shares consisting solely of changes in par value, from no par value to par value or from par value to no par value. In the event that at any time, as a result of an adjustment made pursuant to this Section 4, the Registered Holder shall Recipient will become entitled to purchase any shares of the Company other than shares of Common Stock, thereafter the number of such other shares so purchasable upon exercise of each Warrant and the Warrant Price of such shares shall will be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to the provisions with respect to the shares of Common Stock contained in this Section 4.1.

Appears in 1 contract

Samples: Warrant Agreement (New Peoples Bankshares Inc)

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ADJUSTMENT OF WARRANT PRICE AND NUMBER OF SHARES PURCHASABLE AND OTHER ITEMS IN CERTAIN EVENTS. The Warrant Price and the number of shares of Common Stock purchasable upon exercise of any Warrant and the other terms and conditions of the Warrant shall be subject to adjustment and modification as follows in the circumstances provided: 4.15.1. The Warrant Purchase Price and the resulting number of shares of Common Stock issuable under each Warrant shall be subject to adjustment as follows: (a) If the Company, after the date of this Warrant Agreement but before its exercise: (i1) pays a dividend or any other distribution payable in shares of its Common StockStock otherwise than out of earnings or earned surplus; (ii2) subdivides its outstanding shares of Common Stock into a greater number of shares; (iii3) combines its outstanding shares of Common Stock into a smaller number of shares; or; (iv4) issues by reclassification of its shares of Common Stock any shares of capital stock of the Company (other than a change in par value); or (5) issues rights, options or warrants entitling holders of shares of Stock to subscribe for shares of Stock at less than the current market price, if any; the Warrant Price in effect and the number of shares purchasable upon the exercise of such Warrant immediately prior to such action shall be adjusted so that the Registered Holder of each Warrant may receive the number of shares of Common Stock of the Company to which it would have been entitled upon such action if such Registered Holder had so exercised the Warrant immediately prior thereto. An adjustment made pursuant to this Section 4 shall become effective immediately after the record date for the determination of owners of Common Stock entitled thereto in the case of a dividend or distribution, and shall become effective immediately after the effective date in the case of a subdivision, combination, reclassification, or issuance of rights, options or warrants retroactive to the record date, if any, for such event. (b) No payment or adjustment shall be made by or on behalf of the Company on account of any cash dividends on the Common Stock issued upon any exercise of a Warrant which was declared for payment to the holders of Common Stock of record as of a date prior to the date on which such Warrant is exercised. (c) Upon each adjustment of the Warrant Price made pursuant to this Section 45, each Warrant shall thereafter (until another such adjustment) evidence the right to purchase that number of shares of Common Stock (calculated to the nearest hundredth) obtained by dividing the initial Warrant Price by the Warrant Price in effect after such adjustment. (d) The Company’s failure to give the notice required by this Section 4 5.1 or any defect therein shall not affect the validity of such action listed under this Section 4.15.1. (e) For the purpose of this Section 4.15.1, the term “shares of Common Stock” shall mean (i1) the class of Common Stock stock designated as the Common Stock at the date of this Warrant Agreement, or (ii2) any other class of Common Stock stock resulting from successive changes or reclassifications of such shares consisting solely of changes in par value, from no par value to par value or from par value to no par value. In the event that at any time, as a result of an adjustment made pursuant to this Section 4, the Registered Holder shall become entitled to purchase any shares of the Company other than shares of Common Stock, thereafter the number of such other shares so purchasable upon exercise of each Warrant and the Warrant Price of such shares shall be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to the provisions with respect to the shares of Common Stock contained in this Section 4.15.1.

Appears in 1 contract

Samples: Warrant Agreement (First Capital Bancorp, Inc.)

ADJUSTMENT OF WARRANT PRICE AND NUMBER OF SHARES PURCHASABLE AND OTHER ITEMS IN CERTAIN EVENTS. The Warrant Price and the number of shares of Common Stock purchasable upon exercise of any Warrant and the other terms and conditions of the Warrant shall be subject to adjustment and modification as follows in the circumstances provided: 4.1. The Warrant Price and the resulting number of shares of Common Stock issuable under each Warrant shall be subject to adjustment as follows: (a) If the Company, after the date of this Warrant Agreement but before its exercise: (i1) pays a dividend or any other distribution payable in shares of its Common Stock; (ii2) subdivides its outstanding shares of Common Stock into a greater number of shares; (iii3) combines its outstanding shares of Common Stock into a smaller number of shares; or (iv4) issues by reclassification of its shares of Common Stock any shares of capital stock of the Company (other than a change in par value); the . The Warrant Price in effect and the number of shares purchasable upon the exercise of such Warrant immediately prior to such action shall be adjusted so that the Registered Holder of each Warrant may receive the number of shares of Common Stock of the Company to which it would have been entitled upon such action if such Registered Holder had so exercised the Warrant immediately prior thereto. An adjustment made pursuant to this Section 4 shall become effective immediately after the record date for the determination of owners of Common Stock entitled thereto in the case of a dividend or distribution, and shall become effective immediately after the effective date in the case of a subdivision, combination, reclassification, or issuance of rights, options or warrants retroactive to the record date, if any, for such event. (b) No payment or adjustment shall be made by or on behalf of the Company on account of any cash dividends on the Common Stock issued upon any exercise of a Warrant which was declared for payment to the holders of Common Stock of record as of a date prior to the date on which such Warrant is exercised. (c) Upon each adjustment of the Warrant Price made pursuant to this Section 4, each Warrant shall thereafter (until another such adjustment) evidence the right to purchase that number of shares of Common Stock (calculated to the nearest hundredth) obtained by dividing the initial Warrant Price by the Warrant Price in effect after such adjustment. (d) The Company’s failure to give the notice required by this Section 4 4.1 or any defect therein shall not affect the validity of such action listed under this Section 4.1. (e) For the purpose of this Section 4.1, the term “shares of Common Stock” shall mean (i1) the class of Common Stock stock designated as the Common Stock at the date of this Warrant Agreement, or (ii2) any other class of Common Stock stock resulting from successive changes or reclassifications of such shares consisting solely of changes in par value, from no par value to par value or from par value to no par value. In the event that at any time, as a result of an adjustment made pursuant to this Section 4, the Registered Holder shall become entitled to purchase any shares of the Company other than shares of Common Stock, thereafter the number of such other shares so purchasable upon exercise of each Warrant and the Warrant Price of such shares shall be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to the provisions with respect to the shares of Common Stock contained in this Section 4.1.

Appears in 1 contract

Samples: Warrant Agreement (Carroll Bancorp, Inc.)

ADJUSTMENT OF WARRANT PRICE AND NUMBER OF SHARES PURCHASABLE AND OTHER ITEMS IN CERTAIN EVENTS. The Warrant Price and the number of shares of Common Stock Shares purchasable upon exercise of any Warrant and the other terms and conditions of the Warrant shall be subject to adjustment and modification as follows in the circumstances provided: 4.1. The Warrant Price and the resulting number of shares of Common Stock Shares issuable under each Warrant shall be subject to adjustment as follows: (a) If the Company, after the date of this Warrant Agreement but before its exercise: (i) pays a dividend or any other distribution payable in shares of its Common StockShares; (ii) subdivides its outstanding shares of Common Stock Shares into a greater number of shares; (iii) combines its outstanding shares of Common Stock Shares into a smaller number of shares; or (iv) issues by reclassification of its shares of Common Stock Shares any shares of capital stock of the Company (other than a change in par value); the Warrant Price in effect and the number of shares purchasable upon the exercise of such Warrant immediately prior to such action shall be adjusted so that the Registered Holder of each Warrant may receive the number of shares of Common Stock Shares of the Company to which it would have been entitled upon such action if such Registered Holder had so exercised the Warrant immediately prior thereto. An adjustment made pursuant to this Section 4 shall become effective immediately after the record date for the determination of owners of Common Stock Shares entitled thereto in the case of a dividend or distribution, and shall become effective immediately after the effective date in the case of a subdivision, combination, reclassification, or issuance of rights, options or warrants retroactive to the record date, if any, for such event. (b) No payment or adjustment shall be made by or on behalf of the Company on account of any cash dividends on the Common Stock Shares issued upon any exercise of a Warrant which was declared for payment to the holders of Common Stock Shares of record as of a date prior to the date on which such Warrant is exercised. (c) Upon each adjustment of the Warrant Price made pursuant to this Section 4, each Warrant shall thereafter (until another such adjustment) evidence the right to purchase that number of shares of Common Stock Shares (calculated to the nearest hundredth) obtained by dividing the initial Warrant Price by the Warrant Price in effect after such adjustment. (d) The Company’s failure to give the notice required by this Section 4 or any defect therein shall not affect the validity of such action listed under this Section 4.1. (e) For the purpose of this Section 4.1, the term “shares of Common StockShares” shall mean (i) the class of Common Stock Shares designated as the Common Stock Shares at the date of this Warrant Agreement, or (ii) any other class of Common Stock Shares resulting from successive changes or reclassifications of such shares consisting solely of changes in par value, from no par value to par value or from par value to no par value. In the event that at any time, as a result of an adjustment made pursuant to this Section 4, the Registered Holder shall become entitled to purchase any shares of the Company other than shares of Common StockShares, thereafter the number of such other shares so purchasable upon exercise of each Warrant and the Warrant Price of such shares shall be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to the provisions with respect to the shares of Common Stock Shares contained in this Section 4.1.

Appears in 1 contract

Samples: Warrant Agreement (Frankly Inc)

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