Adjustment Right. Either party shall have the right at all reasonable times to examine the records of the other to the extent necessary to verify the accuracy of any statement, charge or computation made under or pursuant to any provision of this Contract. The parties agree to cooperate and to negotiate any dispute with transporter(s) on errors in measurement or reporting. Either party may request and will receive payment for any verifiable statement adjustment within two (2) years of any statement.
Adjustment Right. In the event the Company shall not have consummated any Subsequent Subscriptions on or prior to the Closing Date, Purchaser shall purchase the Maximum Shares from the Purchased Shares Fund (as defined below in Section 2.2). In the event the Company has consummated any Subsequent Subscriptions on or prior to the Closing Date, Purchaser shall have the right (the “Adjustment Right”) to elect, in its sole and absolute discretion, to purchase less than the Maximum Shares (the “Adjustment Shares”); provided, however, that in no event shall the Adjustment Shares be greater than the amount of shares of Common Stock determined by dividing the aggregate purchase price paid to the Company in connection with each and every Subsequent Subscription, by the Per Share Price. If Purchaser exercises its Adjustment Right, the Company immediately shall return to Purchaser from the Purchased Shares Fund an amount equal to the amount determined by multiplying the Adjustment Shares by the Per Share Price (the “Adjustment Funds”). Notwithstanding the foregoing, the parties acknowledge and agree that Purchaser may exercise the Adjustment Right at any time after any Subsequent Subscription, including prior to the Closing Date, and that Purchaser has an Adjustment Right with respect to each Subsequent Subscription. If Purchaser exercises its Adjustment Right prior to the Closing Date, the Company shall return the Adjustment Funds relating thereto by wire transfer of immediately available funds to an account designated by Purchaser on the next business day after the Company receives notice of Purchaser’s exercise of its Adjustment Right. By way of example for illustrative purposes only, if the aggregate purchase price for all of the Subsequent Subscriptions closing on or prior to the Closing Date is $300,000, then the Purchaser shall only be obligated to purchase 3,500,000 shares of Common Stock, and the maximum amount of Adjustment Shares shall be 3,000,000 shares of Common Stock. If Purchaser exercises its Adjustment Right (in its sole absolute discretion) with respect to the all of the 3,000,000 Adjustment Shares, then the Adjustment Funds to be returned to Purchaser at the Closing from the Purchased Shares Fund shall be equal to $300,000.
Adjustment Right x. Xxxxxxxx shall have the right (the "Adjustment Right") at any time prior to April 2, 2004 to declare any Business Day to be a "Measurement Date", provided that, subject to Section 5.h. and 5.i., Xxxxxxxx may exercise not more than two Adjustment Rights. To exercise the Adjustment Right, Xxxxxxxx must deliver to SyQuest at its principal office an Adjustment Notice in the form attached hereto (an "Adjustment Notice") duly completed and signed by Xxxxxxxx which declares a Measurement Date (which date shall not
Adjustment Right. Any Adjustment Right may be exercised by delivery of a notice to the Company a certified check payable to the order of the Company in an amount equal to the aggregate par value of the additional Preferred Shares to be issued to such Holder pursuant to its exercise of the Adjustment Right. Upon delivery of such Notice, such payment, the Company shall promptly cause the additional Preferred Shares to be issued and delivered to such Holder or to another person or address specified in writing by such Holder.
Adjustment Right
