Common use of Basic Triggering Event Adjustments Clause in Contracts

Basic Triggering Event Adjustments. Upon the first occurrence of a Triggering Event (except as otherwise provided in this Agreement), each Right shall be changed so that immediately after the Triggering Event: (1) it shall no longer be exercisable for Preferred Stock but rather shall be exercisable for Common Stock (subject to adjustment as provided in Section 11(c)); (2) the number of shares of Common Stock which may be acquired (upon exercise of each Right and payment of the Exercise Amount) shall be equal to the result obtained by dividing (x) 50 percent of the Current Market Price per share of Common Stock on the date of the occurrence of the Triggering Event into (y) the Exercise Amount in effect immediately prior to the Triggering Event; and (3) the Purchase Price per Common Share purchasable with each Right shall be equal to 50 percent of the Current Market Price per share of Common Stock on the date of the occurrence of the Triggering Event.

Basic Triggering Event Adjustments. Upon the first occurrence of a Triggering Event (except as otherwise provided in this Agreement), each Right shall be changed so that immediately after the Triggering Event: (1) it shall no longer be exercisable for Preferred Stock but rather shall be exercisable for Common Stock (subject to adjustment as provided in Section 11(c)); (2) the number of shares of Common Stock which may be acquired (upon exercise of each Right and payment of the Exercise Amount) shall be equal to the result obtained by dividing (x) 50 percent 50% of the Current Market Price per share of Common Stock on the date of the occurrence of the Triggering Event into (y) the Exercise Amount in effect immediately prior to the Triggering Event; and (3) the Purchase Price per Common Share purchasable with each Right shall be equal to 50 percent 50% of the Current Market Price per share of Common Stock on the date of the occurrence of the Triggering Event.