Common use of Certain Adjustment Events Clause in Contracts

Certain Adjustment Events. (i) In case the Company shall hereafter (A) pay a dividend or make a distribution on its capital stock in shares of Common Stock, (B) subdivide its outstanding shares of Common Stock into a greater number of shares, (C) combine its outstanding shares of Common Stock into a smaller number of shares or (D) issue by reclassification of its Common Stock other securities of the Company, the kind and amount of Common Stock and other securities shall be adjusted so that Purchaser upon the exercise of the Purchase Option shall be entitled to receive the number of shares of Common Stock or other securities of the Company that Purchaser would have owned immediately following such action had the Purchase Option been exercised immediately prior thereto.

Appears in 2 contracts

Samples: Stock Purchase and Option Agreement (American Physicians Service Group Inc), Stock Purchase and Option Agreement (Financial Industries Corp)

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Certain Adjustment Events. (ia) In case the Company shall hereafter (Ai) pay a dividend or make a distribution on its capital stock in shares of Common Stock, (Bii) subdivide its outstanding shares of Common Stock into a greater number of shares, (Ciii) combine its outstanding shares of Common Stock into a smaller number of shares or (Div) issue by reclassification of its Common Stock other securities of the Company, the kind and amount of Common Stock and other securities shall be adjusted so that Purchaser upon the exercise of the Purchase Option shall be entitled to receive the number of shares of Common Stock or other securities of the Company that Purchaser would have owned immediately following such action had the Purchase Option been exercised immediately prior thereto.

Appears in 1 contract

Samples: Option Agreement (Financial Industries Corp)

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Certain Adjustment Events. (i) In case the Company shall hereafter (A) pay a dividend or make a distribution on its capital stock in shares of Common Stock, (B) subdivide its outstanding shares of Common Stock into a greater number of shares, (C) combine its outstanding shares of Common Stock into a smaller number of shares or (D) issue by reclassification of its Common Stock other securities of the Company, the kind and amount of Common Stock and other securities shall be adjusted so that Purchaser the Optionee upon the exercise of the Purchase Option shall be entitled to receive the number of shares of Common Stock or other securities of the Company that Purchaser the Optionee would have owned immediately following such action had the Purchase Option been exercised immediately prior thereto.

Appears in 1 contract

Samples: Financial Industries Corporation Stock Option Agreement (Financial Industries Corp)

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