Common use of Certain Dividends and Distributions Clause in Contracts

Certain Dividends and Distributions. If at any time while any ----------------------------------- Warrants are outstanding and unexpired the Company shall: (i) Pay a dividend payable in its Common Stock, or in rights to acquire (by exercise, conversion or otherwise) its Common Stock, (in each case other than where shares are being issued in lieu of cash), then the number of Warrants shall be adjusted as of the date of such dividend, by multiplying the number of Warrants represented by this Warrant Certificate immediately prior to such date by a fraction (I) the numerator of which shall be the total number of shares of Common Stock outstanding immediately after such dividend and (II) the denominator of which shall be the total number of shares of Common Stock outstanding immediately prior to such dividend; or (ii) Authorize a distribution of its assets to the holders of its Common Stock as a dividend in liquidation or by way of return of capital or other than as a dividend payable out of earnings or surplus legally available for dividends under applicable law, the Company shall give notice thereof to the holder of this Warrant Certificate at least 30 days prior to the record date for determining entitlement to such distribution; and the holder of this Warrant Certificate shall, upon exercise of the Warrants, be entitled to participate in such distribution, without payment of any additional consideration therefor, according to the number of shares of Common Stock held by such holder after the exercise of the Warrants pro rata with all other holders of the Company's Common Stock.

Appears in 3 contracts

Samples: Warrant Agreement (Divicore Inc), Common Stock Purchase Warrant (Divicore Inc), Warrant Agreement (Divicore Inc)

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Certain Dividends and Distributions. If at any time while any ----------------------------------- Warrants are outstanding and unexpired the Company shall: (i) Pay a dividend payable in its Common Stock, or in rights to acquire (by exercise, conversion or otherwise) its Common Stock, (in each case other than where shares are being issued in lieu of cash), then the number of Warrants shall be adjusted as of the date of such dividend, by multiplying the number of Warrants represented by this Warrant Certificate immediately prior to such date by a fraction (I) the numerator of which shall be the total number of shares of Common Stock outstanding immediately after such dividend and (II) the denominator of which shall be the total number of shares of Common Stock outstanding immediately prior to such dividend; or (ii) Authorize a distribution of its assets to the holders of its Common Stock as a dividend in liquidation or by way of return of capital or other than as a dividend payable out of earnings or surplus legally available for dividends under applicable law, the Company shall give notice thereof to the holder of this Warrant Certificate at least 30 days prior to the record date for determining entitlement to such distribution; and the holder of this Warrant Certificate shall, upon exercise of the Warrants, be entitled to participate in such distribution, without payment of any additional consideration therefor, according to the number of shares of Common Stock held by such holder after the exercise of the Warrants pro rata with all other holders of the Company's Common Stock.

Appears in 1 contract

Samples: Warrant Agreement (Divicore Inc)

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Certain Dividends and Distributions. If at any time while any ----------------------------------- Warrants are outstanding and unexpired the Company shall: (i) Pay a dividend payable in its Common StockStock (other than the 1996 Stock Dividend), or in rights to acquire (by exercise, conversion or otherwise) its Common Stock, (in each case other than where shares are being issued in lieu of cash), then the number of Warrants shall be adjusted as of the date of such dividend, by multiplying the number of Warrants represented by this Warrant Certificate immediately prior to such date by a fraction (I) the numerator of which shall be the total number of shares of Common Stock outstanding immediately after such dividend and (II) the denominator of which shall be the total number of shares of Common Stock outstanding immediately prior to such dividend; or (ii) Authorize a distribution of its assets to the holders of its Common Stock as a dividend in liquidation or by way of return of capital or other than as a dividend payable out of earnings or surplus legally available for dividends under applicable law, the Company shall give notice thereof to the holder of this Warrant Certificate at least 30 days prior to the record date for determining entitlement to such distribution; and the holder of this Warrant Certificate shall, upon exercise of the Warrants, be entitled to participate in such distribution, without payment of any additional consideration therefor, according to the number of shares of Common Stock held by such holder after the exercise of the Warrants pro rata with all other holders of the Company's Common Stock.

Appears in 1 contract

Samples: Warrant Agreement (Divicore Inc)

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