Common use of Certain Repurchases of Common Stock Clause in Contracts

Certain Repurchases of Common Stock. In case the Company effects a Pro Rata Repurchase of shares of Common Stock, then the Conversion Price shall be reduced to the price determined by multiplying the Conversion Price in effect immediately prior to the effective date of such Pro Rata Repurchase by a fraction of which the numerator shall be (i) the product of (x) the number of shares of Common Stock outstanding immediately prior to such Pro Rata Repurchase and (y) the Closing Price of a share of Common Stock on the trading day immediately preceding the first public announcement by the Company or any of its Affiliates of the intent to effect such Pro Rata Repurchase, minus (ii) the aggregate value of all cash and any other consideration (as determined by the Company in good faith) paid or payable for shares purchased in such Pro Rata Repurchase, and of which the denominator shall be the product of (x) the number of shares of Common Stock outstanding immediately prior to such Pro Rata Repurchase minus the number of shares of Common Stock so repurchased and (y) the Closing Price per share of Common Stock on the trading day immediately preceding the first public announcement by the Company or any of its Affiliates of the intent to effect such Pro Rata Repurchase. The Company shall give each Holder, with a copy to the Trustee and the Conversion Agent (if other than the Trustee), a notice describing any adjustment pursuant to this Section 14.02(j).

Appears in 2 contracts

Samples: Invitae Corp, Invitae Corp

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Certain Repurchases of Common Stock. In case the Company Corporation effects a Pro Rata Repurchase of shares of Common Stock, then the Conversion Price shall be reduced to the price determined by multiplying the Conversion Price in effect immediately prior to the effective date Effective Date of such Pro Rata Repurchase by a fraction of which the numerator shall be (i) the product of (x) the number of shares of Common Stock outstanding immediately prior to before such Pro Rata Repurchase and (y) the Closing Market Price of a share of Common Stock on the trading day Trading Day immediately preceding the first public announcement by the Company Corporation or any of its Affiliates of the intent to effect such Pro Rata Repurchase, minus (ii) the aggregate value purchase price of all cash and any other consideration (as determined by the Company in good faith) paid or payable for shares purchased in such Pro Rata Repurchase, and of which the denominator shall be the product of (xi) the number of shares of Common Stock outstanding immediately prior to such Pro Rata Repurchase minus the number of shares of Common Stock so repurchased and (yii) the Closing Market Price per share of Common Stock on the trading day Trading Day immediately preceding the first public announcement by the Company Corporation or any of its Affiliates of the intent to effect such Pro Rata Repurchase. The Company shall give each HolderFor the avoidance of doubt, with a copy no increase to the Trustee and the Conversion Agent (if other than the Trustee), a notice describing any adjustment Price shall be made pursuant to this Section 14.02(j11(f).

Appears in 2 contracts

Samples: Investment Agreement (Sterling Financial Corp /Wa/), Exchange Agreement (Independent Bank Corp /Mi/)

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Certain Repurchases of Common Stock. In case the Company Corporation effects a Pro Rata Repurchase of shares of Common Stock, then the Conversion Price shall be reduced adjusted to the price determined by multiplying the Conversion Price in effect immediately prior to the effective date of such Pro Rata Repurchase by a fraction of which the numerator shall be (i) the product of (x) the number of shares of Common Stock outstanding immediately prior to before such Pro Rata Repurchase (treating for this purpose as outstanding all shares of Common Stock issuable upon conversion or exercise of all convertible securities of the Corporation) and (y) the Closing Market Price of a share of Common Stock on the trading day Trading Day immediately preceding the first public announcement by the Company Corporation or any of its Affiliates of the intent to effect such Pro Rata Repurchase, minus (ii) the aggregate value purchase price of all cash and any other consideration (as determined by the Company in good faith) paid or payable for shares purchased in such Pro Rata Repurchase, and of which the denominator shall be the product of (xi) the number of shares of Common Stock outstanding immediately prior to such Pro Rata Repurchase (treating for this purpose as outstanding all shares of Common Stock issuable upon conversion or exercise of all convertible securities of the Corporation) minus the number of shares of Common Stock so repurchased and (yii) the Closing Market Price per share of Common Stock on the trading day Trading Day immediately preceding the first public announcement by the Company Corporation or any of its Affiliates of the intent to effect such Pro Rata Repurchase. The Company shall give each Holder, with a copy to the Trustee and the Conversion Agent (if other than the Trustee), a notice describing any adjustment pursuant to this Section 14.02(j).

Appears in 1 contract

Samples: Securities Purchase Agreement (Velocity Financial, Inc.)

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