Change in Par Value Sample Clauses
The Change in Par Value clause defines the process and conditions under which a company may alter the nominal or face value of its shares. Typically, this clause outlines the required approvals, such as a board resolution or shareholder vote, and may specify how the change affects existing shareholdings and company capital structure. Its core practical function is to provide a clear mechanism for adjusting share value, which can be necessary for corporate restructuring, compliance with legal requirements, or facilitating future financing, thereby ensuring transparency and predictability for shareholders and the company.
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Change in Par Value. In the event of a change in the Company’s Shares, which is limited to a change of all of its authorized shares with par value into the same number of shares with a different par value or without par value, the shares resulting from any such change shall be deemed to be shares within the meaning of the Plan.
Change in Par Value. If, at any time, the Company takes any action an effect of which is to change the par value of the Common Stock, then the Exercise Price shall be automatically adjusted at the time of such event to be equal to the new par value of the Common Stock. If, at any time, the Company takes any action an effect of which is to change the par value of the Common Stock to no par value, then the Exercise Price from and after such event shall be no less than the stated value of the Common Stock, if any, after such event and if there is no stated value shall remain unchanged.
Change in Par Value. Section 1.34 of the Second Amended and Restated Deposit Agreement is hereby amended as of the Effective Date by deleting the entire section in its entirety and inserting the following in its stead:
Change in Par Value. The Company hereby agrees that within sixty (60) days to file a proxy or issue an information statement amending the articles of incorporation of the Company to change the par value to .0001 per share.