Common use of Common Share Reorganization Clause in Contracts

Common Share Reorganization. If the Company shall subdivide its outstanding Common Shares into a greater number of shares, by way of share split, share dividend or otherwise, or consolidate its outstanding Common Shares into a smaller number of shares (any such event being herein called a "Common Share Reorganization"), then (a) the definition of Exercise Price shall be adjusted, effective immediately after the effective date of such Common Share Reorganization, so that each amount contained in the definition of the Exercise Price is equal to such amount multiplied by a fraction, the numerator of which shall be the number of Common Shares outstanding on such effective date before giving effect to such Common Share Reorganization and the denominator of which shall be the number of Common Shares outstanding after giving effect to such Common Shares Reorganization, and (b) the number of Common Shares subject to purchase upon exercise of this Warrant shall be adjusted, effective at such time, to a number determined by multiplying the number of Common Shares subject to purchase immediately before such Common Share Reorganization by a fraction, the numerator of which shall be the number of shares outstanding after giving effect to such Common Share Reorganization and the denominator of which shall be the number of Common Shares outstanding immediately before giving effect to such Common Share Reorganization.

Appears in 3 contracts

Samples: Securities Purchase Agreement (Empire Petroleum Corp), Securities Purchase Agreement (Empire Petroleum Corp), Securities Purchase Agreement (Palweb Corp)

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Common Share Reorganization. If the Company shall subdivide its outstanding shares of Common Shares Stock into a greater number of shares, by way of share split, share dividend or otherwise, shares or consolidate its outstanding shares of Common Shares Stock into a smaller number of shares (any such event being herein called a "Common Share Reorganization"), then (a) the definition of Exercise Price shall be adjusted, effective immediately after the effective record date at which the holders of shares of Common Stock are determined for purposes of such Common Share Reorganization, so that each amount contained in the definition of to a price determined by multiplying the Exercise Price is equal in effect immediately prior to such amount multiplied record date by a fraction, the numerator of which shall be the number of shares of Common Shares Stock outstanding on such effective record date before giving effect to such Common Share Reorganization and the denominator of which shall be the number of shares of Common Shares Stock outstanding after giving effect to such Common Shares Share Reorganization, and (b) the number of shares of Common Shares Stock subject to purchase upon exercise of this Warrant shall be adjusted, effective at such time, to a number determined by multiplying the number of shares of Common Shares Stock subject to purchase immediately before such Common Share Reorganization by a fraction, the numerator of which shall be the number of shares outstanding after giving effect to such Common Share Reorganization and the denominator of which shall be the number of shares of Common Shares Stock outstanding immediately before giving effect to such Common Share Reorganization.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Verso Technologies Inc)

Common Share Reorganization. If the Company shall subdivide its outstanding shares of Common Shares Stock into a greater number of shares, by way of share split, share dividend or otherwise, shares or consolidate its outstanding shares of Common Shares Stock into a smaller number of shares (any such event being herein called a "Common Share Reorganization"), then (a) the definition of Exercise Price shall be adjusted, effective immediately after the effective record date at which the holders of shares of Common Stock are determined for purposes of such Common Share Reorganization, so that each amount contained in the definition of to a price determined by multiplying the Exercise Price is equal in effect immediately prior to such amount multiplied record date by a fraction, the numerator of which shall be the number of shares of Common Shares Stock outstanding on such effective record date before giving effect to such Common Share Reorganization and the denominator of which shall be the number of shares of Common Shares Stock outstanding after giving effect to such Common Shares Share Reorganization, and (b) the number of shares of Common Shares Stock subject to purchase upon exercise of this Warrant shall be adjusted, effective at such time, to a number determined by multiplying the number of shares of Common Shares Stock subject to purchase immediately before such Common Share Reorganization by a fraction, the numerator of which shall be the number of shares outstanding after giving effect to such Common Share Reorganization and the denominator of which shall be the number of Common Shares outstanding immediately before giving effect to such Common Share Reorganization.the

Appears in 1 contract

Samples: Securities Purchase Agreement (Futurelink Corp)

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Common Share Reorganization. If the Company shall subdivide any of its outstanding Common Shares into a greater number of shares, by way of share split, share dividend or otherwise, shares or consolidate any of its outstanding Common Shares into a smaller number of shares (any such event being herein called a "Common Share Reorganization"), then (a) the definition of Exercise Price shall be adjusted, effective immediately after the effective date of such Common Share Reorganization, so that each amount contained in the definition of to a price determined by multiplying the Exercise Price is equal in effect immediately prior to such amount multiplied effective date by a fraction, the numerator of which shall be the number of Common Shares outstanding on such effective date before giving effect to such Common Share Reorganization and the denominator of which shall be the number of Common Shares outstanding after giving effect to such Common Shares Share Reorganization, and (b) the number of shares of Common Shares Stock subject to purchase upon exercise of this Warrant shall be adjusted, effective at such time, to a number determined by multiplying the number of shares of Common Shares Stock subject to purchase immediately before such Common Share Reorganization by a fraction, the numerator of which shall be the number of shares outstanding after giving effect to such Common Share Reorganization and the denominator of which shall be the number of Common Shares outstanding immediately before giving effect to such Common Share Reorganization.

Appears in 1 contract

Samples: Registration Rights Agreement (Family Golf Centers Inc)

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