Computation of Adjustments. Upon each computation of an adjustment to the Warrant Exercise Price and the number of shares that may be subscribed for and purchased upon exercise of this Warrant, the Warrant Exercise Price shall be computed to the nearest cent (i.e., fractions of 0.5 of a cent or greater, shall be rounded to the next highest cent) and the number of shares that may be subscribed for and purchased upon exercise of this Warrant shall be calculated to the nearest whole share (i.e., fractions of less than one half of a share shall be disregarded and fractions of one half of a share or greater shall be treated as being a whole share). No such adjustment shall be made, however, if the change in the Warrant Exercise Price would be less than $0.01 per share, but any such lesser adjustment shall be made (i) at the time and together with the next subsequent adjustment which, together with any adjustments carried forward, shall amount to $0.01 per share or more, or (ii) if earlier, upon the third anniversary of the event for which such adjustment is required.
Appears in 4 contracts
Samples: Warrant Agreement (Bangor Hydro Electric Co), Warrant Agreement (Bangor Hydro Electric Co), Warrant Agreement (Bangor Hydro Electric Co)
