Common use of Distributions, Subdivisions and Combinations Clause in Contracts

Distributions, Subdivisions and Combinations. If, at any time, the Company: (a) takes a record of holders of its Shares for the purpose of entitling them to receive a distribution payable in, or other distribution of, Additional Shares, (b) subdivides its outstanding Shares into a larger number of Shares, or (c) combines its outstanding Shares into a smaller number of Shares, then (i) the number of Shares for which this Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of Shares that a record holder of the same number of Shares for which this Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event, and (ii) the Exercise Price shall be adjusted to equal (A) the then existing Exercise Price multiplied by the number of Shares for which this Warrant is exercisable immediately prior to the adjustment divided by (B) the number of Shares for which this Warrant is exercisable immediately after such adjustment; provided that if any such adjustment would reduce the Exercise Price below the par value of the Shares, the Company will first reduce the par value to below such adjusted Exercise Price.

Appears in 2 contracts

Samples: Warrant Agreement (ABC Funding, Inc), Warrant Agreement (ABC Funding, Inc)

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Distributions, Subdivisions and Combinations. If, at any timetime and from time to time after the Closing Date, the CompanyIssuer: (ai) takes a record of holders of its Shares shares of Common Stock for the purpose of entitling them to receive a distribution payable in, or other distribution of, Additional Shares,shares of Common Stock; (bii) subdivides its outstanding Shares shares of Common Stock into a larger number of Shares, shares of Common Stock; or (ciii) combines its outstanding Shares shares of Common Stock into a smaller number of Shares, then shares of Common Stock; (i) the number of Shares shares of Common Stock for which this each Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of Shares shares of Common Stock that a record holder of the same number of Shares shares of Common Stock for which this each Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event, and (ii) the Exercise Price shall be adjusted to equal (A) the then existing Exercise Price in effect immediately prior to such event multiplied by the number of Shares shares of Common Stock for which this each Warrant is exercisable immediately prior to the adjustment divided by (B) the number of Shares shares of Common Stock for which this each Warrant is exercisable immediately after such adjustment; provided that if any such adjustment would reduce the Exercise Price below the par value of the Shares, the Company will first reduce the par value to below such adjusted Exercise Price.

Appears in 1 contract

Samples: Warrant Agreement (Pedevco Corp)

Distributions, Subdivisions and Combinations. If, at any time, the Company: (a) takes a record of holders of its Shares for the purpose of entitling them to receive a distribution payable in, or other distribution of, Additional Shares, (b) subdivides its outstanding Shares into a larger number of Shares, or (c) combines its outstanding Shares into a smaller number of Shares, then (i) the number of Shares for which this Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of Shares that a record holder of the same number of Shares for which this Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event, and (ii) the Exercise Price shall be adjusted to equal (A) the then existing Exercise Price multiplied by the number of Shares for which this Warrant is exercisable immediately prior to the adjustment divided by (B) the number of Shares for which this Warrant is exercisable immediately after such adjustment; provided that if any such adjustment would reduce the Exercise Price to below the par value of the Shares, the Company will first reduce the par value to below such adjusted Exercise Price.

Appears in 1 contract

Samples: Warrant Agreement (Deep Down, Inc.)

Distributions, Subdivisions and Combinations. If, at any time, the Company: (a) takes a record of holders of its Shares for the purpose of entitling them to receive a distribution payable in, or other distribution of, Additional Shares, (b) subdivides its outstanding Shares into a larger number of Shares, or (c) combines its outstanding Shares into a smaller number of Shares, , (d) then (i) the number of Shares for which this Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of Shares that a record holder of the same number of Shares for which this Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event, and (ii) the Exercise Price shall be adjusted to equal (A) the then existing Exercise Price multiplied by the number of Shares for which this Warrant is exercisable immediately prior to the adjustment divided by (B) the number of Shares for which this Warrant is exercisable immediately after such adjustment; provided that if any such adjustment would reduce the Exercise Price below the par value of the Shares, the Company will first reduce the par value to below such adjusted Exercise Price.

Appears in 1 contract

Samples: Warrant Agreement (Northern Oil & Gas, Inc.)

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Distributions, Subdivisions and Combinations. If, at any time, the Company: (a) takes a record of holders of its Shares for the purpose of entitling them to receive a distribution payable in, or other distribution of, Additional Shares, (b) subdivides its outstanding Shares into a larger number of Shares, or, (cb) combines its outstanding Shares into a smaller number of Shares, or (c) makes a dividend payment or other distribution to the holders of its Shares payable in Additional Shares, then (i) the number of Shares for which this a Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of Shares that a record holder of the same number of Shares for which this a Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event, and (ii) the Exercise Price shall be adjusted to equal (A) the then existing Exercise Price multiplied by the number of Shares for which this a Warrant is exercisable immediately prior to the adjustment divided by (B) the number of Shares for which this a Warrant is exercisable immediately after such adjustment; provided that if any such adjustment would reduce . In computing adjustments under this Section 7.1, fractional interests in Shares shall be taken into account to the Exercise Price below the par value nearest one-hundredth of the Shares, the Company will first reduce the par value to below such adjusted Exercise Pricea Share.

Appears in 1 contract

Samples: Warrant Agreement (CMP Susquehanna Radio Holdings Corp.)

Distributions, Subdivisions and Combinations. If, at any timetime after the date of this Warrant Agreement, the CompanyCMI: (a) takes a record of holders of its Shares for the purpose of entitling them to receive a distribution payable in, or other distribution of, Additional Shares, (b) subdivides its outstanding Shares into a larger number of Shares, or, (cb) combines its outstanding Shares into a smaller number of Shares, or (c) makes a dividend payment or other distribution to the holders of its Shares in respect of the outstanding Shares that is payable in additional Shares, then (i) the number of Shares for which this a Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of Shares that a record holder of the same number of Shares for which this a Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event, and (ii) the Exercise Price shall be adjusted to equal (A) the then existing Exercise Price multiplied by the number of Shares for which this a Warrant is exercisable immediately prior to the adjustment divided by (B) the number of Shares for which this a Warrant is exercisable immediately after such adjustment; provided that if any such adjustment would reduce . In computing adjustments under this Section 7.1, fractional interests in Shares shall be taken into account to the Exercise Price below the par value nearest one-hundredth of the Shares, the Company will first reduce the par value to below such adjusted Exercise Pricea Share.

Appears in 1 contract

Samples: Warrant Agreement (Cumulus Media Inc)

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