Common use of Dividend or Interest Reinvestment Plans or Other Plans Clause in Contracts

Dividend or Interest Reinvestment Plans or Other Plans. Notwithstanding the foregoing provisions, the issuance of any shares of Common Stock pursuant to any plan providing for the reinvestment of dividends or interest payable on securities of the Company and the investment of additional optional amounts in shares of Common Stock under any such plan (a "DRIP"), and the issuance of any shares of Common Stock or options or rights to purchase such shares pursuant to any employee or director benefit plan or program of the Company or pursuant to any option, warrant, right or exercisable, exchangeable or convertible security outstanding as of the date hereof shall not be deemed to constitute an issuance of Common Stock or exercisable, exchangeable or convertible securities by the Company to which any of the adjustment provisions described above applies. There shall also be no adjustment of the Shares Amount in case of the issuance of any stock (or securities convertible into or exchangeable for stock) of the Company except as specifically described in this Article 6. If any action would require adjustment of the Shares Amount pursuant to more than one of the provisions described above, only one adjustment shall be made and such adjustment shall be the amount of adjustment which has the highest absolute value to holders of the Warrants.

Appears in 4 contracts

Samples: Warrant Agreement (Whwel Real Estate Lp), Warrant Agreement (Whwel Real Estate Lp), Warrant Agreement (Wellsford Real Properties Inc)

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Dividend or Interest Reinvestment Plans or Other Plans. Notwithstanding the foregoing provisions, the issuance of any shares of Common Stock pursuant to any plan providing for the reinvestment of dividends or interest payable on securities of the Company and the investment of additional optional amounts in shares of Common Stock under any such plan (i.e., a "DRIP"), and the issuance of any shares of Common Stock or options or rights to purchase such shares pursuant to any employee or director benefit plan or program of the Company or pursuant to any option, warrant, right or exercisable, exchangeable or convertible security outstanding as of the date hereof shall not be deemed to constitute an issuance of Common Stock or exercisable, exchangeable or convertible securities by the Company to which any of the adjustment provisions described above applies. There shall also be In addition, no adjustment of to the Shares Amount or Cash Amount pursuant to this Article V shall be made in case of the issuance respect of any stock (or securities convertible into or exchangeable for stocktransaction expressly permitted by Section 7.02(h)(iii) of the Company except as specifically described in this Article 6Credit Agreement. If any action would require adjustment of the Shares Amount pursuant to more than one of the provisions described above, in this Article V only one adjustment shall be made and such adjustment shall be the amount of adjustment which has the highest absolute value to holders of the Warrants.

Appears in 2 contracts

Samples: Warrant Agreement (Miravant Medical Technologies), Warrant Agreement (Pharmacia & Upjohn Inc)

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