Fractional Shares of Common Stock. (a) The Company shall not issue fractions of Warrant Shares. Whenever any fraction of Warrant Shares would otherwise be required to be issued or distributed, (i) a cash adjustment shall be paid in respect of such fraction in an amount equal to such fraction multiplied by the Exercise Price, or (ii) the actual issuance or distribution made shall reflect a rounding of such fraction to the nearest whole share (up or down), with half shares or less being rounded down and fractions in excess of half of a share being rounded up. (b) The Holder of a Warrant by the acceptance of the Warrant expressly waives his right to receive any fractional Warrant Share.
Appears in 11 contracts
Samples: Warrant Agreement (Preferred Apartment Communities Inc), Warrant Agreement (Preferred Apartment Communities Inc), Warrant Agreement (Preferred Apartment Communities Inc)
Fractional Shares of Common Stock. (a) The Company shall not issue fractions of Warrant Shares. Whenever any fraction of Warrant Shares would otherwise be required to be issued or distributed, (i) a cash adjustment shall be paid in respect of such fraction in an amount equal to such fraction multiplied by the Exercise Price, or (ii) the actual issuance or distribution made shall reflect a rounding of such fraction to the nearest whole share (up or down), with half shares or less being rounded down and fractions in excess of half of a share being rounded up.
(b) The Holder of a Warrant Holder, by the acceptance of the Warrant Warrant, expressly waives his right to receive any fractional Warrant Share.
Appears in 3 contracts
Samples: Warrant Agreement (Bluerock Residential Growth REIT, Inc.), Warrant Agreement (Bluerock Residential Growth REIT, Inc.), Warrant Agreement (Bluerock Residential Growth REIT, Inc.)
