Common use of Fractions of Common Shares Clause in Contracts

Fractions of Common Shares. (1) To the extent that the holder of a -------------------------- Warrant is entitled to receive on the exercise or partial exercise thereof a fraction of a Common Share, such right may only be exercised in respect of such fraction in combination with another Warrant or other Warrants which in the aggregate entitle the holder to receive a whole number of Common Shares. No fractional Common Shares will be issued. (2) If a holder is not able to, or elects not to, combine Warrants so as to be entitled to acquire a whole number of Common Shares, the Corporation shall make an appropriate cash adjustment. However, in respect of any holder, the Corporation shall only be required to make such a cash adjustment once and for one Warrant and no more. The amount of the cash adjustment with respect to the Common Share shall be equal to the fraction of the Common Share to which the holder would be entitled multiplied by the Weighted Average Price.

Appears in 2 contracts

Samples: Warrant Indenture (Bid Com International Inc), Warrant Indenture (Bid Com International Inc)

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Fractions of Common Shares. (1) To the extent that the holder of a -------------------------- Warrant is entitled to receive on the exercise or partial exercise thereof a fraction of a Common Share, such right may only be exercised in respect of such fraction in combination with another Warrant or other Warrants which in the aggregate entitle the holder to receive a whole number of Common Shares. No fractional Common Shares will be issued. (2) If a holder is not able to, or elects not to, combine Warrants so as to be entitled to acquire a whole number of Common Shares, the Corporation Sellers shall make an appropriate cash adjustment. However, in respect of any holder, the Corporation Sellers shall only be required to make such a cash adjustment once and for one Warrant and no more. The amount of the cash adjustment with respect to the Common Share shall be equal to the fraction of the Common Share to which the holder would be entitled multiplied by the Weighted Average Price.

Appears in 2 contracts

Samples: Warrant Indenture (Bid Com International Inc), Warrant Indenture (Bid Com International Inc)

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