General Adjustment. If and whenever at any time after the date hereof and prior to the Termination Date, the Company takes any action affecting its Common Shares to which the foregoing provisions of this Section 3, in sole the opinion of the board of directors of the Company, acting reasonably and in good faith, are not strictly applicable, or if strictly applicable would not fairly adjust the rights of the Holder against dilution in accordance with the intent and purposes thereof, or would otherwise materially affect the rights of the Holder hereunder, then the Company may execute and deliver to the Holder an amendment hereto providing for an adjustment in the application of such provisions so as to adjust such rights as aforesaid in such a manner as the board of directors of the Company may solely determine to be equitable in the circumstances, acting reasonably and in good faith. The failure of the taking of action by the board of directors of the Company to so provide for any adjustment on or prior to the effective date of any action or occurrence giving rise to such state of facts will be conclusive evidence that the board of directors has determined that it is equitable to make no adjustment in the circumstances.
Appears in 4 contracts
Samples: Common Share Purchase Warrant (Avalon Rare Metals Inc.), Common Share Purchase Warrant (Avalon Rare Metals Inc.), Common Share Purchase Warrant (Avalon Rare Metals Inc.)
