Common use of Insufficient Shares Clause in Contracts

Insufficient Shares. The Company may at its option substitute, and, in the event that there shall not be sufficient Common Shares issued but not outstanding or authorized but unissued to permit an exchange of Rights for Common Shares as contemplated in accordance with this Section 27, the Company shall substitute to the extent of such insufficiency, for each Common Share that would otherwise be issuable upon exchange of a Right, a number of Preferred Shares or fraction thereof (or equivalent preferred stock, as such term is defined in Section 11.2) such that the current per share market price (determined pursuant to Section 11.4) of one Preferred Share (or equivalent preferred share) multiplied by such number or fraction is equal to the current per share market price of one Common Share (determined pursuant to Section 11.4) as of the date of such exchange.

Appears in 50 contracts

Samples: Rights Agreement (Ballantyne Strong, Inc.), Rights Agreement (Euronet Worldwide Inc), Rights Agreement (Compass Minerals International Inc)

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Insufficient Shares. The Company may at its option substitute, and, in the event that there shall not be sufficient Common Shares Stock issued but not outstanding or authorized but unissued to permit an exchange of Rights for Common Shares Stock as contemplated in accordance with this Section 27, the Company shall substitute to the extent of such insufficiency, for each share of Common Share Stock that would otherwise be issuable upon exchange of a Right, a number of shares of Preferred Shares Stock or fraction thereof (or equivalent preferred stock, as such term is defined in Section 11.2) such that the current per share market price (determined pursuant to Section 11.4) of one share of Preferred Share Stock (or equivalent preferred sharestock) multiplied by such number or fraction is equal to the current per share market price of one share of Common Share Stock (determined pursuant to Section 11.4) as of the date of such exchange.

Appears in 9 contracts

Samples: Rights Agreement (MRV Communications Inc), Reit Status Protection Rights Agreement (Iron Mountain Inc), Tax Benefit Preservation Plan (Leap Wireless International Inc)

Insufficient Shares. The Company may at its option ------------------- substitute, and, in the event that there shall not be sufficient Common Shares issued but not outstanding or authorized but unissued to permit an exchange of Rights for Common Shares as contemplated in accordance with this Section 27, the Company shall substitute to the extent of such insufficiency, for each Common Share that would otherwise be issuable upon exchange of a Right, a number of Preferred Shares or fraction thereof (or equivalent preferred stock, as such term is defined in Section 11.2) such that the current per share market price (determined pursuant to Section 11.4) of one Preferred Share (or equivalent preferred share) multiplied by such number or fraction is equal to the current per share market price of one Common Share (determined pursuant to Section 11.4) as of the date of such exchange.

Appears in 6 contracts

Samples: Rights Agreement (Southwest Water Co), Rights Agreement (Varco International Inc /De/), Rights Agreement (Varco International Inc /De/)

Insufficient Shares. The Company may at its option substitute, and, in In the event that there shall not be sufficient shares of Common Shares Stock issued but not outstanding or authorized but unissued to permit an exchange of Rights for Common Shares as contemplated in accordance with this Section 2724, the Company shall substitute to the extent of such insufficiency, for each share of Common Share Stock that would otherwise be issuable upon exchange of a Right, a number of shares of Preferred Shares Stock or fraction thereof (or equivalent preferred stock, Equivalent Preferred Stock as such term is defined in Section 11.211(b) hereof) such that the current per share market price (determined pursuant to Section 11.411(d) hereof) of one share of Preferred Share Stock (or equivalent preferred share) multiplied by such number or fraction is equal to the current per share market price of one share of Common Share Stock (determined pursuant to Section 11.411(d)(i) hereof) as of the date of such exchange.

Appears in 4 contracts

Samples: Rights Agreement (Aep Industries Inc), Rights Agreement (Sunshine Heart, Inc.), Rights Agreement (Providence Service Corp)

Insufficient Shares. The Company may at its option substitute, and, in the event that there shall not be sufficient Common Shares issued but not outstanding or authorized but unissued to permit an exchange of Rights for Common Shares as contemplated in accordance with this Section 27, the Company shall substitute to the extent of such insufficiency, for each Common Share Shares that would otherwise be issuable upon exchange of a Right, a number of Preferred Shares or fraction thereof (or equivalent preferred stock, as such term is defined in Section 11.2) 11.2 such that the current per share market price (determined pursuant to Section 11.4) of one Preferred Share (or equivalent preferred share) multiplied by such number or fraction is equal to the current per share market price of one Common Share (determined pursuant to Section 11.4) as of the date of such exchange.

Appears in 4 contracts

Samples: Rights Agreement (Cooper Companies Inc), Rights Agreement (Alarmguard Holdings Inc), Rights Agreement (Parent Holding Corp)

Insufficient Shares. The Company may at its option substitute, and, in the event that there shall not be sufficient Common Shares issued but not outstanding or authorized but unissued to permit an exchange of Rights for Common Shares as contemplated in accordance with this Section 27, the Company shall substitute to the extent of such insufficiency, for each Common Share that would otherwise be issuable upon exchange of a Right, a number of Preferred Shares or fraction thereof (or equivalent preferred stockEquivalent Preferred Stock, as such term is defined in Section 11.2) such that the current per share market price Current Per Share Market Price (determined pursuant to Section 11.4) of one Preferred Share (or equivalent preferred share) multiplied by such number or fraction is equal to the current per share market price Current Per Share Market Price of one Common Share (determined pursuant to Section 11.4) as of the date of such exchange.

Appears in 4 contracts

Samples: Rights Agreement (Cato Corp), Rights Agreement (Biomarin Pharmaceutical Inc), Rights Agreement (Biomarin Pharmaceutical Inc)

Insufficient Shares. The Company may at its option substitute, and, in the event that there shall not be sufficient Common Shares Stock issued but not outstanding or authorized but unissued to permit an exchange of Rights for Common Shares Stock as contemplated in accordance with this Section 27, the Company shall substitute to the extent of such insufficiency, for each share of Common Share Stock that would otherwise be issuable upon exchange of a Right, a number of shares of Preferred Shares Stock or fraction thereof (or equivalent preferred stock, as such term is defined in Section 11.2) such that the current per share market price (determined pursuant to Section 11.4) of one share of Preferred Share Stock (or equivalent preferred share) multiplied by such number or fraction is equal to the current per share market price of one share of Common Share Stock (determined pursuant to Section 11.4) as of the date of such exchange.

Appears in 3 contracts

Samples: Tax Benefit Preservation Plan (Rentech Inc /Co/), Rights Agreement (GeoEye, Inc.), Rights Agreement (Qep Resources, Inc.)

Insufficient Shares. The Company may at its option substitute, ------------------- and, in the event that there shall not be sufficient Common Shares issued but not outstanding or authorized but unissued to permit an exchange of Rights for Common Shares as contemplated in accordance with this Section 27, the Company shall substitute to the extent of such insufficiency, for each Common Share that would otherwise be issuable upon exchange of a Right, a number of Preferred Shares or fraction thereof (or equivalent preferred stock, as such term is defined in Section 11.2) such that the current per share market price (determined pursuant to Section 11.4) of one Preferred Share (or equivalent preferred share) multiplied by such number or fraction is equal to the current per share market price of one Common Share (determined pursuant to Section 11.4) as of the date of such exchange.

Appears in 3 contracts

Samples: Rights Agreement (Assisted Living Concepts Inc), Rights Agreement (Catellus Development Corp), Rights Agreement (Keystone Automotive Industries Inc)

Insufficient Shares. The Company may at its option substitute, and, in the event that there shall not be sufficient Class B Common Shares Stock issued but not outstanding or authorized but unissued to permit an exchange of Rights for Class B Common Shares Stock as contemplated in accordance with this Section 27, the Company shall substitute to the extent of such insufficiency, for each share of Class B Common Share Stock that would otherwise be issuable upon exchange of a Right, a number of Preferred Shares or fraction thereof (or equivalent preferred stock, as such term is defined in Section 11.2) such that the current per share market price (determined pursuant to Section 11.4) of one Preferred Share (or equivalent preferred share) multiplied by such number or fraction is equal to the current per share market price of one share of Class B Common Share Stock (determined pursuant to Section 11.4) as of the date of such exchange.

Appears in 2 contracts

Samples: Rights Agreement (Herbalife International Inc), Rights Agreement (Herbalife International Inc)

Insufficient Shares. The Company may at its option substitute, and, in the event that there shall not be sufficient Common Shares issued but not outstanding or authorized but unissued to permit an exchange of Rights for Common Shares as contemplated in accordance with this Section 27, the Company shall substitute to the extent of such insufficiency, for each Common Share that would otherwise be issuable upon exchange of a Right, a number of Preferred Shares or fraction thereof (or equivalent preferred stockshares, as such term is defined in Section 11.2) such that the current per share market price (determined pursuant to Section 11.4) of one Preferred Share (or equivalent preferred share) multiplied by such number or fraction is equal to the current per share market price of one Common Share (determined pursuant to Section 11.4) as of the date of such exchange.

Appears in 2 contracts

Samples: Rights Agreement (Asyst Technologies Inc), Rights Agreement (Mineral Energy Co)

Insufficient Shares. The Company may at its option substitute, and, in the event that there shall not be sufficient Common Shares issued but not outstanding or authorized but unissued to permit an exchange of Rights for Common Shares as contemplated in accordance with this Section 27, the Company shall substitute to the extent of such insufficiency, for each Common Share that would otherwise be issuable upon exchange of a Right, a number of Preferred Shares or fraction thereof (or equivalent preferred stock, as such term is defined in Section 11.2) such that the current per share market price (determined pursuant to Section 11.4) of one Preferred Share (or equivalent preferred share) multiplied by such number or fraction is equal to the current per share market price of one Common Share (determined pursuant to Section 11.4) as of the date of such exchange.is

Appears in 2 contracts

Samples: Rights Agreement (Cohesion Technologies Inc), Rights Agreement (J2 Communications /Ca/)

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Insufficient Shares. The Company may at its option substitute, and, in the event that there shall not be a sufficient number of Common Shares issued but not outstanding or authorized but unissued to permit an exchange of Rights for Common Shares as contemplated in accordance with this Section 27, the Company shall substitute to the extent of such insufficiency, for each Common Share that would otherwise be issuable upon exchange of a Right, a number of Preferred Shares or fraction thereof (or equivalent preferred stocknumber of Preferred Shares, as such term is defined in Section 11.2) such that the current per share market price (determined pursuant to Section 11.4) of one Preferred Share (or the equivalent preferred sharenumber of Preferred Shares) multiplied by such number or fraction is equal to the current per share market price of one Common Share (determined pursuant to Section 11.4) as of the date of such exchange.

Appears in 2 contracts

Samples: Rights Agreement (Pericom Semiconductor Corp), Rights Agreement (Pericom Semiconductor Corp)

Insufficient Shares. The Company may at its option substitute, and, in the event that there shall not be sufficient Common Shares Stock issued but not outstanding or authorized but unissued to permit an exchange of Rights for Common Shares Stock as contemplated in accordance with this Section 27, the Company shall substitute to the extent of such insufficiency, for each share of Common Share Stock that would otherwise be issuable upon exchange of a Right, a number of shares of Preferred Shares Stock or fraction thereof (or equivalent preferred stock, as such term is defined in Section 11.211(b)) such that the current per share market price (determined pursuant to Section 11.411(d)) of one share of Preferred Share Stock (or equivalent preferred sharestock) multiplied by such number or fraction is equal to the current per share market price of one share of Common Share Stock (determined pursuant to Section 11.411(d)) as of the date of such exchange.

Appears in 1 contract

Samples: Rights Agreement (Exact Sciences Corp)

Insufficient Shares. The Company may at its option substitute, and, in the event that there shall not be sufficient Common Shares issued but not outstanding or authorized but unissued to permit an exchange of Rights for Common Shares as contemplated in accordance with this Section 27, the Company shall substitute to the extent of such insufficiency, for each Common Share that would otherwise be issuable upon exchange of a Right, a number of Preferred Incentive Shares or fraction thereof (or equivalent preferred incentive stock, as such term is defined in Section 11.2) such that the current per share market price (determined pursuant to Section 11.4) of one Preferred Incentive Share (or equivalent preferred incentive share) multiplied by such number or fraction is equal to the current per share market price of one Common Share (determined pursuant to Section 11.4) as of the date of such exchange.

Appears in 1 contract

Samples: Rights Agreement (Mentor Graphics Corp)

Insufficient Shares. The Company may at its option substitute, and, in the event that there shall not be sufficient Class A Common Shares Stock issued but not outstanding or authorized but unissued to permit an exchange of Rights for Class A Common Shares Stock as contemplated in accordance with this Section 27, the Company shall substitute to the extent of such insufficiency, for each share of Class A Common Share Stock that would otherwise be issuable upon exchange of a Right, a number of shares of Preferred Shares Stock or fraction thereof (or equivalent preferred stock, as such term is defined in Section 11.2) such that the current per share market price (determined pursuant to Section 11.4) of one share of Preferred Share Stock (or equivalent preferred sharestock) multiplied by such number or fraction is equal to the current per share market price of one share of Class A Common Share Stock (determined pursuant to Section 11.4) as of the date of such exchange.

Appears in 1 contract

Samples: Tax Benefit Preservation Plan (Access Integrated Technologies, Inc. D/B/a Cinedigm Digital Cinema Corp.)

Insufficient Shares. The Company may at its option substitute, and, in the event that there shall not be sufficient Common Shares issued but not outstanding or authorized but unissued to permit an exchange of Rights for Common Shares as contemplated in accordance with this Section 2726, the Company shall substitute to the extent of such insufficiency, for each Common Share that would otherwise be issuable upon exchange of a Right, a number of Preferred Shares or fraction thereof (or equivalent preferred stock, as such term is defined in Section 11.2) such that the current per share market price (determined pursuant to Section 11.4) of one Preferred Share (or equivalent preferred share) multiplied by such number or fraction is equal to the current per share market price of one Common Share (determined pursuant to Section 11.4) as of the date of such exchange.

Appears in 1 contract

Samples: Stockholder Rights Agreement (Ulta Salon, Cosmetics & Fragrance, Inc.)

Insufficient Shares. The Company may at its option substitute, and, in the event that there shall not be sufficient Class A Common Shares issued but not outstanding or authorized but unissued to permit an exchange of Rights for Class A Common Shares as contemplated in accordance with this Section 27, the Company shall substitute to the extent of such insufficiency, for each Class A Common Share that would otherwise be issuable upon exchange of a Right, a number of Preferred Shares or fraction thereof (or equivalent preferred stock, as such term is defined in Section 11.2) such that the current per share market price (determined pursuant to Section 11.4) of one Preferred Share (or equivalent preferred share) multiplied by such number or fraction is equal to the current per share market price of one Common Share (determined pursuant to Section 11.4) as of the date of such exchange.)

Appears in 1 contract

Samples: Rights Agreement (Avanir Pharmaceuticals)

Insufficient Shares. The Company may at its option substitute, and, in the event that there shall not be sufficient Common Shares Stock issued but not outstanding or authorized but unissued to permit an exchange of Rights for Common Shares Stock as contemplated in accordance with this Section 27, the Company shall substitute to the extent of such insufficiency, for each share of Common Share Stock that would otherwise be issuable upon exchange of a Right, a number of shares of Series A Preferred Shares or fraction thereof (or equivalent preferred stock, as such term is defined in Section 11.2) such that the then-current per share market price (determined pursuant to Section 11.4) of one share of Series A Preferred Share (or equivalent preferred share) multiplied by such number or fraction is equal to the then-current per share market price of one share of Common Share Stock (determined pursuant to Section 11.4) as of the date of such exchange.

Appears in 1 contract

Samples: Tax Benefit Preservation Plan (ModusLink Global Solutions Inc)

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