Common use of Issuance of Warrants or Other Rights Clause in Contracts

Issuance of Warrants or Other Rights. In case at any time or from time to time the Company shall take a record of the holders of its Common Stock for the purpose of entitling them to receive a distribution of, or shall otherwise issue, any warrants or other rights to subscribe for or purchase any Additional Shares of Common Stock or any Convertible Securities and the consideration per share for which additional shares of Common Stock may at any time thereafter be issuable pursuant to such warrants or other rights or pursuant to the terms of such Convertible Securities shall be less than the Current Market Value, then the number of shares of Common Stock thereafter comprising a Stock Unit shall be adjusted as provided in Section 4.4 hereof on the basis that (i) the maximum number of Additional Shares of Common Stock issuable pursuant to all such warrants or other rights or necessary to effect the conversion or exchange of all such Convertible Securities shall be deemed to have been issued as of (and, accordingly, the date as of which the Exercise Price shall be computed shall be) the computation date specified in the last sentence of this Section 4.5, and (ii) the aggregate consideration for such maximum number of Additional Shares of Common Stock shall be deemed to be the minimum consideration received and receivable by the Company for the issuance of such Additional Shares of Common Stock pursuant to such warrants or other rights or pursuant to the terms of such Convertible Securities. For purposes of this Section 4.5, the computation date for clause (i) above shall be the earliest of (A) the date on which the Company shall take a record of the holders of its Common Stock for the purpose of entitling them to receive any such warrants or other rights, (B) the date on which the Company shall enter into a firm contract for the issuance of such warrants or other rights, and (C) the date of actual issuance of such warrants or other rights.

Appears in 4 contracts

Samples: Warrant Agreement (Innovative Micro Technology Inc), Warrant Agreement (Innovative Micro Technology Inc), Stock Purchase Agreement (L 3 Communications Corp)

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Issuance of Warrants or Other Rights. In case If at any time or from time to time the Company shall take fix a record of date for the holders of its Common Stock Shares for the purpose of entitling them to receive a distribution of, or shall otherwise issuein any manner (whether directly or by assumption in a merger in which the Company is the surviving corporation) issue or sell, any warrants or other rights to subscribe for or purchase any Additional Common Shares of Common Stock or any Convertible Securities Securities, whether or not the rights to exchange or convert thereunder are immediately exercisable, and the consideration per share received by the Company for which additional shares any Additional Common Shares issuable upon the exercise of Common Stock may at any time thereafter be issuable pursuant to such warrants or other rights or pursuant to the terms upon conversion or exchange of such Convertible Securities shall be less than the Current Market ValuePrice as of the day of such distribution, issuance or sale, then the Current Warrant Price and the number of shares Common Shares issuable upon exercise of Common Stock thereafter comprising a Stock Unit this Warrant shall be adjusted as provided in Section 4.4 5(c) hereof on the basis that (i) the maximum number of Additional Common Shares of Common Stock issuable pursuant to all such warrants or other rights or necessary to effect the conversion or exchange of all such Convertible Securities shall be deemed to have been issued as of (and, accordingly, the date as of which the Exercise Price shall be computed shall be) the computation date specified in the last sentence of this Section 4.5, and outstanding and (ii) the aggregate consideration Company shall have received all of the consideration, if any, payable for such maximum warrants or other rights as of the date of the actual issuance thereof. No further adjustments of the Current Warrant Price or the number of Additional Shares shares issuable upon exercise of Common Stock this Warrant shall be deemed to be made upon the minimum consideration received and receivable by the Company for the actual issuance of such Additional Common Shares or of Common Stock pursuant to such Convertible Securities upon exercise of such warrants or other rights or pursuant to upon the terms actual issuance of such Common Shares upon such conversion or exchange of such Convertible Securities. For purposes of this Section 4.5, the computation date for clause (i) above shall be the earliest of (A) the date on which the Company shall take a record of the holders of its Common Stock for the purpose of entitling them to receive any such warrants or other rights, (B) the date on which the Company shall enter into a firm contract for the issuance of such warrants or other rights, and (C) the date of actual issuance of such warrants or other rights.

Appears in 2 contracts

Samples: Common Stock Purchase Warrant (Idt Venture Capital Corp), Common Stock Purchase Warrant (Document Security Systems Inc)

Issuance of Warrants or Other Rights. In case at any time or from time to time the Company shall take a record of the holders of its Common Stock for the purpose of entitling them to receive a distribution of, or shall otherwise issue, issue any warrants or other rights to subscribe for or purchase (i) any Additional Shares of Common Nonpreferred Stock or (ii) any Convertible Securities and the consideration per share for which additional shares Additional Shares of Common Nonpreferred Stock may at any time thereafter be issuable pursuant to such warrants or other rights or pursuant to the terms of such Convertible Securities shall be less than the Current Market ValuePrice per share of Common Stock, then the number of shares of Common Stock thereafter comprising a Stock Unit Share shall be adjusted (as at the applicable date specified in the last sentence of this Section 4.C) as provided in Section 4.4 hereof 4.B on the basis that (i) the maximum number of Additional Shares of Common Nonpreferred Stock issuable pursuant to all such warrants or other rights or necessary to effect the conversion or exchange of all such Convertible Securities shall be deemed to have been issued as of (and, accordingly, the date for the determination of the Current Market Price per share of Common Stock as of which the Exercise Price shall be computed shall be) the computation date specified in the last sentence of this Section 4.5hereinafter provided, and (ii) the aggregate consideration for such maximum number of Additional Shares of Common Nonpreferred Stock shall be deemed to be the minimum consideration received and receivable by the Company for the issuance of such Additional Shares of Common Nonpreferred Stock pursuant to such warrants or other rights or pursuant to the terms of such Convertible Securities. For purposes of this Section 4.54.C, the computation date for clause (i) above as of which the Current Market Price per share of Common Stock shall be computed shall be the earliest earlier of (A) the date on which the Company shall take a record of the holders of its Common Stock for the purpose of entitling them to receive any such warrants or other rights, (Ba) the date on which the Company shall enter into a firm contract for the issuance of such warrants or other rights, and rights or (Cb) the date of actual issuance of such warrants or other rights.

Appears in 2 contracts

Samples: Autobond Acceptance Corp, Autobond Acceptance Corp

Issuance of Warrants or Other Rights. In case If at any time or from time to time the Company shall take a record of the holders of its Common Stock Units for the purpose of entitling them to receive a any distribution of, or shall otherwise issue, any warrants or other rights to subscribe for for, or purchase any Additional Shares of additional Common Stock Units or any Convertible Securities convertible securities convertible into additional Common Units, and the consideration per share unit for which additional shares of Common Stock Units may at any time thereafter be issuable pursuant to all such warrants or and other rights or pursuant to the terms of such Convertible Securities shall be convertible securities, as the case may be, is less per unit than the Current Fair Market ValueValue Per Unit in effect immediately prior to issuance of such additional Common Units, then the number of shares Warrant Units issuable upon exercise of Common Stock thereafter comprising a Stock Unit Warrant shall be adjusted as provided in Section 4.4 hereof SECTION 3(d), on the basis that (i) the maximum number of Additional Shares of additional Common Stock Units issuable pursuant to all such warrants or other rights or necessary to effect the upon conversion or exchange of all such Convertible Securities convertible securities shall be deemed to have been issued as of (and, accordingly, the date for determination of the Fair Market Value Per Unit as of which the Exercise Price shall be computed shall be) the computation date specified in the last sentence of this Section 4.5hereinbelow provided, and (ii) the aggregate consideration for such maximum number of Additional Shares of additional Common Stock Units shall be deemed to be the minimum consideration received and receivable by the Company for the issuance of such Additional Shares of Common Stock pursuant to such warrants or other rights rights, or pursuant to the terms upon conversion of such Convertible Securitiesconvertible securities, as the case may be. For The date as of which Fair Marker Value Per Unit shall be determined for purposes of this Section 4.5, the computation date for clause (iSECTION 3(e) above shall be the earliest of (A) the date on which the Company shall take a record of the holders of its Common Stock for the purpose of entitling them to receive any such warrants or other rightsUnits, (B) the date on which the Company shall enter enters into a firm contract for the issuance of such warrants warrants, rights or other rightsconvertible securities, and (C) the date of actual issuance of such warrants or other rightsthereof.

Appears in 1 contract

Samples: Warrant and Registration Rights Agreement (Cornerstone Propane Partners Lp)

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Issuance of Warrants or Other Rights. In case If at any time or from time to time the Company shall take a record of the holders of its Common Stock for the purpose of entitling them to receive a distribution of, or shall otherwise issuein any manner (whether directly or by assumption in a merger in which the Company is the surviving corporation) issue or sell, any warrants or other rights to subscribe for or purchase any Additional Shares of Common Stock or any Convertible Securities Securities, whether or not the rights to exchange or convert thereunder are immediately exercisable, and the consideration price per share for which additional shares of Common Stock may at any time thereafter be is issuable pursuant to upon the exercise of such warrants or other rights or pursuant to the terms upon conversion or exchange of such Convertible Securities together with any amount paid in consideration for such warrants or rights (calculated on a per share basis) shall be less than the Current Warrant Price or the Current Market ValuePrice in effect immediately prior to the time of such issue or sale, then the number of shares of Common Stock thereafter comprising a Stock Unit for which this Warrant is exercisable and the Current Warrant Price shall be adjusted as provided in Section 4.4 hereof 4.3 on the basis that (i) the maximum number of Additional Shares of Common Stock issuable pursuant to all such warrants or other rights or necessary to effect the conversion or exchange of all such Convertible Securities shall be deemed to have been issued as of (and, accordingly, and outstanding and the date as of which the Exercise Price shall be computed shall be) the computation date specified in the last sentence of this Section 4.5, and (ii) the aggregate consideration for such maximum number of Additional Shares of Common Stock Company shall be deemed to be have received all of the minimum consideration received and receivable by the Company for the issuance payable therefor, if any, as of such Additional Shares of Common Stock pursuant to such warrants or other rights or pursuant to the terms of such Convertible Securities. For purposes of this Section 4.5, the computation date for clause (i) above shall be the earliest of (A) the date on which the Company shall take a record of the holders of its Common Stock for the purpose of entitling them to receive any such warrants or other rights, (B) the date on which the Company shall enter into a firm contract for the issuance of such warrants or other rights, and (C) . No further adjustments of the date Current Warrant Price shall be made upon the actual issue of actual issuance such Common Stock or of such Convertible Securities upon exercise of such warrants or other rightsrights or upon the actual issue of such Common Stock upon such conversion or exchange of such Convertible Securities.

Appears in 1 contract

Samples: Calton Inc

Issuance of Warrants or Other Rights. In case If at any time or from time to time the Company Corporation shall take a record of the holders of its Common Stock Shares for the purpose of entitling them to receive a distribution of, or shall otherwise issuein any manner (whether directly or by assumption in a merger in which the Corporation is the surviving corporation) issue or sell, any warrants or other rights to subscribe for or purchase any Additional Common Shares of Common Stock or any Convertible Securities Securities, whether or not the rights to exchange or convert thereunder are immediately exercisable, and the consideration price per share for which additional shares a Common Share is issuable upon the exercise of Common Stock may at any time thereafter be issuable pursuant to such warrants or other rights or pursuant to the terms upon conversion or exchange of such Convertible Securities shall be less than either the Purchase Price or the Current Market ValuePrice on the date of such issue or sale, then the number of shares Common Shares which will be issued upon conversion of Common Stock thereafter comprising a Stock Unit the Series A Preferred Shares shall be adjusted as provided in Section 4.4 hereof Subsection (c)(iii)(A) on the basis that (i) the maximum number of Additional Common Shares of Common Stock issuable pursuant to all such warrants or other rights or necessary to effect the conversion or exchange of all such Convertible Securities shall be deemed to have been issued as of (and, accordingly, and outstanding and the date as of which the Exercise Price shall be computed shall be) the computation date specified in the last sentence of this Section 4.5, and (ii) the aggregate consideration for such maximum number of Additional Shares of Common Stock Corporation shall be deemed to be have received all of the minimum consideration received and receivable by the Company for the issuance payable therefor, if any, as of such Additional Shares of Common Stock pursuant to such warrants or other rights or pursuant to the terms of such Convertible Securities. For purposes of this Section 4.5, the computation date for clause (i) above shall be the earliest of (A) the date on which the Company shall take a record of the holders of its Common Stock for the purpose of entitling them to receive any such warrants or other rights, (B) the date on which the Company shall enter into a firm contract for the issuance of such warrants or other rights, and (C) . No further adjustments to the date number of Common Shares which will be issued upon conversion of the Series A Preferred Shares shall be made upon the actual issuance issue of such Common Shares or of Convertible Securities upon exercise of warrants or other rightsrights contemplated by this Subsection (c)(iv) or upon the actual issue of Common Shares upon conversion or exchange of Convertible Securities contemplated by this Subsection (c)(iv).

Appears in 1 contract

Samples: Stock Purchase Agreement (Advanced Lighting Technologies Inc)

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