Common use of Liquidating Dividends Clause in Contracts

Liquidating Dividends. If the Company pays a dividend or makes a distribution on the Common Stock payable otherwise than in cash out of earnings or earned surplus (determined in accordance with generally accepted accounting principles) except for a stock dividend payable in shares of Common Stock (a "Liquidating Dividend"), then the Company will pay or distribute to the Holder of this Warrant, upon the exercise hereof, in addition to the Warrant Shares purchased upon such exercise, the Liquidating Dividend which would have been paid to such Holder if he had been the owner of record of such Warrant Shares immediately prior to the date on which a record is taken for such Liquidating Dividend or, if no record is taken, the date as of which the record holders of Common Stock entitled to such dividends or distribution are to be determined.

Liquidating Dividends. If the Company pays a dividend or makes a distribution on the Common Stock (other than one payable otherwise than in (i) cash out of earnings or earned surplus (determined in accordance with generally accepted accounting principles) except for a stock dividend payable in or (ii) shares of Common Stock Stock) (a "Liquidating Dividend"), then the Company will pay or distribute to the Registered Holder of this Warrant, upon the exercise hereof, in addition to the Warrant Shares purchased upon such exercise, the Liquidating Dividend which would have been paid to such Registered Holder if he had been the owner of record of such Warrant Shares immediately prior to the date on which a record is taken for such Liquidating Dividend or, if no record is taken, the date as of which the record holders of Common Stock entitled to such dividends or distribution are to be determined.

Liquidating Dividends. If the Company pays a dividend or makes a distribution on the Common Capital Stock payable otherwise than in cash out of earnings or earned surplus (determined in accordance with generally accepted accounting principles) except for a stock dividend payable in shares of Common Capital Stock (a "Liquidating Dividend"), then the Company will pay or distribute to the Registered Holder of this Warrant, upon the exercise hereof, in addition to the Warrant Shares purchased upon such exercise, the Liquidating Dividend which would have been paid to such Registered Holder if he had been the owner of record of such Warrant Shares immediately prior to the date on which a record is taken for such Liquidating Dividend or, if no record is taken, the date as of which the record holders of Common Capital Stock entitled to such dividends or distribution are to be determined.

Liquidating Dividends. If the Company pays a dividend or makes a distribution on the Common Stock Shares payable otherwise than in cash out of earnings or earned surplus (determined in accordance with generally accepted accounting principles) except for a stock dividend payable in shares of Common Stock Shares (a "“Liquidating Dividend"”), then the Company will pay or distribute to the Registered Holder of this Warrant, upon the exercise or conversion hereof, in addition to the Warrant Shares purchased upon such exerciseexercise or conversion, the Liquidating Dividend which would have been paid to such Registered Holder if he it had been the owner of record of such Warrant Shares immediately prior to the date on which a record is taken for such Liquidating Dividend or, if no record is taken, the date as of which the record holders of Common Stock Shares entitled to such dividends or distribution are to be determined.

Liquidating Dividends. If the Company pays declares a dividend or makes a distribution on upon --------------------- the Common Stock payable otherwise than in cash out of earnings or earned surplus (determined in accordance with generally accepted accounting principles, consistently applied) except for a stock dividend payable in shares of Common Stock (a "Liquidating Dividend"), then the Company will shall pay or distribute to the Holder holders of this Warrant, upon the exercise hereofNotes at the time of payment thereof, in addition to the Warrant Shares purchased upon such exerciseprincipal amount and any accrued interest hereon, the Liquidating Dividend which would have been paid to such Holder if he the holder of this Note on the Conversion Stock had this Note been the owner of record of such Warrant Shares fully converted immediately prior to the date on which a record is taken for such Liquidating Dividend Dividend, or, if no record is taken, the date as of which the record holders of Common Stock entitled to such dividends or distribution are to be determined.

Liquidating Dividends. If the Company pays a dividend or makes a distribution on the Common Stock payable otherwise than in cash out of earnings or earned surplus (determined in accordance with generally accepted accounting principles, consistently applied) except for a stock dividend payable in shares of Common Stock (a "Liquidating Dividend"), then the Company will pay or distribute to the Holder holder of this Warrant, upon the exercise hereof, in addition to the Warrant Shares Common Stock purchased upon such exercise, the Liquidating Dividend which would have been paid to such Holder holder if he it had been the owner of record of such Warrant Shares shares of Common Stock immediately prior to the date on which a record is taken for such Liquidating Dividend or, if no record is taken, the date as of which the record holders of Common Stock entitled to such dividends or distribution are to be determined.

Liquidating Dividends. If the Company pays declares a dividend or makes a distribution on upon the --------------------- Common Stock payable otherwise than in cash out of earnings or earned surplus (determined in accordance with generally accepted accounting principles, consistently applied) except for a stock dividend payable in shares of Common Stock (a "Liquidating Dividend"), then the Company will shall pay or distribute to the Holder holders of this Warrant, upon the exercise hereofNotes at the time of payment thereof, in addition to the Warrant Shares purchased upon such exerciseprincipal amount and any accrued interest hereon, the Liquidating Dividend which would have been paid to such Holder if he the holder of this Note on the Conversion Stock had this Note been the owner of record of such Warrant Shares fully converted immediately prior to the date on which a record is taken for such Liquidating Dividend Dividend, or, if no record is taken, the date as of which the record holders of Common Stock entitled to such dividends or distribution are to be determined.

Liquidating Dividends. If the Company pays a dividend or makes a distribution on the Common Stock Stock, payable otherwise than in cash out of earnings or earned surplus (determined in accordance with generally accepted accounting principles) ), except for a stock dividend payable in shares of Common Stock (a "Liquidating Dividend"), then the Company will pay or distribute to the Registered Holder of this Warrant, upon the exercise hereof, in addition to the Warrant Shares purchased upon such exercise, the Liquidating Dividend which would have been paid to such Registered Holder if he had been the owner of record of such Warrant Shares immediately prior to the date on which a record is taken for such Liquidating Dividend or, if no record is taken, the date as of which the record holders of Common Stock entitled to such dividends or distribution are to be determined.

Liquidating Dividends. If the Company pays a dividend or makes a distribution on the Common Stock payable otherwise than in cash out of earnings or earned surplus (determined in accordance with generally accepted accounting principles) except for a stock dividend payable in shares of Common Stock (a "“Liquidating Dividend"”), then the Company will pay or distribute to the Registered Holder of this Warrant, upon the exercise hereof, in addition to the Warrant Shares Stock purchased upon such exercise, the Liquidating Dividend which would have been paid to such Registered Holder if he had been the owner of record of such shares of Warrant Shares Stock immediately prior to the date on which a record is was taken for such Liquidating Dividend or, if no record is was taken, the date as of which the record holders of Common Stock entitled to such dividends or distribution are to be were determined.

Liquidating Dividends. If the Company pays a dividend or makes a --------------------- distribution on the Common Stock payable otherwise than in cash out of earnings or earned surplus (determined in accordance with generally accepted accounting principles) except for a stock dividend payable in shares of Common Stock (a "Liquidating Dividend"), then the Company will pay or distribute to the Holder of this Warrant, upon the exercise hereof, in addition to the Warrant Shares purchased upon such exercise, the Liquidating Dividend which would have been paid to such Holder if he had been the owner of record of such Warrant Shares immediately prior to the date on which a record is taken for such Liquidating Dividend or, if no record is taken, the date as of which the record holders of Common Stock entitled to such dividends or distribution are to be determined.

Liquidating Dividends. If the Company pays a dividend or makes a distribution on the Common Stock payable otherwise than in cash out of earnings or earned surplus (determined in accordance with generally accepted accounting principles) except for a stock dividend payable in shares of Common Stock (a "“Liquidating Dividend"”), then the Company will pay or distribute to the Registered Holder of this Warrant, upon the exercise hereof, in addition to the Warrant Shares purchased upon such exercise, the Liquidating Dividend which would have been paid to such Registered Holder if he had been the owner of record of such Warrant Shares immediately prior to the date on which a record is taken for such Liquidating Dividend or, if no record is taken, the date as of which the record holders of Common Stock entitled to such dividends or distribution are to be determined.

Liquidating Dividends. If the Company pays a dividend or makes a distribution on the Common Stock payable otherwise than then in cash out of earnings or earned surplus (determined in accordance with generally accepted accounting principles) except for a stock dividend payable in shares of Common Stock (a "Liquidating Dividend"), then the Company will pay or distribute to the Registered Holder of this Warrant, upon the exercise hereof, in addition to the Warrant Shares purchased upon such exercise, the Liquidating Dividend which would have been paid to such Registered Holder if he had been the owner of record of such Warrant Shares immediately prior to the date on which a record is taken for such Liquidating Dividend or, if no record is taken, the date as of which the record holders of Common Stock entitled to such dividends or distribution are to be determined.

Liquidating Dividends. If the Company pays a dividend or makes a distribution on the Common Stock payable otherwise than in cash out of earnings or earned surplus (determined in accordance with generally accepted accounting principles) except for a stock dividend payable in shares of Common Stock (a "Liquidating Dividend"), then the Company will pay or distribute to the Holder of this Warrant, upon the exercise hereof, in addition to the Warrant Shares Common Stock purchased upon such exercise, the Liquidating Dividend which would have been paid to such Holder if he it had been the owner of record of such Warrant Shares shares of Common Stock immediately prior to the date on which a record is taken for such Liquidating Dividend or, if no record is taken, the date as of which the record holders of Common Stock entitled to such dividends or distribution are to be determined.