Common use of Liquidation and Dissolution Clause in Contracts

Liquidation and Dissolution. In the event the Company shall, at any time prior to the expiration of this Warrant and prior to the exercise thereof, dissolve, liquidate, or wind up its affairs, the Holder shall be entitled, upon the exercise thereof, to receive, in lieu of the shares that he would have been entitled to receive, the same kind and amount of assets as would have been issued, distributed, or paid to him upon any such dissolution, liquidation, or winding up with respect to such shares had he been the holder of record of such shares on the record date for the determination of those entitled to receive any such liquidating distribution. After any such dissolution, liquidation, or winding up that shall result in any cash distribution in excess of the Exercise Price provided for by this Warrant, the Holder may, at his option, exercise the same without making payment of the Exercise Price, and in such case, the Company shall upon the distribution to the Holder consider that the Exercise Price has been paid in full to it and, in making settlement to the Holder, shall deduct from the amount payable to the Holder an amount equal to such Exercise Price.

Liquidation and Dissolution. In the event the Company shall, at any time prior to the expiration of this Warrant and prior to the exercise thereof, dissolve, liquidate, liquidate or wind up its affairs, the Holder shall be entitled, upon the exercise thereof, to receive, in lieu of the shares that which he would have been entitled to receive, the same kind and amount of assets as would have been issued, distributed, distributed or paid to him upon any such dissolution, liquidation, liquidation or winding up with respect to such shares had he been the holder of record of such shares on the record date for the determination of those entitled to receive any such liquidating distribution. After any such dissolution, liquidation, liquidation or winding up that which shall result in any cash distribution in excess of the Exercise Price provided for by this Warrant, the Holder may, at his option, exercise the same without making payment of the Exercise Price, Price and in such case, case the Company company shall upon the distribution to the Holder consider that the Exercise Price has been paid in full to it and, in making settlement to the Holder, shall deduct from the amount payable to the Holder an amount equal to such Exercise Price.