No Adjustment for Certain Transactions. Notwithstanding anything in this Article 4, no adjustment shall be made in the acquisition rights attached to the Warrants if the issue of Common Shares is being made pursuant to this Indenture or in connection with (a) any share incentive plan or restricted share plan or share purchase plan in force from time to time for directors, officers, employees, consultants or other service providers of the Corporation; or (b) the satisfaction of existing instruments issued at the date hereof.
No Adjustment for Certain Transactions. Notwithstanding anything in this Article 4, no adjustment shall be made in the acquisition rights attached to the Warrants if the issue of Subordinate Voting Shares is being made pursuant to this Indenture or in connection with: (a) any share incentive plan or restricted share plan or share purchase plan in force from time to time for directors, officers, employees, consultants or other service providers of the Corporation; (b) the satisfaction of existing instruments issued at the date hereof; or (c) payment of Dividends in the ordinary course.
No Adjustment for Certain Transactions. Notwithstanding anything in this Article 4, no adjustment shall be made in the acquisition rights attached to the Warrants if the issue of Common Shares is being made pursuant to this Indenture or in connection with: (a) any share incentive plan or restricted share plan or share purchase plan in force from time to time for directors, officers, employees, consultants or other service providers of the Company; (b) the satisfaction of existing instruments issued at the date hereof; (c) payment of Dividends in the ordinary course; or (d) the issuance of Common Shares for consideration pursuant to transactions in the ordinary course at a price per Common Share equal to a price no less than the price calculated using the maximum discount then permitted by the CSE.
No Adjustment for Certain Transactions. Notwithstanding the foregoing, no adjustment shall be made to the Option Price or to the number of shares of Common Stock issuable upon exercise of this Option in connection with the following transactions:
(i) the Common Stock Offering, the Series A Preferred Stock Offering, the Exchange Offer or the Rights Offering (as such terms are defined in the Offering Memorandum);
(ii) the issuance of up to 6,710,000 shares of Common Stock pursuant to options granted, expected to be granted or available to be granted to Company employees as described in Footnote 4 on page 44 of the Offering Memorandum; or
(iii) the issuance of up to 3,000,000 shares of Common Stock to the Placement Agent as described in Section 11 of the Preferred Stock Purchase Agreement.
No Adjustment for Certain Transactions. For greater certainty, no adjustment in the Exercise Price shall be made pursuant to Section 4.1 in respect of the issue from time to time:
(a) of Common Shares purchasable on exercise of the Warrants represented by Warrant Certificates as contemplated herein;
(b) of dividends paid in the ordinary course of Common Shares to holders of Common Shares who exercise an option or election to receive substantially equivalent dividends in Common Shares in lieu of receiving a cash dividend pursuant to a dividend reinvestment plan or similar plan adopted by the Company in accordance with the requirements of the stock exchange on which the Common Shares are listed for trading and applicable securities laws; or
(c) of Common Shares pursuant to any stock option, stock option plan, stock purchase plan or benefit plan in force at the date hereof for directors, officers, employees, advisers or consultants of the Company, as such option or plan is amended or superseded from time to time in accordance with the requirements of the stock exchange on which the Common Shares are listed for trading and applicable securities laws, and such other stock option, stock option plan, stock purchase plan or benefit plan as may be adopted by the Company in accordance with the requirements of the stock exchange on which the Common Shares are listed for trading and applicable securities laws;
(d) of Common Shares as payment of interest on any outstanding notes;
(e) of the issuance of securities in connection with strategic license agreements and other partnering arrangements of the Company or any subsidiary thereof; or
(f) of Common Shares as full or partial consideration in connection with a strategic merger, consolidation or purchase of substantially all of the securities or assets of a corporation or other entity; and any such issue shall be deemed not to be a Common Share Reorganization.
No Adjustment for Certain Transactions. Notwithstanding anything in this Article 4, no adjustment shall be made in the acquisition rights attached to the Warrants if the issue of Warrant Shares is being made pursuant to this Indenture or in connection with the issuance of Common Shares pursuant to (a) any share incentive plan, restricted share plan or share purchase plan in force from time to time for directors, officers, employees, consultants or other service providers of the Corporation that has been duly approved by the board of directors and shareholders of the Corporation, as applicable; or (b) the satisfaction of existing instruments issued as at the Effective Date.
No Adjustment for Certain Transactions. For greater certainty, no adjustment in the Exercise Price shall be made pursuant to Section 4.1 in respect of the issue from time to time:
(a) of Common Shares purchasable on exercise of the Warrants represented by Warrant Certificates as contemplated herein;
(b) of dividends paid in the ordinary course of Common Shares to holders of Common Shares who exercise an option or election to receive substantially equivalent dividends in Common Shares in lieu of receiving a cash dividend pursuant to a dividend reinvestment plan or similar plan adopted by the Company in accordance with the requirements of the stock exchange on which the Common Shares are listed for trading and applicable securities laws; or
(c) of Common Shares pursuant to any stock option, stock option plan, stock purchase plan or benefit plan in force at the date hereof for directors, officers, employees, advisers or consultants of the Company, as such option or plan is amended or superseded from time to time in accordance with the requirements of the stock exchange on which the Common Shares are listed for trading and applicable securities laws, and such other stock option, stock option plan, stock purchase plan or benefit plan as may be adopted by the Company in accordance with the requirements of the stock exchange on which the Common Shares are listed for trading and applicable securities laws;
(d) of Common Shares as payment of interest on any outstanding notes; or
(e) of the issuance of securities in connection with strategic license agreements and other partnering arrangements of the Company or any subsidiary thereof; and any such issue shall be deemed not to be a Common Share Reorganization.
No Adjustment for Certain Transactions. 16 4.6 Notice of Adjustment of Exercise Price and Subscription Rights............17 4.7
No Adjustment for Certain Transactions. Anything in this Article 4 to the contrary notwithstanding, no adjustment shall be made in the acquisition rights attached to the Warrants if the issue of Common Shares is being made pursuant to:
(a) any stock option or stock purchase plan in force from time to time for officers or employees of the Corporation;
(b) a public offering to arm's length persons pursuant to a prospectus; or
(c) a private placement to arm's length persons, including without limiting the foregoing, a private placement in exchange for oil and natural gas assets.
No Adjustment for Certain Transactions. Notwithstanding anything in this Article 4, no adjustment shall be made in the acquisition rights attached to the Warrants if the issue of Common Shares is being made on exercise of any Warrants pursuant to this Indenture or in connection with: (a) any stock option or stock purchase plan in force from time to time for directors, officers, employees, consultants or other service providers of the Corporation; (b) the satisfaction of existing instruments issued at the date hereof including any convertible promissory notes; (c) the conversion into Common Shares of any debentures of the Corporation issued pursuant to the trust indenture dated October 19, 2006 between the Corporation and the Trustee; or (d) any further issuances of Common Shares or other issuances of securities of the Corporation.
