Common use of No Fractional Common Shares Clause in Contracts

No Fractional Common Shares. The Company will not, under any circumstances, be obligated to issue any fraction of a Common Share on the exercise or deemed exercise of any Warrant. To the extent that these Warrants confer the right to be issued a fraction of a Common Share, such right may be exercised in respect of such fraction only in combination with another Warrant or other Warrants which in the aggregate entitle the holder to be issued a whole number of Common Shares, and no payment or other adjustment will be made in respect of any fractional Common Share so disregarded.

Appears in 3 contracts

Samples: Warrant Agreement (Black Diamond Holdings Corp), Warrant Agreement (Black Diamond Holdings Corp), Warrant Agreement (Black Diamond Brands Corp.)

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No Fractional Common Shares. The Under no circumstances shall the Company will not, under any circumstances, be obligated obliged to issue any fraction of a fractional Common Share on Shares upon the exercise of one or deemed exercise of any Warrantmore Warrants. To the extent that these the holder of one or more Warrants confer would otherwise have been entitled to receive on the right to be issued exercise or partial exercise thereof a fraction of a Common Share, then such holder may exercise that right may be exercised in respect of such the fraction only in combination with another Warrant or other Warrants which that in the aggregate entitle the holder to be issued purchase a whole number of Common Shares. If such right is not so exercised, and the Company shall be under no payment or other adjustment will be made in respect obligation to pay to the Holder any compensation for any such fraction of any fractional a Common Share so disregardedShare.

Appears in 1 contract

Samples: Warrant Indenture (Northern Orion Resources Inc)

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