No Requirement to Issue Fractional Shares. The Corporation shall not be required to issue fractional Common Shares upon the conversion of this Debenture pursuant to this section 1. If any fractional interest in a Common Share would, except for the provisions of this subsection 1.5, be deliverable upon the conversion of any principal amount of this Debenture, the Corporation shall round up such fractional interest to the next highest whole number of Common Shares and deliver to the Holder a whole number of Common Shares.
Appears in 3 contracts
Samples: Debenture Purchase Agreement (Moore Corporation LTD), Debenture Purchase Agreement (Moore Corporation LTD), Debenture Purchase Agreement (Chancery Lane/GSC Investors Lp)
No Requirement to Issue Fractional Shares. The Corporation shall not be required to issue fractional Common Shares upon any Conversion. Where the conversion of this Debenture pursuant to this section 1. If any fractional interest in a Common Share would, except for the provisions of this subsection 1.5, be deliverable upon the conversion of any principal amount of this Debenture, the Corporation shall round up such fractional interest to the next highest whole aggregate number of Common Shares and deliver to be issued would result in a fraction of a Common Share being issuable, the Holder a whole number of Common SharesShares to be issued to the Lender shall be rounded down to the next whole number, and no cash or other consideration shall be paid or payable in lieu of such fraction of a Common Share.
Appears in 2 contracts
Samples: Loan Agreement (Garmatex Holdings Ltd.), Loan Facility Agreement (ALKALINE WATER Co INC)
