Common use of Notice of Adjustment Event Clause in Contracts

Notice of Adjustment Event. In the event that (i) the Company shall propose to take any action of the type described in this Article 4 or (ii) the Company fixes any Record Date for any event, the Company shall give notice to each Warrantholder, in the manner set forth in Section 4.9, which notice shall specify the Record Date, if any, with respect to any such action and the approximate date on which such action is to take place. Such notice shall also set forth the facts with respect thereto (including the material terms with respect to any contemplated transaction) and indicate the effect on the Exercise Price and the number, kind or class of shares or other Securities or property which shall be deliverable upon exercise or exchange of a Warrant, if any. Such notice shall be given at least 10 days prior to the taking of such proposed action; provided that notice of any Liquidity Event shall be given at least 21 days prior to the taking of such proposed action. Failure to give such notice, or any defect therein, shall not affect the legality or validity of any such action. Nothing herein shall prohibit the Warrantholders from exercising their Warrants during the 10 day period commencing on the date of such notice (21 days in the case of a Liquidity Event).

Notice of Adjustment Event. In the event that (i) the Company shall propose to take any action of the type described in this Article 4 IV (but only if the action of the type described in this Article IV would result in an adjustment in the Exercise Price or (ii) the Company fixes any Record Date for any eventWarrant Share Number or a change in the type of securities or property to be delivered upon exercise of a Warrant), the Company shall give deliver to the Warrant Agent a notice and shall cause such notice to each Warrantholder, be sent or communicated to the Holders and beneficial holders of Book-Entry Only Warrants in the manner set forth in Section 4.96.03, which notice shall specify the Record Daterecord date, if any, with respect to any such action and the approximate date on which such action is to take place. Such notice shall also set forth the facts with respect thereto (including the material terms with respect as shall be reasonably necessary to any contemplated transaction) and indicate the effect on the Exercise Price and the number, kind or class of shares or other Securities securities or property which shall be deliverable upon exercise or exchange of a Warrant. In the case of any action which would require the fixing of a record date, if any. Such such notice shall be given at least 10 days prior to the taking date so fixed, and in case of all other action, such proposed action; provided that notice of any Liquidity Event shall be given at least 21 15 days prior to the taking of such proposed action. Failure to give such notice, or any defect therein, shall not affect the legality or validity of any such action. Nothing herein shall prohibit the Warrantholders from exercising their Warrants during the 10 day period commencing on the date of such notice (21 days in the case of a Liquidity Event).