Common use of OTHER IMPAIRMENTS Clause in Contracts

OTHER IMPAIRMENTS. If any event shall occur as to which the provisions of Section 7.1(a)-(c) are not strictly applicable but are covered by the essential intent and principles of such sections, then, in each such case, the Company will appoint the firm of independent certified public accountants of recognized national standing with the largest U.S. revenues for the prior year (but not the Company's regular auditors), which shall give their opinion upon the adjustment, if any, on a basis consistent with the essential intent and principles established in this Section 7.1, necessary to preserve the rights represented by this Warrant. Upon receipt of such opinion, the Company will promptly mail a copy thereof to the holder of this Warrant and shall make the adjustments described therein.

Appears in 3 contracts

Samples: Warrant Agreement (Aequitas Capital Management Inc.), Warrant Agreement (Microfield Graphics Inc /Or), Warrant Agreement (Steelcase Inc)

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OTHER IMPAIRMENTS. If any event shall occur as to which the provisions of Section 7.1(a)-(c7.1(a)-(d) are not strictly applicable but are covered by the essential intent and principles of such sections, then, in each such case, the Company will appoint the firm of independent certified public accountants of recognized national standing with the largest U.S. revenues for the prior year (but not the Company's regular auditors), which shall give their opinion upon the adjustment, if any, on a basis consistent with the essential intent and principles established in this Section 7.1, necessary to preserve the rights represented by this Warrant. Upon receipt of such opinion, the Company will promptly mail a copy thereof to the holder of this Warrant and shall make the adjustments described therein.

Appears in 3 contracts

Samples: Warrant Agreement (Aequitas Capital Management Inc.), Warrant Agreement (Microfield Graphics Inc /Or), Warrant Agreement (Aequitas Capital Management Inc.)

OTHER IMPAIRMENTS. If any event shall occur as to which the provisions of Section 7.1(a)-(c) are not strictly applicable but are covered by the essential intent and principles of such sections, then, in each such case, the Company will appoint the a firm of independent certified public accountants of recognized national standing with the largest U.S. revenues for the prior year (but not the Company's ’s regular auditors), which shall give their opinion upon the adjustment, if any, on a basis consistent with the essential intent and principles established in this Section 7.1, necessary to preserve the rights represented by this Warrant. Upon receipt of such opinion, the Company will promptly mail a copy thereof to the holder of this Warrant and shall make the adjustments described therein.

Appears in 2 contracts

Samples: Warrant Agreement (Microfield Group Inc), Warrant Agreement (Microfield Group Inc)

OTHER IMPAIRMENTS. If any event shall occur as to which the provisions of Section 7.1(a)-(c) are not strictly applicable but are covered by the essential intent and principles of such sections, then, in each such case, the Company will appoint the a firm of independent certified public accountants of recognized national standing with the largest U.S. revenues for the prior year (but not the Company's regular auditors), which shall give their opinion upon the adjustment, if any, on a basis consistent with the essential intent and principles established in this Section 7.1, necessary to preserve the rights represented by this Warrant. Upon receipt of such opinion, the Company will promptly mail a copy thereof to the holder of this Warrant and shall make the adjustments described therein.

Appears in 1 contract

Samples: Warrant Agreement (Microfield Group Inc)

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OTHER IMPAIRMENTS. If any event shall occur as to which the provisions of Section 7.1(a)-(c7.1(a)-(d) are not strictly applicable but are covered by the essential intent and principles of such sections, then, in each such case, the Company will appoint the firm of independent certified public accountants of recognized national standing with the largest U.S. revenues for the prior year (but not the Company's regular auditors), which shall give their its opinion upon the adjustment, if any, on a basis consistent with the essential intent and principles established in this Section 7.1, necessary to preserve the rights represented by this Warrant. Upon receipt of such opinion, the Company will promptly mail a copy thereof to the holder Holder of this Warrant and shall make the adjustments described therein.

Appears in 1 contract

Samples: Warrant Agreement (Aequitas Capital Management Inc.)

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