Other Issues. Upon any issuance by the Company of shares of Common Stock on or after the Initial Issue Date (other than issuances of stock requiring adjustments hereunder pursuant to the immediately preceding subsections (a) and (b) of this Section 6) for a consideration lower than the Market Price per share of stock in effect immediately prior to such issuance, the Purchase Price then in effect shall be reduced to equal the following amount: [(D x E) + F] G x ------------- C x E where C equals the number of shares of Common Stock to be outstanding immediately after such additional issuance, D equals the number of shares of Common Stock outstanding immediately prior to the issue of such additional Common Stock, E equals the Market Price per share of stock in effect immediately prior to the issue of such additional Common Stock, F equals the aggregate consideration (before deducting underwriting discounts, commissions, and other expenses) received or to be received by the Company in connection with the issuance of such additional Common Stock, and G equals the Purchase Price which would have been in effect immediately prior to such issuance had all previous adjustments (if any) under this subsection (c) been made pursuant to the foregoing formula. Upon any such reduction in the Purchase Price, the number of Warrant Shares purchasable upon the exercise of this Warrant shall be correspondingly increased. The provisions of this subsection (c) shall not be applicable to any issuance of Common Stock upon actual exercise or actual conversion of any option, warrant, right, or other security convertible into or exercisable for Common Stock if the Purchase Price was fully and properly adjusted pursuant to the immediately following subsection (d) at the time such option, warrant, right, or other security was issued.
Appears in 4 contracts
Samples: Securities Purchase Agreement (Kevco Inc), Securities Purchase Agreement (Kevco Partners Investment Trust), Warrant Agreement (Kevco Inc)
Other Issues. Upon any issuance by the Company of shares of Aggregate Common Stock on or after the Initial Issue Date (other than issuances of stock requiring adjustments hereunder pursuant to the immediately preceding subsections subparagraphs (a) and (b) of this Section 66.3) for a consideration lower than the Market Price per share of stock in effect immediately prior to such issuance, the Purchase Exchange Price then in effect shall be reduced to equal the following amount: [(D x E) + F] G x ------------- C x E where C equals the number of shares of Aggregate Common Stock to be outstanding immediately after such additional issuance, D equals the number of shares of Aggregate Common Stock outstanding immediately prior to the issue of such additional Aggregate Common Stock, E equals the Market Price per share of stock Voting Common Stock in effect immediately prior to the issue of such additional Aggregate Common Stock, F equals the aggregate consideration (before deducting underwriting discounts, commissions, and other expenses) received or to be received by the Company in connection with the issuance of such additional Aggregate Common Stock, and G equals the Purchase Exchange Price which would have been in effect immediately prior to such issuance had all previous adjustments (if any) under this subsection subparagraph (c) been made pursuant to the foregoing formula. Upon any such reduction in the Purchase Exchange Price, the number of Warrant Shares purchasable shares of Series A Voting Preferred Stock and Voting Common Stock issuable upon the exercise exchange of this Warrant Notes shall be correspondingly increased. The provisions of this subsection subparagraph (c) shall not be applicable to any issuance of Aggregate Common Stock upon actual exercise or actual conversion of any option, warrant, right, or other security convertible into or exercisable for Aggregate Common Stock if the Purchase Exchange Price was fully and properly adjusted pursuant to the immediately following subsection subparagraph (d) at the time such option, warrant, right, or other security was issued.
Appears in 3 contracts
Samples: Securities Purchase Agreement (Kevco Inc), Securities Purchase Agreement (Kevco Partners Investment Trust), Securities Purchase Agreement (Kevco Inc)
Other Issues. Upon any issuance by the Company of shares of Common Stock on or after the Initial Issue Date (other than issuances of stock requiring adjustments hereunder pursuant to the immediately preceding subsections (a) and (b) of this Section 6) for a consideration lower than the Market Price per share of stock in effect immediately prior to such issuance, the Purchase Price then in effect shall be reduced to equal the following amount: [(D x E) + F] G x ------------- --------------- C x E where C equals the number of shares of Common Stock to be outstanding immediately after such additional issuance, D equals the number of shares of Common Stock outstanding immediately prior to the issue of such additional Common Stock, E equals the Market Price per share of stock in effect immediately prior to the issue of such additional Common Stock, F equals the aggregate consideration (before deducting underwriting discounts, commissions, and other expenses) received or to be received by the Company in connection with the issuance of such additional Common Stock, and G equals the Purchase Price which would have been in effect immediately prior to such issuance had all previous adjustments (if any) under this subsection (c) been made pursuant to the foregoing formula. Upon any such reduction in the Purchase Price, the number of Warrant Shares purchasable upon the exercise of this Warrant shall be correspondingly increased. The provisions of this subsection (c) shall not be applicable to any issuance of Common Stock upon actual exercise or actual conversion of any option, warrant, right, or other security convertible into or exercisable for Common Stock if the Purchase Price was fully and properly adjusted pursuant to the immediately following subsection (d) at the time such option, warrant, right, or other security was issued.
Appears in 3 contracts
Samples: Warrant Agreement (Kevco Inc), Securities Purchase Agreement (Kevco Partners Investment Trust), Securities Purchase Agreement (Kevco Inc)
Other Issues. Upon any issuance by the Company of shares of Aggregate Common Stock on or after the Initial Issue Date (other than issuances of stock requiring adjustments hereunder pursuant to the immediately preceding subsections subparagraphs (a) and (b) of this Section 66.3) for a consideration lower than the Market Price per share of stock in effect immediately prior to such issuance, the Purchase Exchange Price then in effect shall be reduced to equal the following amount: [(D x E) + F] G x ------------- C x E where C equals the number of shares of Aggregate Common Stock to be outstanding immediately after such additional issuance, D equals the number of shares of Aggregate Common Stock outstanding immediately prior to the issue of such additional Aggregate Common Stock, E equals the Market Price per share of stock Voting Common Stock in effect immediately prior to the issue of such additional Aggregate Common Stock, F equals the aggregate consideration (before deducting underwriting discounts, commissions, and other expenses) received or to be received by the Company in connection with the issuance of such additional Aggregate Common Stock, and G equals the Purchase Exchange Price which would have been in effect immediately prior to such issuance had all previous adjustments (if any) under this subsection subparagraph (c) been made pursuant to the foregoing formula. Upon any such reduction in the Purchase Exchange Price, the number of Warrant Shares purchasable shares of Series B Nonvoting Preferred Stock and Nonvoting Common Stock issuable upon the exercise exchange of this Warrant Notes shall be correspondingly increased. The provisions of this subsection subparagraph (c) shall not be applicable to any issuance of Aggregate Common Stock upon actual exercise or actual conversion of any option, warrant, right, or other security convertible into or exercisable for Aggregate Common Stock if the Purchase Exchange Price was fully and properly adjusted pursuant to the immediately following subsection subparagraph (d) at the time such option, warrant, right, or other security was issued.
Appears in 3 contracts
Samples: Securities Purchase Agreement (Kevco Partners Investment Trust), Securities Purchase Agreement (Kevco Inc), Securities Purchase Agreement (Kevco Inc)
Other Issues. Upon any issuance by the Company of shares of Common Stock on or after the Initial Issue Date (other than issuances of stock requiring adjustments hereunder pursuant to the immediately preceding subsections (a) and (b) of this Section 6) for a consideration lower than the Market Price per share of stock in effect immediately prior to such issuance, the Purchase Price then in effect shall be reduced to equal the following amount: [(D x E) + F] G (F x ------------- G) ----------------- C x E where C equals the number of shares of Common Stock to be outstanding immediately after such additional issuance, D equals the number of shares of Common Stock outstanding immediately prior to the issue of such additional Common Stock, E equals the Market Price per share of stock in effect immediately prior to the issue of such additional Common Stock, F equals the aggregate consideration (before deducting underwriting discounts, commissions, and other expenses) received or to be received by the Company in connection with the issuance of such additional Common Stock, and G equals the Purchase Price which would have been in effect immediately prior to such issuance had all previous adjustments (if any) under this subsection (c) been made pursuant to the foregoing formula. Upon any such reduction in the Purchase Price, the number of Warrant Shares purchasable upon the exercise of this Warrant shall be correspondingly increased. The provisions of this subsection (c) shall not be applicable to any issuance of Common Stock upon actual exercise or actual conversion of any option, warrant, right, or other security convertible into or exercisable for Common Stock if the Purchase Price was fully and properly adjusted pursuant to the immediately following subsection (d) at the time such option, warrant, right, right or other security was issued.
Appears in 1 contract
Samples: Stock Purchase Agreement (Kevco Inc)