Common use of Reclassification, Reorganization, Consolidation or Merger Clause in Contracts

Reclassification, Reorganization, Consolidation or Merger. In the event of any reclassification, capital reorganization or other change of outstanding shares of Common Stock of the Company (other than a subdivision or combination of the outstanding Common Stock, a change in the par value of the Common Stock or a transaction subject to Section 7) or in the event of any consolidation or merger of the Company with or into another corporation (other than a merger in which merger the Company is the continuing corporation and that does not result in any reclassification, capital reorganization or other change of outstanding shares of Common Stock of the class issuable upon exercise of this Warrant) or in the event of any sale, lease, transfer or conveyance to another corporation of the property and assets of the Company as an entirety or substantially as an entirety, the Company shall, as a condition precedent to such transaction, cause effective provisions to be made so that such other corporation shall assume all of the obligations of the Company hereunder and the Holder shall have the right thereafter, by exercising this Warrant, to purchase the kind and amount of shares of stock and other securities and property (including cash) receivable upon such reclassification, capital reorganization and other change, consolidation, merger, sale, lease, transfer or conveyance by a holder of the number of shares of Common Stock that would have been received upon exercise of this Warrant immediately prior to such reclassification, capital reorganization, change, consolidation, merger, sale, lease or conveyance. Any such provision shall include provision for adjustments in respect of such shares of stock and other securities and property that shall be as nearly equivalent as may be practicable to the adjustments provided for in this Warrant. The foregoing provisions of this Section 8 shall similarly apply to successive reclassification, capital reorganizations and changes of shares of Common Stock and to successive changes, consolidations, mergers, sales, leases, transfers or conveyances. In the event that in connection with any such capital reorganization, or reclassification, consolidation, merger, sale, lease, transfer or conveyance, additional shares of Common Stock shall be issued in exchange, conversion, substitution or payment, as a whole or in part, for, or of, a security of the Company other than Common Stock, any such issue shall be treated as an issue of Common Stock covered by the provisions of Section 7.

Appears in 6 contracts

Samples: Warrant Agreement (Birks & Mayors Inc.), Warrant Agreement (Birks & Mayors Inc.), Warrant Agreement (Birks & Mayors Inc.)

AutoNDA by SimpleDocs

Reclassification, Reorganization, Consolidation or Merger. In the event of any reclassification, capital reorganization or other change of outstanding shares of Common Stock of the Company (other than a subdivision or combination of the outstanding Common Stock, a change in the par value of the Common Stock or a transaction subject to Section 7) or in the event of any consolidation or merger of the Company with or into another corporation (other than a merger in which merger the Company is the continuing corporation and that does not result in any reclassification, capital reorganization or other change of outstanding shares of Common Stock of the class issuable upon exercise of this Warrant) or in the event of any sale, lease, transfer or conveyance to another corporation of the property and assets of the Company as an entirety or substantially as an entirety, the Company shall, as a condition precedent to such transaction, cause effective provisions to be made so that such other corporation shall assume all of the obligations of the Company hereunder and the Holder shall have the right thereafter, by exercising this Warrant, to purchase the kind and amount of shares of stock and other securities and property (including cash) receivable upon such reclassification, capital reorganization and other change, consolidation, merger, sale, lease, transfer or conveyance by a holder of the number of shares of Common Stock that would might have been received upon exercise of this Warrant immediately prior to such reclassification, capital reorganization, change, consolidation, merger, sale, lease or conveyance. Any such provision shall include provision for adjustments in respect of such shares of stock and other securities and property that shall be as nearly equivalent as may be practicable to the adjustments provided for in this Warrant. The foregoing provisions of this Section 8 shall similarly apply to successive reclassification, capital reorganizations and changes of shares of Common Stock and to successive changes, consolidations, mergers, sales, leases, transfers or conveyances. In the event that in connection with any such capital reorganization, or reclassification, consolidation, merger, sale, lease, transfer or conveyance, additional shares of Common Stock shall be issued in exchange, conversion, substitution or payment, as a whole or in part, for, or of, a security of the Company other than Common Stock, any such issue shall be treated as an issue of Common Stock covered by the provisions of Section 75.

Appears in 4 contracts

Samples: Purchasers' Warrant (Eautoclaims Com Inc), Warrant Agreement (United States Antimony Corp), Agreement (United States Antimony Corp)

Reclassification, Reorganization, Consolidation or Merger. In At any time after June 8, 2000 and until this Warrant is exercised or redeemed or expires by its terms, if there is any reclassification of the event of any reclassification, capital reorganization or other change of outstanding shares of Common Stock of the Company (other than a change in par value or a subdivision or combination of the outstanding Common Stockas provided for in subsection 2(a) above), a change in the par value of the Common Stock or a transaction subject to Section 7) or in the event of any reorganization, consolidation or merger of the Company with or into another corporation entity (other than a merger in or reorganization with respect to which merger the Company is the continuing corporation and that does not result in any reclassification, capital reorganization or other change of outstanding shares of Common Stock reclassification of the class issuable upon exercise Common Stock), or a transfer of this Warrant) all or in the event of any sale, lease, transfer or conveyance to another corporation substantially all of the property and assets of the Company as an entirety Company, or substantially as an entiretythe payment of a liquidating distribution, the Company shallthen, as a condition precedent to part of any such transactionreorganization, cause effective provisions to reclassification, consolidation, merger, sale or liquidating distribution, lawful provision shall be made so that such other corporation shall assume all the Registered Holder of the obligations of the Company hereunder and the Holder this Warrant shall have the right thereafterthereafter to receive upon the exercise hereof (to the extent, by exercising this Warrantif any, to purchase still exercisable) the kind and amount of shares of stock and or other securities and or property (including cash) receivable upon that such Registered Holder would have been entitled to receive if, immediately prior to any such reorganization, reclassification, capital reorganization and other change, consolidation, merger, salesale or liquidating distribution, leaseas the case may be, transfer or conveyance by a holder of such Registered Holder had held the number of shares of Common Stock that would have been received were then purchasable upon the exercise of this Warrant immediately prior to Warrant, provided, that, in the case of any such reclassificationliquidating distribution, capital reorganization, change, consolidation, merger, sale, lease or conveyance. Any such provision shall include provision for adjustments in respect the value of such property (as reasonably determined by the Company's Board of Directors) exceeds the Exercise Price. In any such case, appropriate adjustment (as reasonably determined by the Board of Directors of the Company) shall be made in the application of the provisions set forth herein with respect to the rights and interests thereafter of the Registered Holder of this Warrant such that the provisions set forth in this Section 2 (including provisions with respect to the Exercise Price) shall thereafter be applicable, as nearly as is reasonably practicable, in relation to any shares of stock and or other securities and or property that shall be as nearly equivalent as may be practicable to thereafter deliverable upon the adjustments provided for in exercise of this Warrant. The foregoing provisions of this Section 8 shall similarly apply to successive reclassification, capital reorganizations and changes of shares of Common Stock and to successive changes, consolidations, mergers, sales, leases, transfers or conveyances. In the event that in connection with any such capital reorganization, or reclassification, consolidation, merger, sale, lease, transfer or conveyance, additional shares of Common Stock shall be issued in exchange, conversion, substitution or payment, as a whole or in part, for, or of, a security of the Company other than Common Stock, any such issue shall be treated as an issue of Common Stock covered by the provisions of Section 7.

Appears in 2 contracts

Samples: Warrant Agreement (Tii Industries Inc), Warrant Agreement (Tii Industries Inc)

Reclassification, Reorganization, Consolidation or Merger. In the event case of any reclassification, capital reorganization or other change of outstanding shares of Common Stock of the Company Reorganization Transaction (other than a subdivision or combination of the outstanding Common Stock, a change in the par value of the Common Stock or a transaction subject to Section 7) or in the event of any consolidation or merger of the Company with or into another corporation (other than a merger in which merger the Company is the continuing corporation and that does not result in any reclassification, capital reorganization or other change of outstanding shares of Common Stock of the class issuable upon exercise of this Warrant) or in the event of any sale, lease, transfer or conveyance to another corporation of the property and assets of the Company as an entirety or substantially as an entiretyhereinafter defined), the Company shall, as a condition precedent to such transaction, cause effective provisions to be made so that such other corporation shall assume all of the obligations of the Company hereunder and the Holder shall have the right thereafter, by exercising this Warrant, to purchase the kind and amount of shares of stock and other securities and property (including cash) receivable upon such reclassification, capital reorganization and other change, consolidation, merger, sale, lease, transfer or conveyance Reorganization Transaction by a holder of the number of shares of Common Stock that would might have been received upon exercise of this Warrant immediately prior to such reclassification, capital reorganization, change, consolidation, merger, sale, lease or conveyanceReorganization Transaction. Any such provision shall include provision for adjustments in respect of such shares of stock and other securities and property that shall be as nearly equivalent as may be practicable to the adjustments provided for in this Warrant. The foregoing provisions of this Section 8 9 shall similarly apply to successive Reorganization Transactions. For purposes of this Section 9, "Reorganization Transaction" shall mean (excluding any transaction covered by Section 7) any reclassification, capital reorganizations and changes reorganization or other change of outstanding shares of Common Stock of the Company (other than a subdivision or combination of the outstanding Common Stock and to successive changes, consolidations, mergers, sales, leases, transfers other than a change in the par value of the Common Stock) or conveyances. In any consolidation or merger of the event Company with or into another corporation (other than a merger in which the Company is the continuing corporation and that does not result in connection with any such capital reorganization, or reclassification, consolidation, merger, sale, lease, transfer capital reorganization or conveyance, additional other change of outstanding shares of Common Stock shall be issued in exchangeissuable upon exercise of this Warrant) or any sale, conversion, substitution lease transfer or payment, as a whole or in part, for, or of, a security conveyance to another corporation of the property and assets of the Company other than Common Stock, any such issue shall be treated as an issue of Common Stock covered by the provisions of Section 7entirety.

Appears in 2 contracts

Samples: Warrant Agreement (RSL Communications PLC), Warrant Agreement (RSL Communications LTD)

Reclassification, Reorganization, Consolidation or Merger. In the event of any reclassification, capital reorganization or other change of outstanding shares of Common Stock of the Company (other than a subdivision or combination of the outstanding Common Stock, a change in the par value of the Common Stock or a transaction subject to Section 7) or in the event of any consolidation or merger of the Company with or into another corporation (other than a merger in which merger the Company is the continuing corporation and that does not result in any reclassification, capital reorganization or other change of outstanding shares of Common Stock of the class issuable upon exercise of this Warrant) or in the event of any sale, lease, transfer or conveyance to another corporation of the property and assets of the Company as an entirety or substantially as an entirety, the Company shall, as a condition precedent to such transaction, cause effective provisions to be made so that such other corporation shall assume all of the obligations of the Company hereunder and the Holder shall have the right thereafter, by exercising this Warrant, to purchase the kind and amount of shares of stock and other securities and property (including cash) receivable upon such reclassification, capital reorganization and other change, consolidation, merger, sale, lease, transfer or conveyance by a holder of the number of shares of Common Stock that would might have been received upon exercise of this Warrant immediately prior to such reclassification, capital reorganization, change, consolidation, merger, sale, lease or conveyance. Any such provision shall include provision for adjustments in respect of such shares of stock and other securities and property that shall be as nearly equivalent as may be practicable to the adjustments provided for in this Warrant. The foregoing provisions of this Section 8 6 shall similarly apply to successive reclassification, capital reorganizations and changes of shares of Common Stock and to successive changes, consolidations, mergers, sales, leases, transfers or conveyances. In the event that in connection with any such capital reorganization, or reclassification, consolidation, merger, sale, lease, transfer or conveyance, additional shares of Common Stock shall be issued in exchange, conversion, substitution or payment, as a whole or in part, for, or of, a security of the Company other than Common Stock, any such issue shall be treated as an issue of Common Stock covered by the provisions of Section 75.

Appears in 1 contract

Samples: Warrant Agreement (United States Antimony Corp)

Reclassification, Reorganization, Consolidation or Merger. In the event --------------------------------------------------------- case of any reclassification, capital reorganization or other change of outstanding shares of Common Stock of the Company (other than a subdivision or combination of the outstanding Common Stock, Stock and other than a change in the par value of the Common Stock or a transaction subject to Section 7Stock) or in the event case of any consolidation or merger of the Company with or into another corporation (other than a merger with a subsidiary in which merger the Company is the continuing corporation and that does not result in any reclassification, capital reorganization or other change of outstanding shares of Common Stock of the class issuable upon exercise of this Warrant) or in the event case of any sale, lease, transfer or conveyance to another corporation of the property and assets of the Company as an entirety or substantially as an entirety, the Company shall, as a condition precedent to such transaction, cause effective provisions to be made so that such other corporation shall assume all of the obligations of the Company hereunder and the Holder shall have the right thereafter, by exercising this Warrant, to purchase receive in lieu of the receipt of shares of Common Stock the kind and amount of shares of stock and other securities and property (including cash) receivable upon such reclassification, capital reorganization and other change, consolidation, merger, sale, lease, transfer sale or conveyance by a holder of the number of shares of Common Stock that would have been received upon exercise of this Warrant immediately prior to such reclassification, capital reorganization, change, consolidation, merger, sale, lease sale or conveyance. Any such provision shall include provision for adjustments in respect of such shares of stock and other securities and property that shall be as nearly equivalent as may be practicable to the adjustments provided for in this Warrant. The foregoing provisions of this Section 8 7 shall similarly apply to successive reclassification--------- reclassifications, capital reorganizations and changes of shares of Common Stock and to successive changes, consolidations, mergers, sales, leases, transfers sales or conveyances. In the event that in connection with any such capital reorganization, reorganization or reclassification, consolidation, merger, sale, lease, transfer sale or conveyance, additional shares of Common Stock shall be issued in exchange, conversion, substitution or payment, as a in whole or in part, for, or of, a security of the Company other than Common Stock, any such issue shall be treated as an issue of Common Stock covered by the provisions of paragraph (d) of Section 7.4. ---------

Appears in 1 contract

Samples: Warrant Agreement (Template Software Inc)

Reclassification, Reorganization, Consolidation or Merger. In the ----------------------------------------------------------- event of any reclassification, capital reorganization or other change of outstanding shares of Common Stock of the Company (other than a subdivision or combination of the outstanding Common Stock, Stock and other than a change in the par value of the Common Stock or a transaction subject to Section 7Stock) or in the event of any consolidation or merger of the Company with or into another corporation (other than a merger in which merger the Company is the continuing corporation and that does not result in any reclassification, capital reorganization or other change of outstanding shares of Common Stock of the class issuable upon exercise or exchange of this Warrant) or in the event of any sale, lease, transfer or conveyance to another corporation of the property and assets of the Company as an entirety or substantially as an entirety, the Company shall, as a condition precedent to such transaction, cause effective provisions to be made so that such other corporation shall assume all of the obligations of the Company hereunder and the Holder shall have the right thereafter, by exercising this Warrant, to purchase the kind and amount of shares of stock and other securities and property (including cash) receivable upon such reclassification, capital reorganization and other change, consolidation, merger, sale, lease, transfer sale or conveyance by a holder of the number of shares of Common Stock that would might have been received upon exercise or exchange of this Warrant immediately prior to such reclassification, capital reorganization, change, consolidation, merger, sale, lease sale or conveyance. Any such provision shall include provision provisions for adjustments in respect of such shares of stock and other securities and property that shall be as nearly equivalent as may be practicable to the adjustments provided for in this Warrant. The foregoing provisions of this Section 8 6 shall similarly apply to successive reclassificationreclassifications, capital reorganizations and changes of shares of Common Stock and to successive changes, consolidations, mergers, sales, leases, transfers sales or conveyances. In the event that in connection with any such capital reorganization, reorganization or reclassificationclassification, consolidation, merger, sale, lease, transfer sale or conveyance, additional shares of Common Stock shall be issued in exchange, conversion, substitution or payment, as a in whole or in part, for, or of, a security of the Company other than Common Stock, any such issue shall be treated as an issue of Common Stock covered by the provisions of Section 75(b) hereof.

Appears in 1 contract

Samples: Warrant Agreement (Penn Octane Corp)

AutoNDA by SimpleDocs

Reclassification, Reorganization, Consolidation or Merger. In the event case of any reclassificationReorganization Transaction (as hereinafter defined), capital reorganization or other change of outstanding shares of Common Stock of the Company (other than a subdivision or combination of the outstanding Common Stock, a change in the par value of the Common Stock or a transaction subject to Section 7) or in the event of any consolidation or merger of the Company with or into another corporation (other than a merger in which merger the Company is the continuing corporation and that does not result in any reclassification, capital reorganization or other change of outstanding shares of Common Stock of the class issuable upon exercise of this Warrant) or in the event of any sale, lease, transfer or conveyance to another corporation of the property and assets of the Company as an entirety or substantially as an entirety, the Company Holdings shall, as a condition precedent to such transaction, cause effective provisions to be made so that such other corporation shall assume all of the obligations of the Company hereunder and the Holder shall have the right thereafter, by exercising this Warrant, to purchase the kind and amount of shares of stock and other securities and property (including cash) receivable upon such reclassification, capital reorganization and other change, consolidation, merger, sale, lease, transfer or conveyance Reorganization Transaction by a holder of the number of shares of Common Stock that would might have been received upon exercise of this Warrant immediately prior to such reclassification, capital reorganization, change, consolidation, merger, sale, lease or conveyanceReorganization Transaction. Any such provision shall include provision for adjustments in respect of such shares of stock and other securities and property that shall be as nearly equivalent as may be practicable to the adjustments provided for in this Warrant. The foregoing provisions of this Section 8 9 shall similarly apply to successive Reorganization Transactions. For purposes of this Section 9, "Reorganization Transaction" shall mean (excluding any transaction covered by Section 7 and any transaction pursuant to or in connection with any bankruptcy, insolvency or similar proceeding with respect to Holdings) any reclassification, capital reorganizations and changes reorganization or other change of outstanding shares of Common Stock of Holdings (other than a subdivision or combination of the outstanding Common Stock and to successive changes, consolidations, mergers, sales, leases, transfers other than a change in the par value of the Common Stock) or conveyances. In any consolidation or merger of Holdings with or into another corporation (other than a merger with a subsidiary in which Holdings is the event continuing corporation and that does not result in connection with any such capital reorganization, or reclassification, consolidation, merger, sale, lease, transfer capital reorganization or conveyance, additional shares of Common Stock shall be issued in exchange, conversion, substitution or payment, as a whole or in part, for, or of, a security of the Company other than Common Stock, any such issue shall be treated as an issue of Common Stock covered by the provisions of Section 7.change

Appears in 1 contract

Samples: Credit Agreement (Coram Healthcare Corp)

Reclassification, Reorganization, Consolidation or Merger. In the event case of any reclassification, capital reorganization or other change reclassification of outstanding shares of the Common Stock of the Company (other than a change in par value or a subdivision or combination of the outstanding Common Stockas provided for in subsection 4(a) above), a change in the par value of the Common Stock or a transaction subject to Section 7) or in the event of any reorganization, consolidation or merger of the Company with or into another corporation (other than a merger in or reorganization with respect to which merger the Company is the continuing corporation and that which does not result in any reclassification, capital reorganization or other change of outstanding shares of Common Stock reclassification of the class issuable upon exercise Common Stock), or a transfer of this Warrant) all or in the event of any sale, lease, transfer or conveyance to another corporation substantially all of the property and assets of the Company as an entirety Company, or substantially as an entirety, the Company shallpayment of a liquidating distribution then, as a condition precedent to part of any such transactionreorganization, cause effective provisions to reclassification, consolidation, merger, sale or liquidating distribution, lawful provision shall be made so that such other corporation shall assume all the Registered Holder of the obligations of the Company hereunder and the Holder this Warrant shall have the right thereafterthereafter to receive upon the exercise hereof (to the extent, by exercising this Warrantif any, to purchase still exercisable) the kind and amount of shares of stock and or other securities and or property (including cash) receivable upon which such Registered Holder would have been entitled to receive if, immediately prior to any such reorganization, reclassification, capital reorganization and other change, consolidation, merger, salesale or liquidating distribution, leaseas the case may be, transfer or conveyance by a holder of such Registered Holder had held the number of shares of Common Stock that would have been received which were then purchasable upon the exercise of this Warrant immediately prior or if this Warrant shall not then be exerciseable, such other consideration as the Board of Directors of the Company shall reasonably determine to be of comparable value. In any such reclassificationcase, capital reorganizationappropriate adjustment (as reasonably determined by the Board of Directors of the Company) shall be made in the application of the provisions set forth herein with respect to the rights and interests thereafter of the Registered Holder of this Warrant such that the provisions set forth in this Section 4 (including provisions with respect to the Purchase Price) shall thereafter be applicable, changeas nearly as is reasonably practicable, consolidation, merger, sale, lease or conveyance. Any such provision shall include provision for adjustments in respect of such relation to any shares of stock and or other securities and or property that shall be as nearly equivalent as may be practicable to thereafter deliverable upon the adjustments provided for in exercise of this Warrant. The foregoing provisions of this Section 8 shall similarly apply to successive reclassification, capital reorganizations and changes of shares of Common Stock and to successive changes, consolidations, mergers, sales, leases, transfers or conveyances. In the event that in connection with any such capital reorganization, or reclassification, consolidation, merger, sale, lease, transfer or conveyance, additional shares of Common Stock shall be issued in exchange, conversion, substitution or payment, as a whole or in part, for, or of, a security of the Company other than Common Stock, any such issue shall be treated as an issue of Common Stock covered by the provisions of Section 7.

Appears in 1 contract

Samples: Warrant Agreement (North Atlantic Acquisition Corp)

Reclassification, Reorganization, Consolidation or Merger. In the event case of any reclassificationReorganization Transaction (as hereinafter defined), capital reorganization or other change of outstanding shares of Common Stock of the Company (other than a subdivision or combination of the outstanding Common Stock, a change in the par value of the Common Stock or a transaction subject to Section 7) or in the event of any consolidation or merger of the Company with or into another corporation (other than a merger in which merger the Company is the continuing corporation and that does not result in any reclassification, capital reorganization or other change of outstanding shares of Common Stock of the class issuable upon exercise of this Warrant) or in the event of any sale, lease, transfer or conveyance to another corporation of the property and assets of the Company as an entirety or substantially as an entirety, the Company shall, as a condition precedent to such transaction, cause effective provisions to be made so that such other corporation shall assume all of the obligations of the Company hereunder and the Holder shall have the right thereafter, by exercising this Warrant, to purchase the kind and amount of shares of stock and other securities and property (including cash) receivable upon such reclassification, capital reorganization and other change, consolidation, merger, sale, lease, transfer or conveyance Reorganization Transaction by a holder of the number of shares of Common Stock that would have been received upon exercise of this Warrant immediately prior to such reclassification, capital reorganization, change, consolidation, merger, sale, lease or conveyanceReorganization Transaction. Any such provision shall include provision for adjustments in respect of such shares of stock and other securities and property that shall be as nearly equivalent as may be practicable to the adjustments provided for in this Warrant. The foregoing provisions of this Section 8 9 shall similarly apply to successive Reorganization Transactions. For purposes of this Section 9, "Reorganization Transaction" shall mean (excluding any transaction covered by Section 7) any reclassification, capital reorganizations and changes reorganization or other change of outstanding shares of Common Stock of Company (other than a subdivision or combination of the outstanding Common Stock and to successive changes, consolidations, mergers, sales, leases, transfers other then a change in the par value of the Common Stock) or conveyances. In any consolidation or merger of Company with or into another corporation (other than a merger with a subsidiary in which merger Company is the event continuing corporation and that does not result in connection with any such capital reorganization, or reclassification, consolidation, merger, capital reorganization or other change of outstanding shares of Common Stock of the class issuable upon exercise of this Warrant) or any sale, lease, transfer or conveyance, additional shares conveyance to another corporation of Common Stock shall be issued in exchange, conversion, substitution all or payment, as a whole or in part, for, or of, a security substantially all of the Company other than Common Stock, any such issue shall be treated as an issue assets of Common Stock covered by the provisions of Section 7Company.

Appears in 1 contract

Samples: Warrant Agreement (Intira Corp)

Reclassification, Reorganization, Consolidation or Merger. (a) In the event of (i) any reclassification, capital reorganization or other change of outstanding shares of Parent Common Stock of the Company (other than a subdivision or combination of the outstanding Parent Common Stock, Stock and other than a change in the par value of the Parent Common Stock or a transaction subject to Section 7Stock) or (ii) in the event of any consolidation or merger of the Company Parent with or into another corporation (other than the Merger or a merger in which merger the Company Parent is the continuing corporation and that does not result in any reclassification, capital reorganization or other change of outstanding shares of Parent Common Stock of the class issuable upon exercise of this WarrantStock) or (iii) in the event of any sale, lease, transfer or conveyance to another corporation of the property and assets of the Company Parent as an entirety or substantially as an entirety, the Company Parent shall, as a condition precedent to such transaction, cause effective provisions to be made so that such other corporation shall assume all of the obligations of the Company Parent hereunder and the Holder shall have the right thereafter, by exercising this Warrant, thereafter to purchase receive the kind and amount of shares of stock and other securities and property (including cash) receivable upon such reclassification, capital reorganization and other change, consolidation, merger, sale, lease, transfer lease or conveyance by a holder Holder of the number of shares of Parent Common Stock that would might have been received upon exercise as part of this Warrant a Deferred Payment immediately prior to such reclassification, capital reorganization, change, consolidation, merger, sale, lease or conveyance. Any such provision shall include provision for adjustments in respect of such shares of stock and other securities and property that shall be as nearly equivalent as may be practicable to the adjustments provided for in this Warrant. The foregoing provisions of this Section 8 13 shall similarly apply to successive reclassification, capital reorganizations and changes of shares of Parent Common Stock and to successive changes, consolidations, mergers, salessale, leaseslease, transfers or conveyances. In the event of any adjustment in respect of an event described in clause (i) above that fails to provide the same economic benefit to Holders that they would have received had such an event not taken place or in connection with any the event of a circumstance described in clause (ii) or (iii) above, then for purposes of determining such capital reorganizationnumber of Parent Common Stock receivable as part of the Deferred Payment, or reclassificationit shall be assumed that the Gross Deferred Payment Amount was equal to $84 million and, consolidationnotwithstanding anything to the contrary herein, merger, sale, lease, transfer or conveyance, additional the Net Deferred Payment Amount was settled entirely in shares of Parent Common Stock shall be issued in exchangeStock. (b) In the event of a subdivision (including, conversionwithout limitation, substitution by stock split or paymentstock dividend) or combination (including, as a whole or in partwithout limitation, for, or of, a security by reverse stock split) of the Company other than outstanding Parent Common Stock, any such issue the provisions hereof shall be treated as an issue adjusted, including without limitation, the number of Available Parent Shares and the shares of Parent Common Stock covered by that might otherwise have been received as part of a Deferred Payment, in order to provide the provisions of Section 7same economic benefit to Holders that they would have received had such an event not taken place.

Appears in 1 contract

Samples: Contingent Deferred Payment Agreement (Getty Images Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!