Common use of Split, Subdivision or Combination Clause in Contracts

Split, Subdivision or Combination. If the Corporation shall in any manner split, subdivide or combine the outstanding shares or Units of Series B Junior Participating Preferred Stock (or undertake any similar transaction), the outstanding shares or Units, as applicable, of the Series A Junior Participating Preferred Stock shall be proportionally split, subdivided or combined in the same manner and on the same basis as the outstanding shares or Units of the Series B Junior Participating Preferred Stock have been split, subdivided or combined. Any decrease or increase in the number of shares or Units of the Series B Junior Participating Preferred Stock resulting from a split, subdivision, combination or consolidation of shares or Units or other capital reclassification shall not be permitted unless parallel action is taken with respect to the Series A Junior Participating Preferred Stock, so that the number of shares or Units, as applicable, of each of the Series B Junior Participating Preferred Stock and Series A Junior Participating Preferred Stock shall be impacted proportionately.

Appears in 2 contracts

Samples: Purchase Preferred Stock, ICO Global Communications (Holdings) LTD

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Split, Subdivision or Combination. If the Corporation shall in any manner split, subdivide or combine the outstanding shares or Units of Series B A Junior Participating Preferred Stock (or undertake any similar transaction), the outstanding shares or Units, as applicable, of the Series A B Junior Participating Preferred Stock shall be proportionally split, subdivided or combined in the same manner and on the same basis as the outstanding shares or Units of the Series B A Junior Participating Preferred Stock have been split, subdivided or combined. Any decrease or increase in the number of shares or Units of the Series B A Junior Participating Preferred Stock resulting from a split, subdivision, combination or consolidation of shares or Units or other capital reclassification shall not be permitted unless parallel action is taken with respect to the Series A B Junior Participating Preferred Stock, so that the number of shares or Units, as applicable, of each of the Series B A Junior Participating Preferred Stock and Series A B Junior Participating Preferred Stock shall be impacted proportionately.

Appears in 2 contracts

Samples: Purchase Preferred Stock, ICO Global Communications (Holdings) LTD

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