Common use of Stock Dividends; Stock Splits Clause in Contracts

Stock Dividends; Stock Splits. In case the Company at any time or from time to time after the date hereof shall declare or pay any dividend or otherwise make a distribution or distributions on the Common Stock payable in Common Stock, or shall effect a subdivision of the outstanding shares of Common Stock into a greater number of shares of Common Stock (by reclassification or otherwise than by payment of a dividend in Common Stock), then, and in each case, subject to Section 4.3 hereof, the Warrant Price shall be reduced, concurrently with the dividend or subdivision, to a price determined by multiplying the Warrant Price by a fraction: (a) the numerator of which shall be the number of shares of Common Stock outstanding immediately prior to the dividend or subdivision; and (b) the denominator of which shall be the number of shares of Common Stock outstanding immediately after the dividend or subdivision. Additional shares of Common Stock shall be deemed to have been issued and to be outstanding (a) in the case of any dividend, immediately after the close of business on the record date for the determination of holders of any class of securities entitled to receive the dividend, or (b) in the case of any subdivision, at the close of business on the day immediately prior to the day upon which the corporate action becomes effective. Additional shares of Common Stock deemed to have been issued pursuant to this Section 4.1 shall be deemed to have been issued for no consideration.

Stock Dividends; Stock Splits. In case the Company at any time or from time to time after the date hereof shall declare or pay any dividend or otherwise make a distribution or distributions on the Common Stock payable in Common Stock, or shall effect a subdivision of the outstanding shares of Common Stock into a greater number of shares of Common Stock (by reclassification or otherwise than by payment of a dividend in Common Stock), then, and in each case, subject to Section 4.3 hereof, the Warrant Price shall be reduced, concurrently with the dividend or subdivision, to a price determined by multiplying the Warrant Price by a fraction: (a) the numerator of which shall be the number of shares of Common Stock outstanding immediately prior to the dividend or subdivision; and (b) the denominator of which shall be the number of shares of Common Stock outstanding immediately after the dividend or subdivision. Additional shares of Common Stock shall be deemed to have been issued and to be outstanding (a) in the case of any dividend, immediately after the close of business on the record date for the determination of holders of any class of securities entitled to receive the dividend, or (b) in the case of any subdivision, at the close of business on the day immediately prior to the day upon which the corporate action becomes effective. Additional shares of Common Stock deemed to have been issued pursuant to this Section 4.1 shall be deemed to have been issued for no consideration.

Stock Dividends; Stock Splits. In case the Company at any time or from time to time after the date hereof shall declare or pay any dividend or otherwise make a distribution or distributions on the Common Stock payable in Common Stock, or shall effect a subdivision of the outstanding shares of Common Stock into a greater number of shares of Common Stock (by reclassification or otherwise than by payment of a dividend in Common Stock), then, and in each case, subject to Section 4.3 hereof, the Warrant Exercise Price shall be reduced, concurrently with the dividend or subdivision, to a price determined by multiplying the Warrant Exercise Price by a fraction: (a) the numerator of which shall be the number of shares of Common Stock outstanding immediately prior to the dividend or subdivision; and (b) the denominator of which shall be the number of shares of Common Stock outstanding immediately after the dividend or subdivision. Additional shares of Common Stock shall be deemed to have been issued and to be outstanding (a) in the case of any dividend, immediately after the close of business on the record date for the determination of holders of any class of securities entitled to receive the dividend, or (b) in the case of any subdivision, at the close of business on the day immediately prior to the day upon which the corporate action becomes effective. Additional shares of Common Stock deemed to have been issued pursuant to this Section 4.1 4.6 shall be deemed to have been issued for no consideration.