Common use of Stock Dividends, Subdivision and Combination Clause in Contracts

Stock Dividends, Subdivision and Combination. In the event that, during the Term, the Company shall: (i) pay a dividend or other distribution of Common Stock to the holders of its outstanding Common Stock, (ii) subdivide its outstanding shares of Common Stock into a larger number of shares of Common Stock, or (iii) combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock; then the number of shares of Warrant Stock shall be adjusted so as to consist of the number of shares of Common Stock that a record holder of the number of shares of Common Stock comprising the Warrant Stock immediately prior to the happening of such event would own or be entitled to receive after the happening of such event. The adjustments required by this subsection shall be made whenever and as often as any specified event requiring an adjustment shall occur.

Appears in 8 contracts

Samples: Warrant Agreement (McLaren Performance Technologies Inc), Warrant Agreement (McLaren Performance Technologies Inc), Warrant Agreement (McLaren Performance Technologies Inc)

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Stock Dividends, Subdivision and Combination. In the event that, -------------------------------------------- during the Term, the Company shall: (i) pay a dividend or other distribution of Common Stock to the holders of its outstanding Common Stock, (ii) subdivide its outstanding shares of Common Stock into a larger number of shares of Common Stock, or (iii) combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock; then the number of shares of Warrant Stock shall be adjusted so as to consist of the number of shares of Common Stock that a record holder of the number of shares of Common Stock comprising the Warrant Stock immediately prior to the happening of such event would own or be entitled to receive after the happening of such event. The adjustments required by this subsection shall be made whenever and as often as any specified event requiring an adjustment shall occur.

Appears in 1 contract

Samples: Stock Option Purchase Agreement (McLaren Performance Technologies Inc)

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