Common use of Stock Dividends, Subdivisions, Reclassifications or Combinations Clause in Contracts

Stock Dividends, Subdivisions, Reclassifications or Combinations. If the Corporation (i) declares a dividend or makes a distribution on its Class A Common Stock in shares of its Class A Common Stock, (ii) subdivides or reclassifies the outstanding shares of Class A Common Stock into a greater number of shares, or (iii) combines or reclassifies the outstanding Class A Common Stock into a smaller number of shares, the Conversion Price in effect at the time of the record date for such dividend or distribution or the effective date of such subdivision, combination, or reclassification will be proportionately adjusted so that the holder of any shares of Series A Preferred Stock surrendered for conversion after such date will be entitled to receive the number of shares of Class A Common Stock which such holder would have owned or been entitled to receive had such Series A Preferred Stock been converted immediately prior to such date. Successive adjustments in the Conversion Price will be made whenever any of the foregoing events occur.

Appears in 2 contracts

Samples: Merger Agreement (Dynegy Inc), Merger Agreement (Illinova Corp)

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Stock Dividends, Subdivisions, Reclassifications or Combinations. If the Corporation shall (i) declares declare a dividend or makes make a distribution on its Class A Common Stock in shares of its Class A Common Stock, (ii) subdivides subdivide or reclassifies reclassify the outstanding shares of Class A Common Stock into a greater number of shares, or (iii) combines combine or reclassifies reclassify the outstanding Class A Common Stock into a smaller number of shares, or (iv) take similar action, the Conversion Price in effect at the time of the record date for such dividend or distribution or the effective date of such subdivision, combination, reclassification or reclassification will other similar action shall be proportionately adjusted so that the holder of any shares of Series A Preferred Stock surrendered for conversion after such date will shall be entitled to receive the number of shares of Class A Common Stock which such holder he would have owned or been entitled to receive had such shares of the Series A Preferred Stock been converted immediately prior to such date. Successive adjustments in the Conversion Price will shall be made whenever any of the foregoing events event specified above shall occur.

Appears in 1 contract

Samples: Securities Purchase Agreement (Amcon Distributing Co)

Stock Dividends, Subdivisions, Reclassifications or Combinations. If the Corporation corporation shall (i) declares declare a dividend or makes make a distribution on its Class A Common Stock in shares of its Class A Common Stock, (ii) subdivides subdivide or reclassifies reclassify the outstanding shares of Class A Common Stock into a greater number of shares, or (iii) combines combine or reclassifies reclassify the outstanding Class A Common Stock into a smaller number of shares, the Optional Conversion Price in effect at the time of the record date for such dividend or distribution or the effective date of such subdivision, combination, combination or reclassification will shall be proportionately adjusted so that the holder of any shares of Series A Preferred Stock surrendered for conversion Optional Conversion after such date will shall be entitled to receive the number of shares of Class A Common Stock which such holder he would have owned or been entitled to receive had such Series A Preferred Stock been converted immediately prior to such date. Successive adjustments in the Optional Conversion Price will shall be made whenever any of the foregoing events event specified above shall occur.

Appears in 1 contract

Samples: Series a Non Voting 4% Cumulative Convertible Preferred Stock Exchange Agreement (Comprehensive Care Corp)

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Stock Dividends, Subdivisions, Reclassifications or Combinations. If the Corporation shall (i) declares declare a dividend or makes make a distribution on its Class A Common Stock in shares of its Class A Common Stock, (ii) subdivides subdivide or reclassifies reclassify the outstanding shares of Class A Common Stock into a greater number of shares, or (iii) combines combine or reclassifies reclassify the outstanding Class A Common Stock into a smaller number of shares, or (iv) take similar action, the Conversion Price in effect at the time of the record date for such dividend or distribution or the effective date of such subdivision, combination, reclassification or reclassification will other similar action shall be proportionately adjusted so that the holder of any shares of Series A C Preferred Stock surrendered for conversion after such date will shall be entitled to receive the number of shares of Class A Common Stock which such holder would have owned or been entitled to receive had such shares of Series A C Preferred Stock been converted immediately prior to such date. Successive adjustments in the Conversion Price will shall be made whenever any of the foregoing events event specified above shall occur.

Appears in 1 contract

Samples: Securities Purchase Agreement (Draupnir LLC)

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