Treatment of Fractional Shares. The Company shall not be required to issue fractional shares of Common Stock in exchange for the Holder Warrants. If more than one Holder Warrant shall be presented for exchange by the Holder, the number of Exchange Shares issuable shall be computed on the basis of the aggregate number of whole shares of Common Stock issuable in exchange for the Holder Warrants so presented. If any fraction of a share of Common Stock would, except for the provisions of this paragraph, be issuable in exchange for Exchange Shares, the Company shall pay to the Holder an amount in cash calculated by it to be equal to the closing market price of one share of Common Stock on June 30, 2006 multiplied by such fraction computed to the nearest whole cent.
Appears in 8 contracts
Samples: Recapitalization Agreement (SJMB Lp), Recapitalization Agreement (St James Capital Partners Lp), Recapitalization Agreement (Black Warrior Wireline Corp)
