Voluntary Adjustment by the Company. The Company may at its option, at any time during the term of this Warrant, reduce the then current Exercise Price to any amount and for any period of time deemed appropriate by the Board of Directors of the Company, including such reductions in the Exercise Price as the Company considers to be advisable in order that any event treated for Federal income tax purposes as a dividend of stock or stock rights shall not be taxable to the recipients; provided, however, that no such adjustment in Exercise Price shall affect the number of Warrant Shares.
Appears in 4 contracts
Samples: Warrant Purchase Agreement (Community Distributors Inc), Warrant Agreement (Autotote Corp), Common Stock Purchase Warrant (Community Distributors Inc)
Voluntary Adjustment by the Company. The Company may at its option, at any time during the term of this Warrant, reduce the then current Exercise Price to any amount and for any period of time deemed appropriate by the Board of Directors of the Company, including such reductions in the Exercise Price as the Company considers to be advisable in order that any event treated for Federal income tax purposes as a dividend of stock or stock rights shall not be taxable to the recipients; provided, however, that no such adjustment in Exercise Price shall affect the number of Warrant Shares.
Appears in 1 contract
Voluntary Adjustment by the Company. The Company may at its option, at any time during the term of this Warrantthe Warrants, reduce the then current Exercise Price to any amount and for any period of time deemed appropriate by the Board of Directors of the Company, including such reductions in the Exercise Price as the Company considers to be advisable in order that any event treated for Federal income tax purposes as a dividend of stock share or stock share rights shall not be taxable to the recipients; provided, however, that no such adjustment in Exercise Price shall affect the number of Warrant Shares.
Appears in 1 contract
Samples: Warrant Agreement (Biovail Corporation International)
Voluntary Adjustment by the Company. The Company may at its ----------------------------------- option, at any time during the term of this Warrant, reduce the then current Exercise Price to any amount and for any period of time deemed appropriate by the Board of Directors of the Company, including such reductions in the Exercise Price as the Company considers to be advisable in order that any event treated for Federal income tax purposes as a dividend of stock or stock rights shall not be taxable to the recipients; provided, however, that no such adjustment in -------- ------- Exercise Price shall affect the number of Warrant Shares.
Appears in 1 contract
Samples: Credit Agreement (Autotote Corp)