Common use of Acceleration Event Clause in Contracts

Acceleration Event. In case of any Acceleration Event, Dura shall, as a condition precedent to the consummation of the transaction constituting, or announced as, such Acceleration Event, cause effective provisions to be made so that the Holder of a Warrant shall have the right immediately thereafter, by exercising such Warrant, to purchase during the Exercise Period the aggregate amount and kind of shares of stock and other securities and property that were receivable upon such Acceleration Event by a holder of the number of shares of Common Stock that would have been received immediately prior to such Acceleration Event upon exercise of such Warrant. Any such provisions shall require adjustments in respect of such shares of stock and other securities and assets and other property that shall be as nearly equivalent as may be practicable to the adjustments provided for in such Warrant. The foregoing provisions of this Section 16 shall similarly apply to successive Acceleration Events. Dura shall, at least twenty (20) days prior to the Acceleration Date relating to any Acceleration Event (or if such Acceleration Event was beyond the control of Dura, and Dura did not have knowledge thereof twenty (20) days prior to such Acceleration Date, as soon as practicable thereafter), cause to be mailed to the Holders a notice describing in reasonable detail such Acceleration Event and informing the Holders of the date the Exercise Period will commence and that the Holders may exercise Warrants at any time during the Exercise Period.