Common use of Adjustment of Warrant Price and Number of Warrant Securities Purchasable Clause in Contracts

Adjustment of Warrant Price and Number of Warrant Securities Purchasable. (a) In case at any time R&B Falcon shall issue and sell for cash any Warrant Securities (excluding (i) Warrant Securities issued in any of the transactions described in paragraphs (b), (c) or (d) below and (ii) Warrant Securities issued upon exercise of Warrants) at a price per Share lower than [___%] below the Market Price determined as of the date immediately preceding the date of such sale and issuance, the Warrant Price in effect at the close of business on the date immediately preceding the date of such sale and issuance shall be reduced by multiplying such Warrant Price by a fraction, (i) the numerator of which shall be the sum of (x) the number of Warrant Securities outstanding at the close of business on the date immediately preceding the date of such sale and issuance plus (y) the number of Warrant Securities which the aggregate amount of cash received or receivable for such sale and issuance would purchase at such current Market Price per Warrant Security, and (ii) the denominator of which shall be the total number of Warrant Securities outstanding immediately after such sale and issuance. Such adjustment shall be made successively whenever such an issuance is made.

Adjustment of Warrant Price and Number of Warrant Securities Purchasable. (a) In case at any time R&B Falcon shall issue and sell for cash any Warrant Securities (excluding (i) Warrant Securities issued in any of the transactions described in paragraphs (b), (c) or (d) below and (ii) Warrant Securities issued upon exercise of Warrants) at a price per Share lower than [___%] % below the Market Price determined as of the date immediately preceding the date of such sale and issuance, the Warrant Price in effect at the close of business on the date immediately preceding the date of such sale and issuance shall be reduced by multiplying such Warrant Price by a fraction, (i) the numerator of which shall be the sum of (x) the number of Warrant Securities outstanding at the close of business on the date immediately preceding the date of such sale and issuance plus (y) the number of Warrant Securities Securities, which the aggregate amount of cash received or receivable for such sale sale, and issuance would purchase at such current Market Price per Warrant Security, Security and (ii) the denominator of which shall be the total number of Warrant Securities outstanding immediately after such sale and issuance. Such adjustment shall be made successively whenever such an issuance is made.

Adjustment of Warrant Price and Number of Warrant Securities Purchasable. (a) In case at any time R&B Falcon shall Pattxxxxx xxxll issue and sell for cash any Warrant Securities (excluding (i) Warrant Securities issued in any of the transactions described in paragraphs (b), (c) or (d) below and (ii) Warrant Securities issued upon exercise of Warrants) at a price per Share lower than [___%] % below the Market Price determined as of the date immediately preceding the date of such sale and issuance, the Warrant Price in effect at the close of business on the date immediately preceding the date of such sale and issuance shall be reduced by multiplying such Warrant Price by a fraction, (i) the numerator of which shall be the sum of (x) the number of Warrant Securities outstanding at the close of business on the date immediately preceding the date of such sale and issuance plus (y) the number of Warrant Securities Securities, which the aggregate amount of cash received or receivable for such sale sale, and issuance would purchase at such current Market Price per Warrant Security, Security and (ii) the denominator of which shall be the total number of Warrant Securities outstanding immediately after such sale and issuance. Such adjustment shall be made successively whenever such an issuance is made.

Adjustment of Warrant Price and Number of Warrant Securities Purchasable. (a) In case at any time R&B Falcon shall Pattxxxxx xxxll issue and sell for cash any Warrant Securities (excluding (i) Warrant Securities issued in any of the transactions described in paragraphs (b), (c) or (d) below and (ii) Warrant Securities issued upon exercise of Warrants) at a price per Share lower than [___%] below the Market Price determined as of the date immediately preceding the date of such sale and issuance, the Warrant Price in effect at the close of business on the date immediately preceding the date of such sale and issuance shall be reduced by multiplying such Warrant Price by a fraction, (i) the numerator of which shall be the sum of (x) the number of Warrant Securities outstanding at the close of business on the date immediately preceding the date of such sale and issuance plus (y) the number of Warrant Securities which the aggregate amount of cash received or receivable for such sale and issuance would purchase at such current Market Price per Warrant Security, and (ii) the denominator of which shall be the total number of Warrant Securities outstanding immediately after such sale and issuance. Such adjustment shall be made successively whenever such an issuance is made.