Common use of Cash in Lieu of Fractional Shares Clause in Contracts

Cash in Lieu of Fractional Shares. No fractional shares of Common Stock or scrip representing fractional shares shall be issued upon the conversion of shares of Series A Preferred Stock. Instead of any fractional shares of Common Stock which would otherwise be issuable upon conversion of Series A Preferred Stock, the Corporation shall pay to the holder of the shares of Series A Preferred Stock which were converted a cash adjustment in respect of such fractional shares in an amount equal to the same fraction of the market price per share of the Common Stock (as determined in a reasonable manner prescribed by the Board of Directors) at the close of business on the Conversion Date. The determination as to whether or not any fractional shares are issuable shall be based upon the aggregate number of shares of Series A Preferred Stock being converted at any one time by any holder thereof, not upon each share of Series A Preferred Stock being converted.

Cash in Lieu of Fractional Shares. No fractional shares of Class A Common Stock or scrip representing fractional shares shall be issued upon the conversion of shares of Series A Preferred Stock. Instead of any fractional shares of Class A Common Stock which would otherwise be issuable upon conversion of Series A Preferred Stock, the Corporation shall pay to the holder of the shares of Series A Preferred Stock which were converted a cash adjustment in respect of such fractional shares in an amount equal to the same fraction of the market price per share of the Class A Common Stock (as determined in a reasonable manner prescribed by the Board of Directors) at the close of business on the Conversion Date. The determination as to whether or not any fractional shares are issuable shall be based upon the aggregate number of shares of Series A Preferred Stock being converted at any one time by any holder thereof, not upon each share of Series A Preferred Stock being converted.

Cash in Lieu of Fractional Shares. No fractional shares of Common --------------------------------- Stock or scrip representing fractional shares shall be issued upon the conversion of shares of Series A C Preferred Stock. Instead of any fractional shares of Common Stock which would otherwise be issuable upon conversion of Series A C Preferred Stock, the Corporation Company shall pay to the holder of the shares of Series A C Preferred Stock which were converted a cash adjustment in respect of such fractional shares in an amount equal to the same fraction of the market price per share of the Common Stock (as determined in a reasonable manner prescribed by the Board of Directors) at the close of business on the Conversion Date. The determination as to whether or not any fractional shares are issuable shall be based upon the aggregate total number of shares of Series A C Preferred Stock being converted at any one time by any holder thereof, not upon each share of Series A C Preferred Stock being converted.

Cash in Lieu of Fractional Shares. No fractional shares of --------------------------------- Common Stock or scrip representing fractional shares shall be issued upon the conversion of shares of Series A Preferred Stock. Instead of any fractional shares of Common Stock which would otherwise be issuable upon conversion of Series A Preferred Stock, the Corporation Company shall pay to the holder of the shares of Series A Preferred Stock which were converted a cash adjustment in respect of such fractional shares in an amount equal to the same fraction of the market price per share of the Common Stock (as determined in a reasonable manner prescribed by the Board of Directors) at the close of business on the Conversion Date. The determination as to whether or not any fractional shares are issuable shall be based upon the aggregate total number of shares of Series A Preferred Stock being converted at any one time by any holder thereof, not upon each share of Series A Preferred Stock being converted.

Cash in Lieu of Fractional Shares. No fractional shares of --------------------------------- Common Stock or scrip representing fractional shares shall be issued upon the conversion of shares of Series A B Preferred Stock. Instead of any fractional shares of Common Stock which would otherwise be issuable upon conversion of Series A B Preferred Stock, the Corporation Company shall pay to the holder of the shares of Series A B Preferred Stock which were converted a cash adjustment in respect of such fractional shares in an amount equal to the same fraction of the market price per share of the Common Stock (as determined in a reasonable manner prescribed by the Board of Directors) at the close of business on the Conversion Date. The determination as to whether or not any fractional shares are issuable shall be based upon the aggregate total number of shares of Series A B Preferred Stock being converted at any one time by any holder thereof, not upon each share of Series A B Preferred Stock being converted.

Cash in Lieu of Fractional Shares. No fractional shares of Common Stock or scrip representing fractional shares shall be issued upon the conversion of shares of Series A B Junior Preferred Stock. Instead of any fractional shares of Common Stock which would otherwise be issuable upon conversion of Series A B Junior Preferred Stock, the Corporation shall pay to the holder of the shares of Series A B Junior Preferred Stock which were converted a cash adjustment in respect of such fractional shares in an amount equal to the same fraction of the market price per share of the Common Stock (as determined in a reasonable manner prescribed by the Board of Directors) at the close of business on the Conversion Date. The determination as to whether or not any fractional shares are issuable shall be based upon the aggregate number of shares of Series A B Junior Preferred Stock being converted at any one time by any holder thereof, not upon each share of Series A B Junior Preferred Stock being converted.

Cash in Lieu of Fractional Shares. No fractional shares of Common Stock or scrip representing fractional shares shall be issued upon the conversion of shares of Series A C Preferred Stock. Instead of any fractional shares of Common Stock which would otherwise be issuable upon conversion of Series A C Preferred Stock, the Corporation shall pay to the holder of the shares of Series A C Preferred Stock which were converted a cash adjustment in respect of such fractional shares in an amount equal to the same fraction of the market price per share of the Common Stock (as determined in a reasonable manner prescribed by the Board of Directors) at the close of business on the Conversion Date. The determination as to whether or not any fractional shares are issuable shall be based upon the aggregate number of shares of Series A C Preferred Stock being converted at any one time by any holder thereof, not upon each share of Series A Preferred Stock being converted.Stock

Cash in Lieu of Fractional Shares. No fractional shares of Common Stock or scrip representing fractional shares shall be issued upon the conversion of shares of Series A B Preferred Stock. Instead of any fractional shares of Common Stock which would otherwise be issuable upon conversion of Series A B Preferred Stock, the Corporation shall pay to the holder of the shares of Series A B Preferred Stock which were converted a cash adjustment in respect of such fractional shares in an amount equal to the same fraction of the market price per share of the Common Stock (as determined in a reasonable manner prescribed by the Board of Directors) at the close of business on the Conversion Date. The determination as to whether or not any fractional shares are issuable shall be based upon the aggregate number of shares of Series A B Preferred Stock being converted at any one time by any holder thereof, not upon each share of Series A B Preferred Stock being converted.

Cash in Lieu of Fractional Shares. No fractional shares of Common Stock or scrip representing fractional shares shall be issued upon the conversion of shares of Series A C Preferred Stock. Instead of any fractional shares of Common Stock which that would otherwise be issuable upon conversion of Series A C Preferred Stock, the Corporation shall pay to the holder of the shares of Series A C Preferred Stock which were being converted a cash adjustment in respect of such fractional shares in an amount equal to the same fraction of the market price per share of the Common Stock (as determined in a reasonable manner prescribed by the Board of Directors) at the close of business on the Conversion Date. The determination as to whether or not any fractional shares are issuable shall be based upon the aggregate number of shares of Series A C Preferred Stock being converted at any one time by any holder thereof, not upon each share of Series A C Preferred Stock being converted.