Common use of Combination; Liquidation Clause in Contracts

Combination; Liquidation. (a) Except as provided in Section 4.5(b), in the event of any Combination, each Holder shall have the right to receive upon exercise of its Credit Warrants such number of shares of capital stock or other securities or property which such Holder would have been entitled to receive upon or as a result of such Combination had such Credit Warrants been exercised immediately prior to such event. (b) In the event of (i) a Combination where consideration to holders of Common Stock in exchange for their shares is payable solely in cash, or (ii) the dissolution, liquidation or winding-up of the Company, then each Holder of the Credit Warrants will be entitled to receive distributions on an equal basis with the holders of Common Stock or other securities issuable upon exercise of its Credit Warrants, as if such Credit Warrants had been exercised immediately prior to such event, less the Exercise Price. In case of any Combination described in this Section 4.5(b), the surviving or acquiring Person and, in the event of any dissolution, liquidation or winding-up of the Company, the Company, shall make payment to each Holder by delivering a check in such amount as is appropriate (or, in the case of consideration other than cash, such other consideration as is appropriate) to such Person or Persons as it may be directed in writing by such Holder surrendering such Credit Warrants.