Common use of Deferral of Certain Adjustments Clause in Contracts

Deferral of Certain Adjustments. No adjustment to the Exercise Price (including the related adjustment to the number of Warrant Shares purchasable upon the exercise of each Warrant) shall be required hereunder unless such adjustment, together with other adjustments carried forward as provided below, would result in an increase or decrease of at least one percent (1%) of the Exercise Price; provided, however, that any adjustments which by reason of this 5.1(g) are not required to be made shall be carried forward and taken into account in any subsequent adjustment. No adjustment need be made for a change in the par value of the Common Stock or Non-Voting Common Stock; provided, however, the Company shall not increase the par value of the Common Stock or Non-Voting Common Stock to exceed the Exercise Price. All calculations under this Section 5.1 shall be made to the nearest 1/1,000 of one cent or to the nearest 1/1,000th of a Warrant Share, as the case may be.

Appears in 3 contracts

Samples: Warrant Agreement (Discovery Zone Inc), Warrant Agreement (Discovery Zone Inc), Warrant Agreement (Discovery Zone Inc)

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Deferral of Certain Adjustments. No adjustment to the Exercise Price (including the related adjustment to the number of Warrant Shares purchasable upon the exercise of each Warrant) shall be required hereunder unless such adjustment, together with other adjustments carried forward as provided below, would result in an increase or decrease of at least one percent (1%) of the Exercise Price; providedPROVIDED, howeverHOWEVER, that any adjustments which by reason of this 5.1(g) are not required to be made shall be carried forward and taken into account in any subsequent adjustment. No adjustment need be made for a change in the par value of the Common Stock or Non-Voting Common Stock; providedPROVIDED, howeverHOWEVER, the Company shall not increase the par value of the Common Stock or Non-Voting Common Stock to exceed the Exercise Price. All calculations under this Section 5.1 shall be made to the nearest 1/1,000 of one cent or to the nearest 1/1,000th of a Warrant Share, as the case may be.

Appears in 1 contract

Samples: Warrant Agreement (Discovery Zone Inc)

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