Common use of Discretionary Adjustments Clause in Contracts

Discretionary Adjustments. The Company may from time to time, to the extent permitted by law and subject to applicable rules of the New York Stock Exchange, decrease the Exercise Price and/or increase the Number of Warrants for each Warrant Certificate by any amount for any period of at least 20 days. In that case, the Company shall give the Warrantholders at least 15 days’ prior notice of such increase or decrease, and such notice shall state the decreased Exercise Price and/or increased Number of Warrants for each Warrant Certificate and the period during which the decrease and/or increase will be in effect. The Company may make such decreases in the Exercise Price and/or increases in the Number of Warrants for each Warrant Certificate, in addition to those set forth in this Article 5, as the Company’s Board of Directors deems advisable, including to avoid or diminish any income tax to holders of the Common Stock resulting from any dividend or distribution of stock (or rights to acquire stock) or from any event treated as such for income tax purposes.

Appears in 6 contracts

Samples: Warrant Agreement (General Motors Co), Warrant Agreement (General Motors Co), Warrant Agreement (General Motors Co)

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Discretionary Adjustments. The Company may from time to time, to the extent permitted by law and subject to applicable rules of any exchange on which any of the New York Stock ExchangeCompany’s securities are then listed, decrease the Exercise Price and/or increase the Warrant Share Number of Warrants for each Warrant Certificate by any amount for any period of at least 20 twenty (20) days. In that case, the Company shall give the Warrantholders at least 15 fifteen (15) days’ prior notice of such increase or decrease, and such notice shall state the decreased Exercise Price and/or increased Warrant Share Number of Warrants for each Warrant Certificate and the period during which the decrease and/or increase will be in effect. The Company may make such decreases in the Exercise Price and/or increases in the Number of Warrants for each Warrant CertificateShare Number, in addition to those set forth in this Article 54, as the Company’s Board of Directors deems advisable, including to avoid or diminish any income tax to holders of the Common Stock resulting from any dividend or distribution of stock (or rights to acquire stock) or from any event treated as such for income tax purposes.

Appears in 1 contract

Samples: Warrant Agreement (C&J Energy Services Ltd.)

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Discretionary Adjustments. The Company may from time to time, to the extent permitted by law and subject to applicable rules of any exchange on which any of the New York Stock ExchangeCompany’s securities are then listed, decrease the Exercise Price and/or increase the Warrant Share Number of Warrants for each Warrant Certificate by any amount for any period of at least 20 twenty (20) days. In that case, the Company shall give the Warrantholders at least 15 fifteen (15) days’ prior notice of such increase or decrease, and such notice shall state the decreased Exercise Price and/or increased Warrant Share Number of Warrants for each Warrant Certificate and the period during which the decrease and/or increase will be in effect. The Company may make such decreases in the Exercise Price and/or increases in the Number of Warrants for each Warrant CertificateShare Number, in addition to those set forth in this Article 5‎Article 4, as the Company’s Board of Directors deems advisable, including to avoid or diminish any income tax to holders of the Common Stock resulting from any dividend or distribution of stock (or rights to acquire stock) or from any event treated as such for income tax purposes.

Appears in 1 contract

Samples: Warrant Agreement (Bonanza Creek Energy, Inc.)

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