Common use of Distribution in Lieu of Adjustment Clause in Contracts

Distribution in Lieu of Adjustment. No adjustment in the number of LifeMap Shares purchasable upon cancellation of each Warrant in connection with the exercise of this Option need be made under paragraphs (b) and (c) of this Section 3 if the Company delivers to the Purchaser the rights options, warrants, or convertible or exchangeable securities, or evidences of indebtedness or assets referred to in those paragraphs which the Purchaser would have been entitled to receive had this Option been exercised in full prior to the happening of such event or the record date with respect thereto. No adjustment need be made for a change in the par value of the LifeMap Shares.

Appears in 4 contracts

Samples: Stock and Warrant Purchase Agreement (Biotime Inc), Option Agreement (Biotime Inc), Option Agreement (Biotime Inc)

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