Dividends, Distributions or Subdivisions Clause Samples

Dividends, Distributions or Subdivisions. In the event the Corporation at any time or from time to time after the date hereof shall declare or pay any dividend or make any other distribution on the Preferred Stock payable in Preferred Stock or effect a subdivision of the outstanding shares of Preferred Stock (by reclassification or otherwise than by payment of a dividend in Preferred Stock), then and in any such event, the number of shares for which this Warrant is exercisable and the Warrant Price shall be appropriately adjusted to reflect such dividend, distribution or subdivision as of: (1) in the case of any such dividend or distribution, immediately after the close of business on the record date for the determination of holders of Preferred Stock entitled to receive such dividend or distribution, or (2) in the case of any such subdivision, at the close of business on the date immediately prior to the date upon which such corporate action becomes effective. If such record date or other effective date shall have been fixed and such dividend, distribution or subdivision shall not have been fully paid or effected on the date fixed therefor, the adjustment previously made to the number of shares for which this Warrant is exercisable which became effective on such record date or other date shall be canceled as of the close of business on such record date or other date, and thereafter the number of shares for which this Warrant is exercisable shall be adjusted pursuant to this Section 4.1 as of the time of actual payment of such dividend, distribution or effectiveness of such subdivision.