Fractional Shares and Warrants. Anything contained herein to the contrary notwithstanding, the Company shall not be required to issue any fraction of a share of Common Stock in connection with the exercise of Warrants. Warrants may not be exercised in such number as would result (except for the provisions of this paragraph) in the issuance of a fraction of a share of Common Stock unless the Holder is exercising all Warrants then owned by the Holder. In such event, the Company shall, upon the exercise of all of such Warrants, issue to the Holder the largest aggregate whole number of Shares of Common Stock called for thereby upon receipt of the Purchase Price for all of such Warrants and pay a sum in cash equal to the remaining fraction of a Share multiplied by its exercise price as of the last business day preceding the date on which the Warrants are presented for exercise.
Fractional Shares and Warrants. (a) Anything contained herein to the contrary notwithstanding, the Company shall not be required to issue any fraction of a share of Common Stock in connection with the exercise of Warrants. Warrants may not be exercised in such number as would result (except for the provisions of this Section) in the issuance of a fraction of a share of Common Stock, unless the Warrant Holder is presenting for exercise Warrant Certificates representing all Warrants then owned of record by such Warrant Holder. In such event, the Company shall, upon the exercise of all of such Warrants, issue to such Warrant Holder the largest aggregate whole number of shares of Common Stock called for thereby upon receipt of the Exercise Price for all of such Warrants and pay a sum in cash equal to the remaining fraction of a share of Common Stock, multiplied by its fair market value as of the first business day preceding the date on which the Warrants are presented for exercise. Such fair market value shall be (1) the average of the high and low bid prices of the Common Stock, as reported by the National Association of Securities Dealers Automated Quotation System on such date, or (2) if the Common Stock is then listed on a national securities exchange or the national market system of the over-the-counter market, the closing price of the Common Stock on such exchange on such date. Every Warrant Holder, by the acceptance of the Warrant Certificate, expressly waives any right to exercise Warrants for a fractional share of Common Stock except as provided in this subsection.
Fractional Shares and Warrants. Upon a conversion hereunder, the Company shall not be required to issue certificates representing fractions of any Conversion Shares or Warrants, and the number of Conversion Shares and Warrants shall be rounded down to the nearest whole number.
Fractional Shares and Warrants. No fraction of a share of Parent Common Stock or Merger Warrant will be issued by virtue of the Merger, and each holder of shares of Company Common Stock who would otherwise be entitled to a fraction of a share of Parent Common Stock or Merger Warrant (after aggregating all fractional shares of Parent Common Stock and Merger Warrants that otherwise would be received by such holder) shall, upon compliance with Section 1.6, receive from Parent, in lieu of such fractional share, one (1) share of Parent Common Stock or one (1) Merger Warrant, as the case may be.
Fractional Shares and Warrants. (1) Anything contained herein to the contrary notwithstanding, the Bank shall not be required to issue any fraction of a share of Common Stock in connection with the exercise of Warrants. Warrants may not be exercised in such number as would result (except for the provisions of this Section) in the issuance of a fraction of a share of Common Stock unless the Warrant Holder is presenting for exercise Warrant Certificates representing all Warrants then owned of record by such Warrant Holder. In such event, the Bank shall, upon the exercise of all of such Warrants, issue to such Warrant Holder the aggregate number of shares of Common Stock called for thereby, rounded to the nearest whole number of shares.
Fractional Shares and Warrants. Anything contained herein to the contrary notwithstanding, the Company shall not be required to issue any fraction of a share of Common Stock in connection with the exercise of this Warrant. This Warrant may not be exercised in such number as would result (except for the provisions of this paragraph) in the issuance of a fraction of a share of Common Stock unless the Holder is exercising this Warrant in its entirety. In such event, the Company shall, upon the exercise of this Warrant, issue to the Holder the largest aggregate whole number of shares of Common Stock called for thereby upon receipt of the Purchase Price for all of such shares of Common Stock and pay a sum in cash equal to the remaining fraction of a share of Common Stock, multiplied by its Market Price Per Share (as determined pursuant to Section 9.2 below) as of the last business day preceding the date on which the Warrant is presented for exercise.
Fractional Shares and Warrants. No certificates or scrip representing fractional shares of the Company will be issued pursuant to the Merger and each holder of SPAC Shares or SPAC warrants who would otherwise be entitled to a fraction of a Company Share or Company warrant, as the case may be, at any time the Company Shares or Company warrants are distributed to any such Person pursuant to this Agreement (after aggregating all fractional shares or warrants that otherwise would be received by such holder in connection with such distribution) shall receive from the Company, in lieu of such fractional share or warrant, one Company Share or one Company warrant, as the case may be.
Fractional Shares and Warrants. No certificates or scrip representing fractional shares of the SPAC will be issued pursuant to the Merger and each holder of Company Shares or Company Options who would otherwise be entitled to a fraction of a SPAC Share, as the case may be, at any time the SPAC Shares are distributed to any such Person pursuant to this Agreement (after aggregating all fractional shares or warrants that otherwise would be received by such holder in connection with such distribution) shall receive from the SPAC, in lieu of such fractional share or warrant, one SPAC Share.
Fractional Shares and Warrants. No fractional shares of Parent Stock shall be issued in the Merger. All fractional shares of Parent Stock that a holder of Shares would otherwise be entitled to receive as a result of the Merger shall be aggregated and if a fractional share results from such aggregation, such holder shall be entitled to receive from Parent, in lieu thereof, upon surrender of stock certificates for exchange pursuant to this Article 1, an amount in cash 38 determined by multiplying the Parent Stock Price by the fraction of a share of Parent Stock to which such holder would otherwise have been entitled. No interest shall be paid with respect to such cash payment. No fractions of a Parent Warrant shall be issued in the Merger. All fractions of a Parent Warrant that a holder of Shares would otherwise be entitled to receive as a result of the Merger shall be aggregated and if a fractional Parent Warrant results from such aggregation, such holder shall be entitled to receive from Parent, in lieu thereof, upon surrender of stock certificates for exchange pursuant to this Article 1, an amount in cash determined by multiplying such fraction by an amount equal to $.31 divided by the Parent Warrant Fraction. No interest shall be paid with respect to such cash payment.
Fractional Shares and Warrants. 9.1 Anything contained herein to the contrary notwithstanding, the Company shall not be required to issue any fraction of a share of Preferred Stock in connection with the exercise of the Warrant. The Warrant may not be exercised in such number as would result (except for the provisions of this paragraph) in the issuance of a fraction of a share of Preferred Stock unless the Holder is exercising all Warrant Shares then exercisable under the Warrant. In such event, the Company shall, upon the exercise of the Warrant, issue to the Holder the largest aggregate whole number of shares of Preferred Stock called for thereby upon receipt of the Purchase Price for all of the Warrant Shares thereby purchased and pay a sum in cash equal to the remaining fraction of a share of Preferred Stock, multiplied by the Purchase Price.
