Common use of in Event Clause in Contracts

in Event. In the event that a person or group becomes an acquiring person (a “flip-in event”), each holder of a right (other than any acquiring person and certain related parties, whose rights automatically become null and void) will have the right to receive, upon exercise, Company common stock having a value equal to two times the exercise price of the right. If an insufficient number of shares of Company common stock is available for issuance, then the Company’s board of directors would be required to substitute cash, property or other securities of the Company for Company common stock. The rights may not be exercised following a flip-in event while the Company has the ability to cause the rights to be redeemed, as described later in this summary. For example, at an exercise price of $6.00 per right (equivalent to $12.00 for each whole share of Company common stock), each right not owned by an acquiring person (or by certain related parties) following a flip-in event would entitle its holder to purchase $24.00 worth of Company common stock (or other consideration, as noted above) for $12.00. Assuming that Company common stock had a per share value of $4.00 at that time, the holder of each valid right would be entitled to purchase six shares of Company common stock for $12.00.

in Event. In the event that a person or group becomes an acquiring person (a “flip-in event”), each holder of a right (other than any acquiring person and certain related parties, whose rights automatically become null and void) will have the right to receive, upon exercise, Company common stock having a value equal to two times the exercise purchase price of the right. If an insufficient number of shares of Company common stock is available for issuance, then the Company’s board of directors Board would be required to substitute cash, property or other securities of the Company for Company common stock. The rights may not be exercised following a flip-in event while the Company has the ability to cause the rights to be redeemed, as described later in this summary. For example, at an exercise a purchase price of $6.00 22.50 per right (equivalent to $12.00 45.00 for each whole share of Company common stock), each right not owned by an acquiring person (or by certain related parties) following a flip-in event would entitle its holder to purchase $24.00 90.00 worth of Company common stock (or other consideration, as noted above) for $12.0045.00. Assuming that Company common stock had a per share value of $4.00 9.00 at that time, the holder of each valid right would be entitled to purchase six five shares of Company common stock for $12.0045.00.

in Event. In the event that a person or group becomes an acquiring person (a “flip-in event”), each holder of a right (other than any acquiring person and certain related parties, whose rights automatically become null and void) will have the right to receive, upon exercise, Company common stock having a value equal to two times the exercise price of the right. If an insufficient number of shares of Company common stock is available for issuance, then the Company’s board of directors would be required to substitute cash, property or other securities of the Company for Company common stock. The rights may not be exercised following a flip-in event while the Company has the ability to cause the rights to be redeemed, as described later in this summary. For example, at an exercise price of $6.00 45.00 per right (equivalent to $12.00 for each whole share of Company common stock)right, each right not owned by an acquiring person (or by certain related parties) following a flip-in event would entitle its holder to purchase $24.00 90.00 worth of Company common stock (or other consideration, as noted above) for $12.0045.00. Assuming that Company common stock had a per share value of $4.00 15.00 at that time, the holder of each valid right would be entitled to purchase six shares of Company common stock for $12.0045.00.