No Fractional Interests. The Company shall not be required to issue fractions of shares of Common Stock on the exercise of Warrants. If any fraction of a share of Common Stock would, except for the provisions of this section, be issuable on the exercise of any warrant (or specified portions thereof), the Company shall purchase such fraction for an amount in cash equal to the current value of such fraction (a) computed, if the Common Stock shall be listed or admitted to unlisted trading privileges on any national or regional securities exchange, on the basis of the last reported sale price of the Common Stock on such exchange on the last business day prior to the date of exercise upon which such a sale shall have been effected (or, if the Common Stock shall be listed or admitted to unlisted trading privileges on more than one such exchange, on the basis of such price on the exchange designated from time to time for such purpose by the Board of Directors of the Company) or (b) computed, if the Common Stock shall not be listed or admitted to unlisted trading privileges, on the basis of the average of the high and low bid prices of the Common Stock in the Nasdaq Stock Market, on the last business day prior to the date of exercise.
No Fractional Interests. No fractional Warrant Shares, or cash or other property in lieu thereof, shall be issued upon the exercise of Warrants. The Company shall make a payment in cash in respect of any fractional shares which might otherwise be issuable upon exercise of these Warrants, calculated by multiplying the fractional share amount by the Closing Bid price of the Company's Common Stock on the date of exercise; provided that the exercise of multiple Warrants shall be aggregated so that a cash payment in respect of fractional shares pursuant to this Section 10 shall not be made as to a total number greater than one for any single exercise.
No Fractional Interests. No fractional Limited Partnership Interests shall be issued by the Partnership; instead, in the sole discretion of the General Partner, each fractional Limited Partnership Interest shall be rounded to the nearest whole Limited Partnership Interest (the next higher whole Limited Partnership Interest if the fraction is precisely 1⁄2) or an amount equal to the product of the LP Interest Price and such fraction shall be paid in cash by the Partnership.
No Fractional Interests. No Warrant entitling the Holder to ----------------------- purchase fractional interests in Warrant Shares and no fractional Warrant Shares, or cash or other consideration in lieu thereof, will be issued.
No Fractional Interests. Neither certificates nor scrip for fractional interests in shares of Lakeland Stock will be issued in connection with the Merger, but in lieu thereof, each holder of MSB Stock who would otherwise have been entitled to a fraction of a share of Lakeland Stock will be paid an amount of cash equal to such fraction multiplied by the Market Value. All shares of MSB Stock held by each record holder shall be aggregated before determining the need to pay cash in lieu of fractional shares.
No Fractional Interests. No fractions of shares or scrip representing fractions of shares shall be issued upon conversion of Notes. If more than one Note shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount (or specified portion thereof) of the Notes so surrendered. If any fraction of any Ordinary Share would, except for the foregoing provisions of this Section 6.02, be issuable on the conversion of any Note or Notes, the Issuer shall instead (a) round down to the next whole Ordinary Share, in the case of a fraction that is less than or equal to 0.49, or (b) round up to the next whole Ordinary Share, in the case of a fraction that is equal to or greater than 0.50.
No Fractional Interests. No fractional Warrant Shares, or cash or other property in lieu thereof, shall be issued upon the exercise of Warrants.
No Fractional Interests. No fractional units or scrip representing fractional units of any Reference Security shall be delivered at the Closing. Instead of any fractional unit of any such Reference Security which would otherwise be deliverable by any Seller at the Closing, such Seller shall make a cash payment in respect of such fractional unit in an amount equal to the value of such fractional unit based upon the average Closing Price per unit of such Reference Security on the 20 Trading Days immediately prior to, but not including, the second Trading Day preceding the Exchange Date. To the extent practicable, the Sellers will deliver fractional interests of any Reference Property other than cash or a Reference Security at the Closing. If such delivery is not practicable, in lieu of any fractional interest of any Reference Property other than cash or a Reference Security which would otherwise be deliverable at the Closing, the Sellers shall make a cash payment in respect of such fractional interest in an amount equal to the value of such fractional interest based on the fair market value (as determined by a nationally recognized independent investment banking firm retained for this purpose by the Administrator) as of 10:00 A.M. (New York City time) on the third Business Day preceding the Exchange Date of such Reference Property other than cash or a Reference Security.
No Fractional Interests. Neither certificates nor scrip for fractional interests in the Merger Securities issued pursuant to Section 1.4(b) hereof will be issued, but in lieu thereof each holder of shares of ARI Capital Stock who would otherwise have been entitled pursuant to Section 1.4(b) hereof to a fraction of a share of iGo Common Stock will be paid an amount in cash equal to such fraction multiplied by $12.00 (the "MERGER PRICE").
No Fractional Interests. No fractional shares or scrip representing fractional shares shall be issuable upon the Exercise of this Warrant, but on Exercise of this Warrant, Holder may purchase only a whole number of shares of Common Stock. If, on Exercise of this Warrant, Holder would be entitled to a fractional share of Common Stock or a right to acquire a fractional share of Common Stock, such fractional share shall be disregarded and the number of shares of Common Stock issuable upon exercise shall be the next higher number of shares. Reservation of Shares. The Company shall at all times reserve for issuance such number of authorized and unissued shares of Common Stock (or other securities substituted therefor as herein above provided) as shall be sufficient for the Exercise of this Warrant and payment of the Exercise Price. The Company covenants and agrees that upon the Exercise of this Warrant, all shares of Common Stock issuable upon such exercise shall be duly and validly issued, fully paid, nonassessable and not subject to preemptive rights, rights of first refusal or similar rights of any person or entity. Restrictions on Transfer.
