Other Distributions. If the Company, at any time while this Warrant is outstanding, distributes to holders of Common Stock (i) evidences of its indebtedness, (ii) shares of any class of capital stock, (iii) rights or warrants to subscribe for or purchase any shares of any class of capital stock or (iv) any other asset, other than a distribution of Common Stock covered by Section 9(a), (in each case, "DISTRIBUTED PROPERTY"), then in each such case the Exercise Price in effect immediately prior to the record date fixed for determination of stockholders entitled to receive such distribution (and the Exercise Price thereafter applicable) shall be adjusted (effective on and after such record date) to equal the product of such Exercise Price multiplied by a fraction, (A) the numerator of which shall be Market Price on such record date less the then fair market value of the Distributed Property distributed in respect of one outstanding share of Common Stock, which, if the Distributed Property is other than cash or marketable securities, shall be as determined in good faith by the Board of Directors of the Company whose determination shall be described in a board resolution, and (B) the denominator of which shall be the Market Price on such record date; provided, however, that if following the record date for such distribution the Company rescinds or modifies such distribution, the Exercise Price shall be appropriately adjusted (as of the date that the Company effectively rescinds or modifies such distribution) to take into account the effect of such rescinded or modified distribution on the Exercise Price pursuant to this Section 9(d).
Appears in 9 contracts
Sources: Warrant Agreement (Biopure Corp), Warrant Agreement (Biopure Corp), Warrant Agreement (Biopure Corp)
Other Distributions. If the Company, at any time while this Warrant is outstanding, distributes to holders of Common Stock (i) evidences of its indebtedness, (ii) shares of any class of capital stock, (iii) rights or warrants to subscribe for or purchase any shares of any class of capital stock or (iv) any other asset, other than a distribution of Common Stock covered by Section 9(a), (in each case, "DISTRIBUTED PROPERTY"“Distributed Property”), then in each such case the Exercise Price in effect immediately prior to the record date fixed for determination of stockholders entitled to receive such distribution (and the Exercise Price thereafter applicable) shall be adjusted (effective on and after such record date) to equal the product of such Exercise Price multiplied by a fraction, (A) the numerator of which shall be Market Price on such record date less the then fair market value of the Distributed Property distributed in respect of one outstanding share of Common Stock, which, if the Distributed Property is other than cash or marketable securities, shall be as reasonably determined in good faith by the Board of Directors of the Company whose determination shall be described in a board resolution, and (B) the denominator of which shall be the Market Price on such record date; provided, however, that if following the record date for such distribution the Company rescinds or modifies such distribution, the Exercise Price shall be appropriately adjusted (as of the date that the Company effectively rescinds or modifies such distribution) to take into account the effect of such rescinded or modified distribution on the Exercise Price pursuant to this Section 9(d).
Appears in 5 contracts
Sources: Revenue Sharing and Note Purchase Agreement (Inventergy Global, Inc.), Securities Agreement (Marathon Patent Group, Inc.), Securities Agreement (Inventergy Global, Inc.)
Other Distributions. If the Company, at any time while this Warrant is outstanding, Corporation distributes to all holders of shares of Common Stock (i) evidences of its indebtedness, (ii) shares of any class of capital stock, (iii) rights Convertible Securities or warrants to subscribe for Options or purchase any shares of any class of capital stock or (iv) any other assetassets for which there is no corresponding distribution in respect of the Preferred Stock pursuant to Section 4(a)(i) (which excludes, other than a for the avoidance of doubt, any distribution of Common cash or non-cash property for which there is a corresponding distribution in respect of the Preferred Stock covered by pursuant to Section 9(a4(a)(i), (in each case, "DISTRIBUTED PROPERTY"), then in each such case the Exercise Conversion Price in effect immediately prior to the record date fixed Ex-Date for determination of stockholders entitled to receive such distribution (and the Exercise Price thereafter applicable) shall be adjusted (effective on and after to the price determined by multiplying the Conversion Price in effect immediately prior to the Ex-Date for such record date) to equal distribution by the product of such Exercise Price multiplied by a following fraction: SP0 – FMV SP0 Where, (A) SP0 = the numerator of which shall be Market Price of a share of Common Stock on the date immediately prior to the Ex-Date for such record date less distribution. FMV = the then fair market value of the Distributed Property distributed in respect portion of the distribution applicable to one outstanding share of Common StockStock on the Ex-Date for such distribution, whichin the case of a non-cash distribution or with respect to the non-cash portion of a distribution, if the Distributed Property is other than cash or marketable securitiesany, shall be as determined in (i) by the good faith determination of the Board of Directors or (ii) if, within five Business Days following notice from the Corporation of the value determined by the Board of Directors pursuant to clause (i), the Holders of a majority of the Company whose determination shall outstanding shares of Preferred Stock object in good faith to such determination, then the fair market value will be described in determined by a board resolutionnationally recognized independent investment banking firm that has for this purpose (x) been selected by the Board of Directors, and (By) is reasonably acceptable to Holders of a majority of the denominator outstanding shares of which Preferred Stock; provided, that such value, whether determined pursuant to the foregoing clause (i) or (ii), shall not for the purposes hereof in any event be equal to or greater than the Market Price of a share of Common Stock on such record date; provided. In a “spin-off,” where the Corporation makes a distribution to all holders of shares of Common Stock consisting of capital stock of any class or series, howeveror similar equity interests of, that or relating to, a Subsidiary of the Corporation or other business unit, the Conversion Price will be adjusted on the 15th Trading Day after the effective date of the distribution by multiplying such Conversion Price in effect immediately prior to such 15th Trading Day by the following fraction: MP0 MP0 + MPs Where, MP0 = (i) if the Common Stock is listed or quoted on a principal U.S. national or regional securities exchange or traded on an over-the-counter market, the Market Price of a share of Common Stock for the period ending on and including the tenth Trading Day following the record effective date for such distribution the Company rescinds or modifies of such distribution, or (ii) if the Exercise Common Stock is not listed or quoted on a principal U.S. national or regional securities exchange or traded on an over-the-counter market, the Market Price of a share of Common Stock on the effective date of such distribution. MPs = (i) if the capital stock or equity interests distributed to the holders of shares of Common Stock are listed or quoted on a principal U.S. national or regional securities exchange or traded on an over-the-counter market, an amount equal to the product of (x) the number of shares of such capital stock or equity interests representing the portion of the distribution applicable to one share of Common Stock and (y) the Market Price of such capital stock or equity interests for the period ending on and including the tenth Trading Day following the effective date of such distribution, or (ii) if such capital stock or equity interests are not listed or quoted on a principal U.S. national or regional securities exchange or traded on an over-the-counter market, the Market Price of the capital stock or equity interests representing the portion of the distribution applicable to one share of Common Stock on the effective date of such distribution (after giving effect to such distribution). In the event that such distribution described in this Section 9(a)(iii) is not so paid or made, the Conversion Price shall be appropriately adjusted (readjusted, effective as of the date the Board of Directors publicly announces its decision not to pay or make such dividend or distribution, to the Conversion Price that the Company effectively rescinds would then be in effect if such dividend or modifies such distribution) to take into account the effect of such rescinded or modified distribution on the Exercise Price pursuant to this Section 9(d)had not been declared.
Appears in 3 contracts
Sources: Investment Agreement, Registration Rights Agreement (Beacon Roofing Supply Inc), Investment Agreement (Beacon Roofing Supply Inc)
Other Distributions. If the Company, at any time while this Warrant is outstanding, distributes to holders of Common Stock (i) evidences of its indebtedness, (ii) shares of any class of capital stock, (iii) rights or warrants to subscribe for or purchase any shares of any class of capital stock or (iv) any other asset, other than a distribution of Common Stock covered by Section 9(a), (in each case, "DISTRIBUTED PROPERTY"“Distributed Property”), then in each such case the Exercise Price in effect immediately prior to the record date fixed for determination of stockholders entitled to receive such distribution (and the Exercise Price thereafter applicable) shall be adjusted (effective on and after such record date) to equal the product of such Exercise Price multiplied by a fraction, (A) the numerator of which shall be Market Price on such record date less the then fair market value of the Distributed Property distributed in respect of one outstanding share of Common Stock, which, if the Distributed Property is other than cash or marketable securities, shall be as determined in good faith by the Board of Directors of the Company whose determination shall be described in a board resolution, and (B) the denominator of which shall be the Market Price on such record date; provided, however, that if following the record date for such distribution the Company rescinds or modifies such distribution, the Exercise Price shall be appropriately adjusted (as of the date that the Company effectively rescinds or modifies such distribution) to take into account the effect of such rescinded or modified distribution on the Exercise Price pursuant to this Section 9(d).
Appears in 2 contracts
Sources: Warrant Agreement (Biopure Corp), Warrant Agreement (Biopure Corp)
Other Distributions. If In case the Company, at any time while this Warrant is outstanding, distributes Company shall fix a record date for the making of a distribution to all holders of shares of its Common Stock (i1) evidences of its indebtedness, (ii) shares of any class of capital stock, (iii) rights or warrants to subscribe for or purchase any shares of any class of capital stock other than its Common Stock or (iv2) of evidence of indebtedness of the Company or any other assetsubsidiary or (3) of assets, other than a distribution or (4) of Common Stock covered by Section 9(a), warrants or similar rights (in each case, "DISTRIBUTED PROPERTY"case excluding any dividends or distribution referred to in Section 10.1(d)), then in each such case the Exercise Price in effect immediately prior to on the record date fixed will be reduced by an amount equal, in the case of a distribution in cash, to the amount thereof payable per share of the Common Stock, or in the case of any other distribution, to the fair value thereof per share of the Common Stock as determined by the Board of Directors. Such reductions shall take effect on the record date for determination such distribution. In such event, the number of stockholders entitled to receive such distribution (and Shares issuable upon the Exercise Price thereafter applicable) exercise of this Warrant shall be adjusted increased to the number obtained by dividing (effective on and after such record datex) to equal the product of such Exercise Price multiplied by a fraction, (A) the numerator number of which shall be Market Price on Shares issuable upon the exercise of this Warrant before such record date less the then fair market value of the Distributed Property distributed in respect of one outstanding share of Common Stock, which, if the Distributed Property is other than cash or marketable securities, shall be as determined in good faith by the Board of Directors of the Company whose determination shall be described in a board resolutionadjustment, and (B) the denominator of which shall be Exercise Price in effect immediately prior to the Market issuance giving rise to this adjustment by (y) the new Exercise Price on such record date; provided, however, determined in accordance with the immediately preceding sentence. In the event that if following the record date for such distribution the Company rescinds or modifies such distributionis not so made, the Exercise Price and the number of Shares issuable upon exercise of this Warrant then in effect shall be appropriately adjusted (readjusted, effective as of the date that when the Company effectively rescinds Board determines not to distribute such shares, evidences of indebtedness, assets, rights or modifies such distribution) warrants, as the case may be, to take into account the effect of such rescinded or modified distribution on the Exercise Price pursuant to that would then be in effect and the number of Warrant Shares that would then be issuable upon exercise of this Section 9(d)Warrant if such record date and distribution had not been fixed.
Appears in 2 contracts
Sources: Warrant Agreement (Evolve Software Inc), Warrant Agreement (Evolve Software Inc)
Other Distributions. If the Company, at any time while this Warrant is outstanding, distributes to holders of Common Stock (i) evidences of its indebtedness, (ii) shares of any class of capital stock, (iii) rights or warrants to subscribe for or purchase any shares of any class of capital stock or (iv) any other asset, other than a distribution of Common Stock covered by Section SECTION 9(a), (in each case, "DISTRIBUTED PROPERTY"), then in each such case the Exercise Price in effect immediately prior to the record date fixed for determination of stockholders entitled to receive such distribution (and the Exercise Price thereafter applicable) shall be adjusted (effective on and after such record date) to equal the product of such Exercise Price multiplied by a fraction, (A) the numerator of which shall be Market Price on such record date less the then fair market value of the Distributed Property distributed in respect of one outstanding share of Common Stock, which, if the Distributed Property is other than cash or marketable securities, shall be as determined in good faith by the Board of Directors of the Company whose determination shall be described in a board resolution, and (B) the denominator of which shall be the Market Price on such record date; providedPROVIDED, howeverHOWEVER, that if following the record date for such distribution the Company rescinds or modifies such distribution, the Exercise Price shall be appropriately adjusted (as of the date that the Company effectively rescinds or modifies such distribution) to take into account the effect of such rescinded or modified distribution on the Exercise Price pursuant to this Section 9(d).
Appears in 1 contract
Sources: Warrant Agreement (Biopure Corp)
Other Distributions. If the Company, at any time while this Warrant is outstanding, distributes to holders of Common Stock (i) evidences of its indebtedness, (ii) shares of any class of capital stock, (iii) rights or warrants to subscribe for or purchase any shares of any class of capital stock or (iv) any other asset, other than a distribution of Common Stock covered by Section 9(a10(a), (in each case, "DISTRIBUTED PROPERTY"), then in each such case the Exercise Price in effect immediately prior to the record date fixed for determination of stockholders entitled to receive such distribution (and the Exercise Price thereafter applicable) shall be adjusted (effective on and after such record date) to equal the product of such Exercise Price multiplied by a fraction, (A) the numerator of which shall be Market Price on such record date less the then fair market value of the Distributed Property distributed in respect of one outstanding share of Common Stock, which, if the Distributed Property is other than cash or marketable securities, shall be as determined in good faith by the Board of Directors of the Company whose determination shall be described in a board resolution, and (B) the denominator of which shall be the Market Price on such record date; provided, however, that if following the record date for such distribution the Company rescinds or modifies such distribution, the Exercise Price shall be appropriately adjusted (as of the date that the Company effectively rescinds or modifies such distribution) to take into account the effect of such rescinded or modified distribution on the Exercise Price pursuant to this Section 9(d10(d).
Appears in 1 contract
Sources: Warrant Agreement (Biopure Corp)
Other Distributions. If the Company, at any time while this Warrant is outstanding, distributes to holders of Common Stock (i) evidences of its indebtedness, (ii) shares of any class of capital stock, (iii) rights or warrants to subscribe for or purchase any shares of any class of capital stock or (iv) any other asset, other than a distribution of Common Stock covered by Section 9(a), (in each case, "DISTRIBUTED PROPERTY"“Distributed Property”), then in each such case the Exercise Price and the exercise price of the Share Warrants in effect immediately prior to the record date fixed for determination of stockholders entitled to receive such distribution (and the Exercise Price and the exercise price of the Share Warrants thereafter applicable) shall be adjusted (effective on and after such record date) to equal the product of such Exercise Price or exercise price of the Share Warrants, as applicable, multiplied by a fraction, (A) the numerator of which shall be Market Price on such record date less the then fair market value of the Distributed Property distributed in respect of one outstanding share of Common Stock, which, if the Distributed Property is other than cash or marketable securities, shall be as reasonably determined in good faith by the Board of Directors of the Company whose determination shall be described in a board resolution, and (B) the denominator of which shall be the Market Price on such record date; provided, however, that if following the record date for such distribution the Company rescinds or modifies such distribution, the Exercise Price and the exercise price of the Share Warrants shall be appropriately adjusted (as of the date that the Company effectively rescinds or modifies such distribution) to take into account the effect of such rescinded or modified distribution on the Exercise Price and the exercise price of the Share Warrants, as applicable, pursuant to this Section 9(d).
Appears in 1 contract
Other Distributions. If the Company, at any time while this Warrant is outstanding, distributes to holders of Common Stock (i) evidences of its indebtedness, (ii) shares of any class of capital stock, (iii) rights or warrants to subscribe for or purchase any shares of any class of capital stock or (iv) any other asset, other than a distribution of Common Stock covered by Section 9(a), or ordinary cash dividends not to exceed $0.50 per year (in each case, "DISTRIBUTED PROPERTY"“Distributed Property”), then in each such case the Exercise Price in effect immediately prior to the record date fixed for determination of stockholders entitled to receive such distribution (and the Exercise Price thereafter applicable) shall be adjusted (effective on and after such record date) to equal the product of such Exercise Price multiplied by a fraction, (A) the numerator of which shall be Market Price on such record date less the then fair market value of the Distributed Property distributed in respect of one outstanding share of Common Stock, which, if the Distributed Property is other than cash or marketable securities, shall be as reasonably determined in good faith by the Board of Directors of the Company whose determination shall be described in a board resolution, and (B) the denominator of which shall be the Market Price on such record date; provided, however, that if following the record date for such distribution the Company rescinds or modifies such distribution, the Exercise Price shall be appropriately adjusted (as of the date that the Company effectively rescinds or modifies such distribution) to take into account the effect of such rescinded or modified distribution on the Exercise Price pursuant to this Section 9(d).
Appears in 1 contract
Sources: Credit and Security Agreement (Long Island Iced Tea Corp.)