Common use of Pro Rata Repurchases Clause in Contracts

Pro Rata Repurchases. In case the Company or any subsidiary thereof shall, make a Pro Rata Repurchase, the Warrant Price shall be adjusted by dividing the Warrant Price in effect immediately prior to such action by a fraction (which in no event shall be less than one), the numerator of which shall be the product of (A) the number of Common Shares outstanding immediately before such Pro Rata Repurchase minus the number of Common Shares repurchased in such Pro Rata Repurchase and (B) the Market Price as of the day immediately preceding the first public announcement by the Company of the intent to effect such Pro Rata Repurchase, and the denominator of which shall be (A) the product of (x) the number of Common Shares outstanding immediately before such Pro Rata Repurchase and (y) the Market Price as of the day immediately preceding the first public announcement by the Company of the intent to effect such Pro Rata Repurchase minus (B) the aggregate purchase price of the Pro Rata Repurchase.

Pro Rata Repurchases. In case the Company or any subsidiary thereof shall, shall make a Pro Rata Repurchasepro rata repurchase of shares of Common Stock, the Warrant Price shall be adjusted by dividing the Current Warrant Price in effect immediately prior to such action shall be adjusted (but shall not be increased) by multiplying such price by a fraction (which in no event shall be less than one)fraction, the numerator of which shall be the product of (A) the number of Common Shares outstanding immediately before such Pro Rata Repurchase minus the number of Common Shares repurchased in such Pro Rata Repurchase and (B) the Market Price as of the day immediately preceding the first public announcement by the Company of the intent to effect such Pro Rata Repurchase, and the denominator of which shall be (Ai) the product of (x) the number of shares of Common Shares outstanding Stock Outstanding immediately before such Pro Rata Repurchase and (y) the Current Market Price of the Common Stock as of the day close of business on the Business Day immediately preceding the first public announcement by the Company of the intent to effect such Pro Rata Repurchase minus (Bii) the aggregate purchase price of the Pro Rata Repurchase and the denominator of which shall be the product of (i) the number of shares of Common Stock Outstanding immediately before such Pro Rata Repurchase minus the number of shares of Common Stock repurchased by the Company or any subsidiary thereof in such Pro Rata Repurchase and (ii) the Current Market Price of the Common Stock as of the close of business on the Business Day immediately preceding the first public announcement by the Company of the intent to effect such Pro Rata Repurchase. Such adjustment shall become effective immediately after the effective date of such Pro Rata Repurchase.