Common use of Protection Against Dilution Clause in Contracts

Protection Against Dilution. (a) If, at any time or from time to time after the Effective Date, the Company shall distribute to the holders of the Common Stock (i) securities, other than shares of Common Stock, or (ii) property, excluding cash, without payment therefore, with respect to the Common Stock, then, and in each such case, the Holder, upon the exercise of this Warrant, shall be entitled to receive the securities and properties which the Holder would have held on the date of such exercise if, on the Effective Date the Holder had been the holder of record of the number of shares of Common Stock subscribed for upon such exercise and, during the period from the Effective Date to and including the date of such exercise, had retained such shares and securities and properties receivable by the Holder during such period. Notice of each such distribution shall be forthwith mailed by the Company to the Holder.

Appears in 8 contracts

Samples: Scott Shawn A, Scott Shawn A, Mid State Raceway Inc

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Protection Against Dilution. (a) If, at any time or from time to time after the Effective Datedate of this Warrant, the Company shall distribute to the holders of the Common Stock (i) securities, securities other than shares of the Common Stock, or (ii) property, excluding property other than cash, without payment thereforetherefor, with respect to the Common Stock, then, and in each such case, the Holder, upon the exercise of this Warrant, shall be entitled to receive the securities and properties which property that the Holder would have held hold on the date of such exercise if, on the Effective Date date of this Warrant, the Holder had been the holder of record of the number of shares of Common Stock subscribed for upon such exercise and, during the period from the Effective Date date of this Warrant to and including the date of such exercise, had retained such shares and the securities and properties property receivable by the Holder during such period. Notice of each such distribution shall be forthwith mailed by the Company given to the Holder.

Appears in 4 contracts

Samples: Maya LLC, Maya LLC, Maya LLC

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Protection Against Dilution. (a) If, at any time or from time to time after the Effective Datedate of this Warrant, the Company shall distribute to the holders of the Common Stock (i) securities, securities other than shares of the Common Stock, or (ii) property, excluding property other than cash, without payment therefore, with respect to the Common Stock, then, and in each such case, the Holder, upon the exercise of this Warrant, shall be entitled to receive the securities and properties which property that the Holder would have held hold on the date of such exercise if, on the Effective Date date of this Warrant, the Holder had been the holder of record of the number of shares of Common Stock subscribed for upon such exercise and, during the period from the Effective Date date of this Warrant to and including the date of such exercise, had retained such shares and the securities and properties property receivable by the Holder during such period. Notice of each such distribution shall be forthwith mailed by the Company given to the Holder.

Appears in 1 contract

Samples: Howarth Paul R

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