Common use of Subdivision or Combination Clause in Contracts

Subdivision or Combination. In case outstanding shares of [a class or series of its Preferred Shares for which Warrants are exercisable] [Common Stock] shall be subdivided into a greater number of shares of [such Preferred Shares] [Common Stock], the Exercise Rate in effect at the opening of business on the day following the day upon which such subdivision becomes effective shall be proportionately increased, and, conversely, in case outstanding shares of [a class or series of its Preferred Shares for which Warrants are exercisable] [Common Stock] shall each be combined into a smaller number of shares of [such Preferred Shares] [Common Stock], the Exercise Rate in effect at the opening of business on the day following the day upon which such combination becomes effective shall be proportionately reduced, such increase or reduction, as the case may be, to become effective immediately after the opening of business on the day following the day upon which such subdivision or combination becomes effective.

Appears in 3 contracts

Samples: Warrant Agreement (Bank of Boston Corp), Warrant Agreement (Old Kent Financial Corp /Mi/), Warrant Agreement (Bankboston Corp)

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Subdivision or Combination. In case outstanding shares of [a class or series of its Preferred Shares Stock for which Warrants are exercisable] [Common Stock] shall be subdivided into a greater number of shares of [such Preferred SharesStock] [Common Stock], the Exercise Rate in effect at the opening of business on the day following the day upon which such subdivision becomes effective shall be proportionately increased, and, conversely, in case outstanding shares of [a class or series of its Preferred Shares Stock for which Warrants are exercisable] [Common Stock] shall each be combined into a smaller number of shares of [such Preferred SharesStock] [Common Stock], the Exercise Rate in effect at the opening of business on the day following the day upon which such combination becomes effective shall be proportionately reduced, such increase or reduction, as the case may be, to become effective immediately after the opening of business on the day following the day upon which such subdivision or combination becomes effective.

Appears in 2 contracts

Samples: Warrant Agreement (Leap Wireless International Inc), Warrant Agreement (U S Wireless Corp)

Subdivision or Combination. In case outstanding shares of [a -------------------------- class or series of its Preferred Shares Stock for which Warrants are exercisable] [Common Stock] shall be subdivided into a greater number of shares of [such Preferred SharesStock] [Common Stock], the Exercise Rate in effect at the opening of business on the day following the day upon which such subdivision becomes effective shall be proportionately increased, and, conversely, in case outstanding shares of [a class or series of its Preferred Shares Stock for which Warrants are exercisable] [Common Stock] shall each be combined into a smaller number of shares of [such Preferred SharesStock] [Common Stock], the Exercise Rate in effect at the opening of business on the day following the day upon which such combination becomes effective shall be proportionately reduced, such increase or reduction, as the case may be, to become effective immediately after the opening of business on the day following the day upon which such subdivision or combination becomes effective.

Appears in 1 contract

Samples: Warrant Agreement (Autozone Inc)

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Subdivision or Combination. In case outstanding shares of [a class or -------------------------- series of its Preferred Shares Stock for which Warrants are exercisable] [Common Stock] shall be subdivided into a greater number of shares of [such Preferred SharesStock] [Common Stock], the Exercise Rate in effect at the opening of business on the day following the day upon which such subdivision becomes effective shall be proportionately increased, and, conversely, in case outstanding shares of [a class or series of its Preferred Shares Stock for which Warrants are exercisable] [Common Stock] shall each be combined into a smaller number of shares of [such Preferred SharesStock] [Common Stock], the Exercise Rate in effect at the opening of business on the day following the day upon which such combination becomes effective shall be proportionately reduced, such increase or reduction, as the case may be, to become effective immediately after the opening of business on the day following the day upon which such subdivision or combination becomes effective.

Appears in 1 contract

Samples: Warrant Agreement (Merrill Lynch Preferred Capital Trust V)

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