Common use of Subdivision or Combinations Clause in Contracts

Subdivision or Combinations. In case the Company shall at any time change as a whole, by subdivision or combination in any manner or by the making of a stock dividend, the number of outstanding shares of Common Stock into a different number of shares, with or without par value, (i) the Exercise Quantity immediately prior to such change shall be increased or decreased, as the case may be, in direct proportion to the increase or decrease, respectively, in the number of shares outstanding immediately prior to such change, and (ii) the Exercise Price in effect immediately prior to such change shall be increased or decreased, as the case may be, in inverse proportion to such increase or decrease in the number of such shares outstanding immediately prior to such change.

Appears in 2 contracts

Sources: Warrant Agreement (Reliable Power Systems Inc), Warrant Agreement (Recycling Industries Inc)