Formula Number definition

Formula Number means one thousand (1,000) prior to consummation of the Recapitalization; provided, however, that if at any time prior to the consummation of the Recapitalization, the Corporation shall (i) declare or pay any dividend or make any distribution on the Common Stock, payable in shares of Common Stock; (ii) subdivide (by a stock split or otherwise) the outstanding shares of Common Stock into a larger number of shares of Common Stock; or (iii) combine (by a reverse stock split or otherwise) the outstanding shares of Common Stock into a smaller number of shares of Common Stock, then in each such case the Formula Number in effect immediately prior to such event shall be adjusted to a number determined by multiplying the Formula Number then in effect by a fraction, the numerator of which is the number of shares of Common Stock outstanding immediately after such event and the denominator of which is the number of shares of Common Stock that were outstanding immediately prior to such event (and rounding the result to the nearest whole number); and provided further, that, if prior to the consummation of the Recapitalization the Corporation shall issue any shares of its capital stock in a merger, reclassification, or change of the outstanding shares of Common Stock, then in each such event the Formula Number shall be appropriately adjusted to reflect such merger, reclassification, or change so that each share of Series C Preferred Stock continues to be the economic equivalent of a Formula Number of shares of Common Stock immediately prior to such merger, reclassification, or change.

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Formula Number shall have the meaning set forth in Section 2 of the Certificate of Designation.

Formula Number shall have the meaning set forth in the Certificate of Amendment.

Examples of Formula Number in a sentence

• The Board of Directors of the Company may, at its option, issue, in substitution for Preferred Shares, Common Shares in an amount per Preferred Share equal to the Formula Number (as defined in the Certificate of Designation) if there are sufficient Common Shares issued but not outstanding or authorized but unissued.

• The Board of Directors of the Company may, at its option, issue, in substitution for Preferred Shares, shares of Common Stock in an amount per Preferred Share equal to the Formula Number if there are sufficient shares of Common Stock issued but not outstanding or authorized but unissued.

• After the Initial Preferred Distribution has been made, the holders of Series B Preferred Stock shall be entitled to share pro rata with the holders of Common Stock in the distribution of any remaining assets of the Corporation on the basis of each whole outstanding share of the Series B Preferred Stock receiving an amount equal to the Formula Number then in effect times such distribution on each share of the Common Stock.

• After the Initial Preferred Distribution has been made, the holders of Series C Preferred Stock shall be entitled to share pro rata with the holders of Common Stock in the distribution of any remaining assets of the Corporation on the basis of each whole outstanding share of the Series C Preferred Stock receiving an amount equal to the Formula Number then in effect times such distribution on each share of the Common Stock.

• The Board may, at its option, issue a number of Common Shares in lieu of each Preferred Share equal to the Formula Number (as defined in the Certificate of Designation) if there are sufficient Common Shares issued but not outstanding or authorized but unissued.

More Definitions of Formula Number

Formula Number shall have the meaning set forth in the Certificate of -------------- Designation. "Major Part," when used with reference to the assets of the Company and its ---------- Subsidiaries as of any date, shall mean assets (a) having a fair market value aggregating 50% or more of the total fair market value of all the assets of the Company and its Subsidiaries (taken as a whole) as of the date in question, (b) accounting for 50% or more of the total value (net of depreciation and amortization) of all the assets of the Company and its Subsidiaries (taken as a whole) as would be shown on a consolidated or combined balance sheet of the Company and its Subsidiaries as of the date in question, prepared in accordance with generally accepted accounting principles then in effect, or (c) accounting for 50% or more of the total amount of net income or revenues of the Company and its Subsidiaries (taken as a whole) as would be shown on or derived from a consolidated or combined statement of income of the Company and its Subsidiaries for the period of 12 months ending on the last day of the Company's monthly accounting period next preceding the date in question, prepared in accordance with generally accepted accounting principles then in effect.

Formula Number shall have the meaning set forth in Section 2.1 hereof.

Formula Number means the number of races within the parley bet that must result in a dividend or refund in order for the parlay bet to be successful;

Formula Number shall have the meaning set forth in Section 11(d)(ii) hereof.

Formula Number of shares shall mean $8.875 million divided by (i) in the case of an initial public offering of Shares pursuant to a registration statement on Form S-1, the greater of (A) the product of 1.25 and the per Share offering price of the Shares in such offering and (B) $7.981, or (ii) in any other case, $11.823.

Formula Number means the following: (A) If the Average Closing Price is greater than $14.50 and less than $20.00, the Formula Number shall be $29.00 divided by the Average Closing Price, rounded to three decimal places. (B) If the Average Closing Price is $13.00 or more but not greater than $14.50, the Formula Number shall be two (2). (C) If the Average Closing Price is less than $13.00 and Parent does not terminate this Agreement pursuant to Article VIII, the Formula Number shall be $26.00 divided by the Average Closing Price, rounded to three decimal places. (D) If the Average Closing Price is $20 or more, the Formula Number shall be 1.45.

Formula Number at any time of determination, shall have the meaning set forth in the Certificate of Designations of the Preferred Shares then in effect or, prior to the effectiveness of any such Certificate of Designations, shall have the meaning set forth in Exhibit A hereto.