Common use of Extraordinary Events Regarding Common Stock Clause in Contracts

Extraordinary Events Regarding Common Stock. In the event that the Company shall (a) issue additional shares of the Common Stock as a dividend or other distribution on outstanding Common Stock or any preferred stock issued by the Company, (b) subdivide its outstanding shares of Common Stock, (c) combine its outstanding shares of the Common Stock into a smaller number of shares of the Common Stock, then, in each such event, (i) the number of shares of Common Stock that the Holder shall thereafter, on the exercise hereof as provided in Section 1, be entitled to receive shall be adjusted to a number determined by multiplying the number of shares of Common Stock that would otherwise (but for the provisions of this Section 4) be issuable on such exercise by a fraction of which (a) the numerator is the number of issued and outstanding shares of Common Stock immediately after such any such event, and (b) the denominator is the number of issued and outstanding shares of Common Stock immediately prior to any such event, and (ii) the Exercise Price shall be accordingly adjusted so that the aggregate Exercise Price prior to such adjustment shall equal to the aggregate Exercise Price following such adjustment.

Appears in 24 contracts

Samples: Securities Purchase Agreement (PetroAlgae Inc.), Securities Purchase Agreement (PetroAlgae Inc.), PetroAlgae Inc.

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Extraordinary Events Regarding Common Stock. In the event that the Company shall (a) issue additional shares of the Common Stock as a dividend or other distribution on outstanding Common Stock or any preferred stock issued by the Company, (b) subdivide its outstanding shares of Common Stock, or (c) combine its outstanding shares of the Common Stock into a smaller number of shares of the Common StockStock (each of the preceding clauses (a) through (c), inclusive, an “Event”), then, in on the occurrence of each such event, (i) the number of shares of Common Stock that the Holder shall thereafterthereafter be entitled to receive, on the exercise hereof as provided in Section 1, be entitled to receive shall be adjusted increased or decreased to a number determined by multiplying the number of shares of Common Stock that would otherwise (but for would, immediately prior to the provisions occurrence of such Event, be issuable upon the exercise of this Section 4) be issuable on such exercise Warrant by a fraction of which (a) the numerator is the number of issued and outstanding shares of Common Stock immediately after the occurrence of such any such eventEvent, and (b) the denominator is the number of issued and outstanding shares of Common Stock immediately prior to any the occurrence of such event, and (ii) the Exercise Price shall be accordingly adjusted so that the aggregate Exercise Price prior to such adjustment shall equal to the aggregate Exercise Price following such adjustmentEvent.

Appears in 10 contracts

Samples: Common Stock Purchase Warrant (Biodelivery Sciences International Inc), Common Stock Purchase Warrant (Biodelivery Sciences International Inc), Common Stock Purchase Warrant (Biodelivery Sciences International Inc)

Extraordinary Events Regarding Common Stock. In the event that the Company shall (a) issue additional shares of the Common Stock as a dividend or other distribution on outstanding Common Stock or any preferred stock issued by the Company, (b) subdivide its outstanding shares of Common Stock, (c) combine its outstanding shares of the Common Stock into a smaller number of shares of the Common Stock, then, in each such event, (i) the number of shares of Common Stock that the Holder holder shall thereafter, on the exercise hereof as provided in Section 1, be entitled to receive shall be adjusted to a number determined by multiplying the number of shares of Common Stock that would otherwise (but for the provisions of this Section 4) be issuable on such exercise by a fraction of which (a) the numerator is the number of any issued and outstanding shares of Common Stock common stock immediately after such any such eventevent that would otherwise (but for the provisions of this Section 4) be in effect, and (b) the denominator is the number of any issued and outstanding shares of Common Stock common stock immediately prior to any such event. Notwithstanding the foregoing, and (ii) in no event shall the Exercise Price shall be accordingly adjusted so that less than the aggregate Exercise Price prior to such adjustment shall equal to par value of the aggregate Exercise Price following such adjustmentCommon Stock.

Appears in 3 contracts

Samples: Jmar Technologies Inc, Jmar Technologies Inc, Jmar Technologies Inc

Extraordinary Events Regarding Common Stock. In the event that the Company shall shall: (ai) issue additional shares of the Common Stock as a dividend or other distribution on outstanding Common Stock or any preferred stock issued by the Company, (bii) subdivide its outstanding shares of Common Stock, or (ciii) combine its outstanding shares of the Common Stock into a smaller number of shares of the Common StockStock (each of the preceding clauses (i) through (iii), inclusive, an “Event”), then, in on the occurrence of each such eventEvent, (i) the number of shares of Common Stock that the Holder shall thereafterthereafter be entitled to receive, on the exercise hereof as provided in Section 1, be entitled to receive of this Warrant shall be adjusted increased or decreased to a number determined by multiplying the number of shares of Common Stock that would otherwise (but for would, immediately prior to the provisions occurrence of such Event, be issuable upon the exercise of this Section 4) be issuable on such exercise Warrant by a fraction of which which: (aA) the numerator is the number of issued and outstanding shares of Common Stock immediately after the occurrence of such any such eventEvent, and (bB) the denominator is the number of issued and outstanding shares of Common Stock immediately prior to any the occurrence of such event, and (ii) the Exercise Price shall be accordingly adjusted so that the aggregate Exercise Price prior to such adjustment shall equal to the aggregate Exercise Price following such adjustmentEvent.

Appears in 2 contracts

Samples: Disaster Preparedness Systems Inc., Disaster Preparedness Systems Inc.

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Extraordinary Events Regarding Common Stock. In the event that the Company shall (a) issue additional shares of the Common Stock as a dividend or other distribution on outstanding Common Stock or any preferred stock issued by the Company, (b) subdivide its outstanding shares of Common Stock, (c) combine its outstanding shares of the Common Stock into a smaller number of shares of the Common Stock, then, in each such event, (i) the Exercise Price shall, simultaneously with the happening of such event, be adjusted by multiplying the then Exercise Price by a fraction, the numerator of which shall be the number of shares of Common Stock outstanding immediately prior to such event and the denominator of which shall be the number of shares of Common Stock outstanding immediately after such event, and the product so obtained shall thereafter be the Exercise Price then in effect. The Exercise Price, as so adjusted, shall be readjusted in the same manner upon the happening of any successive event or events described herein in this Section 4. The number of shares of Common Stock that the Holder holder shall thereafter, on the exercise hereof as provided in Section 1, be entitled to receive shall be adjusted to a number determined by multiplying the number of shares of Common Stock that would otherwise (but for the provisions of this Section 4) be issuable on such exercise by a fraction of which (a) the numerator is the number of issued and outstanding shares of Common Stock immediately after such any such event, and (b) the denominator is the number of issued and outstanding shares of Common Stock immediately prior to any such event, and (ii) the Exercise Price shall be accordingly adjusted so that the aggregate Exercise Price prior to such adjustment shall equal to the aggregate Exercise Price following such adjustment.Section

Appears in 1 contract

Samples: Pacific Cma Inc

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