Common use of Adjustment for Dividends in Other Stock, Property, etc Clause in Contracts

Adjustment for Dividends in Other Stock, Property, etc. Reclassification, etc. In case at any time or from time to time the holders of Common Stock (or Other Securities) shall have received, or (on or after the record date fixed for the determination of stockholders eligible to receive) shall have become entitled to receive, without payment therefor, other or additional stock or other securities or property by way of dividend or any cash (excluding cash dividends payable solely out of earnings or earned surplus of the Company), or other or additional stock or other securities or property (including cash) by way of spin-off, split-up, reclassification, recapitalization, combination of shares or similar corporate rearrangement other than additional shares of Common Stock (or Other Securities) issued as a stock dividend or in a stock split (adjustments in respect of which are provided for in Section 5), then and in each such event, the Holder of this Warrant, on the exercise hereof as provided in Section 1 shall be entitled to receive the amount of stock and other securities and property that the Holder would have been entitled to receive on the effective date of such event if the Holder had so exercised this Warrant immediately prior thereto, giving effect to all adjustments called for during such period by Sections 4 and 5.

Appears in 2 contracts

Sources: Securities Purchase Agreement (Autobond Acceptance Corp), Common Stock Purchase Warrant (Autobond Acceptance Corp)

Adjustment for Dividends in Other Stock, Property, etc. Reclassification, etc. In case at any time or from time to time the holders of Common Stock (or Other Securities) shall have received, or (on or after the record date fixed for the determination of stockholders eligible to receive) shall have become entitled to receive, without payment therefor, other or additional stock or other securities or property (other than cash) by way of dividend or any cash (excluding cash dividends payable solely out of earnings or earned surplus of the Company), or other or additional stock or other securities or property (including cash) by way of or spin-off, split-up, reclassification, recapitalization, combination of shares or similar corporate rearrangement other than additional shares of Common Stock (or Other Securities) issued as a stock dividend or in a stock split (adjustments in respect of which are provided for in Section 5), then and in each such event, the Holder of this Warrant, on the exercise hereof as provided in Section 1 shall be entitled to receive the amount of stock and other securities and property (including cash in the cases referred to in subdivisions (b) and (c) of this Section 3) that the Holder would have been entitled to receive on the effective date of such event if the Holder had so exercised this Warrant immediately prior thereto, giving effect to all adjustments called for during such period by Sections 4 and 5.

Appears in 1 contract

Sources: Common Stock Purchase Warrant (Visual Edge Systems Inc)