ADJUSTMENT OF SUBSCRIPTION RIGHTS Clause Samples

ADJUSTMENT OF SUBSCRIPTION RIGHTS. Subject to Section 4.1A, the subscription rights attaching to the Special Warrants with respect to the Common Shares issuable upon the exercise or deemed exercise of the Special Warrants shall be subject to adjustment from time to time as follows: (a) if and whenever at any time from the date hereof and prior to the Expiry Time, the Company shall: (i) subdivide its outstanding Common Shares into a greater number of shares; or (ii) consolidate its outstanding Common Shares into a smaller number of shares; the number of Common Shares obtainable upon the exercise or deemed exercise of each Special Warrant shall be adjusted, at no cost to such holder, immediately after the effective date of such subdivision or consolidation by multiplying the number of Common Shares theretofore obtainable on the exercise or deemed exercise thereof by the fraction of which: (A) the numerator shall be the total number of Common Shares outstanding immediately after such date, or, in the case of the issuance of convertible securities, the total number of Common Shares outstanding immediately after such date plus the total number of Common Shares issuable upon conversion or exchange of such convertible securities, and (B) the denominator shall be the total number of Common Shares outstanding immediately prior to such date, (a) shall occur (and all adjustments in this Subsection are cumulative); (b) if and whenever at any time from the date hereof and prior to the Expiry Time, the Company shall issue or distribute to the holders of all or substantially all of the Company's outstanding Common Shares or any securities of the Company including rights, options or warrants to acquire shares of the Company or securities convertible into or exchangeable for shares of the Company or property or assets including cash or evidences of indebtedness, the holder of any Special Warrant who thereafter shall exercise or be deemed to have exercised his right to subscribe for Common Shares thereunder shall be entitled to receive, at no cost to such holder, and shall accept for the same aggregate consideration, in addition to the Common Shares to which he was theretofore entitled upon such exercise or deemed exercise, the kind and amount of securities or property which such holder would have been entitled to receive as a result of such issue or distribution as if, on the effective date thereof, he had been the registered holder of the number of Common Shares to which he was theretofore entitled upon su...

ADJUSTMENT OF SUBSCRIPTION RIGHTS. The above provisions are, however, subject to the following: (a) if shares of the Corporation are reclassified or the capital is otherwise reorganized and if the holder of this Warrant has not exercised its right of purchase prior to the effective date of such capital reorganization, upon the exercise of such right the holder of this Warrant shall be entitled to receive and shall accept in lieu of the number of shares then subscribed for by it but for the same aggregate consideration payable therefor, the number of shares or other securities of the Corporation resulting from such capital reorganization that such holder would have been entitled to receive on such capital reorganization if, on the effective date hereof, it had been the registered holder of the number of shares so subscribed for. (b) if there is a consolidation, amalgamation or merger of the Corporation or a sale of the property and assets of the Corporation as or substantially as an entirety to any other company, and if the holder of this warrant has not exercised its right of purchase prior to the effective date of such consolidation, amalgamation, merger or sale, upon the exercise of such right the holder of this Warrant shall be entitled to receive and shall accept in lieu of the number of shares then subscribed for by it but for the same aggregate consideration payable therefor, the number of shares or other securities or property of the Corporation or of the company resulting from such merger, amalgamation or consolidation or to which such sale may be made, as the case may be, that such holder would have been entitled to receive on such consolidation, amalgamation, merger or sale if, on the record date or the effective date thereof, as the case may be, it had been the registered holder of the number of shares so subscribed for. In any case, the necessary adjustments shall be made in the application of the provisions set forth in this Warrant with respect to the rights and interests hereafter of the holder of the Warrant to the end that the provisions set forth in this Warrant shall thereafter correspondingly be made applicable, as nearly as may reasonably be, in relation to any shares or other securities or property to which the holder hereof is entitled on the exercise of its purchase rights thereafter. Any such adjustment shall be made by and set forth in a supplemental Warrant entered into and approved by the board of directors of the Corporation and shall for all purposes hereof be ...

ADJUSTMENT OF SUBSCRIPTION RIGHTS. 12 4.2 Proceedings Prior to any Action Requiring Adjustment................................. 15 4.3

ADJUSTMENT OF SUBSCRIPTION RIGHTS. (a) The Exercise Price and the number of Ordinary Shares purchasable upon the exercise of a Agent's Compensation Option shall be subject to adjustment from time to time as set forth in this Article 4 with respect to any fact or event described herein occurring after the Issue Date but prior to the Expiry Time. The adjustments provided for in this Article 4 are cumulative. Notwithstanding anything contained in this Article 4, any adjustment made pursuant to any provision of this Article 4 shall be made without duplication of an adjustment otherwise required by and made pursuant to another provision of this Article 4 on account of the same facts or events. (b) After any adjustment pursuant to this Article 4, the term "Ordinary Shares" where used in this Option Certificate shall, unless the context requires otherwise, be interpreted to mean securities or other property that, as a result of all prior adjustments pursuant to this Article 4, the Optionholder is entitled to receive upon the exercise of a Agent's Compensation Option, and the number of Ordinary Shares indicated in any subscription made pursuant to the exercise of Agent's Compensation Options shall be interpreted to mean the number of such securities or other property which, as a result of all prior adjustments pursuant to this Article, the Optionholder is entitled to receive upon the exercise of Agent's Compensation Options entitling the holder thereof to subscribe for and purchase the number of Ordinary Shares so indicated.

ADJUSTMENT OF SUBSCRIPTION RIGHTS. The Conversion Price in effect at any date shall be subject to adjustment from time to time as follows:

ADJUSTMENT OF SUBSCRIPTION RIGHTS. If a capital reorganization or reclassification of the capital stock of the Company, or the consolidation or subdivision of securities, or amalgamation of the Company with another company, is effected (any such event being called a “Capital Reorganization”), the Holder will be entitled to receive, upon the exercise of the right to purchase Common Shares hereunder at any time after the record date for such Capital Reorganization, in lieu of the number of Common Shares to which it was entitled upon exercise, the aggregate number of shares or other securities of the Company or of the body corporate or entity resulting from the Capital Reorganization that the Holder would have been entitled to receive as a result of such Capital Reorganization if, on the record date, the Holder had been the registered holder of the number of Common Shares to which it was entitled upon exercise, and such shares or other securities shall be subject to adjustment thereafter in accordance with provisions the same, as nearly as may be possible, as those contained in this section 1; provided, however, that no such Capital Reorganization will be carried into effect unless all necessary steps have been taken so that the Holder will thereafter be entitled to receive such number of shares or other securities of the Company or of the body corporate resulting from the Capital Reorganization.

ADJUSTMENT OF SUBSCRIPTION RIGHTS. If at any time during the Exercise Period, there is a capital reorganization of the Corporation or a change in respect of or affecting the Shares not otherwise provided for in this Article 3 or a consolidation, merger or amalgamation of the Corporation with or into another body corporate (any such event being called a "CAPITAL REORGANIZATION"), the Holder will be entitled to receive, upon the exercise of the right to purchase Shares hereunder at any time after the record date for such Capital Reorganization, in lieu of the number of Shares to which it was entitled upon exercise, the aggregate number of shares or other securities of the Corporation or of the body corporate resulting from the Capital Reorganization that the Holder would have been entitled to receive as a result of such Capital Reorganization if, on the record date, the Holder had been the registered holder of the number of Shares to which it was entitled upon exercise, and such shares or other securities shall be subject to adjustment thereafter in accordance with provisions the same, as nearly as may be possible, as those contained in this Article 3; provided, however, that no such Capital Reorganization will be carried into effect unless all necessary steps have been taken so that the Holder will thereafter be entitled to receive such number of shares or other securities of the Corporation or of the body corporate resulting from the Capital Reorganization.

ADJUSTMENT OF SUBSCRIPTION RIGHTS. The number of Common Shares that a Warrantholder may purchase upon the proper exercise of a Warrant, or the property that a Warrantholder may receive in lieu thereof, shall be subject to adjustment from time to time as set forth in this Article 4 with respect to any fact or event described herein occurring after the date hereof but prior to the Expiry Time. Notwithstanding anything contained in this Article 4, any adjustment made pursuant to any provision of this Article 4 shall be made without duplication of an adjustment otherwise required by and made pursuant to another provision of this Article 4 on account of the same facts or events.

ADJUSTMENT OF SUBSCRIPTION RIGHTS. The number of Common Shares to which the Warrantholders are entitled upon exercise of the Warrants shall be subject to adjustment from time to time as follows: 4.1.1 if and whenever at any time from the date hereof and prior to the Time of Expiry, the Company: (i) subdivides its outstanding Common Shares into a greater number of Common Shares; or (ii) consolidates its outstanding Common Shares into a smaller number of Common Shares; (iii) fix a record date for the issuance of Common Shares or securities convertible into Common Shares by way of stock dividend or other distribution (other than a distribution in the ordinary course); the number of Common Shares obtainable upon the exercise of each Warrant shall be adjusted, at no cost to any Warrantholder, immediately after the effective date of such subdivision or consolidation by multiplying the number of Common Shares theretofore obtainable on the exercise thereof by the fraction of which: - the numerator shall be the total number of Common Shares outstanding immediately after such date, and - the denominator shall be the total number of Common Shares outstanding immediately prior to such date, and such adjustment shall be made successively whenever any event referred to in this Subsection 4.1.1 shall occur (and all adjustments in this Subsection 4.1.1 are cumulative), any such issuance of Common Shares by way of stock dividend shall be deemed to have been made on the record date for such stock dividend;