Certificates for Unexercised Warrants. In the event that fewer than all of the Warrants represented by a Warrant Certificate are exercised, the Company shall execute and deliver by recognized overnight courier, within 10 days of the Date of Exercise, to the registered holder of such Warrant Certificate, or such other person as shall be designated in the election to purchase (subject to compliance with applicable securities laws), a new Warrant Certificate representing the number of full Warrants not exercised. In no event shall the Warrant be exercised with respect to less than an integral number of shares of Common Stock, and the Company shall distribute no Warrant Certificates representing Warrants exercisable for fractional shares of Common Stock under this or any other section of this Agreement. Fractions of shares shall be treated as provided in Section 3.10.
Appears in 3 contracts
Sources: Stock Purchase Agreement (Paxar Corp), Warrant Agreement (Paxar Corp), Warrant Agreement (Paxar Corp)