Common use of Exchange Basis Clause in Contracts

Exchange Basis. Each of Aris Holdings, as successor to the Corporation, Aris and the Warrant Agent hereby acknowledge and agree that, as and from the date hereof, in accordance with the terms of the Indenture and as a result of the Plan of Arrangement, any Warrantholder who exercises a Warrant shall be entitled to receive, and shall accept in lieu of each Corporation Share to which such holder was previously entitled and for the same consideration (which for clarity is agreed to be the Exercise Price), the Aris Share Consideration (which for clarity is agreed to be 0.5 of one Aris Share), subject to adjustment in accordance with the terms of the Indenture.