Exchange Price Adjustments of Preferred Stock for Splits and Combinations. The Exchange Price of the Series A Preferred Stock shall be subject to adjustment from time to time as follows: In the event THCR should at any time or from time to time after the date or dates upon which any shares of Series A Preferred Stock were first issued (a “Purchase Date”) fix a record date for the effectuation of a split or subdivision of the outstanding shares of Common Stock or the determination of holders of Common Stock entitled to receive a dividend or other distribution payable in additional shares of Common Stock or other securities or rights convertible into, or entitling the holder thereof to receive directly or indirectly, additional shares of Common Stock (hereinafter referred to as “Common Stock Equivalents”) without payment of any consideration by such holder for the additional shares of Common Stock or the Common Stock Equivalents (including the additional shares of Common Stock issuable upon exchange or exercise thereof), then, as of such record date (or the date of such dividend distribution, split or subdivision if no record date is fixed), the Exchange Price of the Series A Preferred Stock shall be appropriately decreased so that the number of shares of Common Stock issuable on exchange of each share shall be increased in proportion to such increase of the aggregate of shares of Common Stock outstanding and those issuable with respect to such Common Stock Equivalents. If the number of shares of Common Stock outstanding at any time after a Purchase Date is decreased by a combination of the outstanding shares of Common Stock, then, following the record date of such combination, the Exchange Prices for the Series A Preferred Stock shall be appropriately increased so that the number of shares of Common Stock issuable on exchange of each share of each such series shall be decreased in proportion to such decrease in outstanding shares.
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Sources: Note Purchase Agreement (Trump Hotels & Casino Resorts Inc)
Exchange Price Adjustments of Preferred Stock for Splits and Combinations. The Exchange Price of the Series A Preferred Stock shall be subject to adjustment from time to time as follows: In the event THCR should at any time or from time to time after the date or dates upon which any shares of Series A Preferred Stock were first issued (a “"Purchase Date”") fix a record date for the effectuation of a split or subdivision of the outstanding shares of Common Stock or the determination of holders of Common Stock entitled to receive a dividend or other distribution payable in additional shares of Common Stock or other securities or rights convertible into, or entitling the holder thereof to receive directly or indirectly, additional shares of Common Stock (hereinafter referred to as “"Common Stock Equivalents”") without payment of any consideration by such holder for the additional shares of Common Stock or the Common Stock Equivalents (including the additional shares of Common Stock issuable upon exchange or exercise thereof), then, as of such record date (or the date of such dividend distribution, split or subdivision if no record date is fixed), the Exchange Price of the Series A Preferred Stock shall be appropriately decreased so that the number of shares of Common Stock issuable on exchange of each share shall be increased in proportion to such increase of the aggregate of shares of Common Stock outstanding and those issuable with respect to such Common Stock Equivalents. If the number of shares of Common Stock outstanding at any time after a Purchase Date is decreased by a combination of the outstanding shares of Common Stock, then, following the record date of such combination, the Exchange Prices for the Series A Preferred Stock shall be appropriately increased so that the number of shares of Common Stock issuable on exchange of each share of each such series shall be decreased in proportion to such decrease in outstanding shares.
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