Common use of Preservation of Purchase Rights in Certain Transactions Clause in Contracts

Preservation of Purchase Rights in Certain Transactions. In case of any consolidation of the Company with or merger of the Company into another corporation or in case of any sale or conveyance to another corporation of the property of the Company as an entirety or substantially as an entirety, then adequate provision will be made whereby the Warrantholder shall have the right thereafter upon payment of the Warrant Price in effect immediately prior to such action to purchase upon exercise of the Warrant the kind and amount of shares and other securities and property which the Warrantholder would have owned or have been entitled to receive after the happening of such consolidation, merger, sale or conveyance had the Warrant been exercised immediately prior to such action. The provisions of this Section 2 shall similarly apply to successive consolidations, mergers, sales or conveyances.