Readjustment of Warrant Price. Upon the expiration of the right to convert or exchange any convertible securities, or upon the expiration of any rights, options or warrants, the issuance of which convertible securities, rights, options or warrants effected an adjustment in the Warrant Price, if any such convertible securities shall not have been converted or exchanged, or if any such rights, options or warrants shall not have been exercised, the number of shares of Capital Stock deemed to be issued and outstanding by reason of the fact that they were issuable upon conversion or exchange of any such convertible securities or upon exercise of any such rights, options, or warrants shall no longer be computed as set forth above, and the Warrant Price shall forthwith be readjusted and thereafter be the price which it would have been (but reflecting any other adjustments in the Warrant Price made pursuant to the provisions of this Section 6 after the issuance of such convertible securities, rights, options or warrants) had the adjustment of the Warrant Price made upon the issuance or sale of such convertible securities or issuance of rights, options or warrants been made on the basis of the issuance only of the number of Additional Shares of Capital Stock actually issued upon conversion or exchange of such convertible securities, or upon the exercise of such rights, options or warrants, and thereupon only the number of Additional Shares of Capital Stock actually so issued shall be deemed to have been issued and only the consideration actually received by the Company (computed as in subsection (h)(i) hereof) shall be deemed to have been received by the Company.
Appears in 2 contracts
Sources: Warrant Agreement (Annuity & Life Re Holdings LTD), Warrant Agreement (Annuity & Life Re Holdings LTD)
Readjustment of Warrant Price. Upon In the event the rate at which any Convertible Securities which are issued pursuant to Section 4(b)(i) above are convertible into or exchangeable for additional shares of Common Stock shall change, the Warrant Price and the number of shares of Common Stock for which this Warrant may be exercised in effect at the time of such event shall forthwith be readjusted to the Warrant Price and number of shares of Common Stock which would have been in effect at such time had such Convertible Securities provided for such conversion rate at the time initially issued. On the expiration of the any such Stock Purchase Rights not exercised or of any such right to convert or exchange under any convertible securitiessuch Convertible Securities not exercised, or upon the expiration of any rights, options or warrants, the issuance of which convertible securities, rights, options or warrants effected an adjustment in (i) the Warrant Price, if any such convertible securities Price then in effect hereunder shall not forthwith be increased to the Warrant Price which would have been converted in effect at the time of such expiration or exchangedtermination had such Stock Purchase Rights or Convertible Securities never been issued, or if any such rights, options or warrants shall not have been exercised, and (ii) the number of shares of Capital Common Stock deemed to for which this Warrant may be issued and outstanding by reason of the fact that they were issuable upon conversion or exchange of any such convertible securities or upon exercise of any such rights, options, or warrants shall no longer be computed as set forth above, and the Warrant Price exercised then in effect hereunder shall forthwith be readjusted and thereafter be decreased to the price number of shares of Common Stock which it would have been (but reflecting any other adjustments in effect at the Warrant Price made pursuant to the provisions of this Section 6 after the issuance time of such convertible securities, rights, options expiration or warrants) termination had the adjustment such Stock Purchase Rights or Convertible Securities never been issued. No readjustment of the Warrant Price made upon pursuant to this Subsection (c) shall have the issuance or sale effect of such convertible securities or issuance of rights, options or warrants been made on increasing the basis Warrant Price by an amount in excess of the issuance only adjustment originally made to the Warrant Price in respect of the number issue, sale or grant of Additional Shares of Capital the applicable Stock actually issued upon conversion Purchase Rights or exchange of such convertible securities, or upon the exercise of such rights, options or warrants, and thereupon only the number of Additional Shares of Capital Stock actually so issued shall be deemed to have been issued and only the consideration actually received by the Company (computed as in subsection (h)(i) hereof) shall be deemed to have been received by the CompanyConvertible Securities.
Appears in 2 contracts
Sources: Note and Warrant Purchase Agreement (Furman Selz Sbic L P), Warrant Agreement (Furman Selz Sbic L P)
Readjustment of Warrant Price. Upon Subject to the provisions of the second sentence of this paragraph E(2), upon the expiration of the right to convert or exchange any convertible securitiesConvertible Securities, or upon the expiration of any rights, options or warrants, or upon any increase in the minimum consideration receivable by the Company for the issuance of which convertible securitiesAdditional Shares of Common Stock pursuant to such Convertible Securities, rights, options or warrants effected an adjustment in the Warrant Pricewarrants, if any such convertible securities Convertible Securities shall not have been converted or exchanged, or if any such rights, options or warrants shall not have been exercised, the number of shares of Capital Common Stock deemed to be issued and outstanding by reason of the fact that they were issuable upon conversion or exchange of any such convertible securities Convertible Securities or upon exercise of any such rights, options, options or warrants shall no longer be computed as set forth above, and the Warrant Price shall forthwith be readjusted and thereafter be the price which it would have been (but reflecting any other adjustments in the Warrant Price made pursuant to the provisions of this Section 6 SS.3 after the thE issuance of such convertible securitiesConvertible Securities, rights, options or warrants) had the adjustment of the Warrant Price made upon the issuance or sale of such convertible securities Convertible Securities or the issuance of such rights, options or warrants been made on the basis of the issuance only of the number of Additional Shares of Capital Common Stock actually issued upon conversion or exchange of such convertible securities, Convertible Securities or upon the exercise of such rights, options or warrants, or upon the basis of such increased minimum consideration, as the case may be, and thereupon only the number of Additional Shares of Capital Common Stock actually so issued or the number thereof issuable upon the basis of such increased minimum consideration shall be deemed to have been issued and only the consideration actually received or such increased minimum consideration receivable by the Company (computed as provided in subsection (h)(isubparagraph E(1) hereofof this SS.3) shall be deemed to have been beeN received by the Company. No such readjustment of the Warrant Price shall be made unless the Warrant Price was adjusted under the provisions of paragraph C above at the time such rights, options or warrants were issued.
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Readjustment of Warrant Price. Upon Subject to the provisions of the second sentence of this paragraph E(2), upon the expiration of the right to convert or exchange any convertible securitiesConvertible Securities, or upon the expiration of any rights, options or warrants, or upon any increase in the minimum consideration receivable by the Company for the issuance of which convertible securitiesAdditional Shares of Common Stock pursuant to such Convertible Securities, rights, options or warrants effected an adjustment in the Warrant Pricewarrants, if any such convertible securities Convertible Securities shall not have been converted or exchanged, or if any such rights, options or warrants shall not have been exercised, the number of shares of Capital Common Stock deemed to be issued and outstanding by reason of the fact that they were issuable upon conversion or exchange of any such convertible securities Convertible Securities or upon exercise of any such rights, options, options or warrants shall no longer be computed as set forth above, and the Warrant Price shall forthwith be readjusted and thereafter be the price which it would have been (but reflecting any other adjustments in the Warrant Price made pursuant to the provisions of this Section 6 SS.3 after the issuance of such convertible securitiesConvertible Securities, rights, options or warrants) had the adjustment of the Warrant Price made upon the issuance or sale of such convertible securities Convertible Securities or the issuance of such rights, options or warrants been made on the basis of the issuance only of the number of Additional Shares of Capital Common Stock actually issued upon conversion or exchange of such convertible securities, Convertible Securities or upon the exercise of such rights, options or warrants, or upon the basis of such increased minimum consideration, as the case may be, and thereupon only the number of Additional Shares of Capital Common Stock actually so issued or the number thereof issuable upon the basis of such increased minimum consideration shall be deemed to have been issued and only the consideration actually received or such increased minimum consideration receivable by the Company (computed as provided in subsection (h)(isubparagraph E(1) hereofof this SS.3) shall be deemed to have been received by the Company. No such readjustment of the Warrant Price shall be made unless the Warrant Price was adjusted under the provisions of paragraph C above at the time such rights, options or warrants were issued.
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