Common use of Rights and Warrants Clause in Contracts

Rights and Warrants. If Xpedior, at any time while the Convertible Note or any shares of Series A Preferred Stock are outstanding, shall issue any rights and/or warrants to all of the holders of Common Stock as a class entitling them to subscribe for or purchase shares of Common Stock, then PSINet shall receive an amount of such rights and/or warrants equal to the number of rights and/or warrants it would have received, at the time of issuance of such rights and/or warrants, if it had then converted the Convertible Note and all of its shares of Series A Preferred Stock and if all dividends due but not yet paid on the Preferred Stock had been paid in shares of Common Stock.

Rights and Warrants. If Xpedior, at any time while the Convertible Note or any shares of Series A B Preferred Stock are outstanding, shall issue any rights and/or warrants to all of the holders of Common Stock as a class entitling them to subscribe for or purchase shares of Common Stock, then PSINet shall receive an amount of such rights and/or warrants equal to the number of rights and/or warrants it would have received, at the time of issuance of such rights and/or warrants, if it had then converted the Convertible Note and all of its shares of Series A B Preferred Stock and if all dividends due but not yet paid on the Series B Preferred Stock had been paid in shares of Common Stock.