Common use of When Issuance or Payment May Be Deferred Clause in Contracts

When Issuance or Payment May Be Deferred. In any case in which this Section 8 shall require that an adjustment in the Exercise Rate be made effective as of a record date for a specified event, the Company may elect to defer until the occurrence of such event (i) issuing to the holder of any Warrant exercised after such record date the Warrant Shares and other interests in the Company, if any, issuable upon such exercise over and above the