Adjustment for Merger, Consolidation or Sale of Assets. In the event that the Maker shall merge or consolidate with or into another entity or sell all or substantially all of its assets, this Note shall thereafter be convertible for the kind and amount of shares of stock or other securities or property to which a Payee of the number of shares of Common Stock of the Maker deliverable upon conversion of this Note would have been entitled upon such consolidation, merger or sale; and, in such case, appropriate adjustment (as determined in good faith by the Maker's Board of Directors) shall be made in the application of the provisions set forth in this Section 4 with respect to the rights and interest thereafter of the Payee of this Note, to the end that the provisions set forth in this Section 4 shall thereafter be applicable, as nearly as reasonably may be, in relation to any shares of stock or other property thereafter deliverable upon the conversion of this Note.
Appears in 13 contracts
Samples: Convertible Promissory Note (Global Matrechs, Inc.), Secured Convertible Promissory Note (Global Matrechs, Inc.), Convertible Promissory Note (Global Matrechs, Inc.)
Adjustment for Merger, Consolidation or Sale of Assets. In the event that the Maker Company shall merge or consolidate with or into another entity or sell all or substantially all of its assets, this Note Warrant shall thereafter be convertible exercisable for the kind and amount of shares of stock or other securities or property to which a Payee holder of the number of shares of Common Stock of the Maker Company deliverable upon conversion exercise of this Note Warrant would have been entitled upon such consolidation, merger or sale; and, in such case, appropriate adjustment (as determined in good faith by the Maker's Company’s Board of Directors) shall be made in the application of the provisions set forth in this Section 4 6 with respect to the rights and interest thereafter of the Payee Holder of this NoteWarrant, to the end that the provisions set forth in this Section 4 6 shall thereafter be applicable, as nearly as reasonably may be, in relation to any shares of stock or other property thereafter deliverable upon the conversion exercise of this NoteWarrant.
Appears in 2 contracts
Samples: Convertible Security Agreement (Teton Energy Corp), Consulting Agreement (Aftersoft Group)
Adjustment for Merger, Consolidation or Sale of Assets. In the event that the Maker shall merge or consolidate with or into another entity or sell all or substantially all of its assets, this Note shall thereafter be convertible for the kind and amount of shares of stock or other securities or property to which a Payee of the number of shares of Common Stock of the Maker deliverable upon conversion of this Note would have been entitled upon such consolidation, merger or sale; and, in such case, appropriate adjustment (as determined in good faith by the Maker's ’s Board of Directors) shall be made in the application of the provisions set forth in this Section 4 with respect to the rights and interest thereafter of the Payee of this Note, to the end that the provisions set forth in this Section 4 shall thereafter be applicable, as nearly as reasonably may be, in relation to any shares of stock or other property thereafter deliverable upon the conversion of this Note.
Appears in 2 contracts
Samples: Secured Convertible Promissory Note (Global Matrechs, Inc.), Secured Convertible Promissory Note (Global Matrechs, Inc.)
