Common use of Adjustment for Share Splits and Combinations Clause in Contracts

Adjustment for Share Splits and Combinations. If the LLC shall at any time or from time to time after the Series B Original Issue Date effect a subdivision of the outstanding Common Shares, the Conversion Price in effect immediately before that subdivision shall be proportionately decreased so that the number of Common Shares issuable on conversion of each Preferred Share shall be increased in proportion to such increase in the aggregate number of Common Shares outstanding. If the LLC shall at any time or from time to time after the Series B Original Issue Date combine the outstanding Common Shares, the Conversion Price in effect immediately before the combination shall be proportionately increased so that the number of Common Shares issuable on conversion of each Preferred Share shall be decreased in proportion to such decrease in the aggregate number of Common Shares outstanding. Any adjustment under this subsection shall become effective at the close of business on the date the subdivision or combination becomes effective.

Appears in 2 contracts

Samples: Operating Agreement (Day One Biopharmaceuticals Holding Co LLC), Operating Agreement (Day One Biopharmaceuticals Holding Co LLC)

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Adjustment for Share Splits and Combinations. If the LLC shall Company, at any time or from time to time after the Series B Class Seed Preferred Share Original Issue Date effect a subdivision of Date, subdivides the outstanding Common Sharesshares, the Conversion Price in effect immediately before that the subdivision shall be proportionately decreased so that the number of Common Shares shares issuable on conversion of each Preferred Share shall share of such class be increased in proportion to such increase in the aggregate number of Common Shares shares outstanding. If the LLC shall Company, at any time or from time to time after the Series B Class Seed Preferred Share Original Issue Date combine Date, combines the outstanding Common Sharesshares, the Conversion Price in effect immediately before the combination shall be proportionately increased so that the number of Common Shares shares issuable on conversion of each Preferred Share shall share of such class be decreased in proportion to such decrease in the aggregate number of Common Shares shares outstanding. Any adjustment under this subsection shall become effective at the close of business on the date the subdivision or combination becomes effective.

Appears in 1 contract

Samples: Registration Rights Agreement (Mechanical Technology Inc)

Adjustment for Share Splits and Combinations. If the LLC Company shall at any time or from time to time after the Series B Bond Original Issue Date effect a subdivision of the outstanding Common Ordinary Shares, the Conversion Price in effect immediately before that subdivision shall be proportionately decreased so that the number of Common Ordinary Shares issuable on conversion of each Preferred Share Bonds shall be increased in proportion to such increase in the aggregate number of Common Ordinary Shares outstanding. If the LLC Company shall at any time or from time to time after the Series B Bond Original Issue Date combine the outstanding Common Ordinary Shares, the Conversion Price in effect immediately before the combination shall be proportionately increased so that the number of Common Ordinary Shares issuable on conversion of each Preferred Share Bonds shall be decreased in proportion to such decrease in the aggregate number of Common Ordinary Shares outstanding. Any adjustment under this subsection shall become effective at the close of business on the date the subdivision or combination becomes effective.

Appears in 1 contract

Samples: Investment Agreement (Lombard Medical, Inc.)

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Adjustment for Share Splits and Combinations. If the LLC shall Company, at any time or from time to time after the Series B Preferred Share Original Issue Date effect a subdivision of Date, subdivides the outstanding Common Sharesshares, the Conversion Price in effect immediately before that the subdivision shall be proportionately decreased so that the number of Common Shares shares issuable on conversion of each Preferred Share shall share of such class be increased in proportion to such increase in the aggregate number of Common Shares shares outstanding. If the LLC shall Company, at any time or from time to time after the Series B Preferred Share Original Issue Date combine Date, combines the outstanding Common Sharesshares, the Conversion Price in effect immediately before the combination shall be proportionately increased so that the number of Common Shares shares issuable on conversion of each Preferred Share shall share of such class be decreased in proportion to such decrease in the aggregate number of Common Shares shares outstanding. Any adjustment under this subsection shall become effective at the close of business on the date the subdivision or combination becomes effective.

Appears in 1 contract

Samples: Registration Rights Agreement (Mechanical Technology Inc)

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