Common use of Adjustments for Issuance of Convertible Securities Clause in Contracts

Adjustments for Issuance of Convertible Securities. In case the Company shall distribute to all holders of its Ordinary Shares or shall in any manner (whether directly or by assumption in a merger in which the Company is the surviving corporation) issue or sell any Convertible Securities, whether or not the rights to exchange or convert thereunder are immediately exercisable, and the price per share for which Ordinary Shares are issuable upon such conversion or exchange, plus the price paid to the Company to acquire such Convertible Security, shall be less than the market price per Ordinary Share (as defined in Section 5(f)), in effect immediately prior to the time of such distribution, issue or sale, then the number of Ordinary Shares purchasable upon the exercise of each Warrant evidenced hereby shall be adjusted as provided in Section 5(c) on the basis that (i) the maximum number of Ordinary Shares necessary to effect the conversion or exchange of all such Convertible Securities shall be deemed to be issued and outstanding, (ii) the price per share of such Ordinary Shares shall be deemed to be the lowest possible price in any range of prices at which such Ordinary Shares are available to such holders, and (iii) the Company shall have received all of the consideration payable therefor, if any, as of the date of actual issu-