Common use of Adjustments for Reclassification and Reorganization Clause in Contracts

Adjustments for Reclassification and Reorganization. If the Common Stock issuable upon conversion of Series D Preferred Stock shall be changed into the same or a different number of shares of any other class or classes of shares, whether by capital reorganization, reclassification or otherwise (other than a subdivision or combination of shares provided for in Section 4(e) above or a merger or other reorganization referred to in Section 3 (c) above), the Series D Conversion Price than in affect shall, concurrently with the effectiveness of such reorganization or reclassification, be proportionately adjusted so that the Series D Preferred shall be convertible into, in lieu of the number of shares of Common Stock which the holders would otherwise have been entitled to receive, a number of shares of such other class or classes of stock equivalent to the number of shares of Common Stock that would have been subject to receipt by the holders upon conversion of the Series D Preferred Stock immediately before that change.

Appears in 2 contracts

Samples: Convertible Debenture Purchase Agreement (Air South Airlines Inc), Convertible Debenture Purchase Agreement (Air South Airlines Inc)

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Adjustments for Reclassification and Reorganization. If the Common --------------------------------------------------- Stock issuable upon conversion of the Series D A Preferred Stock shall be changed into the same or a different number of shares of any other class or classes of sharesstock, whether by capital reorganization, reclassification or otherwise (other than a subdivision or combination of shares provided for in Section 4(eC.3(e) above or a merger or other reorganization referred to in that is considered a deemed liquidation event under Section 3 (c) aboveC.2(c)), the Series D Conversion Price than then in affect effect shall, concurrently with the effectiveness of such reorganization or reclassification, be proportionately adjusted so that the Series D A Preferred Stock shall be convertible into, in lieu of the number of shares of Common Stock which the holders would otherwise have been entitled to receive, a number of shares of such other class or classes of stock equivalent to the number of shares of Common Stock that would have been subject to receipt by the holders upon conversion of the Series D A Preferred Stock immediately before that change.

Appears in 1 contract

Samples: Preferred Stock Purchase Agreement (Encore Medical Corp)

Adjustments for Reclassification and Reorganization. If the Common Stock issuable upon conversion of Series D Preferred Stock shall be changed into the same or a different number of shares of any other class or classes of shares, whether by capital reorganization, reclassification or otherwise (other than a subdivision or combination of shares provided for in Section 4(e) above or a merger or other reorganization referred to in Section 3 (c3(c) above), the Series D Conversion Price than in affect shall, concurrently with the effectiveness of such reorganization or reclassification, be proportionately adjusted so that the Series D Preferred shall be convertible into, in lieu of the number of shares of Common Stock which the holders would otherwise have been entitled to receive, a number of shares of such other class or classes of stock equivalent to the number of shares of Common Stock that would have been subject to receipt by the holders upon conversion of the Series D Preferred Stock immediately before that change.

Appears in 1 contract

Samples: Convertible Debenture Purchase Agreement (Air South Airlines Inc)

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Adjustments for Reclassification and Reorganization. If the Common Stock issuable upon conversion of Series D E Preferred Stock shall be changed into the same or a different number of shares of any other class or classes of shares, whether by capital reorganization, reclassification or otherwise (other than a subdivision or combination of shares provided for in Section 4(e) above or a merger or other reorganization referred to in Section 3 (c) above), the Series D E Conversion Price than in affect shall, concurrently with the effectiveness of such reorganization or reclassification, be proportionately adjusted so that the Series D E Preferred shall be convertible into, in lieu of the number of shares of of. Common Stock which the holders would otherwise have been entitled to receive, a number of shares shares. of such other class or classes of stock equivalent to the number of shares of Common Stock that would have been subject to receipt by the holders upon conversion of the Series D E Preferred Stock immediately before that change.

Appears in 1 contract

Samples: Convertible Debenture Purchase Agreement (Air South Airlines Inc)

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