Adjustments for Reorganization, Merger, Consolidation or Sales of Assets. If at any time or from time to time after the Issuance Date there shall be a capital reorganization of the Maker (other than by way of a stock split or combination of shares or stock dividends or distributions provided for in Section 3.6(a)(i), (ii) and (iii), or a reclassification, exchange or substitution of shares provided for in Section 3.6(a)(iv)), or a merger or consolidation of the Maker with or into another corporation, or the sale of all or substantially all of the Maker's properties or assets to any other person (an "Organic Change"), then as a part of such Organic Change an appropriate revision to the Conversion Price shall be made and provision shall be made (by adjustments of the Conversion Price or otherwise) so that the holder of each Note shall have the right thereafter to convert such Note into the kind and amount of shares of stock and other securities or property of the Maker or any successor corporation resulting from Organic Change. In any such case, appropriate adjustment shall be made in the application of the provisions of this Section 3.6(a)(v) with respect to the rights of the holder of the Notes after the Organic Change to the end that the provisions of this Section 3.6(a)(v) (including any adjustment in the applicable Conversion Price then in effect and the number of shares of stock or other securities deliverable upon conversion of the Notes) shall be applied after that event in as nearly an equivalent manner as may be practicable.
Appears in 2 contracts
Samples: Secured Convertible Promissory Note (Armitec Inc), Secured Convertible Promissory Note (Armitec Inc)
Adjustments for Reorganization, Merger, Consolidation or Sales of Assets. If at any time or from time to time after the Issuance Initial Exercise Date there shall be a capital reorganization of the Maker Company (other than by way of a stock split or combination of shares or stock dividends or distributions provided for in Section 3.6(a)(i3(a), (ii) and (iiiSection 3(b), or a reclassification, exchange or substitution of shares provided for in Section 3.6(a)(iv3(c)), or a merger or consolidation of the Maker Company with or into another corporation, or the sale of all or substantially all of the Maker's Company’s properties or assets to any other person (an "“Organic Change"”), then as a part of such Organic Change an appropriate revision to the Conversion Exercise Price shall be made if necessary and provision shall be made if necessary (by adjustments of the Conversion Exercise Price or otherwise) so that that, upon any subsequent exercise of this Warrant, the holder of each Note Holder shall have the right thereafter to convert such Note into receive, in lieu of Warrant Stock, the kind and amount of shares of stock and other securities or property of the Maker Company or any successor corporation resulting from the Organic Change. In any such case, appropriate adjustment shall be made in the application of the provisions of this Section 3.6(a)(v3(d) with respect to the rights of the holder of the Notes Holder after the Organic Change to the end that the provisions of this Section 3.6(a)(v3(d) (including any adjustment in the applicable Conversion Exercise Price then in effect and the number of shares of stock or other securities deliverable upon conversion exercise of the Notesthis Warrant) shall be applied after that event in as nearly an equivalent manner as may be practicable.
Appears in 2 contracts
Samples: Common Stock Purchase Warrant (Fluoropharma Medical, Inc.), Common Stock Purchase Warrant (Fluoropharma Medical, Inc.)
Adjustments for Reorganization, Merger, Consolidation or Sales of Assets. If at any time or from time to time after the Issuance Date there shall be a capital reorganization of the Maker (other than by way of a stock split or combination of shares or stock dividends or distributions provided for in Section 3.6(a)(i), (ii) and (iii), or a reclassification, exchange or substitution of shares provided for in Section 3.6(a)(iv)), or a merger or consolidation of the Maker with or into another corporation, or the sale of all or substantially all of the Maker's properties or assets to any other person (an "Organic Change"), then as a part of such Organic Change an appropriate revision to the Conversion Price shall be made and provision shall be made (by adjustments of the Conversion Price or otherwise) so that the holder of each Note shall have the right thereafter to convert such Note into the kind and amount of shares of stock and other securities or property of the Maker or any successor corporation resulting from Organic Change. In any such case, appropriate adjustment shall be made in the application of the provisions of this Section 3.6(a)(v) with respect to the rights of the holder holders of the Notes after the Organic Change to the end that the provisions of this Section 3.6(a)(v) (including any adjustment in the applicable Conversion Price then in effect and the number of shares of stock or other securities deliverable upon conversion of the Notes) shall be applied after that event in as nearly an equivalent manner as may be practicable.
Appears in 1 contract
Samples: Senior Secured Convertible Promissory Note (Vertel Corp)
