Adjustments of Conversion Price. The Conversion Price in effect from time to time shall be, subject to adjustment in accordance with the provisions of this Section 4(c).
Adjustments of Conversion Price. The Conversion Price of the Series A Preferred Stock shall be subject to adjustment from time to time as follows provided, however, that no adjustment of the Conversion Price for Series A Preferred Stock shall be made in an amount less than one-half of one cent ($0.005) per share, provided, that any adjustments that are less than less than one-half of one cent ($0.005) per share shall be carried forward and shall be taken into account in any subsequent adjustment to the Conversion Price:
(A) Upon each issuance (or deemed issuance pursuant to the provisions hereof) by the Corporation of any Additional Stock after the date of issuance of Series A Preferred Stock, the Conversion Price for the Series A Preferred Stock in effect immediately prior to each issuance (or deemed issuance) shall be adjusted to a price determined by multiplying such Conversion Price by a fraction, (1) the numerator of which shall be the number of Common Stock Equivalents (as defined in Paragraph II) outstanding immediately prior to such issuance plus the number of shares of Common Stock which the aggregate consideration received (or deemed received) by the Corporation for such issuance would purchase at such Conversion Price; and (2) the denominator of which shall be the number of Common Stock Equivalents outstanding immediately after such issuance.
(B) In the case of the issuance of securities of the Corporation for cash, the amount of consideration received by the Corporation for such securities shall be deemed to be the amount of cash paid therefor before deducting any discounts, commissions or other expenses allowed, paid or incurred by the Corporation for any underwriting or otherwise in connection with the issuance and sale thereof.
(C) In the case of the issuance of securities of the Corporation for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to have a dollar value equal to the fair market value of such non-cash consideration, irrespective of any accounting treatment thereof, as determined by a majority of the Board of Directors (including a majority of the Common Stock Directors), or, in the alternative, a qualified independent appraiser selected by the Board of Directors.
(D) In the case of the issuance after the date of issuance of Series A Preferred Stock of Options or Convertible Securities (as such terms are defined in paragraph (B)), the following provisions shall apply for all purposes of this Paragraph I(5)(c)(...
Adjustments of Conversion Price. As set forth in Schedule 2 hereto, which shall be for all purposes an integral part of this Note, the Conversion Price shall be adjusted from time to time upon the occurrence of certain events.
Adjustments of Conversion Price. The Conversion Price shall be subject to adjustment from time to time as follows:
(a) if and whenever at any time prior to the Conversion Date the Corporation shall (i) subdivide or re-divide the outstanding Common Shares into a greater number of shares; (ii) reduce, combine or consolidate the outstanding Common Shares into a smaller number of shares; or (iii) issue Common Shares to the holders of all or substantially all of the outstanding Common Shares by way of a stock dividend (other than the issue of Common Shares to holders of Common Shares who have elected to receive dividends in the form of Common Shares in lieu of dividends paid in the ordinary course on the Common Shares) (any of such events herein called a "Common Share Reorganization"), the Conversion Price in effect on the effective date of such subdivision, re-division, reduction, combination or consolidation or on the record date for such issue of Common Shares by way of a stock dividend, as the case may be, shall in the case of any of the events referred to in (i) and
Adjustments of Conversion Price. The Conversion Price shall be subject to adjustment from time to time as follows:
(a) if and whenever at any time prior to the Conversion Date the Corporation shall (i) subdivide or re-divide the outstanding Common Shares into a greater number of shares; (ii) reduce, combine or consolidate the outstanding Common Shares into a smaller number of shares; or (iii) issue Common Shares to the holders of all or substantially all of the outstanding Common Shares by way of a stock dividend (other than the issue of Common Shares to holders of Common Shares who have elected to receive dividends in the form of Common Shares in lieu of dividends paid in the ordinary course on the Common Shares), the Conversion Price in effect on the effective date of such subdivision, re-division, reduction, combination or consolidation or on the record date for such issue of Common Shares by way of a stock dividend, as the case may be, shall in the case of any of the events referred to in (i) and (iii) above be decreased in proportion to the number of outstanding Common Shares resulting from such subdivision, redivision or dividend, or shall, in the case of any of the events referred to in (ii) above, be increased in proportion to the number of outstanding Common Shares resulting from such reduction, combination or consolidation. Such adjustment shall be made successively whenever any event referred to in this Section
Adjustments of Conversion Price. The Conversion Price shall be subject to adjustment from time to time only as follows:
Adjustments of Conversion Price. The Conversion Price of the Series A --- ------------------------------- Preferred Stock shall be subject to adjustment from time to time as follows:
Adjustments of Conversion Price. In the case the Company shall pay or make a dividend or other distribution on any class of capital stock of the Company in Common Stock after the issuance of a Debt Security entitled to exercise the conversion privilege, the conversion price of such Debt Security in effect at the opening of business on the day following the date fixed for the determination of stockholders entitled to receive such dividend or other distribution shall be reduced by multiplying such conversion price by a fraction of which the numerator shall be the number of shares of Common Stock outstanding at the close of business on the date fixed for such determination and the denominator shall be the sum of such number of shares and the total number of shares constituting such dividend or other distribution, such reduction to become effective immediately after the opening of business on the day following the date fixed for such determination. For the purposes of this paragraph (1), the number of shares of Common Stock at any time outstanding shall include shares issuable in respect of scrip certificates issued in lieu of fractions of shares of Common Stock.
Adjustments of Conversion Price. The Conversion Price and the number of shares deliverable hereunder shall be adjusted from time to time as hereinafter set forth.
Adjustments of Conversion Price
