Antidilution Protection. The Percentage represented by the Issued Units shall not be diluted below 3% with respect to: (a) any issuance of Units by the Company to the person hired to serve as the chief financial officer of the Company; (b) any issuance of Units by the Company to the person hired to serve as president of The Ultimate Band List, LLC (the "UBL"); or (c) the first Five Million Dollars ($5,000,000) of additional capital contributions made following the Effective Date to the Company or any of its subsidiaries, including, without limitation, the UBL; provided that such additional capital contributions (other than by Intel Corporation) are made either (i) based upon a valuation of the applicable entity that is no less than the valuation upon which any prior capital contribution was made, or (ii) pursuant to the exercise of an option or warrant the exercise price of which on the date of grant was not based upon a valuation of the applicable entity that was less than the valuation upon which any capital contribution prior to the date of the grant was made.
Appears in 2 contracts
Samples: Issuance Agreement (Artistdirect Inc), Issuance Agreement (Artistdirect Inc)
Antidilution Protection. The Percentage represented by the Issued Units shall not be diluted below 310% with respect to: (a) any issuance of Units by the Company to the person hired to serve as the chief financial officer of the Company; (b) any issuance of Units by the Company to the person hired to serve as president of The Ultimate Band List, LLC (the "UBL"); or (c) the first Five Million Dollars ($5,000,000) of additional capital contributions made following the Effective Date to the Company or any of its subsidiaries, including, without limitation, the UBL; provided that such additional capital contributions (other than by Intel Corporation) are made either (i) based upon a valuation of the applicable entity that is no less than the valuation upon which any prior capital contribution was made, or (ii) pursuant to the exercise of an option or warrant the exercise price of which on the date of grant was not based upon a valuation of the applicable entity that was less than the valuation upon which any capital contribution prior to the date of the grant was made.. 2
Appears in 2 contracts
Samples: Noncompetition and Nonsolicitation Agreement (Artistdirect Inc), Noncompetition and Nonsolicitation Agreement (Artistdirect Inc)
