Calculation of Shares. Each Eligible Investor may purchase all or any part of that number of Founder Shares equal to the number obtained by multiplying (i) the aggregate number of Founders Shares covered by the Purchase Offer by (ii) a fraction, the numerator of which is the number of shares of Common Stock of the Company at the time owned by such Eligible Investor and the denominator of which is the number of shares of Common Stock of the Company then outstanding. For the purposes of the foregoing calculations, all outstanding options and warrants shall be deemed to be exercised and all Preferred Stock shall be deemed to have been converted into Common Stock at the prevailing conversion rate.
Calculation of Shares. Each Investor may sell all or any --------------------- part of that number of shares of Common Stock of the Company issued or issuable upon conversion of Preferred Stock or Common Stock received in connection with any stock dividend, stock split or other reclassification thereof (the "Conversion Shares") equal to the product obtained by multiplying (x) the ----------------- aggregate number of shares of Common Stock covered by the Purchase Offer by (y) a fraction, the numerator of which is the number of Conversion Shares at the time owned by such Investor and the denominator of which is the combined number of shares of Common Stock of the Company at the time owned by all Investors and all Founders participating in such sale, including shares transferred by such Founder to Permitted Transferees (as hereinafter defined) in accordance herewith. The provisions of this Agreement do not confer any Co-Sale rights with respect to any shares of Common Stock or other securities held by an Investor that are not Conversion Shares.
Calculation of Shares. Each Selling Holder may sell all or any part of that number of its Equity Securities equal to the product obtained by multiplying (A) the aggregate number of Shares covered by the Purchase Offer by (B) a fraction, the numerator of which is the number of Equity Securities at the time owned by such Selling Holder and the denominator of which is the sum of (x) the total number of Equity Securities at the time owned by all Major Investors participating in such sale plus (y) the total number of Equity Securities at the time owned by such Founder, including without limitation shares that have been transferred by such Founder to Permitted Transferees (as defined below) in accordance with this Agreement.
Calculation of Shares. Each Participating Holder or New Holder may sell all or any part of that number of shares of Common Stock issued or then issuable upon conversion of the then-outstanding shares of the Preferred Stock (“Conversion Stock”), Common Stock received in connection with any stock dividend, stock split or other reclassification thereof, or Common Stock otherwise issued by the Company and held by the Participating Holder or New Holder (together with the Conversion Stock and Common Stock received in connection with any stock dividend, stock split or other reclassification, “Co-Sale Eligible Stock”) equal to the product obtained by multiplying (i) the aggregate number of Management Offered Shares covered by the Purchase Offer by (ii) a fraction, the numerator of which is the number of shares of Co-Sale Eligible Stock at the time owned by such Participating Holder or New Holder and the denominator of which is the sum of (A) the total number of shares of Co-Sale Eligible Stock at the time owned by all Participating Holders and New Holders participating in such sale plus (B) the total number of Management Offered Shares at the time owned by the selling Management Stockholder.
Calculation of Shares. The number of shares of Innovate Preferred Stock calculated based on the definitions in this Section 1.5 are calculated on an as-converted to Innovate Common Stock basis. If the Innovate stockholders duly approve the Preferred Stock Conversion Proposal prior to the Effective Time, then rather than issue any Innovate Preferred Stock pursuant to this Agreement, Innovate instead shall issue Innovate Common Stock (subject in all respects to the terms of this Agreement).”
Calculation of Shares. Each Major Investor may sell all or any part of that number of shares of stock (including Preferred Stock, Common Stock and Common Stock issuable upon conversion of Preferred Stock or any stock received in connection with any stock dividend, stock split or other reclassification of any such stock) (the “Conversion Shares”) equal to the product obtained by multiplying (i) the aggregate number of Shares covered by the Sale Notice by (ii) a fraction, the numerator of which is the number of Conversion Shares at the time owned by such Major Investor and the denominator of which is the sum of (A) the total number of Conversion Shares at the time owned by all Major Investors participating in such sale plus (B) the total number of Shares at the time owned by the Selling Stockholder.
Calculation of Shares. Each Investor may sell all or any part of that number of shares of Common Stock of the Company issued or issuable upon conversion of Preferred Stock or Common Stock received in connection with any stock dividend, stock split or other reclassification thereof (the "Conversion Shares") equal to the product obtained by multiplying (x) the aggregate number of Shares covered by the Purchase Offer by (y) a fraction, the numerator of which is the number of Conversion Shares at the time owned by such Investor and the denominator of which is the combined number of Conversion Shares of the Company at the time owned by all Investors and all Founders participating in such sale, including shares transferred by such Founder to Permitted Transferees (as hereinafter defined) in accordance herewith. The provisions of this Agreement do not confer any Co-Sale rights with respect to any shares of Common Stock or other securities held by an Investor that are not Conversion Shares, nor do the provisions of this Agreement subject any shares of Preferred Stock of the Company held by the Founders to the Co-Sale rights of the Investors, other than the Shares.
Calculation of Shares. In lieu of exercising this Warrant for cash, the Holder may elect to receive Shares equal to the value of this Warrant (or the portion thereof being exercised) by delivery of a Notice of Exercise a “Net Exercise”). Upon a Net Exercise the Holder shall have the rights described in Sections 4 hereof, and the Company shall issue to the Holder a number of Shares computed using the following formula:
Calculation of Shares. Each Investor may sell all or any part of its shares of Underlying Common Stock equal to the product obtained by multiplying (i) the aggregate number of Shares covered by the Notice by (ii) a fraction, the numerator of which is the total number of shares of Underlying Common Stock owned by such Investor at the time, and the denominator of which is the sum of (A) the total number of shares of Underlying Common Stock owned by Investors participating in such sale plus (B) the total number of shares of Common Stock at the time owned by such Executive, including shares transferred by such Executive to Permitted Transferees in accordance with this Agreement.
Calculation of Shares. For purposes of calculating the number of Registrable Securities held by a Holder (including without limitation pursuant to Sections 4(c) and 5(b) hereof), a Warrant shall be deemed to count as the number of shares of Common Stock which may be acquired upon exercise thereof.
