Change in Option Price or Rate of Conversion. If the purchase or exercise price provided for in any Options, the additional consideration, if any, payable upon the issue, conversion, exchange or exercise of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable or exercisable for Common Stock changes at any time, the Conversion Price in effect at the time of such change shall be adjusted to the Conversion Price which would have been in effect at such time had such Options or Convertible Securities provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold. For purposes of this Section 2(f)(i)(C), if the terms of any Option or Convertible Security that was outstanding as of the date of issuance of the Preferred Shares are changed in the manner described in the immediately preceding sentence, then such Option or Convertible Security and the Common Stock deemed issuable upon exercise, conversion or exchange thereof shall be deemed to have been issued as of the date of such change. No adjustment shall be made if such adjustment would result in an increase of the Conversion Price then in effect.
Appears in 4 contracts
Samples: Securities Purchase Agreement (Devcon International Corp), Consent and Waiver Agreement (Interpharm Holdings Inc), Securities Purchase Agreement (Sac Capital Advisors LLC)
Change in Option Price or Rate of Conversion. If the purchase or exercise price provided for in any Options, the additional consideration, if any, payable upon the issue, conversion, exchange or exercise of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable or exercisable for Common Stock changes at any timetime (other than Excluded Issuances, in each case), the Conversion Warrant Price in effect at the time of such change shall be adjusted to the Conversion Warrant Price which would have been in effect at such time had such Options or Convertible Securities provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or soldsold and the number of shares of Common Stock acquirable hereunder shall be correspondingly readjusted. For purposes of this Section 2(f)(i)(C9(b)(iii), if the terms of any Option or Convertible Security that was outstanding as of the date of issuance of the Preferred Shares this Warrant are changed in the manner described in the immediately preceding sentence, then such Option or Convertible Security and the Common Stock deemed issuable upon exerciseconversion, conversion exchange or exchange exercise thereof shall be deemed to have been issued as of the date of such change. No adjustment shall be made if such adjustment would result in an increase of the Conversion Price then in effect.
Appears in 3 contracts
Samples: Warrant Agreement (United Energy Corp /Nv/), Purchase Warrant (United Energy Corp /Nv/), Warrant Agreement (United Energy Corp /Nv/)
Change in Option Price or Rate of Conversion. If the purchase or exercise price provided for in any Options, the additional consideration, if any, payable upon the issue, conversion, conversion or exchange or exercise of any Convertible Securitiesconvertible securities, or the rate at which any Convertible Securities convertible securities are convertible into or exchangeable or exercisable for Common Stock changes at any time, the Conversion Warrant Exercise Price in effect at the time of such change shall be adjusted to the Conversion Warrant Exercise Price which would have been in effect at such time had such Options or Convertible Securities convertible securities provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or soldsold and the number of Warrant Shares issuable upon exercise of this Warrant shall be correspondingly readjusted. For purposes of this Section 2(f)(i)(C5.01(b)(iii), if the terms of any Option or Convertible Security convertible security that was outstanding as of the date Issuance Date of issuance of the Preferred Shares this Warrant are changed in the manner described in the immediately preceding sentence, then such Option or Convertible Security convertible security and the Common Stock deemed issuable upon exercise, conversion or exchange thereof shall be deemed to have been issued as of the date of such change. No adjustment pursuant to this Section 5.01(b) shall be made if such adjustment would result in an increase of the Conversion Warrant Exercise Price then in effect.
Appears in 2 contracts
Samples: Warrant Agreement (Performance Health Technologies Inc), Warrant Agreement (Performance Health Technologies Inc)
Change in Option Price or Rate of Conversion. If the purchase or exercise price ------------------------------------------------------ provided for in any Options, the additional consideration, if any, payable upon the issue, conversion, conversion or exchange or exercise of any Convertible Securitiesconvertible securities, or the rate at which any Convertible Securities convertible securities are convertible into or exchangeable or exercisable for Common Stock changes at any time, the Conversion Price in effect at the time of such change shall be adjusted to the Conversion Price which would have been in effect at such time had such Options or Convertible Securities convertible securities provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or soldsold and the number of shares of Common Stock issuable upon conversion of this Debenture shall be correspondingly readjusted. For purposes of this Section 2(f)(i)(C5.01(b)(iii), if the terms of any Option or Convertible Security convertible security that was outstanding as of the date of issuance of the Preferred Shares Original Issue Date are changed in the manner described in the immediately preceding sentence, then such Option or Convertible Security convertible security and the Common Stock deemed issuable upon exercise, conversion or exchange thereof shall be deemed to have been issued as of the date of such change. No adjustment pursuant to this Section 5.01(b) shall be made if such adjustment would result in an increase of the Conversion Price then in effect.
Appears in 1 contract
Change in Option Price or Rate of Conversion. If the purchase or exercise price provided for in any OptionsOptions (other than Excluded Securities), the additional consideration, if any, payable upon the issue, conversion, exchange or exercise of any Convertible Securities, or the rate at which any Convertible Securities (other than Excluded Securities) are convertible into or exchangeable or exercisable for Common Stock changes at any timeis changed, the Conversion Exercise Price in effect at the time of such change shall be adjusted to the Conversion Exercise Price which would have been in effect at such time had such Options or Convertible Securities provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold. For purposes of this Section 2(f)(i)(C)3.2.3, if the terms of any Option or Convertible Security that was outstanding as of the date of issuance of the Preferred Shares Closing Date are changed in the manner described in the immediately preceding sentence, then such Option or Convertible Security and the Common Stock deemed issuable upon exercise, conversion or exchange thereof shall be deemed to have been issued as of the date of such change. No adjustment shall be made if such adjustment would result in an increase of the Conversion Exercise Price then in effect.
Appears in 1 contract
Samples: Common Stock Purchase Warrant (Brainstorm Cell Therapeutics Inc)
Change in Option Price or Rate of Conversion. If the purchase or exercise price provided for in any Options, the additional consideration, if any, payable upon the issue, conversion, exchange or exercise of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable or exercisable for Common Stock changes at any time, the Conversion Warrant Price in effect at the time of such change shall be adjusted to the Conversion Warrant Price which would have been in effect at such time had such Options or Convertible Securities provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or soldsold and the number of shares of Common Stock acquirable hereunder shall be correspondingly readjusted. For purposes of this Section 2(f)(i)(C9(b)(iii), if the terms of any Option or Convertible Security that was outstanding as of the date of issuance of the Preferred Shares this Warrant are changed in the manner described in the immediately preceding sentence, then such Option or Convertible Security and the Common Stock deemed issuable upon exerciseconversion, conversion exchange or exchange exercise thereof shall be deemed to have been issued as of the date of such change. No adjustment shall be made if such adjustment would result in an increase of the Conversion Warrant Price then in effect.
Appears in 1 contract
Samples: Warrant Agreement (Hearusa Inc)
Change in Option Price or Rate of Conversion. If the purchase or exercise price provided for in any Options, the additional consideration, if any, payable upon the issue, conversion, exercise or exchange or exercise of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exercisable or exchangeable or exercisable for Common Stock changes increases or decreases at any time, then the Conversion Price in effect at the time of such change adjustment required by this Section 11 shall be adjusted to the Conversion Price which would have been in effect recalculated at such time had as if such Options or Convertible Securities provided for such changed increased or decreased purchase price, additional consideration or changed increased or decreased conversion rate, as the case may be, at the time initially granted, issued or sold. For purposes of this Section 2(f)(i)(C11(c), if the terms of any Option or Convertible Security that was outstanding as of the date of issuance of the Preferred Shares Effective Date are changed increased or decreased in the manner described in the immediately preceding sentence, then such Option or Convertible Security and the Common Stock deemed issuable upon exercise, conversion or exchange thereof shall be deemed to have been issued as of the date of such changeincrease or decrease. No adjustment pursuant to this Section 11 shall be made if such adjustment would result in an increase a lower number of shares of Common Stock being issued to the Conversion Price then in effectSubscriber than previously calculated pursuant to this Section 11.
Appears in 1 contract
Change in Option Price or Rate of Conversion. If the purchase or exercise price provided for in any Options, the additional consideration, if any, payable upon the issue, conversion, exchange or exercise of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable or exercisable for Common Stock changes at any time, the Conversion Price in effect at the time of such change shall be adjusted to the Conversion Price which would have been in effect at such time had such Options or Convertible Securities provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold. For purposes of this Section 2(f)(i)(C7(a)(iii), if the terms of any Option or Convertible Security that was outstanding as of the date of issuance of the Preferred Shares Issuance Date are changed in the manner described in the immediately preceding sentence, then such Option or Convertible Security and the Common Stock deemed issuable upon exercise, conversion or exchange thereof shall be deemed to have been issued as of the date of such change. No adjustment shall be made if such adjustment would result in an increase of the Conversion Price then in effect.
Appears in 1 contract
Change in Option Price or Rate of Conversion. If the purchase or exercise price provided for in any Options, the additional consideration, if any, payable upon the issueissuance, conversion, conversion or exchange or exercise of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable or exercisable for Common Stock changes at any time, the Conversion Warrant Price in effect at the time of such change shall be adjusted to the Conversion Warrant Price which would have been in effect at such time had such Options or Convertible Securities provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or soldsold and the number of shares of Common Stock acquirable hereunder shall be correspondingly readjusted. For purposes of this Section 2(f)(i)(C4.6(c), if the terms of any Option or Convertible Security that was outstanding as of the date of issuance of the Preferred Shares this Warrant are changed in the manner described in the immediately preceding sentence, then such Option or Convertible Security and the Common Stock deemed issuable upon exercise, conversion or exchange thereof shall be deemed to have been issued as of the date of such change. No adjustment shall be made if such adjustment would result in an increase of the Conversion Price then in effect.
Appears in 1 contract
Change in Option Price or Rate of Conversion. If the purchase or exercise price provided for in any Options, the additional consideration, if any, payable upon the issue, conversion, conversion or exchange or exercise of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable or exercisable for Common Stock changes at any time, the Conversion Price Rate in effect at the time of such change shall be adjusted to the Conversion Price Rate which would have been in effect at such time had such Options or Convertible Securities provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or soldsold and the number of shares of Common Stock acquirable hereunder shall be correspondingly readjusted. For purposes of this Section 2(f)(i)(C)6.2.3, if the terms of any Option or Convertible Security that was outstanding as of the date of issuance of the Preferred Shares this Note are changed in the manner described in the immediately preceding sentence, then such Option or Convertible Security and the Common Stock deemed issuable upon exercise, conversion or exchange thereof shall be deemed to have been issued as of the date of such change. No adjustment shall be made if such adjustment would result in an increase of the Conversion Price Rate then in effect.
Appears in 1 contract
Samples: Promissory Note (SSP Solutions Inc)
Change in Option Price or Rate of Conversion. If the purchase or -------------------------------------------- exercise price provided for in any Options, the additional consideration, if any, payable upon the issue, conversion, exchange or exercise of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable or exercisable for Common Stock changes at any time, the Conversion Exercise Price in effect at the time of such change shall be adjusted to the Conversion Exercise Price which would have been in effect at such time had such Options or Convertible Securities provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold. For purposes of this Section 2(f)(i)(C8(a)(iii), if the terms of any Option or Convertible Security that was outstanding as of the date of issuance of the Preferred Shares Notes are changed in the manner described in the immediately preceding sentence, then such Option or Convertible Security and the Common Stock deemed issuable upon exercise, conversion or exchange thereof shall be deemed to have been issued as of the date of such change. No adjustment shall be made if such adjustment would result in an increase of the Conversion Exercise Price then in effect.
Appears in 1 contract
Samples: Warrant Agreement (Britesmile Inc)
Change in Option Price or Rate of Conversion. If the purchase or exercise price provided for in any Options, the additional consideration, if any, payable upon the issue, conversion, exchange or exercise of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable or exercisable for Common Stock Shares changes at any time, the Conversion Price in effect at the time of such change shall be adjusted to the Conversion Price which would have been in effect at such time had such Options or Convertible Securities provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold. For purposes of this Section 2(f)(i)(C9(a)(iii), if the terms of any Option or Convertible Security that was outstanding as of the date of issuance of the shares of Series E Preferred Shares Stock are changed in the manner described in the immediately preceding sentence, then such Option or Convertible Security and the Common Stock Shares deemed issuable upon exercise, conversion or exchange thereof shall be deemed to have been issued as of the date of such change. No adjustment shall be made if such adjustment would result in an increase of the Conversion Price then in effect.
(d) (iv)
Appears in 1 contract
Samples: Securities Purchase Agreement (Stratus Media Group, Inc)
Change in Option Price or Rate of Conversion. If the purchase or exercise price provided for in any Options, the additional consideration, if any, payable upon the issueissuance, conversion, conversion or exchange or exercise of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable or exercisable for Common Stock changes at any time, the Conversion Exercise Price in effect at the time of such change shall be adjusted to the Conversion Exercise Price which would have been in effect at such time had such Options or Convertible Securities provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or soldsold and the number of shares of Common Stock acquirable hereunder shall be correspondingly readjusted. For purposes of this Section 2(f)(i)(C7(d)(iii), if the terms of any Option or Convertible Security that was outstanding as of the date of issuance of the Preferred Shares this Warrant are changed in the manner described in the immediately preceding sentence, then such Option or Convertible Security and the Common Stock deemed issuable upon exercise, conversion or exchange thereof shall be deemed to have been issued as of the date of such change. No adjustment shall be made if such adjustment would result in an increase of the Conversion Price then in effect.
Appears in 1 contract
Samples: Warrant Agreement (Vistula Communications Services, Inc.)
Change in Option Price or Rate of Conversion. If the purchase or exercise price provided for in any Options, the additional consideration, if any, payable upon the issue, conversion, exercise or exchange or exercise of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exercisable or exchangeable or exercisable for shares of Common Stock changes decreases at any time, the Conversion Exercise Price in effect at the time of such change decrease shall be adjusted to the Conversion Exercise Price which would have been in effect at such time had such Options or Convertible Securities provided for such changed decreased purchase price, additional consideration or changed decreased conversion rate, as the case may be, at the time initially granted, issued or sold. For purposes of this Section 2(f)(i)(C3(b)(iii), if the terms of any Option or Convertible Security that was outstanding as of the date of issuance of the Preferred Shares this Warrant are changed decreased in the manner described in the immediately preceding sentence, then such Option or Convertible Security and the shares of Common Stock deemed issuable upon exercise, conversion or exchange thereof shall be deemed to have been issued as of the date of such changedecrease. No adjustment pursuant to this Section 3(b) shall be made if such adjustment would result in an increase of the Conversion Exercise Price then in effect.
Appears in 1 contract
Samples: Common Stock Purchase Warrant (Generex Biotechnology Corp)
Change in Option Price or Rate of Conversion. If the purchase or exercise price provided for in any Options, the additional consideration, if any, payable upon the issue, conversion, exchange or exercise of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable or exercisable for Common Stock Shares changes at any time, the Conversion Price in effect at the time of such change shall be adjusted to the Conversion Price which would have been in effect at such time had such Options or Convertible Securities provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold. For purposes of this Section 2(f)(i)(C9(a)(iii), if the terms of any Option or Convertible Security that was outstanding as of the date of issuance of the shares of Series E Preferred Shares Stock are changed in the manner described in the immediately preceding sentence, then such Option or Convertible Security and the Common Stock Shares deemed issuable upon exercise, conversion or exchange thereof shall be deemed to have been issued as of the date of such change. No adjustment shall be made if such adjustment would result in an increase of the Conversion Price then in effect.
Appears in 1 contract
Samples: Securities Purchase Agreement (Stratus Media Group, Inc)
Change in Option Price or Rate of Conversion. If the purchase or exercise price provided for in any Options, the additional consideration, if any, payable upon the issueissuance, conversion, conversion or exchange or exercise of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable or exercisable for Common Stock changes at any time, the Conversion Exercise Price in effect at the time of such change shall be adjusted to the Conversion Exercise Price which would have been in effect at such time had such Options or Convertible Securities provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or soldsold and the number of shares of Common Stock acquirable hereunder shall be correspondingly readjusted. For purposes of this Section 2(f)(i)(C8(d)(iii), if the terms of any Option or Convertible Security that was outstanding as of the date of issuance of the Preferred Shares this Warrant are changed in the manner described in the immediately preceding sentence, then such Option or Convertible Security and the Common Stock deemed issuable upon exercise, conversion or exchange thereof shall be deemed to have been issued as of the date of such change. No adjustment shall be made if such adjustment would result in an increase of the Conversion Price then in effect.
Appears in 1 contract
Samples: Warrant Agreement (Vistula Communications Services, Inc.)
Change in Option Price or Rate of Conversion. If the purchase or exercise price provided for in any Options, the additional consideration, if any, payable upon the issue, conversion, exchange or exercise of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable or exercisable for Common Stock changes at any time, the Conversion Price in effect at the time of such change shall be adjusted to the Conversion Price which would have been in effect at such time had such Options or Convertible Securities provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold. For purposes of this Section 2(f)(i)(C3(e)(i)(C), if the terms of any Option or Convertible Security that was outstanding as of the date of issuance of the Preferred Shares are changed in the manner described in the immediately preceding sentence, then such Option or Convertible Security and the Common Stock deemed issuable upon exercise, conversion or exchange thereof shall be deemed to have been issued as of the date of such change. No adjustment shall be made if such adjustment would result in an increase of the Conversion Price then in effect.
Appears in 1 contract
Samples: Securities Purchase Agreement (Act Teleconferencing Inc)
Change in Option Price or Rate of Conversion. If the purchase or exercise price provided for in any Options, the additional consideration, if any, payable upon the issue, conversion, exchange or exercise of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable or exercisable for Common Stock Shares changes at any time, the Conversion Price in effect at the time of such change shall be re-adjusted (but to no greater extent than originally adjusted) to the Conversion Price which would have been in effect at such time had such Options or Convertible Securities provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold. For purposes of this Section 2(f)(i)(C7(a)(iii), if the terms of any Option or Convertible Security that was outstanding as of the date of issuance of the Preferred Shares Subscription Date are changed in the manner described in the immediately preceding sentence, then such Option or Convertible Security and the Common Stock Shares deemed issuable upon exercise, conversion or exchange thereof shall be deemed to have been issued as of the date of such change. No adjustment shall be made if such adjustment would result in an increase of the Conversion Price then in effect.
Appears in 1 contract
Change in Option Price or Rate of Conversion. If the purchase or exercise price provided for in any OptionsOptions (other than Excluded Securities), the additional consideration, if any, payable upon the issue, conversion, exchange or exercise of any Convertible Securities, or the rate at which any Convertible Securities (other than Excluded Securities) are convertible into or exchangeable or exercisable for Common Stock changes at any timeis changed, the Conversion Exercise Price in effect at the time of such change shall be adjusted to the Conversion Exercise Price which would have been in effect at such time had such Options or Convertible Securities provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold. For purposes of this Section 2(f)(i)(C2(b)(3), if the terms of any Option or Convertible Security that was outstanding as of the date of issuance of the Preferred Shares Closing Date are changed in the manner described in the immediately preceding sentence, then such Option or Convertible Security and the Common Stock deemed issuable upon exercise, conversion or exchange thereof shall be deemed to have been issued as of the date of such change. No adjustment shall be made if such adjustment would result in an increase of the Conversion Exercise Price then in effect.
Appears in 1 contract
Change in Option Price or Rate of Conversion. If the purchase or exercise price provided for in any Options, the additional consideration, if any, payable upon the issue, conversion, exchange or exercise of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable or exercisable for Common Stock changes at any time, the Conversion Floor Price in effect at the time of such change shall be adjusted to the Conversion Floor Price which would have been in effect at such time had such Options or Convertible Securities provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold. For purposes of this Section 2(f)(i)(C)Section, if the terms of any Option or Convertible Security that was outstanding as of the date of issuance of the Preferred Shares Closing Date are changed in the manner described in the immediately preceding sentence, then such Option or Convertible Security and the Common Stock deemed issuable upon exercise, conversion or exchange thereof shall be deemed to have been issued as of the date of such change. No adjustment shall be made if such adjustment would result in an increase of the Conversion Floor Price then in effect.. Initials Initials
Appears in 1 contract
Samples: Convertible Debenture Agreement (CSMG Technologies, Inc.)
Change in Option Price or Rate of Conversion. If the purchase or exercise price provided for in any Options, the additional consideration, if any, payable upon the issue, conversion, exchange or exercise of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable or exercisable for Common Stock changes at any time, the Conversion Price in effect at the time of such change shall be adjusted to the Conversion Price which would have been in effect at such time had such Options or Convertible Securities provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold. For purposes of this Section 2(f)(i)(C8.1.1(c), if the terms of any Option or Convertible Security that was outstanding as of the date of issuance of the Preferred Shares Subscription Date are changed in the manner described in the immediately preceding sentence, then such Option or Convertible Security and the Common Stock deemed issuable upon exercise, conversion or exchange thereof shall be deemed to have been issued as of the date of such change. No adjustment shall be made if such adjustment would result in an increase of the Conversion Price then in effect.
Appears in 1 contract
Change in Option Price or Rate of Conversion. If the purchase or exercise price provided for in any OptionsOptions (other than Excluded Securities), the additional consideration, if any, payable upon the issue, conversion, exchange or exercise of any Convertible Securities, or the rate at which any Convertible Securities (other than Excluded Securities) are convertible into or exchangeable or exercisable for Common Stock changes at any timeis changed, the Conversion Price in effect at the time of such change shall be adjusted to the Conversion Price which would have been in effect at such time had such Options or Convertible Securities provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold. For purposes of this Section 2(f)(i)(C7(a)(iii), if the terms of any Option or Convertible Security that was outstanding as of the date of issuance of the Preferred Shares Closing Date are changed in the manner described in the immediately preceding sentence, then such Option or Convertible Security and the Common Stock deemed issuable upon exercise, conversion or exchange thereof shall be deemed to have been issued as of the date of such change. No adjustment shall be made if such adjustment would result in an increase of the Conversion Price then in effect.
Appears in 1 contract
Samples: Securities Purchase Agreement (Composite Technology Corp)
Change in Option Price or Rate of Conversion. If the purchase or exercise price provided for in any Options, the additional consideration, if any, payable upon the issue, conversion, exchange or exercise of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable or exercisable for shares of Common Stock changes increases or decreases at any time, the Conversion Exchange Price in effect at the time of such change increase or decrease shall be adjusted to the Conversion Exchange Price which that would have been in effect at such time had such Options or Convertible Securities provided for such changed increased or decreased purchase price, additional consideration or changed increased or decreased conversion rate, as the case may be, at the time initially granted, issued or sold. For purposes of this Section 2(f)(i)(C7(a)(iii), if the terms of any Option or Convertible Security that was outstanding as of the date of issuance of the Preferred Shares Subscription Date are changed increased or decreased in the manner described in the immediately preceding sentence, then such Option or Convertible Security and the shares of Common Stock deemed issuable upon exercise, conversion or exchange thereof shall be deemed to have been issued as of the date of such changeincrease or decrease. No adjustment pursuant to this Section 7(a) shall be made if such adjustment would result in an increase of the Conversion Exchange Price then in effect.
Appears in 1 contract
Change in Option Price or Rate of Conversion. If the purchase or exercise price provided for in any Options, the additional consideration, if any, payable upon the issue, conversion, exchange or exercise of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable or exercisable for Common Stock changes at any time, the Standard Conversion Price in effect at the time of such change shall be adjusted to the Standard Conversion Price which would have been in effect at such time had such Options or Convertible Securities provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold. For purposes of this Section 2(f)(i)(C6(a)(iii), if the terms of any Option or Convertible Security that was outstanding as of the date of issuance of the Preferred Shares Debentures are changed in the manner described in the immediately preceding sentence, then such Option or Convertible Security and the Common Stock deemed issuable upon exercise, conversion or exchange thereof shall be deemed to have been issued as of the date of such change. No adjustment shall be made if such adjustment would result in an increase of the Standard Conversion Price then in effect.
Appears in 1 contract