Common use of Computation of Consideration Clause in Contracts

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C above, the following shall apply: (a) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower for any underwriting of the issue or otherwise in connection therewith; (b) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower (irrespective of the accounting treatment thereof); and (c) Upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses (a) and (b) of this Subsection (D)).

Appears in 26 contracts

Samples: Secured Revolving Note (Artemis International Solutions Corp), Secured Revolving Note (Inyx Inc), Secured Convertible Note (Transgenomic Inc)

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Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C Section 3.6(c) above, the following shall apply: (ai) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower Company for any underwriting of the issue or otherwise in connection therewith; (bii) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower Company (irrespective of the accounting treatment thereof); and (ciii) Upon upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower Company for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower Company upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses subsections (ai) and (bii) of this Subsection (DSection 3.6(d)).

Appears in 13 contracts

Samples: Securities Purchase Agreement (Standard Management Corp), Secured Convertible Term Note (Biodelivery Sciences International Inc), Secured Convertible Term Note (House of Brussels Chocolates Inc)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C Section 2.6(c) above, the following shall apply: (ai) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower Parent for any underwriting of the issue or otherwise in connection therewith; (bii) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower Parent (irrespective of the accounting treatment thereof); and (ciii) Upon upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower Parent for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower Parent upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses subsections (ai) and (bii) of this Subsection (DSection 2.6(d)).

Appears in 11 contracts

Samples: Secured Revolving Note (Dynamic Health Products Inc), Secured Revolving Note (Dynamic Health Products Inc), Secured Revolving Note (Dynamic Health Products Inc)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C Section 3.6(c) above, the following shall apply: (ai) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower Parent for any underwriting of the issue or otherwise in connection therewith; (bii) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower Parent (irrespective of the accounting treatment thereof); and (ciii) Upon upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower Parent for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower Parent upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses subsections (ai) and (bii) of this Subsection (D)Section 2.5).

Appears in 10 contracts

Samples: Secured Convertible Minimum Borrowing Note (Dynamic Health Products Inc), Secured Convertible Minimum Borrowing Note (360 Global Wine Co), Secured Convertible Note (Dynamic Health Products Inc)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C Section 3.6(c) above, the following shall apply: (ai) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower Parent for any underwriting of the issue or otherwise in connection therewith; (bii) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower Parent (irrespective of the accounting treatment thereof); and (ciii) Upon upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower Parent for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower Parent upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses subsections (ai) and (bii) of this Subsection (DSection 3.6(d)).

Appears in 9 contracts

Samples: Secured Convertible Minimum Borrowing Note (House of Brussels Chocolates Inc), Secured Convertible Term Note (360 Global Wine Co), Convertible Term Note (American Technologies Group Inc)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C above, the following shall apply: (a) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower for any underwriting of the issue or otherwise in connection therewith; (b) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower (irrespective of the accounting treatment thereof); and (c) Upon upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses (a) and (b) of this Subsection (D)).

Appears in 7 contracts

Samples: Secured Revolving Note (Conversion Services International Inc), Secured Convertible Note (Conversion Services International Inc), Secured Convertible Note (Conversion Services International Inc)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C above, the following shall apply: (a) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower for any underwriting of the issue or otherwise in connection therewith; (b) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower (irrespective of the accounting treatment thereof); and (c) Upon any such exercisein the case of the issuance of securities convertible into or exchangeable for shares of Common Stock, the aggregate consideration received for such securities therefor shall be deemed to be the consideration received by the Borrower for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses (a) and (b) of this Subsection (D)).

Appears in 6 contracts

Samples: Secured Revolving Convertible Note (Digital Angel Corp), Secured Minimum Borrowing Convertible Note (Digital Angel Corp), Secured Minimum Borrowing Convertible Note (Digital Angel Corp)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C above, the following shall apply: (a) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower Company for any underwriting of the issue or otherwise in connection therewith; (b) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower Company (irrespective of the accounting treatment thereof); and (c) Upon any such exercisein the case of the issuance of securities convertible into or exchangeable for shares of Common Stock, the aggregate consideration received for such securities therefor shall be deemed to be the consideration received by the Borrower Company for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower Company upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses (a) and (b) of this Subsection (D)).

Appears in 5 contracts

Samples: Secured Convertible Note (Digital Angel Corp), Secured Convertible Note (Digital Angel Corp), Secured Convertible Note (Artemis International Solutions Corp)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C D above, the following shall apply: (a) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower for any underwriting of the issue or otherwise in connection therewith; (b) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower (irrespective of the accounting treatment thereof); and (c) Upon any such exerciseissuance of securities convertible into or exchangeable for Common Stock, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses (a) and (b) of this Subsection (DE)).

Appears in 4 contracts

Samples: Secured Convertible Note (Digital Lifestyles Group Inc), Secured Revolving Note (Digital Lifestyles Group Inc), Secured Revolving Note (Digital Lifestyles Group Inc)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C iii above, the following shall apply: (a) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower for any underwriting of the issue or otherwise in connection therewith; (b) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower (irrespective of the accounting treatment thereof); and (c) Upon any such exercisein the case of the issuance of securities convertible into or exchangeable for shares of Common Stock, the aggregate consideration received for such securities therefor shall be deemed to be the consideration received by the Borrower for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses (a) and (b) of this Subsection (D)iv).

Appears in 4 contracts

Samples: Convertible Secured Promissory Note (IElement CORP), Convertible Secured Promissory Note (IElement CORP), Convertible Secured Promissory Note (IElement CORP)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C Section 5.3 above, the following shall apply: (a) in In the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower Company for any underwriting of the issue or otherwise in connection therewith; (b) in In the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower Company (irrespective of the accounting treatment thereof); and (c) Upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower Company for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower Company upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses (a) and (b) of this Subsection (D)Section 5.4).

Appears in 3 contracts

Samples: Warrant Agreement (Transgenomic Inc), Warrant Agreement (Transgenomic Inc), Warrant Agreement (Transgenomic Inc)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C Section 3.6(c) above, the following shall apply: (ai) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower Company for any underwriting of the issue or otherwise in connection therewith; (bii) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower Company (irrespective of the accounting treatment thereof); and (ciii) Upon upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower Company for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower Company upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses subsections (ai) and (bii) of this Subsection (D)Section 2.5).

Appears in 3 contracts

Samples: Secured Convertible Minimum Borrowing Note (Earthfirst Technologies Inc), Secured Convertible Note (Electric City Corp), Secured Convertible Minimum Borrowing Note (Riviera Tool Co)

Computation of Consideration. For purposes of any computation ------------------------------ respecting consideration received pursuant to Subsection C Section 3.6(c) above, the following shall apply: (ai) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower Company for any underwriting of the issue or otherwise in connection therewith; (bii) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower Company (irrespective of the accounting treatment thereof); and (ciii) Upon upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower Company for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower Company upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses subsections (ai) and (bii) of this Subsection (DSection 3.6(d)).

Appears in 3 contracts

Samples: Secured Convertible Term Note (New Century Energy Corp.), Secured Convertible Term Note (New Century Energy Corp.), Secured Convertible Term Note (New Century Energy Corp.)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C Section 3.6(c) above, the following shall apply: (ai) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower for any underwriting of the issue or otherwise in connection therewith; (bii) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower (irrespective of the accounting treatment thereof); and (ciii) Upon upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses subsections (ai) and (bii) of this Subsection (DSection 3.6(d)).

Appears in 3 contracts

Samples: Secured Convertible Note (On the Go Healthcare Inc), Secured Convertible Term Note (On the Go Healthcare Inc), Secured Convertible Term Note (Elec Communications Corp)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C Section 2.6(c) above, the following shall apply: (ai) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower Company for any underwriting of the issue or otherwise in connection therewith; (bii) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower Company (irrespective of the accounting treatment thereof); and (ciii) Upon upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower Company for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower Company upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses subsections (ai) and (bii) of this Subsection (DSection 2.6(d)).

Appears in 3 contracts

Samples: Secured Convertible Revolving Note (Electric City Corp), Secured Revolving Note (Earthfirst Technologies Inc), Secured Revolving Note (Riviera Tool Co)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C above, the following shall apply: (a) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower Txxxxx Xxxxxxxxx for any underwriting of the issue or otherwise in connection therewith; (b) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower Txxxxx Xxxxxxxxx (irrespective of the accounting treatment thereof); and (c) Upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower Txxxxx Equipment for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower Txxxxx Xxxxxxxxx upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses (a) and (b) of this Subsection (D)).

Appears in 2 contracts

Samples: Secured Revolving Note (Maxim Mortgage Corp/), Secured Convertible Minimum Borrowing Note (Maxim Mortgage Corp/)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C Section 4(c) above, the following shall apply: (ai) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower Maker for any underwriting of the issue or otherwise in connection therewith; (bii) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower Maker (irrespective of the accounting treatment thereof); and (ciii) Upon upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower Maker for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower Maker upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses subsections (ai) and (bii) of this Subsection (DSection 4(d)).

Appears in 2 contracts

Samples: Senior Secured Convertible Promissory Note (It&e International Group), Senior Secured Convertible Promissory Note (It&e International Group)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C above, the following shall apply: (a) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower HSPR for any underwriting of the issue or otherwise in connection therewith; (b) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower HSPR (irrespective of the accounting treatment thereof); and (c) Upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower HSPR for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower HSPR upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses (a) and (b) of this Subsection (D)).

Appears in 2 contracts

Samples: Secured Revolving Note (Hesperia Holding Inc), Secured Convertible Minimum Borrowing Note (Hesperia Holding Inc)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C above, the following shall apply: (a) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower Xxxxxx Xxxxxxxxx for any underwriting of the issue or otherwise in connection therewith; (b) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower Xxxxxx Xxxxxxxxx (irrespective of the accounting treatment thereof); and (c) Upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower Xxxxxx Equipment for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower Xxxxxx Xxxxxxxxx upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses (a) and (b) of this Subsection (D)).

Appears in 2 contracts

Samples: Secured Revolving Note (Thomas Equipment, Inc.), Secured Revolving Note (Thomas Equipment, Inc.)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C above, the following shall apply: (a) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower ROIE for any underwriting of the issue or otherwise in connection therewiththxxxxith; (b) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower ROIE (irrespective of the accounting treatment thereof); and (c) Upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower ROIE for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower ROIE upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses (a) and (b) of this Subsection (D)).

Appears in 2 contracts

Samples: Secured Convertible Note (Return on Investment Corp), Secured Revolving Note (Return on Investment Corp)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C aboveSection 1.6(d), the following shall apply: (ai) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower for any underwriting of the issue or otherwise in connection therewith; (bii) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower (irrespective of the accounting treatment thereof); and (ciii) Upon any such exercisein the case of the issuance of securities convertible into or exercisable or exchangeable for shares of Common Stock, the aggregate consideration received for such securities therefor shall be deemed to be the consideration received by the Borrower for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower upon the conversion conversion, exercise or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses (ai) and (bii) of this Subsection (D)f).

Appears in 2 contracts

Samples: Securities Purchase Agreement (Private Media Group Inc), Securities Purchase Agreement (Private Media Group Inc)

Computation of Consideration. For purposes of any computation ------------------------------ respecting consideration received pursuant to Subsection C above, the following shall apply: (a) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower eLinear for any underwriting of the issue or otherwise in connection therewith; (b) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower eLinear (irrespective of the accounting treatment thereof); and (c) Upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower eLinear for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower eLinear upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses (a) and (b) of this Subsection (D)).

Appears in 1 contract

Samples: Secured Convertible Minimum Borrowing Note (Elinear Inc)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C Section 2.6(c) above, the following shall apply: (ai) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower Parent for any underwriting of the issue or otherwise in connection therewith; (bii) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower Parent (irrespective of the accounting treatment thereof); and (ciii) Upon with respect to any such exerciseshares of Common Stock issued upon the exercise or conversion of any option, warrant or other convertible security, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower Parent for the issuance of such convertible securities plus the additional minimum consideration, if any, to be received by the Borrower Parent upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses subsections (ai) and (bii) of this Subsection (DSection 2.6(d)).

Appears in 1 contract

Samples: Secured Revolving Note (Miscor Group, Ltd.)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C above, the following shall apply: (a1) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower Xxxxxx Xxxxxxxxx for any underwriting of the issue or otherwise in connection therewith; (b2) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower Xxxxxx Xxxxxxxxx (irrespective of the accounting treatment thereof); and (c3) Upon upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower Xxxxxx Equipment for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower Xxxxxx Xxxxxxxxx upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses (a) and (b) of this Subsection (D)).

Appears in 1 contract

Samples: Secured Convertible Term Note (Thomas Equipment, Inc.)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C above, the following shall apply: (a1) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower Txxxxx Xxxxxxxxx for any underwriting of the issue or otherwise in connection therewith; (b2) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower Txxxxx Xxxxxxxxx (irrespective of the accounting treatment thereof); and (c3) Upon upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower Txxxxx Equipment for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower Txxxxx Xxxxxxxxx upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses (a) and (b) of this Subsection (D)).

Appears in 1 contract

Samples: Secured Convertible Term Note (Maxim Mortgage Corp/)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C Section 3.6(c) above, the following shall apply: (ai) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower Parent for any underwriting of the issue or otherwise in connection therewith; (bii) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower Parent (irrespective of the accounting treatment thereof); and (ciii) Upon in the case of the issuance of securities of the Parent convertible unto or exercisable or exchangeable for Common Stock (other than for Excluded Issuances) upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower Parent for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower Parent upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses subsections (ai) and (bii) of this Subsection (DSection 3.6(d)).

Appears in 1 contract

Samples: Secured Convertible Minimum Borrowing Note (Stonepath Group Inc)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C Section 3.6(c) above, the following shall apply: (ai) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower Parent for any underwriting of the issue or otherwise in connection therewith; (bii) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower Parent (irrespective of the accounting treatment thereof); and (ciii) Upon upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower Parent for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower Parent upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses subsections (ai) and (bii) of this Subsection (D)Section 3.6).

Appears in 1 contract

Samples: Secured Convertible Note (Integrated Security Systems Inc)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C Section 3.6(c) above, the following shall apply: (ai) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower Parent for any underwriting of the issue or otherwise in connection therewith; (bii) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower Parent (irrespective of the accounting treatment thereof); and (ciii) Upon with respect to any such exerciseshares of Common Stock issued upon the exercise or conversion of any option, warrant or other convertible security, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower Parent for the issuance of such convertible securities plus the additional minimum consideration, if any, to be received by the Borrower Parent upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses subsections (ai) and (bii) of this Subsection (DSection 3.6(d)).

Appears in 1 contract

Samples: Secured Convertible Minimum Borrowing Note (Miscor Group, Ltd.)

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Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C Section 3.6(c) above, the following shall apply: (ai) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower Company for any underwriting of the issue or otherwise in connection therewith; (bii) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower Company (irrespective of the accounting treatment thereof); and (ciii) Upon upon any such exercise, the aggregate consideration considera- tion received for such securities shall be deemed to be the consideration received by the Borrower Company for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower Company upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses subsections (ai) and (bii) of this Subsection (DSection 3.6(d)).

Appears in 1 contract

Samples: Secured Convertible Term Note (Windswept Environmental Group Inc)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C Section 3.2(c) above, the following shall apply: (ai) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower for any underwriting of the issue or otherwise in connection therewith; (bii) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower (irrespective of the accounting treatment thereof); and (ciii) Upon upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses subsections (aii) and (biii) of this Subsection (D)Section 3.2(d).

Appears in 1 contract

Samples: Convertible Note (Nestor Inc)

Computation of Consideration. For purposes of any ------------------------------ computation respecting consideration received pursuant to Subsection C above, the following shall apply: (a) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower eLinear for any underwriting of the issue or otherwise in connection therewith; (b) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower eLinear (irrespective of the accounting treatment thereof); and (c) Upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower eLinear for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower eLinear upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses (a) and (b) of this Subsection (D)).

Appears in 1 contract

Samples: Secured Revolving Note (Elinear Inc)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C Section 3.6(c) above, the following shall apply: (ai) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower Company for any underwriting of the issue or otherwise in connection therewith; (bii) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower Company (irrespective of the accounting treatment thereof); and (ciii) Upon with respect to any such exerciseshares of Common Stock issued upon the exercise or conversion of any option, warrant or other convertible security, the aggregate consideration received for such securities shares of Common Stock shall be deemed to be the consideration received by the Borrower Company for the issuance of such convertible securities plus the additional minimum consideration, if any, to be received by the Borrower Company upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses subsections (ai) and (bii) of this Subsection (DSection 3.6(d)).

Appears in 1 contract

Samples: Secured Convertible Term Note (Miscor Group, Ltd.)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C Section 2.6(c) above, the following shall apply: (a) : 1 in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower Parent for any underwriting of the issue or otherwise in connection therewith; (b) ; 2 in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower Parent (irrespective of the accounting treatment thereof); and (c) Upon and 3 upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower Parent for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower Parent upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses subsections (ai) and (bii) of this Subsection (DSection 2.6(d)).

Appears in 1 contract

Samples: Secured Revolving Note (RG America, Inc.)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C Section 5.4 above, the following shall apply: (a) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower Company for any underwriting of the issue or otherwise in connection therewith; (b) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower Company (irrespective of the accounting treatment thereof); and (c) Upon upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower Company for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower Company upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses subsections (a) and (b) of this Subsection (D)Section 5.5).

Appears in 1 contract

Samples: Warrant Agreement (Debt Resolve Inc)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C above, the following shall apply: (ad) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower for any underwriting of the issue or otherwise in connection therewith; (be) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower (irrespective of the accounting treatment thereof); and (cf) Upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses (a) and (b) of this Subsection (D)).

Appears in 1 contract

Samples: Secured Revolving Note (Micro Component Technology Inc)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C Section 3.6(c) above, the following shall apply: (ai) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower Company for any underwriting of the issue or otherwise in connection therewith; (bii) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower Company (irrespective of the accounting treatment thereof); and; (ciii) Upon upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower Company for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower Company upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses subsections (ai) and (bii) of this Subsection (DSection 3.6(d)); and (iv) to the extent there are fractional shares, or dollar values smaller than one (1) cent, they shall be rounded to the nearest share or cent.

Appears in 1 contract

Samples: Secured Convertible Term Note (Apogee Technology Inc)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C above, the following shall apply: : (a) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower Company for any underwriting of the issue or otherwise in connection therewith; ; (b) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower Company (irrespective of the accounting treatment thereof); and and (c) Upon any such exercisein the case of the issuance of securities convertible into or exchangeable for shares of Common Stock, the aggregate consideration received for such securities therefor shall be deemed to be the consideration received by the Borrower Company for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower Company upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses (a) and (b) of this Subsection (D)).

Appears in 1 contract

Samples: Secured Convertible Note (Stockeryale Inc)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C above, the following shall apply: (a) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower Company for any underwriting of the issue or otherwise in connection therewith; (b) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower Company (irrespective of the accounting treatment thereof); and (c) Upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower Company for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower Company upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses (a) and (b) of this Subsection (D)).

Appears in 1 contract

Samples: Secured Convertible Minimum Borrowing Note (Catalyst Lighting Group Inc)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C above, the following shall apply: (a) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower Company for any underwriting of the issue or otherwise in connection therewith; (b) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower Company (irrespective of the accounting treatment thereof); and (c) Upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower Company for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower Company upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses (a) and (b) of this Subsection (D)).

Appears in 1 contract

Samples: Secured Revolving Note (Catalyst Lighting Group Inc)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C above, the following shall apply: (a) : - in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower for any underwriting of the issue or otherwise in connection therewith; (b) ; - in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower (irrespective of the accounting treatment thereof); and (c) and Upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses (a) and (b) of this Subsection (D)).

Appears in 1 contract

Samples: Secured Convertible Note (Global Digital Solutions Inc)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C Section 5(d) above, the following shall apply: (ai) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower Company for any underwriting of the issue or otherwise in connection therewith; (bii) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower Company (irrespective of the accounting treatment thereof); and (ciii) Upon upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower Company for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower Company upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses subsections (ai) and (bii) of this Subsection (DSection 5(e)).

Appears in 1 contract

Samples: Securities Purchase Agreement (Imac Holdings LLC)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C above, the following shall apply: (a1) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower ROIE for any underwriting of the issue or otherwise in connection therewiththxxxxith; (b2) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower ROIE (irrespective of the accounting treatment thereof); and (c3) Upon upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower ROIE for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower ROIE upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses (a) and (b) of this Subsection (D)).

Appears in 1 contract

Samples: Secured Convertible Term Note (Return on Investment Corp)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C above, the following shall apply: (a) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower for any underwriting of the issue or otherwise in connection therewith; (b) in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower (irrespective of the accounting treatment thereof); and (c) Upon any such exercisein the case of the issuance of securities convertible into or exchangeable for shares of Common Stock, the aggregate consideration received for such securities therefor shall be deemed to be the consideration received by the Borrower for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses (a) and (b) of this Subsection (D)).. 5

Appears in 1 contract

Samples: Secured Convertible Note (Ep Medsystems Inc)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C Section 3.6(c) above, the following shall apply: (ai) in the case of the issuance of shares of the Parent's Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower Parent for any underwriting of the issue or otherwise in connection therewith; (bii) in the case of the issuance of shares of the Parent's Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower Parent (irrespective of the accounting treatment thereof); and (ciii) Upon upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower Parent for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower Parent upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses subsections (ai) and (bii) of this Subsection (D)Section 2.5).

Appears in 1 contract

Samples: Secured Convertible Note (American Technologies Group Inc)

Computation of Consideration. For purposes of any computation respecting consideration received pursuant to Subsection C Section 3.6(c) above, the following shall apply: (a) : 1 in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Borrower Parent for any underwriting of the issue or otherwise in connection therewith; (b) ; 2 in the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors of the Borrower Parent (irrespective of the accounting treatment thereof); and (c) Upon and 3 upon any such exercise, the aggregate consideration received for such securities shall be deemed to be the consideration received by the Borrower Parent for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Borrower Parent upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses subsections (ai) and (bii) of this Subsection (D)Section 2.5).

Appears in 1 contract

Samples: Secured Convertible Minimum Borrowing Note (RG America, Inc.)

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