Common use of Equitable Adjustments for Recapitalizations Clause in Contracts

Equitable Adjustments for Recapitalizations. Each of (a) the Conversion Ratio set forth in Section 3.1 (the “Preferred Stock Adjustable Provisions”); (b) the Series C Voting Shares and the Conversion Ratio (to the extent not adjusted by the Preferred Stock Adjustable Provisions) (the “Common Stock Adjustable Provisions”), and (c) any and all other terms, conditions, amounts and provisions of this Designation which (i) pursuant to the terms of this Designation provide for equitable adjustment in the event of a Recapitalization (the “Other Equitable Adjustable Provisions”); or (ii) the Board of Directors of the Corporation determines in their reasonable, good faith judgment is required to be equitably adjusted in connection with any Recapitalizations, shall be subject to equitable adjustment as provided in Sections 4.2 through 4.3, below, as determined by the Board of Directors in their reasonable discretion.

Equitable Adjustments for Recapitalizations. Each of (a) The Liquidation Preference and the Conversion Ratio set forth in Section 3.1 Original Issue Price (each, as and if applicable) (the “Preferred Stock Adjustable Provisions”); (b) the Series C Voting Conversion Price, Dividend Shares Conversion Price and the Conversion Ratio Trading Price (to the extent not adjusted by the Preferred Stock Adjustable Provisionsas and if applicable) (the “Common Stock Adjustable Provisions”), and (c) any and all other terms, conditions, amounts and provisions of this Designation which (i) pursuant to the terms of this Designation provide for equitable adjustment in the event of a Recapitalization (the “Other Equitable Adjustable Provisions”); or (ii) the Board of Directors of the Corporation determines in their reasonable, reasonable good faith judgment is required to be equitably adjusted in connection with any Recapitalizations, shall each be subject to equitable adjustment as provided in Sections 4.2 5.2 through 4.35.3, below, as determined by the Board of Directors in their sole and reasonable discretion.. Vertex Energy: Series B1 Certificate of Designation 21

Equitable Adjustments for Recapitalizations. Each of The (a) the Conversion Ratio set forth in Section 3.1 Liquidation Preference (the “Preferred Stock Adjustable Provisions”); (b) the Series C Voting Shares and the Conversion Ratio (to the extent not adjusted by the Preferred Stock Adjustable Provisions) Rate (the “Common Stock Adjustable Provisions”), and (c) any and all other terms, conditions, amounts and provisions of this Designation which (i) pursuant to the terms of this Designation provide for equitable adjustment in the event of a Recapitalization (the “Other Equitable Adjustable Provisions”)Recapitalization; or (ii) the Board of Directors of the Corporation determines determine in their reasonable, reasonable good faith judgment is required to be equitably adjusted in connection with any RecapitalizationsRecapitalizations (collectively Sections (c)(i) and (ii), the “Other Equitable Adjustable Provisions”), shall each be subject to equitable adjustment as provided in Sections 4.2 5.2 through 4.35.4, below, as determined by the Board of Directors in their sole and reasonable discretion.