Exchange of Convertible Securities. Effective as of the Closing Date, the holders (individually, the “Holder,” and collectively the “Holders”) of the outstanding warrants, options and convertible debentures of EFactor (collectively, the “Convertible Securities”), as set forth on Schedule 1.03 hereto, upon the exercise or conversion of the Convertible Securities, shall have the right to convert such Convertible Securities into the kind and amount of EHI shares of stock and other securities and property which such Holder would have owned or have been entitled to receive prior to the Closing of the Share Exchange transaction contemplated in this Agreement.
Exchange of Convertible Securities. Prior to the Closing, each outstanding option, warrant or other security convertible into or exercisable for Company Shares ("Company Convertible Securities") shall be exchanged for or converted into convertible securities of OCIS ("OCIS Convertible Securities"), which OCIS Convertible Securities shall have substantially the same terms as the Company Convertible Securities.
Exchange of Convertible Securities. Effective as of the Closing Date, the holders (individually, the “Holder,” and collectively the “Holders”) of the outstanding warrants, options and convertible debentures of SquareOne (collectively, the “Convertible Securities”), as set forth on Schedule 1.02 hereto, upon the exercise or conversion of the Convertible Securities, shall have the right to convert such Convertible Securities into the kind and amount of shares of stock and other securities and property which such Holder would have owned or have been entitled to receive prior to the Closing of the share exchange transaction contemplated in this Agreement, multiplied by 1.6897.
Exchange of Convertible Securities. Prior to the Closing, each outstanding option, warrant or other security convertible into or exercisable for Company Shares (“Company Convertible Securities”), if any, shall be exchanged for or converted into convertible securities of ORRV (“ORRV Convertible Securities”), which ORRV Convertible Securities shall have substantially the same terms as the Company Convertible Securities.
Exchange of Convertible Securities. Each option, warrant and security exercisable or convertible by its terms into Hutech HK Stock (including convertible promissory notes), whether vested or unvested, which is outstanding immediately prior to the Closing (each, a “Hutech HK Convertible Security”), shall be assumed by Hutech BVI and shall be deemed to constitute an option, warrant or convertible security, as the case may be, to acquire the same number of shares of Hutech BVI Stock; provided that, on a share by share comparison, the ratio of the exercise price to the fair market value of the Hutech BVI Stock subject to the convertible security immediately after the assumption is not greater than the ratio of the exercise price to the fair market value of the shares subject to the Hutech HK Convertible Security immediately before the assumption. All other terms and conditions of such Hutech BVI options, warrants and/or convertible securities shall be the same as the Hutech HK Convertible Securities that have been converted, as such Hutech HK Convertible Securities existed immediately prior to the date hereof, with full credit being given for any vesting that has occurred prior to the date hereof.
Exchange of Convertible Securities. Upon and subject to the terms and conditions of this Agreement, on the Closing Date, the holders of the AHI Ontario Convertible Securities, as set out in Schedule "A", agree to terminate and cancel the AHI Ontario Convertible Securities held by them in exchange for the issuance to each of them of the Resulting Issuer Convertible Securities, on a one for one basis.
Exchange of Convertible Securities. Prior to the Closing, each outstanding note, debenture or other security convertible into or exercisable for GT Biopharma shares of common stock (the “GT Biopharma Convertible Securities”) shall be exchanged for or converted into GT Biopharma shares of common stock.
Exchange of Convertible Securities. (a) As of the Closing, each option to acquire shares of Aircom Stock (an “Aircom Stock Option”) granted under the 2014 Stock Plan of Aircom (the “Plan”) that is outstanding and unexercised immediately prior to the Closing, whether or not then vested or exercisable, shall be assumed by Aerkomm and shall be converted into a stock option (an “Aerkomm Stock Option”) to acquire the number of whole shares of Aerkomm Stock (rounded down to the nearest whole share) equal to the product of (i) the number of shares of Aircom Stock subject to the Aircom Stock Option and (ii) the Exchange Ratio, at an exercise price per share of Aerkomm (rounded up to the nearest one thousandth of one cent) equal to the quotient obtained by dividing (x) the exercise price of the Aircom Stock Option by (y) the Exchange Ratio; provided, that the exercise price subject to the Aerkomm Stock Option shall be determined in a manner consistent with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and, in the case of Aircom Stock Options that are intended to qualify as incentive stock options within the meaning of Section 422 of the Code, consistent with the requirements of Section 424 of the Code. Each such Aerkomm Stock Option as so assumed and converted shall continue to have, and shall be subject to, the same terms and conditions as applied to the Aircom Stock Option immediately prior to the Closing.
(b) As of the Closing, all restricted shares of Aircom Common Stock issued under the Plan shall also be exchanged into the Shares based on the Exchange Ratio but will continue to be subject to all other terms of the Plan and the respective restricted stock agreements. As of the Closing, Aerkomm will assume Aircom’s rights and obligations under the restricted stock agreements and these agreements will continue to govern the restricted Shares issued in exchange of the restricted shares of Aircom Common Stock.
(c) Aerkomm shall establish a stock incentive plan as soon as practicable following the Closing pursuant to which Aerkomm shall issue an Aerkomm Stock Option to each holder of an Aircom Stock Option.
Exchange of Convertible Securities. Prior to the Closing, each outstanding option, warrant or other security convertible into or exercisable for Company Shares (“Company Convertible Securities”) shall be exchanged for or converted into convertible securities of GLER (“GLER Convertible Securities”), which GLER Convertible Securities shall have substantially the same terms as the Company Convertible Securities.
Exchange of Convertible Securities. The Company shall take such action as is necessary to adopt any and all outstanding equity incentive or similar share plans of Droneify such that each award under any such plan (whether an option, restricted share grant, restricted share unit or otherwise and whether vested or unvested), which is outstanding immediately prior to the Closing Date shall be assumed by the Company and shall be deemed to constitute an award for number of Company Shares receivable for the Droneify Shares subject to such award based upon the Exchange Ratio. The Company shall also take such action as is necessary such that each option, warrant and convertible note or other security exercisable or exchangeable for, or convertible into Droneify Shares, whether vested or unvested, which is outstanding immediately prior to the Closing Date (each, a “Droneify Convertible Security”), shall be assumed by the Company and shall be deemed to constitute an option, warrant or convertible security, as the case may be, to acquire the appropriate number of Company Shares based upon the Exchange Ratio. All terms and conditions of such Company options, warrants and/or convertible securities shall be the same as the Droneify Convertible Securities that have been converted, as such Droneify Convertible Securities existed immediately prior to the date hereof, with full credit being given for any vesting that has occurred prior to the date hereof.
