Common use of Further Adjustments Clause in Contracts

Further Adjustments. In case at any time or, from time to time, the Borrower may take any action that affects the class of securities into which this Note may be converted under Section 2, other than an action described herein, then, unless such action will not have a material adverse effect upon the rights of the Holder, the number of shares of such class of securities (or other securities) into which this Note is convertible shall be adjusted in such a manner and at such time as the Borrower’s Board of Directors may determine.”

Further Adjustments. In case at any time or, from time to time, the Borrower may shall take any action that affects the class of securities into which this Note may be converted under Section 2, other than an action described herein, then, unless such action will not have a material adverse effect upon the rights of the Holder, the number of shares of such class of securities (or other securities) into which this Note is convertible shall be adjusted in such a manner and at such time as shall be equitable under the Borrower’s Board of Directors may determinecircumstances.”