Common use of Grant, Issue or Sale of Options, Convertible Securities, or Rights Clause in Contracts

Grant, Issue or Sale of Options, Convertible Securities, or Rights. If at any time or from time to time on or after the date of issuance hereof, the Company shall grant, issue or sell any rights to subscribe for or to purchase, or any options for the purchase of, Common Stock or any stock or other securities convertible into or exchangeable for Common Stock or rights to purchase other property (the “Purchase Rights”) pro rata to the record holders of any class of Common Stock of the Company, then the Holder shall be entitled to acquire (within 30 days after the later to occur of the initial exercise date of such Purchase Rights or receipt by such Holder of the notice concerning Purchase Rights to which such Holder shall be entitled under this Section 3.1(a)(v)) upon the terms applicable to such Purchase Rights either: (i) the aggregate Purchase Rights which such Holder or permitted assignee could have acquired if it had held the number of shares of Common Stock acquirable upon exercise of this Warrant immediately before the grant, issuance or sale of such Purchase Rights; provided that if any Purchase Rights were distributed to holders of Common Stock without the payment of additional consideration by such holders, corresponding Purchase Rights shall be distributed to the exercising Holder as soon as possible after such exercise, and it shall not be necessary for the exercising Holder specifically to request delivery of such rights; or (ii) in the event that any such Purchase Rights shall have expired or shall expire prior to the end of said 30-day period, the number of shares of Common Stock or the amount of property which such Holder could have acquired upon such exercise at the time or times at which the Company granted, issued or sold such expired Purchase Rights.

Appears in 2 contracts

Samples: Warrant (Varitek Industries Inc), Varitek Industries Inc

AutoNDA by SimpleDocs

Grant, Issue or Sale of Options, Convertible Securities, or Rights. If at any time or from time to time on or after the date of issuance hereof, the Company shall grant, issue or sell any rights to subscribe for or to purchaseoptions, or any options for the purchase of, Common Stock or any stock or other securities convertible into or exchangeable for Common Stock Convertible Securities or rights to purchase other property (the “Purchase Rights”) pro rata to the record holders of any class of Common Stock and such grants, issuances or sales do not result in an adjustment of the CompanyUnits hereunder, then the Holder shall be entitled to acquire (within 30 thirty (30) days after the later to occur of the initial exercise date of such Purchase Rights or receipt by such Holder holder of the notice concerning Purchase Rights to which such Holder holder shall be entitled under this Section 3.1(a)(v)11) and upon the terms applicable to such Purchase Rights either: (i) the aggregate Purchase Rights which such the Holder or permitted assignee could have acquired if it had held the number of shares of Common Stock acquirable upon exercise of this Warrant immediately before the grant, issuance or sale of such Purchase RightsRights (irrespective of any vesting dates set forth herein); provided that if any Purchase Rights were distributed to holders of Common Stock without the payment of additional consideration by such holders, corresponding Purchase Rights shall be distributed to the exercising Holder as soon as possible after such exercise, exercise and it shall not be necessary for the exercising Holder specifically to request delivery of such rights; or (ii) in the event that any such Purchase Rights shall have expired or shall expire prior to the end of said thirty (30-) day period, the number of shares of Common Stock or the amount of property which such the Holder could have acquired upon such exercise at the time or times at which the Company granted, issued or sold such expired Purchase Rights.

Appears in 1 contract

Samples: Agreement (Precision Auto Care Inc)

AutoNDA by SimpleDocs

Grant, Issue or Sale of Options, Convertible Securities, or Rights. If at any time or from time to time on or after the date of issuance hereof, the Company shall grant, issue or sell any rights to subscribe for or to purchase, or any options for the purchase of, Common Stock or any stock or other securities convertible into or exchangeable for Common Stock or rights to purchase other property (the "Purchase Rights") pro rata to the record holders of any class of Common Stock of the Company, then the Holder shall be entitled to acquire (within 30 thirty (30) days after the later to occur of the initial exercise date of such Purchase Rights or receipt by such Holder holder of the notice concerning Purchase Rights to which such Holder holder shall be entitled under this Section 3.1(a)(v5(f)) upon the terms applicable ------------- to such Purchase Rights either: (i) the aggregate Purchase Rights which such Holder or permitted assignee could have acquired if it had held the number of shares of Common Stock acquirable upon exercise of this Warrant immediately before the grant, issuance or sale of such Purchase Rights; provided that if any Purchase Rights were distributed to holders of Common Stock without the payment of additional consideration by such holders, corresponding Purchase Rights shall be distributed to the exercising Holder as soon as possible after such exercise, and it shall not be necessary for the exercising Holder specifically to request delivery of such rights; or (ii) in the event that any such Purchase Rights shall have expired or shall expire prior to the end of said thirty (30-) day period, the number of shares of Common Stock or the amount of property which such Holder could have acquired upon such exercise at the time or times at which the Company granted, issued or sold such expired Purchase Rights.

Appears in 1 contract

Samples: Insynq Inc

Time is Money Join Law Insider Premium to draft better contracts faster.