Common use of No Fractional Shares and Certificate as to Adjustments Clause in Contracts

No Fractional Shares and Certificate as to Adjustments. (i) No fractional shares shall be issued upon the conversion of any share or shares of the Preferred Stock, and the number of shares of Common Stock to be issued shall be rounded to the nearest whole share. Whether or not fractional shares are issuable upon such conversion shall be determined on the basis of the total number of shares of Preferred Stock the holder is at the time converting into Common Stock and the number of shares of Common Stock issuable upon such aggregate conversion. (ii) Upon the occurrence of each adjustment or readjustment of the Conversion Price of Preferred Stock pursuant to this Section 3, this corporation, at its expense, shall promptly compute such adjustment or readjustment in accordance with the terms hereof and prepare and furnish to each holder of Preferred Stock a certificate setting forth such adjustment or readjustment and showing in detail the facts upon which such adjustment or readjustment is based. This corporation shall, upon the written request at any time of any holder of Preferred Stock, furnish or cause to be furnished to such holder a like certificate setting forth (A) such adjustment and readjustment, (B) the Conversion Price for such series of Preferred Stock at the time in effect, and (C) the number of shares of Common Stock and the amount, if any, of other property which at the time would be received upon the conversion of a share of Preferred Stock.

Appears in 1 contract

Samples: Warrant Agreement (Releasenow Com Corp)

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No Fractional Shares and Certificate as to Adjustments. (i1) No fractional shares shall be issued upon the conversion of this Debenture or any share or shares of the Preferred Stockportion thereof, and the number of shares of Common Stock to be issued shall be rounded to the nearest whole share. Whether or not fractional shares are issuable upon such conversion shall be determined on the basis of the total number principal amount of shares of Preferred Stock the holder this Debenture that Holder is at the time converting into Common Stock and the number of shares of Common Stock and the number of shares of Common Stock issuable upon such aggregate conversion. (ii2) Upon the occurrence of each adjustment or readjustment of the Conversion Price of Preferred Stock pursuant to this Section 32, this corporationHybrid, at its expense, shall promptly compute such adjustment or readjustment in accordance with the terms hereof and prepare and furnish to each holder of Preferred Stock Holder a certificate setting forth such adjustment or readjustment and showing in detail the facts upon which such adjustment or readjustment is based. This corporation shall, Hybrid shall upon the written request at any time of any holder of Preferred StockHolder, furnish or cause to be furnished to such holder Holder a like certificate setting selling forth (A) such adjustment and readjustment, (B) the Conversion Price for such series of Preferred Stock at the time in effect, effect and (C) the number of shares of Common Stock and the amount, if any, of other property which at the time would be received upon the conversion of a share of Preferred Stockthe Debenture.

Appears in 1 contract

Samples: Senior Secured Convertible Debenture Purchase Agreement (Hybrid Networks Inc)

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No Fractional Shares and Certificate as to Adjustments. (i1) No fractional shares shall be issued upon the conversion of this Debenture or any share or shares of the Preferred Stockportion thereof, and the number of shares of Common Stock to be issued shall be rounded to the nearest whole share. Whether or not fractional shares are issuable upon such conversion shall be determined on the basis of the total number principal amount of shares of Preferred Stock the holder this Debenture that Holder is at the time converting into Common Stock and the number of shares of Common Stock and the number of shares of Common Stock issuable upon such aggregate conversion. (ii2) Upon the occurrence of each adjustment or readjustment of the Conversion Price of Preferred Stock pursuant to this Section 32, this corporationHybrid, at its expense, shall promptly compute such adjustment or readjustment in accordance with the terms hereof and prepare and furnish to each holder of Preferred Stock Holder a certificate setting forth such adjustment or readjustment and showing in detail the facts upon which such adjustment or readjustment is based. This corporation shall, Hybrid shall upon the written request at any time of any holder of Preferred StockHolder, furnish or cause to be furnished to such holder Holder a like certificate setting forth (A) such adjustment and readjustment, (B) the Conversion Price for such series of Preferred Stock at the time in effect, effect and (C) the number of shares of Common Stock and the amount, if any, of other property which at the time would be received upon the conversion of a share of Preferred Stockthe Debenture.

Appears in 1 contract

Samples: Senior Secured Convertible Debenture Purchase Agreement (Hybrid Networks Inc)

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