Common use of Organic Changes Clause in Contracts

Organic Changes. In case the Company shall effect an Organic Change, then the Holder shall be given a written notice from the Company informing such Holder of the terms of such Organic Change and of the record date thereof for any distribution pursuant thereto, at least ten days in advance of such record date, and, if such record date shall precede the Maturity Date, the Holder shall have the right thereafter to receive, upon conversion of the Note, the number of shares of stock or other securities, property or assets of the Company, or of its successor or transferee or any affiliate thereof, or cash receivable upon or as a result of such Organic Change that would have been received by a holder of the number of shares of Common Stock equal to the number of shares the Holder would have received had such Holder converted the Note prior to such event at the Conversion Price immediately prior to such event. In any such case, the Company will make appropriate provision (in form and substance reasonably satisfactory to the Holder) with respect to such Holders' rights and interests to insure that the provisions of this Section 3(c)(iii) will thereafter be applicable to the Note (including, in the case of any such Organic Change in which the successor entity or purchasing entity is other than the Company, an immediate adjustment of the Conversion Price to the value for the Common Stock reflected by the terms of such Organic Change, if the value so reflected is less than the Conversion Price in effect immediately prior to such Organic Change). The Company will not effect any such Organic Change unless prior to the consummation thereof the successor entity (if other than the Company) resulting from such Organic Change assumes, by written instrument (in form and substance satisfactory to the Holder), the obligation to deliver to Holder such shares of stock, securities or assets as, in accordance with the foregoing provisions, such Holder may be entitled to acquire. The provisions of this subparagraph (iii) shall similarly apply to successive Organic Changes.

Organic Changes. In case 7.1 Any reorganisation, merger, reconstruction or amalgamation of the Company shall effect an and/or its Subsidiaries or any sale of all or substantially all of the assets of the Company and its Subsidiaries (taken as a whole) to another Person or any other transaction which in any such case is effected in such a way that holders of Ordinary Shares are entitled to receive shares, securities or assets of any Person other than the Company (including, without limitation, cash) in exchange for or by way of consideration for the cancellation of, or with respect to, Ordinary Shares is referred to herein as “Organic Change”. 7.2 Prior to the completion of any: (a) sale of all or substantially all of the assets of the Company and its Subsidiaries; or (b) any Organic Change following which the Company is to become the subsidiary of another Person or to be wound up the Company will secure from the Person purchasing such assets or the acquiring company or successor resulting from such Organic Change (in each case, then the Holder shall be given “Acquiring Entity”) a written notice from agreement (in form and substance reasonably satisfactory to the Company informing holders of Warrants representing a majority of the Warrant Shares outstanding under the Warrants) to deliver to each holder of Warrants in exchange for such Holder Warrants, a convertible security of the Acquiring Entity evidenced by a written instrument substantially similar in form and substance to this Warrant and reasonably satisfactory to the Holders (and the terms of such Organic Change and security (including, for the avoidance of the record date thereof for any distribution pursuant thereto, at least ten days in advance of such record date, and, if such record date shall precede the Maturity Datedoubt, the Holder shall have the right thereafter to receive, upon conversion of the Note, exercise price and the number of shares in the Acquiring Entity in respect of stock or other securitieswhich such new warrant may be exercised) shall, property or assets without limitation, reflect the value of the Company, or of its successor or transferee or any affiliate thereof, or cash receivable upon or as a result Ordinary Shares at the time of such sale or Organic Change that would have been received by a holder of the number of shares of Common Stock equal Change). 7.3 Prior to the number consummation of shares the Holder would have received had such Holder converted the Note prior to such event at the Conversion Price immediately prior to such event. In any such caseother Organic Change, the Company will shall make appropriate provision (in form and substance reasonably satisfactory to the holders of Warrants representing a majority of the Warrant Shares outstanding under the Warrants) to ensure that each of the Holders will thereafter have the right to acquire and receive, in lieu of or in addition to (as the case may be) the Ordinary Shares immediately theretofore acquirable and receivable upon the exercise of such Holder) ’s Warrants, such shares, securities or assets that would have been issued or transferred in such Organic Change with respect to or in exchange for the number of Ordinary Shares which would have been acquirable and receivable upon the exercise of such Holders' rights and interests to insure that the provisions of this Section 3(c)(iii) will thereafter be applicable to the Note (including, in the case of any such Organic Change in which the successor entity or purchasing entity is other than the Company, an immediate adjustment Holder’s Warrants as of the Conversion Price to the value for the Common Stock reflected by the terms date of such Organic Change, if the value so reflected is less than the Conversion Price in effect immediately prior to such Organic Change). . 7.4 The Company will not effect any such Organic Change unless prior give written notice to the consummation thereof Holder of any transaction or matter which will constitute an Organic Charge at the successor entity (if other than same time as such information is made known to the Company) resulting from such Organic Change assumes, by written instrument (in form and substance satisfactory to the Holder), the obligation to deliver to Holder such shares of stock, securities ’s shareholders or assets as, in accordance with the foregoing provisions, such Holder may be entitled to acquire. The provisions of this subparagraph (iii) shall similarly apply to successive Organic Changesis publicly announced.

Organic Changes. In case the Company shall effect an Organic Change, then the Holder shall be given a written notice from the Company informing such Holder of the terms of such Organic Change and of the record date thereof for any distribution pursuant thereto, at least ten twenty (20) days in advance of such record date, and, if such record date shall precede the Maturity Date, the Holder shall have the right thereafter to receive, upon conversion of the Note, the number of shares of stock or other securities, property or assets of the Company, or of its successor or transferee or any affiliate thereof, or cash receivable upon or as a result of such Organic Change that would have been received by a holder of the number of shares of Common Stock equal to the number of shares the Holder would have received had such Holder converted the Note prior to such event at the Conversion Price immediately prior to such event. In any such case, the Company will make appropriate provision (in form and substance reasonably satisfactory to the Holder) with respect to such Holders' rights and interests to insure that the provisions of this Section 3(c)(iii) will thereafter be applicable to the Note (including, in the case of any such Organic Change in which the successor entity or purchasing entity is other than the Company, an immediate adjustment of the Conversion Price to the value for the Common Stock reflected by the terms of such Organic Change, if the value so reflected is less than the Conversion Price in effect immediately prior to such Organic Change). The Company will not effect any such Organic Change unless prior to the consummation thereof the successor entity (if other than the Company) resulting from such Organic Change assumes, by written instrument (in form and substance satisfactory to the Holder), the obligation to deliver to Holder such shares of stock, securities or assets as, in accordance with the foregoing provisions, such Holder may be entitled to acquire. The provisions of this subparagraph (iii) shall similarly apply to successive Organic Changes.

Organic Changes. (a) In the event of an Organic Change, in each case in which holders of Common Stock would be entitled to receive cash, securities or other property for their shares of Common Stock, each share of Series A Preferred Stock outstanding immediately prior to such Organic Change shall (subject to redemption or conversion of such share in accordance with this Certificate of Designations), without the Company shall effect an consent of the holder thereof, upon the consummation of such Organic Change, become convertible into, in lieu of shares of Common Stock, the cash, securities and other property receivable in such Organic Change in respect of Common Stock issuable upon conversion of such share of Series A Preferred Stock (such cash, securities and other property, the “OC Property”). (b) In the event that holders of the shares of the Common Stock have the opportunity to elect the form of consideration to be received in the Organic Change, then the Holder “OC Property” that holders of Series A Preferred Stock shall be given a written notice entitled to receive shall be determined at the option of such holders. The number of units of OC Property receivable with respect to each share of Series A Preferred Stock converted in connection with the Organic Change shall be determined from among the Company informing such Holder choices made available to the holders of the terms of such Organic Change and Common Stock based on the Conversion Price then in effect on the effective date of the record date thereof for any distribution pursuant theretoOrganic Change, at least ten days in advance of such record date, and, determined as if such record date shall precede the Maturity Date, the Holder shall have the right thereafter references to receive, upon conversion of the Note, the number of shares of stock or other securities, property or assets of the Company, or of its successor or transferee or any affiliate thereof, or cash receivable upon or as a result of such Organic Change that would have been received by a holder of the number of “shares of Common Stock equal Stock” in this Certificate of Designations were to the number “units of shares the Holder would have received had such Holder converted the Note prior OC Property.” (c) The terms of any agreement pursuant to such event at the Conversion Price immediately prior to such event. In which an Organic Change is effected shall include terms requiring any such case, the Company will make appropriate provision (in form and substance reasonably satisfactory successor or surviving entity to the Holder) comply with respect to such Holders' rights and interests to insure that the provisions of this Section 3(c)(iii9 and ensuring that the Series A Preferred Stock (or any replacement security) will thereafter be applicable similarly adjusted upon any subsequent transaction involving such successor or surviving entity constituting an Organic Change. (d) The Corporation shall provide written notice to the Note (including, in the case of any such Organic Change in which the successor entity or purchasing entity is other than the Company, an immediate adjustment holders of the Conversion Price to the value for the Common Series A Preferred Stock reflected by the terms of such Organic Change, if the value so reflected is less than the Conversion Price in effect immediately prior to such Organic Change). The Company will not effect any such Organic Change unless at least 20 days prior to the consummation thereof the successor entity (if other than the Company) resulting from such date on which any Organic Change assumesshall take place and such written notice shall include, by written instrument (in form and substance satisfactory to the Holder)without limitation, the obligation to deliver to Holder such shares kind and amount of stockthe cash, securities or assets as, in accordance with other property that constitutes the foregoing provisions, OC Property. Failure to deliver such Holder may be entitled to acquire. The provisions notice shall not affect the operation of this subparagraph (iii) shall similarly apply to successive Section 9 or the validity of any Organic ChangesChange.

Organic Changes. Any recapitalization, reorganization, reclassification, consolidation, merger, sale of all or substantially all of the Company's assets (in one or a series of related transactions) to another person or entity or other transaction which is effected in such a way that holders of Common Stock are entitled to receive (either directly or upon subsequent liquidation) stock, securities or assets with respect to or in exchange for Common Stock is referred to herein as an "Organic Change". In case the Company shall effect an Organic Change, then the Holder shall be given a written notice from the Company informing such Holder of the terms of such Organic Change and of the record date thereof for any distribution pursuant thereto, at least ten days in advance of such record date, and, if such record date shall precede the Maturity Date, the Holder shall have the right thereafter to receive, upon conversion of the Note, the number of shares of stock or other securities, property or assets of the Company, or of its successor or transferee or any affiliate thereof, or cash receivable upon or as a result of such Organic Change that would have been received by a holder of the number of shares of Common Stock equal to the number of shares the Holder would have received had such Holder converted the Note prior to such event at the Conversion Price immediately prior to such event. In any such case, the Company will make appropriate provision (in form and substance reasonably satisfactory to the HolderInvestor) with respect to such Holders' rights and interests to insure that the provisions of this Section 3(c)(iii1.6(b)(iii) will thereafter be applicable to the Note Purchase Option (including, in the case of any such Organic Change in which the successor entity or purchasing entity is other than the Company), an immediate adjustment such that the securities issuable upon exercise of the Conversion Purchase Option shall be the securities to which the Investor would have been entitled to receive, and the Purchase Option Exercise Price to the value for the Common Stock reflected by the terms of such Organic Changeshall be ratably adjusted, as if the value so reflected is less than Investor had fully exercised the Conversion Price in effect unexercised portion of the Purchase Option immediately prior to such the Organic Change). The Company will not effect any such Organic Change unless prior to the consummation thereof thereof, the successor entity (if other than the Company) resulting from such Organic Change assumes, by written instrument (in form and substance satisfactory to the HolderInvestor), the obligation to deliver to Holder the Investor such shares of stock, securities or assets as, in accordance with the foregoing provisions, such Holder the Investor may be entitled to acquireacquire or receive. The provisions of this subparagraph (iii) shall similarly apply to successive Organic Changes.

Organic Changes. In case the Company shall effect an Organic Change, then the Holder shall be given a written notice from the Company informing such Holder of the terms of such Organic Change and of the record date thereof for any distribution pursuant thereto, at least ten twenty (20) days in advance of such record date, and, if such record date shall precede the Maturity Date, the Holder shall have the right thereafter to receive, upon conversion of the this Note, the number of shares of stock or other securities, property or assets of the Company, or of its successor or transferee or any affiliate thereof, or cash receivable upon or as a result of such Organic Change that would have been received by a holder of the number of shares of Common Stock equal to the number of shares the Holder would have received had such Holder converted the this Note -E 120- prior to such event at the Conversion Price immediately prior to such event. In any such case, the Company will make appropriate provision (in form and substance reasonably satisfactory to the Holder) with respect to such Holders' Holder's rights and interests to insure that the provisions of this Section 3(c)(iii) will thereafter be applicable to the this Note (including, in the case of any such Organic Change in which the successor entity or purchasing entity is other than the Company, an immediate adjustment of the Conversion Price to the value for the Common Stock reflected by the terms of such Organic Change, if the value so reflected is less than the Conversion Price in effect immediately prior to such Organic Change). The Company will not effect any such Organic Change unless prior to the consummation thereof the successor entity (if other than the Company) resulting from such Organic Change assumes, by written instrument (in form and substance satisfactory to the Holder), the obligation to deliver to Holder such shares of stock, securities or assets as, in accordance with the foregoing provisions, such Holder may be entitled to acquire. The provisions of this subparagraph (iii) shall similarly apply to successive Organic Changes.

Organic Changes. In case the Company shall effect an Organic Change, then the Holder shall be given a written notice from the Company informing such Holder of the terms of such Organic Change and of the record date thereof for any distribution pursuant thereto, at least ten twenty (20) days in advance of such record date, and, if such record date shall precede the Maturity Date, the Holder shall have the right thereafter to receive, upon conversion of the this Note, the number of shares of stock or other securities, property or assets of the CompanyQSGI, or of its successor or transferee or any affiliate thereof, or cash receivable upon or as a result of such Organic Change that would have been received by a holder of the number of shares of Common Stock equal to the number of shares the Holder would have received had such Holder converted the this Note prior to such event at the Conversion Price immediately prior to such event. In any such case, the Company will make appropriate provision (in form and substance reasonably satisfactory to the Holder) with respect to such Holders' Holder's rights and interests to insure that the provisions of this Section 3(c)(iii6(e) will thereafter be applicable to the this Note (including, in the case of any such Organic Change in which the successor entity or purchasing entity is other than the CompanyQSGI, an immediate adjustment of the Conversion Price to the value for the Common Stock reflected by the terms of such Organic Change, if the value so reflected is less than the Conversion Price in effect immediately prior to such Organic Change). The Company will not effect any such Organic Change unless prior to the consummation thereof thereof, the successor entity (if other than the Company) resulting from such Organic Change assumes, by written instrument (in form and substance satisfactory to the Holder), the obligation to deliver to Holder such shares of stock, securities or assets as, in accordance with the foregoing provisions, such Holder may be entitled to acquire. The provisions of this subparagraph (iiiSection 6(f) shall similarly apply to successive Organic Changes. “Organic Changes” shall mean, any recapitalization, reorganization, reclassification, consolidation, merger, sale of all or substantially all of the Company’s assets to another Person or other transaction which is effected in such a way that holders of Common Stock are entitled to receive (either directly or upon subsequent liquidation) stock, securities or assets with respect to or in exchange for Common Stock.