Redemption or Conversion of Preferred Stock. If all of the shares of the series of Preferred Stock into which the Warrant Shares are exercisable are redeemed or converted into shares of Common Stock, then this Warrant shall automatically become exercisable for that number of shares of Common Stock equal to the number of shares of Common Stock that would have been received if this Warrant had been exercised in full and the shares of Preferred Stock received thereupon had been simultaneously converted into shares of Common Stock immediately prior to such event, and the Exercise Price shall be automatically adjusted to equal the number obtained by dividing (i) the aggregate Purchase Price of the shares of Preferred Stock for which this Warrant was exercisable immediately prior to such redemption or conversion, by (ii) the number of shares of Common Stock for which this Warrant is exercisable immediately after such redemption or conversion.
Redemption or Conversion of Preferred Stock. Prior to the Closing Date, the Company shall redeem or convert all of its outstanding 7% Convertible Preferred Stock.
Redemption or Conversion of Preferred Stock. If the outstanding shares of the series of the Company’s preferred stock underlying this Warrant are redeemed or converted into shares of common stock, then this Warrant shall automatically become exercisable for that number of shares of common stock equal to the number of shares of common stock that would have been received if this Warrant had been exercised in full and the shares of preferred stock received thereupon had been simultaneously converted into shares of common stock immediately prior to such event, and the Exercise Price shall be automatically adjusted to equal the number obtained by dividing (i) the aggregate purchase price of the shares of preferred stock for which this Warrant was exercisable immediately prior to such redemption or conversion, by (ii) the number of shares of common stock for which this Warrant is exercisable immediately after such redemption or conversion. Thereafter all references herein to Shares or preferred stock shall be deemed to refer to common stock.
Redemption or Conversion of Preferred Stock. If all of the Series BB Preferred Stock is redeemed or converted into shares of Common Stock (including without limitation pursuant to the automatic conversion provisions of the Company’s certificate of incorporation providing for the conversion of the Series BB Preferred Stock into Common Stock in connection with a qualified initial public offering of the Company’s securities), then this Warrant shall automatically become exercisable for that number of shares of Common Stock equal to the number of shares of Common Stock that would have been received if this Warrant had been exercised in full and the shares of Series BB Preferred Stock received thereupon had been simultaneously converted into shares of Common Stock immediately prior to such event, and the Purchase Price shall be automatically adjusted to equal the amount obtained by multiplying the then existing Purchase Price by a fraction, (i) the numerator of which shall be the aggregate Purchase Price of the shares of Series BB Preferred Stock for which this Warrant was exercisable immediately prior to such redemption or conversion, and (ii) the denominator of which shall be the number of shares of Common Stock for which this Warrant is exercisable immediately after such redemption or conversion.
