Common use of Reports as to Adjustments Clause in Contracts

Reports as to Adjustments. Whenever the number of shares of Common Stock into which the shares of the Series D Preferred Stock are convertible is adjusted as provided in Section 6, the Corporation shall (a) promptly compute such adjustment and furnish to each transfer agent or person acting in a similar capacity, for the Series D Preferred Stock, a certificate, signed by a principal financial officer of the Corporation, setting forth the number of shares of Common Stock into which each share of Series D Preferred Stock is convertible as a result of such adjustment and the computation thereof and when such adjustment will become effective and (b) promptly mail to the holders of record of the outstanding shares of the Series D Preferred Stock a notice stating that the number of shares into which the shares of Series D Preferred Stock are convertible has been adjusted and setting forth the new number of shares into which each share of the Series D Preferred Stock is convertible as a result of such adjustment and when such adjustment will become effective.

Appears in 1 contract

Samples: Securities Purchase Agreement (Network 1 Security Solutions Inc)

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Reports as to Adjustments. Whenever the number of shares of Common Stock stock into which the shares of the Series D C Preferred Stock are convertible is adjusted as provided in Section 6, the Corporation shall (aA) promptly compute such adjustment and furnish to each transfer agent or person acting in a similar capacity, including the Corporation, for the Series D C Preferred Stock, a certificate, signed by a principal financial officer of the Corporation, setting forth the number of shares of Common Stock into which each share of Series D C Preferred Stock is convertible as a result of such adjustment and the computation thereof and when such adjustment will become effective and (bB) promptly mail to the holders of record of the outstanding shares of the Series D C Preferred Stock a notice stating that the number of shares into which the shares of Series D C Preferred Stock are convertible has been adjusted and setting forth the new number of shares into which each share of the Series D C Preferred Stock is convertible as a result of such adjustment and when such adjustment will become effective.

Appears in 1 contract

Samples: Exchange Agreement (Network 1 Security Solutions Inc)

Reports as to Adjustments. Whenever the number of shares of Common Stock into which the shares of the Series D E Preferred Stock are convertible is adjusted as provided in Section 67, the Corporation shall (a) promptly compute such adjustment and furnish to each transfer agent or person acting in a similar capacity, for the Series D E Preferred Stock, a certificate, signed by a principal financial officer of the Corporation, setting forth the number of shares of Common Stock into which each share of Series D E Preferred Stock is convertible as a result of such adjustment and the computation thereof and when such adjustment will become effective and (b) promptly mail to the holders of record of the outstanding shares of the Series D E Preferred Stock a notice stating that the number of shares into which the shares of Series D E Preferred Stock are convertible has been adjusted and setting forth the new number of shares into which each share of the Series D E Preferred Stock is convertible as a result of such adjustment and when such adjustment will become effective.

Appears in 1 contract

Samples: Securities Purchase Agreement (Network 1 Security Solutions Inc)

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Reports as to Adjustments. Whenever the number of shares of Common Stock into which the shares of the Series D 7% Preferred Stock are convertible is adjusted as provided in Section 66.9, the Corporation shall (aA) promptly compute such adjustment and furnish to each transfer agent or person acting in a similar capacity, for the Series D 7% Preferred Stock, Stock a certificate, signed by a principal financial officer of the Corporation, setting forth the number of shares of Common Stock into which each share of Series D the 7% Preferred Stock is convertible as a result of such adjustment, a brief statement of the facts requiring such adjustment and the computation thereof and when such adjustment will become effective and (bB) promptly mail to the holders of record of the outstanding shares of the Series D 7% Preferred Stock a notice stating that the number of shares into which the shares of Series D 7% Preferred Stock are convertible has been adjusted and setting forth the new number of shares into which each share of the Series D 7% Preferred Stock is convertible as a result of such adjustment and when such adjustment will become effective.

Appears in 1 contract

Samples: Master Agreement (Toy Biz Inc)

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