Securities Issuable Upon Exercise Sample Clauses

Securities Issuable Upon Exercise. Each Person in whose name any certificate for Units (or shares of Common Stock of the Company or other securities, as the case may be) is issued upon the exercise of Rights shall for all purposes be deemed to have become the holder of record of the Units (or shares of Common Stock or other securities, as the case may be) represented thereby on, and the certificate shall be dated, the date upon which the Right Certificate evidencing these Rights was duly surrendered and payment of the Purchase Price, or the applicable portion thereof (and any applicable taxes and governmental charges), was made; provided, however, that if the date of such presentation and payment is a date upon which the transfer books for the Units (or shares of Common Stock of the Company or other securities, as the case may be) are closed, such Person shall be deemed to have become the record holder of such Units (or shares of Common Stock of the Company or other securities) on, and such certificate shall be dated, the next succeeding Business Day on which the transfer books for the Units (or shares of Common Stock of the Company or other securities) are open. Prior to the exercise of the Rights evidenced thereby, the holder of a Right Certificate, as such, shall not be entitled to any rights of a stockholder of the Company with respect to shares for which the Right shall be exercisable, including without limitation, the right to vote, to receive dividends or other distributions or to exercise any preemptive rights, and shall not be entitled to receive any notice of any proceedings of the Company, except as provided herein.

Securities Issuable Upon Exercise. Each Warrant shall, upon exercise, entitle the holder to receive the number and class of securities described as follows: 1.2.1 If the shareholders of Lifeline have received shares of stock in a corporation in exchange for Lifeline shares of Membership Interest (or pursuant to other corporate merger or consolidation) pursuant to which Lifeline is merged into or becomes a subsidiary of a public corporation in connection with a financing arrangement generating at least $2 million of operating capital for Lifeline, each Warrant shall entitle the holder thereof to purchase the number of shares of Common Stock that could be purchased by the dollar amount of the Warrant being exercised at the offering price of the shares sold in the offering (or at the conversion price if the offering is of a convertible security) at a price equal to 80% of the purchase price paid by the investors in such offering. By way of example, if the stock were issued at $1.00 per share (or if the conversion price of a convertible security were $1.00 per share), a Warrant with a face value of $100 would entitle the investor to purchase 100 shares for $80. Fractional shares shall be rounded to the next whole number. 1.2.2 If on or prior to April 1, 2007 Lifeline shall not have consummated an exchange of shares or other merger or consolidation as described in section 1. 2.1 but shall obtain public or private financing of at least $1,000,000 within the following 12 months, each Warrant shall entitle the holder thereof to purchase the amount of securities that could be purchased by the dollar amount of the Warrant being exercised at the offering price in the offering (or at the conversion price if the offering is of a convertible security) at a price equal to 80% of the purchase price paid by the investors in such offering. Fractional shares shall be rounded to the next whole number. 1.2.3 If on or prior to April 1, 2008 no additional public or private financing has been obtained, each Warrant shall entitle the holder thereof to purchase the amount of Class B Membership interests in Lifeline as could have been purchased by the dollar amount of the Warrant being exercised at the price paid by the purchasers of such Class B Membership interests.