Common use of Split up or Combination of Shares Clause in Contracts

Split up or Combination of Shares. In case issued and outstanding shares of Common Stock shall be subdivided or split up into a greater number of shares of the Common Stock, the Conversion Price shall be proportionately decreased, and in case issued and outstanding shares of Common Stock shall be combined into a smaller number of shares of Common Stock, the Conversion Price shall be proportionately increased, such increase or decrease, as the case may be, becoming effective at the time of record of the split-up or combination, as the case may be.

Appears in 15 contracts

Samples: Security Agreement (Uni-Pixel), Security Agreement (Uni-Pixel), Security Agreement (Rapid Link Inc)

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Split up or Combination of Shares. In case the event issued and outstanding shares of Common Stock shall be subdivided or split up into a greater number of shares of the Common Stock, the Conversion Price shall be proportionately decreased, and in case the event issued and outstanding shares of Common Stock shall be combined into a smaller number of shares of Common Stock, the Conversion Price shall be proportionately increased, such increase or decrease, as the case may be, becoming effective at the time of record of the split-up or combination, as the case may be.

Appears in 2 contracts

Samples: Convertible Note (Digital Descriptor Systems Inc), Convertible Note (Digital Descriptor Systems Inc)

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Split up or Combination of Shares. In Except for the stock split described in Schedule 1.1 of the Purchase Agreement, in case issued and outstanding shares of Common Stock shall be subdivided or split up into a greater number of shares of the Common Stock, the Conversion Price shall be proportionately decreased, and in case issued and outstanding shares of Common Stock shall be combined into a smaller number of shares of Common Stock, the Conversion Price shall be proportionately increased, such increase or decrease, as the case may be, becoming effective at the time of record of the split-up or combination, as the case may be.

Appears in 1 contract

Samples: Security Agreement (Zone Mining LTD)

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