Stock Dividends, Distributions or Subdivisions. In the event that, at any time and from time to time from and after the date of this Note, the Maker shall issue additional shares of Common Stock (or securities convertible into Common Stock) in a stock dividend, stock distribution or subdivision paid with respect to Common Stock, or declare any dividend or other distribution payable in additional shares of Common Stock (or securities convertible into Common Stock) or effect a split or subdivision of the outstanding shares of Common Stock, then, concurrently with the effectiveness of such stock dividend, stock distribution or subdivision, the then-effective Conversion Price shall be proportionately decreased, and the number of shares of Common Stock issuable upon conversion of this Note shall thus be proportionately increased. The Maker shall not, at any time, take any action which would cause the Conversion Price to be reduced to an amount less than the par value per share of the class of stock into which this Note is convertible.
Appears in 9 contracts
Samples: Convertible Promissory Note (SaasMAX, Inc.), Convertible Promissory Note (SaasMAX, Inc.), Convertible Promissory Note (SaasMAX, Inc.)
