Common use of Superseding Adjustment Clause in Contracts

Superseding Adjustment. (i) If, at any time after any adjustment of the number of shares of Common Stock into which this Warrant is exercisable and the Current Warrant Price shall have been made pursuant to Section 4.4 as the result of any issuance of Common Stock Equivalents, (x) the right to exercise, convert or exchange all or a portion of such Common Stock Equivalents shall expire unexercised, or (y) the conversion rate or consideration per share for which shares of Common Stock are issuable pursuant to such Common Stock Equivalents shall be increased solely by virtue of provisions therein contained for an automatic increase in such conversion rate or consideration per share upon the occurrence of a specified date or event, then any such previous adjustments to the Current Warrant Price and the number of shares of Common Stock for which this Warrant is exercisable shall be rescinded and annulled and the additional shares of Common Stock which were deemed to have been issued by virtue of the computation made in connection with the adjustment so rescinded and annulled shall no longer be deemed to have been issued by virtue of such computation.

Appears in 6 contracts

Samples: Transmeridian Exploration Inc, GlobalOptions Group, Inc., Note Purchase Agreement (National Coal Corp)

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Superseding Adjustment. (i) If, at any time after any adjustment of the Current Warrant Price and number of shares of Common Warrant Stock into which this Warrant is exercisable and the Current Warrant Price shall have been made pursuant to Section 4.4 as the result of any issuance of Common Stock Equivalents, (x) the right to exercise, convert or exchange all or a portion of such Common Stock Equivalents shall expire unexercised, or (y) the conversion rate or consideration per share for which shares of Common Stock are issuable pursuant to such Common Stock Equivalents shall be increased solely by virtue of provisions therein contained for an automatic increase in such conversion rate or consideration per share upon the occurrence of a specified date or event, then then, unless any of such Common Stock Equivalents have previously been converted or exercised at the original price, any such previous adjustments to the Current Warrant Price and the number of shares of Common Warrant Stock for which this Warrant is exercisable shall be rescinded and annulled and the additional shares Additional Shares of Common Stock which were deemed to have been issued by virtue of the computation made in connection with the adjustment so rescinded and annulled shall no longer be deemed to have been issued by virtue of such computation.

Appears in 3 contracts

Samples: Adera Mines LTD, Warrant Purchase Agreement (Macrochem Corp), Macrochem Corp

Superseding Adjustment. (i) If, at any time after any adjustment of the number of shares of Common Stock into which this Warrant is exercisable and the Current Warrant Price shall have been made pursuant to Section 4.4 as the result of any issuance of Common Stock Equivalents, (x) the right to exercise, convert or exchange all or a portion of such Common Stock Equivalents shall expire unexercised, or (y) the conversion rate or consideration per share for which shares of Common Stock are issuable pursuant to such Common Stock Equivalents shall be increased solely by virtue of provisions therein contained for an automatic increase in such conversion rate or consideration per share upon the occurrence of a specified date or event, then any such previous adjustments to the Current Warrant Price and the number of shares of Common Stock for which this Warrant is exercisable shall be rescinded and annulled and the additional shares Additional Shares of Common Stock which were deemed to have been issued by virtue of the computation made in connection with the adjustment so rescinded and annulled shall no longer be deemed to have been issued by virtue of such computation.

Appears in 3 contracts

Samples: Boston Life Sciences Inc /De, Boston Life Sciences Inc /De, Critical Home Care Inc

Superseding Adjustment. (i) If, at any time after any adjustment of the number of shares of Common Stock into which this Warrant is exercisable and the Current Warrant Price shall have been made pursuant to Section 4.4 as the result of any issuance of Common Stock Equivalents, (x) the right to exercise, convert or exchange all or a portion of such Common Stock Equivalents shall expire unexercised, or (y) the conversion rate or consideration per share for which shares of Common Stock are issuable pursuant to such Common Stock Equivalents shall be increased solely by virtue of provisions therein contained for an automatic increase in such conversion rate or consideration per share upon the occurrence of a specified date or event, then any such previous adjustments to the Current Warrant Price and the number of shares of Common Stock for which this Warrant is exercisable shall be rescinded and annulled and the additional shares Additional Shares of Common Stock which were deemed to have been issued by virtue of the computation made in connection with the adjustment so rescinded and annulled shall no longer be deemed to have been issued by virtue of such computation.

Appears in 3 contracts

Samples: Common Stock Purchase (Transmeridian Exploration Inc), Common Stock Purchase (Transmeridian Exploration Inc), Transmeridian Exploration Inc

Superseding Adjustment. (i) i. If, at any time after any adjustment of the number of shares of Common Stock into which this Warrant is exercisable and the Current Warrant Price shall have been made pursuant to Section 4.4 as the result of any issuance of Common Stock Equivalents, (x) the right to exercise, convert or exchange all or a portion of such Common Stock Equivalents shall expire unexercised, or (y) the conversion rate or consideration per share for which shares of Common Stock are issuable pursuant to such Common Stock Equivalents shall be increased solely by virtue of provisions therein contained for an automatic increase in such conversion rate or consideration per share upon the occurrence of a specified date or event, then any such previous adjustments to the Current Warrant Price and the number of shares of Common Stock for which this Warrant is exercisable shall be rescinded and annulled and the additional shares of Common Stock which were deemed to have been issued by virtue of the computation made in connection with the adjustment so rescinded and annulled shall no longer be deemed to have been issued by virtue of such computation.

Appears in 2 contracts

Samples: Orthovita Inc, Orthovita Inc

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Superseding Adjustment. (i) If, at any time after any adjustment of the number of shares of Common Stock into which this Warrant is exercisable and the Current Warrant Common Price shall have been made pursuant to Section 4.4 5.4 as the result of any issuance of Common Stock Equivalents, (x) the right to exercise, convert or exchange all or a portion of such Common Stock Equivalents shall expire unexercised, or (y) the conversion rate or consideration per share for which shares of Common Stock are issuable pursuant to such Common Stock Equivalents shall be increased solely by virtue of provisions therein contained for an automatic increase in such conversion rate or consideration per share upon the occurrence of a specified date or event, then any such previous adjustments to the Current Warrant Common Price and the number of shares of Common Stock for which this Warrant is exercisable shall be rescinded and annulled and the additional shares of Common Stock which were deemed to have been issued by virtue of the computation made in connection with the adjustment so rescinded and annulled shall no longer be deemed to have been issued by virtue of such computation.

Appears in 1 contract

Samples: TRUEYOU.COM

Superseding Adjustment. (i) If, at any time after any adjustment of the number of shares of Common Series B Preferred Stock into which this Warrant is exercisable and the Current Warrant Preferred Price shall have been made pursuant to Section 4.4 as the result of any issuance of Common Stock Equivalents, (x) the right to exercise, convert or exchange all or a portion of such Common Stock Equivalents shall expire unexercised, or (y) the conversion rate or consideration per share for which shares of Common Stock are issuable pursuant to such Common Stock Equivalents shall be increased solely by virtue of provisions therein contained for an automatic increase in such conversion rate or consideration per share upon the occurrence of a specified date or event, then any such previous adjustments to the Current Warrant Preferred Price and the number of shares of Common Series B Preferred Stock for which this Warrant is exercisable shall be rescinded and annulled and the additional shares of Common Stock which were deemed to have been issued by virtue of the computation made in connection with the adjustment so rescinded and annulled shall no longer be deemed to have been issued by virtue of such computation.

Appears in 1 contract

Samples: TRUEYOU.COM

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