The Reverse Split Ratio Sample Clauses

The Reverse Split Ratio. In connection with and as part of the Charter Amendment, the Company agrees to take all actions necessary and appropriate to cause each outstanding share of Common Stock to be split into, and without any further action on the part of the holder thereof, to become and thereafter represent .0400 shares (the "Reverse Split") of Common Stock, subject to adjustment as set forth in this paragraph (c), with effect as of the Charter Amendment Effective Time. The parties acknowledge and agree that the foregoing ratio was calculated on the assumption of 26,931,212 shares (the "Assumed Share Amount") of Common Stock outstanding and underlying any Below-Threshold Options (as defined below), which number has been derived from the representations of the Company. If the actual aggregate number of shares of Common Stock outstanding and underlying any Below-Threshold Options that theretofore have not been canceled pursuant to Section 6.8 exceeds the Assumed Share Amount by more than 150,000 shares (calculated on a pre-reverse split basis two business days prior to the Notes Exchange Closing), the Company shall proportionately increase the number of shares of Capital Stock to be issued as Notes Exchange Consideration pursuant to Section 1.2(a)(iii) and the number of shares of Common Stock underlying the New Equity Plan and the Series A Warrants to be issued in the Loan Exchange and shall provide such reasonable written support therefor at the Notes Exchange Closing.
Sample 1
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Related to The Reverse Split Ratio

  • Reverse Split The Company has taken all necessary corporate action to effectuate a reverse split of its issued and outstanding Common Stock and preferred stock on the basis of one (1) such share for each 2.67 shares of issued and outstanding Common Stock and Preferred Stock, as applicable (the “Reverse Split”), and such Reverse Split became effective on June 22, 2020.

  • Reverse Splits The Borrower effectuates a reverse split of its Common Stock without twenty (20) days prior written notice to the Holder.

  • Current Ratio The Borrower will not permit, as of the last day of any fiscal quarter, its ratio of (i) consolidated current assets (including the unused amount of the total Commitments, but excluding non-cash assets under FAS 133) to (ii) consolidated current liabilities (excluding non-cash obligations under FAS 133 and current maturities under this Agreement) to be less than 1.0 to 1.0.

  • Capitalization Ratio Permit the ratio of Consolidated Debt of the Borrower to Consolidated Capital of the Borrower to exceed .58 to 1.00.

  • Stock Splits and Reverse Splits In the event that the Company shall at any time subdivide its outstanding shares of Common Stock into a greater number of shares, the Exercise Price in effect immediately prior to such subdivision shall be proportionately reduced and the number of Warrant Shares purchasable pursuant to this Warrant immediately prior to such subdivision shall be proportionately increased, and conversely, in the event that the outstanding shares of Common stock shall at any time be combined into a smaller number of shares, the Exercise Price in effect immediately prior to such combination shall be proportionately increased and the number of Warrant Shares purchasable upon the exercise of this Warrant immediately prior to such combination shall be proportionately reduced. Except as provided in this Section 3.4, no adjustment in the Exercise Price and no change in the number of Warrant Shares purchasable shall be made under this Article III as a result of or by reason of any such subdivision or combination.

  • Debt to Capitalization Ratio As of the last day of each fiscal quarter of the Borrower, the Debt to Capitalization Ratio shall be less than or equal to 0.70 to 1.0.

  • Total Net Leverage Ratio Holdings and its Restricted Subsidiaries, on a consolidated basis, shall not permit the Total Net Leverage Ratio on the last day of any Test Period to exceed the ratio set forth below opposite the last day of such Test Period:

  • Reverse Stock Split The Company has taken all necessary corporate action to effectuate a reverse stock split of its shares of Common Stock on the basis of one (1) such share for each [•] ([•]) issued and outstanding shares thereof (the “Reverse Stock Split”), such Reverse Stock Split to be effective no later than the first trading day of the Firm Shares following the date hereof.

  • Funded Debt Ratio Permit the Funded Debt Ratio, as of the last day of any Fiscal Quarter, to be greater than the ratio set forth below opposite such Fiscal Quarter or the period during which such Fiscal Quarter ends: Period/Fiscal Quarter Maximum Ratio December 31, 2002 3.50:1.00 March 31, 2003 2.60:1.00 June 30, 2003 2.50:1.00 September 30, 2003 2.00:1.00 December 31, 2003 through March 31, 2004 1.75:1.00 April 1, 2004 through December 31, 2004 1.50:1.00

  • Conversion Ratio The “Conversion Ratio” for each share of Series A Preferred Stock shall be equal to the Stated Value divided by the Conversion Price.

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