Common use of Treatment of Expired Options and Unexercised Convertible Securities Clause in Contracts

Treatment of Expired Options and Unexercised Convertible Securities. Upon the expiration of any Option or the termination of any right to convert or exchange any Convertible Securities without the exercise of such Option or right, the Conversion Price then in effect hereunder shall be adjusted immediately to the Conversion Price which would have been in effect at the time of such expiration or termination had such Option or Convertible Securities, to the extent outstanding immediately prior to such expiration or termination, never been issued; provided, that if such expiration or termination would result in an increase in the Conversion Price then in effect, such increase shall not be effective until thirty (30) calendar days after written notice thereof has been given to all Payees. For purposes of this Section 8(c), the expiration or termination of any Option or Convertible Security which was outstanding as of the date of issuance of this Note shall not cause the Conversion Price hereunder to be adjusted unless, and only to the extent that, a change in the terms of such Option or Convertible Security caused it to be deemed to have been issued after the date of issuance of this Note.

Treatment of Expired Options and Unexercised Convertible Securities. Upon the expiration of any Option or the termination of any right to convert or exchange any Convertible Securities Security without the exercise of any such Option or right, the Conversion Price then in effect hereunder shall be adjusted immediately to the Conversion Price which would have been in effect at the time of such expiration or termination had such Option or Convertible SecuritiesSecurity, to the extent outstanding immediately prior to such expiration or termination, never been issued; provided, provided that if such expiration or termination would result in an increase in the Conversion Price then in effect, such increase shall not be effective until thirty (30) calendar 30 days after written notice thereof has been given to all Payeesholders of the Loans. For purposes of this Section 8(c)paragraph 1C, the expiration or termination of any Option or Convertible Security which was outstanding as of the date of issuance of this Note the Loans shall not cause the Conversion Price hereunder to be adjusted unless, and only to the extent that, a change in the terms of such Option or Convertible Security caused it to be deemed to have been issued after the date of issuance of this Notethe Loans.

Treatment of Expired Options and Unexercised Convertible Securities. Upon the expiration of any Option or the termination of any right to convert or exchange any Convertible Securities Security without the exercise of any such Option or right, the Conversion Price then in effect hereunder shall be adjusted immediately to the Conversion Price which would have been in effect at the time of such expiration or termination had such Option or Convertible SecuritiesSecurity, to the extent outstanding immediately prior to such expiration or termination, never been issued; provided, provided that if such expiration or termination would result in an increase in the Conversion Price then in effect, such increase shall not be effective until thirty (30) calendar 30 days after written notice thereof has been given to all Payeesholders of the Series A Preferred and Series B Preferred. For purposes of this Section 8(c)paragraph 7C, the expiration or termination of any Option or Convertible Security which was outstanding as of the date of issuance of this Note the Series A Preferred and Series B Preferred shall not cause the Conversion conversion Price hereunder to be adjusted unless, and only to the extent that, a change in the terms of such Option or Convertible Security caused it to be deemed to have been issued after the date of issuance of this Notethe Series A Preferred and Series B Preferred.

Treatment of Expired Options and Unexercised Convertible Securities. Upon the expiration of any Option or the termination of any right to convert or exchange any Convertible Securities Security without the exercise of any such Option or right, the Series A Conversion Price then in effect hereunder shall be adjusted immediately to the Series A Conversion Price which that would have been in effect at the time of such expiration or termination had such Option or Convertible SecuritiesSecurity, to the extent outstanding immediately prior to such expiration or termination, never been issued; provided, that that, if such expiration or termination would result in an increase in the Series A Conversion Price then in effect, such increase shall not be effective until thirty (30) calendar days after the Corporation will promptly give all holders of Series A Preferred written notice thereof has been given to all Payeesof such increase. For purposes of this Section 8(c7(c)(iv), the expiration or termination of any Option or Convertible Security which that was outstanding as of the date of issuance of this Note Series A Original Issuance Date shall not cause the Series A Conversion Price hereunder to be adjusted unless, and only to the extent that, a change in the terms of such Option or Convertible Security caused it to be deemed to have been issued after the date of issuance of this NoteSeries A Original Issuance Date.

Treatment of Expired Options and Unexercised Convertible Securities. Upon the expiration of any Option or the termination of any right to convert or exchange any Convertible Securities Security without the exercise of any such Option or right, the Conversion Exercise Price then in effect hereunder shall be adjusted immediately to the Conversion Exercise Price which would have been in effect at the time of such expiration or termination had such Option or Convertible SecuritiesSecurity, to the extent outstanding immediately prior to such expiration or termination, never been issued, and the number of shares of Common Stock issuable hereunder shall be correspondingly adjusted; providedPROVIDED, that if such expiration or termination would result in an increase in the Conversion Exercise Price then in effecteffect (and a corresponding decrease in the number of shares Common Stock issuable hereunder), such increase (and corresponding decrease) shall not be effective until thirty (30) calendar 30 days after written notice thereof has been given to all Payeesholders of the Warrants. For purposes of this Section 8(c)SECTION 2B, the expiration or termination of any Option or Convertible Security which was outstanding as of the date Date of issuance of this Note Issuance shall not cause the Conversion Exercise Price or the number of shares Common Stock issuable hereunder to be adjusted unless, and only to the extent that, a change in the terms of such Option or Convertible Security caused it to be deemed to have been issued after the date Date of issuance of this NoteIssuance.

Treatment of Expired Options and Unexercised Convertible Securities. Upon the expiration of any Option or the termination of any right to convert or exchange any Convertible Securities without the exercise of such Option or right, the Conversion Exercise Price then in effect and the number of shares of Warrant Stock acquirable hereunder shall be adjusted immediately to the Conversion Exercise Price and the number of shares which would have been in effect at the time of such expiration or termination had such Option or Convertible Securities, Securities to the extent outstanding immediately prior to such expiration or termination, never been issued; provided, provided that if such expiration or termination would result in an increase in the Conversion Exercise Price then in effect, such increase shall not be effective until thirty (30) calendar 30 days after written notice thereof has been given to all Payeesholders of the Warrants. For purposes of this Section 8(c)Paragraph 2B, the expiration or termination of any Option or Convertible Security which was outstanding d as of the date of issuance of this Note Warrant shall not cause the Conversion Exercise Price hereunder to be adjusted unless, and only to the extent that, a change in the terms of such Option or Convertible Security caused it to be deemed to have been issued after the date of issuance of this NoteWarrant.

Treatment of Expired Options and Unexercised Convertible Securities. Upon the expiration of any Option or the termination of any right to convert or exchange any Convertible Securities Security without the exercise of any such Option or right, the Series C Conversion Price then in effect hereunder shall be adjusted immediately to the Series C Conversion Price which that would have been in effect at the time of such expiration or termination had such Option or Convertible SecuritiesSecurity, to the extent outstanding immediately prior to such expiration or termination, never been issued; provided, that that, if such expiration or termination would result in an increase in the Series C Conversion Price then in effect, such increase shall not be effective until thirty (30) calendar days after the Corporation will promptly give all holders of Series C Preferred written notice thereof has been given to all Payeesof such increase. For purposes of this Section 8(c7(c)(iv), the expiration or termination of any Option or Convertible Security which that was outstanding as of the date of issuance of this Note Series C Original Issuance Date shall not cause the Series C Conversion Price hereunder to be adjusted unless, and only to the extent that, a change in the terms of such Option or Convertible Security caused it to be deemed to have been issued after the date of issuance of this NoteSeries C Original Issuance Date.

Treatment of Expired Options and Unexercised Convertible Securities. Upon the expiration (but not the extension) of any Option or the termination of any right to convert or exchange any Convertible Securities without the exercise of such Option or right, the Conversion Base Price then in effect and the amount of Common Stock acquirable hereunder shall be adjusted immediately to the Conversion Base Price which would have been in effect at the time of such expiration or termination had such Option or Convertible Securities, to the extent outstanding immediately prior to such expiration or termination, never been issued; provided, that if such expiration or termination would result in an increase in the Conversion Base Price then in effect, such increase shall not be effective until thirty (30) calendar 30 days after written notice thereof has been given to all PayeesHolders. For purposes of this Section 8(c)Section, the expiration or termination of any Option or Convertible Security which was outstanding as of the date of issuance of this Note Warrant shall not cause the Conversion Base Price hereunder to be adjusted unless, and only to the extent that, a change in the terms of such Option or Convertible Security caused it to be deemed to have been issued after the date of issuance of this NoteWarrant.

Treatment of Expired Options and Unexercised Convertible Securities. Upon the expiration of any Option or the termination of any right to convert or exchange any Convertible Securities without the exercise of such Option or right, the Conversion Exercise Price then in effect hereunder shall be adjusted immediately to the Conversion Exercise Price which that would have been in effect at the time of such expiration or termination had such Option or Convertible Securities, to the extent outstanding immediately prior to such expiration or termination, never been issued; provided, provided that if such expiration or termination would result in an increase in the Conversion Exercise Price then in effect, such increase shall not be effective until thirty (30) calendar 30 days after written notice thereof has been given to all Payeesholders of the Warrants. For purposes of this Section 8(c)paragraph 2.2, the expiration or termination of any Option or Convertible Security which that was outstanding as of the date Date of issuance Issuance of this Note Warrant shall not cause the Conversion Exercise Price hereunder to be adjusted unless, and only to the extent that, a change in the terms of such Option or Convertible Security caused it to be deemed to have been issued after the date Date of issuance Issuance of this NoteWarrant.

Treatment of Expired Options and Unexercised Convertible Securities. Upon the expiration of any Option or the termination of any right to convert or exchange any Convertible Securities without the exercise of such Option or right, the Conversion Exercise Price then in effect hereunder shall be adjusted immediately to the Conversion Exercise Price which would have been in effect at the time of such expiration or termination had such Option or Convertible Securities, to the extent outstanding immediately prior to such expiration or termination, never been issued; provided, provided that if such expiration or termination would result in an increase in the Conversion Exercise Price then in effect, such increase shall not be effective until thirty (30) calendar 30 days after written notice thereof has been given to all Payeesholders of the Warrants. For purposes of this Section 8(c)paragraph 2B, the expiration or termination of any Option or Convertible Security which was outstanding as of the date of issuance of this Note Warrant shall not cause the Conversion Exercise Price hereunder to be adjusted unless, and only to the extent that, a change in the terms of such Option or Convertible Security caused it to be deemed to have been issued after the date of issuance of this NoteWarrant.

Treatment of Expired Options and Unexercised Convertible Securities. Upon the expiration of any Option or the termination of any right to convert or exchange any Convertible Securities without the exercise of such Option or right, the Conversion Exercise Price then in effect and the amount of Warrant Equity acquirable hereunder shall be adjusted immediately to the Conversion Exercise Price which would have been in effect at the time of such expiration or termination had such Option or Convertible Securities, to the extent outstanding immediately prior to such expiration or termination, never been issued; provided, that if such expiration or termination would result in an increase in the Conversion Exercise Price then in effect, such increase shall not be effective until thirty (30) calendar 30 days after written notice thereof has been given to all PayeesHolders. For purposes of this Section 8(c)Section, the expiration or termination of any Option or Convertible Security which was outstanding as of the date of issuance of this Note Warrant shall not cause the Conversion Exercise Price hereunder to be adjusted unless, and only to the extent that, a change in the terms of such Option or Convertible Security caused it to be deemed to have been issued after the date of issuance of this NoteWarrant.

Treatment of Expired Options and Unexercised Convertible Securities. Upon the expiration of any Option or the termination of any right to convert or exchange any Convertible Securities Security without the exercise of any such Option or right, the Series B Conversion Price then in effect hereunder shall be adjusted immediately to the Series B Conversion Price which that would have been in effect at the time of such expiration or termination had such Option or Convertible SecuritiesSecurity, to the extent outstanding immediately prior to such expiration or termination, never been issued; provided, that that, if such expiration or termination would result in an increase in the Series B Conversion Price then in effect, such increase shall not be effective until thirty (30) calendar days after the Corporation will promptly give all holders of Series B Preferred written notice thereof has been given to all Payeesof such increase. For purposes of this Section 8(c7(c)(iv), the expiration or termination of any Option or Convertible Security which that was outstanding as of the date of issuance of this Note Series B Original Issuance Date shall not cause the Series B Conversion Price hereunder to be adjusted unless, and only to the extent that, a change in the terms of such Option or Convertible Security caused it to be deemed to have been issued after the date of issuance of this NoteSeries B Original Issuance Date.

Treatment of Expired Options and Unexercised Convertible Securities. Upon the expiration of any Option or the termination of any right to convert or exchange any Convertible Securities Security without the exercise of any such Option or right, the Conversion Price then in effect hereunder shall be adjusted immediately to the Conversion Price which would have been in effect at the time of such expiration or termination had such Option or Convertible SecuritiesSecurity, to the extent outstanding immediately prior to such expiration or termination, never been issued; provided, provided that if such expiration or termination would result in an increase in the Conversion Price then in effect, such increase shall not be effective until thirty (30) calendar days after written notice thereof has been given to all Payeesholders of the Notes. For purposes of this Section 8(cparagraph 5(c), the expiration or termination of any Option or Convertible Security which was outstanding as of the date of issuance of this Note the Preferred Stock shall not cause the Conversion Price hereunder to be adjusted unless, and only to the extent that, a change in the terms of such Option or Convertible Security caused it to be deemed to have been issued after the date of issuance of this Note.

Treatment of Expired Options and Unexercised Convertible Securities. Upon the expiration of any Option or the termination of any right to convert or exchange any Convertible Securities Security without the exercise of any such Option or right, the Conversion Exercise Price then in effect hereunder shall be adjusted immediately to the Conversion Exercise Price which would have been in effect at the time of such expiration or termination had such Option or Convertible SecuritiesSecurity, to the extent outstanding immediately prior to such expiration or termination, never been issued; provided, PROVIDED that if such expiration or termination would result in an increase in the Conversion Exercise Price then in effect, such increase shall not be effective until thirty (30) calendar 30 days after written notice thereof has been given to all Payeesthe Holder. For purposes of this Section 8(c2(b), the expiration or termination of any Option or Convertible Security which was outstanding as of the date of issuance of this Note Warrant shall not cause the Conversion Exercise Price hereunder to be adjusted unless, and only to the extent that, a change in the terms of such Option or Convertible Security caused it to be deemed to have been issued after the date of issuance of this Notesuch Warrant.