Common use of Void Conversion Notice; Adjustment of Conversion Price Clause in Contracts

Void Conversion Notice; Adjustment of Conversion Price. If for any reason a Holder has not received all of the shares of Common Stock to which such Holder is entitled prior to the fifth (5th) Trading Day after the Share Delivery Date with respect to a conversion of Preferred Shares, then the Holder, upon written notice to the Company, with a copy to the Transfer Agent, may void its Conversion Notice with respect to, and retain or have returned, as the case may be, any Preferred Shares that have not been converted pursuant to such Holder's Conversion Notice; provided that the voiding of a Holder's Conversion Notice shall not affect the Company's obligations to make any payments which have accrued prior to the date of such notice pursuant to Section 2(c)(v)(A) or otherwise.

Appears in 4 contracts

Samples: Agreement of Merger and Plan of Reorganization (Eon Communications Corp), Exchange Agreement (Eon Communications Corp), Securities Purchase Agreement (Eon Communications Corp)

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Void Conversion Notice; Adjustment of Conversion Price. If for any reason a Holder has not received all of the shares of Common Stock to which such Holder is entitled prior to the fifth (5th) Trading Business Day after the Share Delivery Date with respect to a conversion of Preferred Shares, then the Holder, upon written notice to the Company, with a copy to the Transfer Agent, may void its Conversion Notice with respect to, and retain or have returned, as the case may be, any Preferred Shares that have not been converted pursuant to such Holder's Conversion Notice; provided that the voiding of a Holder's Conversion Notice shall not affect effect the Company's obligations to make any payments which have accrued prior to the date of such notice pursuant to Section 2(c)(v)(A2(d)(v)(A) or otherwise.

Appears in 2 contracts

Samples: Subordination Agreement (Prentice Capital Management, LP), Subordination Agreement (Sac Capital Advisors LLC)

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Void Conversion Notice; Adjustment of Conversion Price. If for any reason a Holder has not received all of the shares of Common Stock to which such Holder is entitled prior to the fifth (5th) Trading Business Day after the Share Delivery Date with respect to a conversion of Preferred Shares, then the Holder, upon written notice to the Company, with a copy to the Transfer Agent, may void its Conversion Notice with respect to, and retain or have returned, as the case may be, any Preferred Shares that have not been converted pursuant to such Holder's ’s Conversion Notice; provided that the voiding of a Holder's ’s Conversion Notice shall not affect effect the Company's ’s obligations to make any payments which have accrued prior to the date of such notice pursuant to Section 2(c)(v)(A3(c)(v)(A) or otherwise.

Appears in 1 contract

Samples: Securities Purchase Agreement (Act Teleconferencing Inc)

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