Common use of Voluntary Adjustment by the Corporation Clause in Contracts

Voluntary Adjustment by the Corporation. The Corporation may at its option, at any time during the term of the Series B Preferred Stock, reduce the then current Conversion Price to any amount deemed appropriate by the Board of Directors; provided, however, that if the Corporation elects to make such adjustment, such adjustment will remain in effect for at least a 15-day period, after which time the Corporation may, at its option, reinstate the Conversion Price in effect prior to such reduction, subject to any interim adjustments pursuant to this Section 7(c).

Appears in 3 contracts

Samples: Securities Purchase Agreement (Proxim Corp), Securities Purchase Agreement (Proxim Corp), Preferred Stock and Warrant Purchase Agreement (Avaya Inc)

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Voluntary Adjustment by the Corporation. The Corporation may at its option, at any time during the term of the Series B A Preferred Stock, reduce the then current Series A Conversion Price to any amount deemed appropriate by the Board of Directors; provided, however, that if the Corporation elects to make such adjustment, such adjustment will remain in effect for at least a 15-day period, after which time the Corporation may, at its option, reinstate the Series A Conversion Price in effect prior to such reduction, subject to any interim adjustments pursuant to this Section 7(c)Subsection 4.3.

Appears in 2 contracts

Samples: Transaction Agreement (Shermen WSC Acquisition Corp), Transaction Agreement (Shermen WSC Acquisition Corp)

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Voluntary Adjustment by the Corporation. The Corporation may at its option, at any time during the term of the Series B A Preferred Stock, reduce the then current Conversion Price to any amount deemed appropriate by the Board of Directors; provided, however, that if the Corporation elects to make such adjustment, such adjustment will remain in effect for at least a 15-day period, after which time the Corporation may, at its option, reinstate the Conversion Price in effect prior to such reduction, subject to any interim adjustments pursuant to this Section 7(c).

Appears in 1 contract

Samples: Securities Purchase Agreement (Proxim Corp)

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