CIC / IPO Note Conversion Price definition
CIC / IPO Note Conversion Price shall initially be $2.15; provided, however, that (i) if at any time or from time to time on or after the Fourth Amendment Date the Company effects a subdivision of the outstanding Common Stock, or effects a recapitalization, reclassification, split-up or other transaction having substantially the same effect as a subdivision of the outstanding Common Stock, the CIC / IPO Note Conversion Price in effect immediately before that subdivision shall be proportionately decreased; and (ii) if at any time or from time to time on or after the Fourth Amendment Date the Company combines the outstanding shares of Common Stock into a smaller number of shares, or effects a recapitalization, reclassification, or other transaction having substantially the same effect as a combination of the outstanding Common Stock into a smaller number of shares, the CIC / IPO Note Conversion Price in effect immediately before the combination shall be proportionately increased, in each case, with such adjustment to be effective at the close of business on the date the subdivision or combination becomes effective, and following such time all references to the CIC / IPO Note Conversion Price shall mean the CIC / IPO Note Conversion Price as so adjusted.”