Common Equivalent Basis definition

Common Equivalent Basis means, as of the date of such determination, the number of shares of Common Stock that each holder of Preferred Stock would be entitled to receive upon conversion of such holder’s Preferred Stock into Common Stock.

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Common Equivalent Basis means, as of the date of such determination, (i) in respect of the Series A Preferred, the number of shares of Common that each holder of Series A Preferred would be entitled to receive upon conversion of its Series A Preferred into Common and (ii) in respect of the Pari Passu Preferred, the number of shares of Common that each holder of Pari Passu Preferred would be entitled to receive upon conversion of its Pari Passu Preferred into Common.

Common Equivalent Basis means, as of a specified date, the sum of (i) the number of Common Units outstanding as of such date, plus (ii) the number of Common Units issuable upon conversion, exercise or exchange of any Convertible Securities then outstanding or issuable pursuant to any other agreement or arrangement then in effect as of such date.

Examples of Common Equivalent Basis in a sentence

• Any of the rights, powers or preferences of the holders of Series B Preferred and Conversion Common Shares set forth herein may be waived or otherwise defeased by the affirmative written consent of the holders of at least a majority of the shares of Series B Preferred and Conversion Common Shares then outstanding, voting as a single class on a Common Equivalent Basis.

• If the Corporation declares or pays a dividend or makes any distribution on the Common, then the holders of the outstanding shares of Pari Passu Preferred (on a Common Equivalent Basis as of the record date for such dividend or distribution) and the holders of the Common shall share pro rata in such dividend or distribution.

• Any of the rights, powers or preferences of the holders of Series C Preferred and Conversion Common Shares set forth herein may be waived or otherwise defeased by the affirmative written consent of the holders of at least a majority of the shares of Series C Preferred and Conversion Common Shares then outstanding, voting as a single class on a Common Equivalent Basis.

• Any of the rights, powers or preferences of the holders of Series A Preferred and Conversion Common Shares set forth herein may be waived or otherwise defeased by the affirmative written consent of the holders of at least a majority of the shares of Series A Preferred and Conversion Common Shares then outstanding, voting as a single class on a Common Equivalent Basis.

• Upon notice from the holders of a majority of the outstanding Pari Passu Preferred and Conversion Common Shares, voting as a single class on a Common Equivalent Basis, then outstanding that they intend to exercise their rights under this Section 6(b)(i), the Corporation shall immediately take whatever action is necessary so as to effectuate this Section 6(b)(i), including, without limitation, increasing the size of the Board and electing such additional Investor Directors.

More Definitions of Common Equivalent Basis

Common Equivalent Basis means, as of the date of such determination, the number of shares of Common that each holder of Series A Preferred would be entitled to receive upon conversion of its Series A Preferred into Common.

Common Equivalent Basis means, as of the date of such determination, (i) in respect of the Series C Preferred, the number of shares of Common that each holder of Series C Preferred would be entitled to receive upon conversion of its Series C Preferred into Common and (ii) in respect of the Pari Passu Preferred, the number of shares of Common that each holder of Pari Passu Preferred would be entitled to receive upon conversion of its Pari Passu Preferred into Common.

Common Equivalent Basis means the number of issued and outstanding shares of Common Stock as of immediately prior to the Effective Time, treating all In-the-Money Common Warrants on an “as-exercised basis”, but excluding any treasury shares or shares otherwise held by the Company.

Common Equivalent Basis means the basis upon which the Shareholder's percentage of the equity in the Company is computed, determined as follows: divide: (i) the number of shares of Series A Common Stock (other than Conversion Stock) owned by the Stockholder plus the number of shares of Conversion Stock which the Stockholder owns or to which the Stockholder is entitled; by (ii) the number of shares of Series A Common Stock outstanding plus the number of shares of Series A Common Stock issuable upon conversion (at the then applicable conversion rate) of all then outstanding shares of convertible Preferred Stock and Common Stock.