Examples of Series A-1 Conversion Rate in a sentence
In case of an adjustment pursuant to Section 5(d), such notice shall enclose the resolution of the Board of Directors of the Corporation making the fair market value determination of the Series A Common Stock for the purpose of calculating the Series A-1 Conversion Rate.
The Corporation may, but shall not be required to, make any adjustment of the Series A-1 Conversion Rate if such adjustment would require an increase or decrease of less than 1% in the Series A-1 Conversion Rate; provided, however, that, in each case, any adjustments which by reason of this Section 5(g) are not required to be made shall be carried forward and taken into account in any subsequent adjustment.
Each outstanding share of Series A-1 Preferred Stock is convertible at the option of the holder at any time into fully paid and non-assessable full share(s) of Series A Common Stock at the then effective Series A-1 Conversion Rate (as defined below).
The Corporation shall take all such corporate and other actions as from time to time may be necessary to insure that all shares of Series A Common Stock issuable upon conversion of shares of Series A-1 Preferred Stock at the Series A-1 Conversion Rate in effect from time to time will, upon issue, be duly and validly authorized and issued, fully paid and nonassessable and free of any preemptive or similar rights.
In each case of an adjustment or readjustment of the Series A-1 Conversion Rate, the Series A-2 Conversion Rate, Series B Conversion Rate or the Series C Conversion Rate, as the case may be, the Corporation will promptly furnish each applicable holder of Preferred Stock with a certificate, prepared by the chief financial officer of the Corporation, showing such adjustment or readjustment, and stating in detail the facts upon which such adjustment or readjustment is based.
The number of shares of Common Stock to which a holder of Preferred Stock shall be entitled upon such conversion shall be equal to the product obtained by multiplying (A) the number of shares of Preferred Stock being converted by (B) the Series A-1 Conversion Rate, Series A-2 Conversion Rate, Series B Conversion Rate or Series C Conversion Rate (each determined as provided in Section 4(c) hereof), as the case may be.
The number of shares of Common Stock to which a holder of Series A-1 Preferred shall be entitled upon conversion shall be the product obtained by multiplying the "Series A-1 Conversion Rate" then in effect (determined as provided in Section 4(b)) by the number of shares of Series A-1 Preferred being converted.
In each case of an adjustment or readjustment of the Series A-1 Conversion Rate, the Corporation at its expense will furnish each holder of Series A-1 Preferred Stock with a certificate, prepared by the chief financial officer of the Corporation, showing such adjustment or readjustment, and stating in detail the facts upon which such adjustment or readjustment is based.
The number of shares of Common Stock to which a holder of Series A-1 Preferred Stock shall be entitled upon conversion shall be the product obtained by multiplying the Series A-1 Conversion Rate (determined as provided below in Section 4(b) of this Part C) by the number of shares of Series A-1 Preferred Stock being converted.
The Series B Conversion Value in effect from time to time, except as adjusted in accordance with this Section 5, shall be $2.52019 per share (the "Series B Conversion Value").Each of the Series A Conversion Rate, Series A-1 Conversion Rate and Series B Conversion Rate, as it may apply to the particular series of tl1e Series Preferred Stock so affected, are referred to herein as the "Applicable Series Preferred Conversion Rate".