Common use of Adjustment for Common Stock Dividends and Distributions Clause in Contracts

Adjustment for Common Stock Dividends and Distributions. If the Corporation at any time or from time to time makes, or fixes a record date for the determination of holders of Common Stock entitled to receive, a divided or other distribution payable in additional shares of Common Stock, in each such event the Series A Conversion Price and the Series B/B-1 Conversion Price that is then in effect shall be decreased as of the time of such issuance or, in the event such record date is fixed, as of the close of business on such record date, by multiplying each of the Series A Conversion Price and the Series B/B-1 Conversion Price then in effect by a fraction (1) the numerator of which is the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date, and (2) the denominator of which is the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date plus the number of shares of Common Stock issuable in payment of such dividend or distribution; provided, however, that if such record date is fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Series A Conversion Price and the Series B/B-1 Conversion Price shall be recomputed accordingly as of the close of business on such record date and thereafter the Series A Conversion Price and the Series B/B-1 Conversion Price shall be adjusted pursuant to this Section 4.2(e)(v) to reflect the actual payment of such dividend or distribution.

Appears in 3 contracts

Samples: Preferred Stock Purchase Agreement (Velocom Inc), Preferred Stock Purchase Agreement (Velocom Inc), Preferred Stock Purchase Agreement (Velocom Inc)

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Adjustment for Common Stock Dividends and Distributions. If the Corporation corporation at any time or from time to time after the Original Issue Date makes, or fixes a record date for the determination of holders of Common Stock entitled to receive, a divided dividend or other distribution payable in additional shares of Common Stock, in each such event each of the Series A Conversion Price, the Series B Conversion Price, the Series C Conversion Price and the Series B/B-1 D Conversion Price that is then in effect shall be decreased as of the time of such issuance or, in the event such record date is fixed, as of the close of business on such record date, by multiplying each of the Series A Conversion Price, the Series B Conversion Price, the Series C Conversion Price and the Series B/B-1 D Conversion Price then in effect by a fraction (1) the numerator of which is the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date, and (2) the denominator of which is the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date plus the number of shares of Common Stock issuable in payment of such dividend or distribution; provided, however, that if such record date is fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, each of the Series A Conversion Price, the Series B Conversion Price, the Series C Conversion Price and the Series B/B-1 D Conversion Price shall be recomputed accordingly as of the close of business on such record date and thereafter the Series A Conversion Price, the Series B Conversion Price, the Series C Conversion Price and the Series B/B-1 D Conversion Price shall be adjusted pursuant to this Section 4.2(e)(vB4(g) to reflect the actual payment of such dividend or distribution.

Appears in 2 contracts

Samples: Purchase Common Stock (Nimblegen Systems Inc), Agreement (Nimblegen Systems Inc)

Adjustment for Common Stock Dividends and Distributions. If the Corporation at any time or from time to time after the Original Issue Date makes, or fixes a record date for the determination of holders of Common Stock entitled to receive, a divided dividend or other distribution payable in additional shares of Common Stock, in each such event the Series A Preferred Conversion Price and the Series B/B-1 B Preferred Conversion Price that is then in effect shall be decreased as of the time of such issuance or, in the event such record date is fixed, as of the close of business on such record date, by multiplying each of the Series A Preferred Conversion Price and or the Series B/B-1 B Preferred Conversion Price then in effect by a fraction (1i) the numerator of which is the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date, and (2ii) the denominator of which is the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date plus the number of shares of Common Stock issuable in payment of such dividend or distribution; provided, however, that if such record date is fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Series A Preferred Conversion Price and the Series B/B-1 B Preferred Conversion Price shall be recomputed accordingly as of the close of business on such record date and thereafter the Series A Preferred Conversion Price and the Series B/B-1 B Preferred Conversion Price shall be adjusted pursuant to this Section 4.2(e)(v4(f) to reflect the actual payment of such dividend or distribution.

Appears in 1 contract

Samples: Preferred Stock Purchase Agreement (Oryx Technology Corp)

Adjustment for Common Stock Dividends and Distributions. If the Corporation If, at any time or from time to time after the original issue date of the Series A Preferred Stock (the "Original Issue Date"), the Corporation makes, or fixes a record date for the determination of holders of Common Stock entitled to receive, a divided dividend or other distribution payable in additional shares of Common Stock, Stock or a security or right convertible into or entitling the holder thereof to receive one share of Common Stock (a "Common Stock Equivalent") in each such event the Series A Conversion Price and the Series B/B-1 Conversion Price that is then in effect shall be decreased as of the time of such issuance or, in the event such record date is fixed, as of the close of business on such record date, by multiplying each of the Series A Conversion Price and the Series B/B-1 Conversion Price then in effect by a fraction (1i) the numerator of which is the total number of shares of Common Stock and Common Stock Equivalents issued and outstanding immediately prior to the time of such issuance or the close of business on such record date, and (2ii) the denominator of which is the total number of shares of Common Stock and Common Stock Equivalents issued and outstanding immediately prior to the time of such issuance or the close of business on such record date plus the number of shares of Common Stock or Common Stock Equivalents issuable in payment of such dividend or distribution; provided, however, that if such record date is fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Series A Conversion Price and the Series B/B-1 Conversion Price shall be recomputed accordingly as of the close of business on such record date and thereafter the Series A Conversion Price and the Series B/B-1 Conversion Price shall be adjusted pursuant to this Section 4.2(e)(v4(e)(i) to reflect the actual payment of such dividend or distribution.

Appears in 1 contract

Samples: Preferred Stock and Warrant Purchase Agreement (Metawave Communications Corp)

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Adjustment for Common Stock Dividends and Distributions. If the Corporation at any time or from time to time after the Series B-1 Original Issue Date makes, or fixes a record date for the determination of holders of Common Stock entitled to receive, a divided dividend or other distribution payable in additional shares of Common Stock, in each such event the Series A Preferred Conversion Price, the Series B Preferred Conversion Price and the Series B/B-1 Preferred Conversion Price that is then in effect shall be decreased as of the time of such issuance or, in the event such record date is fixed, as of the close of business on such record date, by multiplying each of the Series A Preferred Conversion Price, the Series B Preferred Conversion Price and or the Series B/B-1 Preferred Conversion Price then in effect by a fraction (1i) the numerator of which is the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date, and (2ii) the denominator of which is the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date plus the number of shares of Common Stock issuable in payment of such dividend or distribution; provided, however, that if such record date is fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Series A Preferred Conversion Price, the Series B Preferred Conversion Price and the Series B/B-1 Conversion Price shall be recomputed accordingly as of the close of business on such record date and thereafter the Series A Conversion Price and the Series B/B-1 Conversion Price shall be adjusted pursuant to this Section 4.2(e)(v) to reflect the actual payment of such dividend or distribution.B-1

Appears in 1 contract

Samples: Preferred Stock Purchase Agreement (Oryx Technology Corp)

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