Common use of Adjustment for Reclassification, Exchange and Substitution Clause in Contracts

Adjustment for Reclassification, Exchange and Substitution. If at any time or from time to time after the date upon which the first share of Series C Preferred Stock was issued by the Corporation (the “Original Issue Date”), the shares of Company Class A Common Stock issuable upon the conversion of the Series C Preferred Stock shall be changed into the same or a different number of shares of any class or classes of stock, whether by recapitalization, reclassification, reorganization, merger, exchange, consolidation, sale of assets or otherwise, then, in any such event, Holders shall have the right thereafter to convert such stock into the kind and amount of stock and other securities and property receivable upon such recapitalization, reclassification, reorganization, merger, exchange, consolidation, sale of assets or other change by a holder of the number of shares of Company Class A Common Stock into which such shares of Series C Preferred Stock could have been converted immediately prior to such recapitalization, reclassification, reorganization, merger, exchange, consolidation, sale of assets or other change, or with respect to such other securities or property by the terms thereof.

Appears in 3 contracts

Samples: Option Agreement (Boxlight Corp), Share Purchase Agreement (Boxlight Corp), Option Agreement (Boxlight Corp)

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Adjustment for Reclassification, Exchange and Substitution. If If, at any time or from time to time after the date upon which the first share of Series C Preferred Stock was issued by the Corporation (the “Original Issue Filing Date”), the number of shares of Company Class A Common Stock issuable upon the conversion of the shares of Series C Preferred Stock shall be is changed into the same or a different number of shares of any other class or classes of stockstock or other securities, whether by recapitalization, reclassificationreclassification or otherwise (other than a recapitalization, division or combination of shares or stock dividend or a reorganization, merger, exchange, consolidation, consolidation or sale of assets or otherwiseprovided for elsewhere in this Section D), then, then in any such event, Holders event each holder of outstanding shares of Series C Stock shall have the right thereafter to convert such stock shares of Series C Stock into the same kind and amount of stock and other securities and property receivable upon such recapitalization, reclassification, reorganization, merger, exchange, consolidation, sale of assets reclassification or other change by a holder of change, as the maximum number of shares of Company Class A Common Stock into which such shares of Series C Preferred Stock could have been converted immediately prior to such recapitalization, reclassification, reorganization, merger, exchange, consolidation, sale of assets reclassification or other change, or with respect all subject to such other securities or property by the terms thereoffurther adjustment as provided herein.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Hull James Mitchell), Securities Purchase Agreement (Hull James Mitchell)

Adjustment for Reclassification, Exchange and Substitution. If at any time or from time to time after the date upon which the first share of Series C Preferred Stock was issued by the Corporation (the “Original Issue Date”), the shares of Company Class A Common Stock issuable upon the conversion of the Series C Preferred Stock shall be changed into the same or a different number of shares of any class or classes of stock, whether by recapitalization, reclassification, reorganization, merger, exchange, consolidation, sale of assets or otherwise, then, in any such event, Holders shall have the right thereafter to convert such stock into the kind and amount of stock and other securities and property receivable upon such recapitalization, reclassification, reorganization, merger, exchange, consolidation, sale of assets or other change by a holder of the number of shares of Company Class A Common Stock into which such shares of Series C Preferred Stock could have been converted immediately prior to such recapitalization, reclassification, reorganization, merger, exchange, consolidation, sale of assets or other change, or with respect to such other securities or property by the terms thereof.

Appears in 1 contract

Samples: Option Agreement (Logical Choice Corp)

Adjustment for Reclassification, Exchange and Substitution. If at any time or from time to time after the date upon which the first share of Series C Preferred Stock was issued by the Corporation (the “Original Issue Date”), the shares of Company Class A Common Stock issuable upon the conversion of the Series C A Preferred Stock shall be is changed into the same or a different number of shares of any class or classes of stock, whether by recapitalization, reclassificationreclassification or otherwise (other than an Acquisition or Asset Transfer as defined in SECTION B.4 above, or a subdivision or combination of shares or stock dividend or a reorganization, merger, exchange, consolidation, consolidation or sale of assets or otherwise, thenprovided for elsewhere in this SECTION D), in any such event, Holders event each holder of Series A Preferred shall have the right thereafter to convert such stock into the kind and amount of stock and other securities and property receivable upon such recapitalization, reclassification, reorganization, merger, exchange, consolidation, sale of assets reclassification or other change by a holder holders of the maximum number of shares of Company Class A Common Stock into which such the shares of Series C A Preferred Stock could have been converted immediately prior to such recapitalization, reclassification, reorganization, merger, exchange, consolidation, sale of assets reclassification or other change, all subject to further adjustment as provided herein or with respect to such other securities or property by the terms thereof.

Appears in 1 contract

Samples: Debt Conversion Agreement (American Soil Technologies Inc)

Adjustment for Reclassification, Exchange and Substitution. If at any time or from time to time after the date upon which Filing Date the first share number of Series C Preferred Stock was issued by the Corporation (the “Original Issue Date”), the shares of Company Class A Common Stock issuable upon the conversion of the shares of Series C Preferred Stock shall be A Stock, is changed into the same or a different number of shares of any other class or classes of stockStock or other securities, whether by recapitalization, reclassificationreclassification or otherwise (other than a recapitalization, division or combination of shares or a stock dividend, or a reorganization, merger, exchange, consolidation, consolidation or sale of assets or otherwiseprovided for elsewhere in this Article IV.F.6, then, then in any such event, Holders event each holder of outstanding shares of Series A Stock shall have the right thereafter to convert such stock shares of Series A Stock into the same kind and amount of stock Stock and other securities and property receivable upon such recapitalization, reclassification, reorganization, merger, exchange, consolidation, sale of assets reclassification or other change by a holder of change, as the maximum number of shares of Company Class A Common Stock into which such shares of Series C Preferred Stock A Stock, could have been converted immediately prior to such recapitalization, reclassification, reorganization, merger, exchange, consolidation, sale of assets reclassification or other change, or with respect all subject to such other securities or property by the terms thereoffurther adjustment as provided herein.

Appears in 1 contract

Samples: Stock Purchase Agreement (Vyyo Inc)

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Adjustment for Reclassification, Exchange and Substitution. If at any time or from time to time after the date upon which the first share of Series C A Preferred Stock was issued by the Corporation (the Original Issue Date”), the shares of Company Class A Common Stock issuable upon the conversion of the Series C A Preferred Stock shall be changed into the same or a different number of shares of any class or classes of stock, whether by recapitalization, reclassification, reorganization, merger, exchange, consolidation, sale of assets or otherwise, then, in any such event, Holders each holder of Series A Preferred Stock shall have the right thereafter to convert such stock into the kind and amount of stock and other securities and property receivable upon such recapitalization, reclassification, reorganization, merger, exchange, consolidation, sale of assets or other change by a holder of the number of shares of Company Class A Common Stock into which such shares of Series C A Preferred Stock could have been converted immediately prior to such recapitalization, reclassification, reorganization, merger, exchange, consolidation, sale of assets or other change, or with respect to such other securities or property by the terms thereof.

Appears in 1 contract

Samples: Sino-Global Shipping America, Ltd.

Adjustment for Reclassification, Exchange and Substitution. If If, at any time or from time to time after the date upon which the first share of Series C Preferred Stock was issued by the Corporation (the “Original Issue Filing Date”), the number of shares of Company Class A Common Stock issuable upon the conversion of the shares of Series A Stock, Series B Stock and Series C Preferred Stock shall be is changed into the same or a different number of shares of any other class or classes of stockstock or other securities, whether by recapitalization, reclassificationreclassification or otherwise (other than a recapitalization, division or combination of shares or stock dividend or a reorganization, merger, exchange, consolidation, consolidation or sale of assets or otherwiseprovided for elsewhere in this Section F), then, in any such event, Holders each holder of outstanding shares of Series A Stock, each holder of outstanding shares of Series B Stock and each holder of the outstanding shares of Series C Stock shall have the right thereafter to convert such stock shares of Series A Stock, Series B Stock and Series C Stock into the same kind and amount of stock and other securities and property receivable upon such recapitalization, reclassification, reorganization, merger, exchange, consolidation, sale of assets reclassification or other change by a holder of change, as the maximum number of shares of Company Class A Common Stock into which such shares of Series A Stock, Series B Stock and Series C Preferred Stock could have been converted immediately prior to such recapitalization, reclassification, reorganization, merger, exchange, consolidation, sale of assets reclassification or other change, or with respect all subject to such other securities or property by the terms thereoffurther adjustment as provided herein.

Appears in 1 contract

Samples: Purchase Agreement (Vyyo Inc)

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