Common use of Adjustments for Dividends in Stock or Other Securities or Property Clause in Contracts

Adjustments for Dividends in Stock or Other Securities or Property. If, while this Note remains outstanding and unconverted, the holders of any class of securities as to which conversion rights under this Note exist at the time shall have received, or, on or after the record date fixed for the determination of eligible stockholders, shall have become entitled to receive, without payment therefor, other or additional stock or other securities or property (other than cash) of the Borrower by way of dividend, then and in each case, this Note shall represent the right to acquire, in addition to the number of shares of such class of security receivable upon conversion of this Note, and without payment of any additional consideration therefor, the amount of such other or additional stock or other securities or property (other than cash) of the Borrower that such holder would hold on the date of such conversion had it been the holder of record of the class of security receivable upon conversion of this Note on the date hereof and had thereafter, during the period from the date hereof to and including the date of such conversion, retained such shares and/or all other additional stock available by it as aforesaid during said period, giving effect to all adjustments called for during such period by the provisions of this Section 2.4.

Appears in 4 contracts

Samples: The Promissory Note (Phytomedical Technologies Inc), Phytomedical Technologies Inc, Phytomedical Technologies Inc

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Adjustments for Dividends in Stock or Other Securities or Property. If, If while this Note or any portion hereof, remains outstanding and unconverted, unexpired the holders of any class of the securities as to which conversion rights under this Note exist at the time shall have received, or, on or after the record date fixed for the determination of eligible stockholders, shall have become entitled to receive, without payment therefor, other or additional stock or other securities or property (other than cash) of the Borrower Company by way of dividend, then and in each case, this Note shall represent the right to acquireacquire upon conversion, in addition to the number of shares of such class of the security receivable upon conversion of this Note, and without payment of any additional consideration therefor, the amount of such other or additional stock or other securities or property (other than cash) of the Borrower Company that such holder would hold on the date of such conversion had it been the holder of record of the class of security receivable upon conversion of this Note on the date hereof and had thereafter, during the period from the date hereof to and including the date of such conversion, retained such shares and/or all other additional stock stock, other securities or property available by it this Note as aforesaid during said such period, giving effect to all adjustments called for during such period by the provisions of this Section 2.47.

Appears in 3 contracts

Samples: Standard Management Corp, Standard Management Corp, Standard Management Corp

Adjustments for Dividends in Stock or Other Securities or Property. IfIf while the Series B Preferred Stock, while this Note or any portion hereof, remains outstanding and unconverted, the holders of any class of the securities as to which conversion rights under this Note the Series B Preferred Stock exist at the time shall have received, or, on or after the record date fixed for the determination of eligible stockholders, shall have become entitled to receive, without payment therefor, other or additional stock or other securities or property (other than cash) of the Borrower Corporation by way of dividend, then and in each case, this Note the Series B Preferred Stock shall represent the right to acquireacquire upon conversion, in addition to the number of shares of such class of the security receivable upon conversion of this Notethe Series B Preferred Stock, and without payment of any additional consideration therefor, the amount of such other or additional stock or other securities or property (other than cash) of the Borrower Corporation that such holder would hold on the date of such conversion had it been the holder of record of the class of security receivable upon conversion of this Note the Series B Preferred Stock on the date hereof and had thereafter, during the period from the date hereof to and including the date of such conversion, retained such shares and/or all other additional stock available by it stock, other securities or property as aforesaid during said such period, giving effect to all adjustments called for during such period by the provisions of this Section 2.45.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Stellar Technologies, Inc.), Securities Purchase Agreement (Stellar Technologies, Inc.)

Adjustments for Dividends in Stock or Other Securities or Property. If, If while this Note Note, or any portion hereof, remains outstanding and unconverted, unexpired the holders of any class of the securities as to which conversion rights under this Note exist at the time shall have received, or, on or after the record date fixed for the determination of eligible stockholders, shall have become entitled to receive, without payment therefor, other or additional stock or other securities or property (other than cash) of the Borrower Maker by way of dividend, then and in each case, this Note shall represent the right to acquireacquire upon conversion, in addition to the number of shares of such class of the security receivable upon conversion of this Note, and without payment of any additional consideration therefor, the amount of such other or additional stock or other securities or property (other than cash) of the Borrower Maker that such holder would hold on the date of such conversion had it been the holder of record of the class of security receivable upon conversion of this Note on the date hereof and had thereafter, during the period from the date hereof to and including the date of such conversion, retained such shares and/or and/all other additional stock stock, other securities or property available by it this Note as aforesaid during said such period, giving effect to all adjustments called for during such period by the provisions of this Section 2.47.

Appears in 1 contract

Samples: Registration Rights Agreement (General Acceptance Corp /In/)

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Adjustments for Dividends in Stock or Other Securities or Property. If, If while this Note Debenture, or any portion hereof, remains outstanding and unconverted, unexpired the holders of any class of the securities as to which conversion rights under this Note Debenture exist at the time shall have received, or, on or after the record date fixed for the determination of eligible stockholders, shall have become entitled to receive, without payment therefor, other or additional stock or other securities or property (other than cash) of the Borrower Company by way of dividend, then and in each case, this Note Debenture shall represent the right to acquireacquire upon conversion, in addition to the number of shares of such class of the security receivable upon conversion of this NoteDebenture, and without payment of any additional consideration therefor, the amount of such other or additional stock or other securities or property (other than cash) of the Borrower Company that such holder would hold on the date of such conversion had it been the holder of record of the class of security receivable upon conversion of this Note Debenture on the date hereof and had thereafter, during the period from the date hereof to and including the date of such conversion, retained such shares and/or all other additional stock stock, other securities or property available by it this Debenture as aforesaid during said such period, giving effect to all adjustments called for during such period by the provisions of this Section 2.48.

Appears in 1 contract

Samples: Subordinated Convertible Debenture (Nal Financial Group Inc)

Adjustments for Dividends in Stock or Other Securities or Property. If, If while any indebtedness remains outstanding under this Note remains outstanding and unconverted, the holders of any class of the securities as to which conversion rights under this Note exist at the time shall have received, or, on or after the record date fixed for the determination of eligible stockholdersshareholders, shall have become entitled to receive, without payment therefor, other or additional stock or other securities or property (other than cash) of the Borrower Company by way of dividend, then and in each case, this Note shall represent the right to acquirereceive, in addition to the number of shares of such class of the security receivable upon conversion of this Note, and without payment of any additional consideration therefor, the amount of such other or additional stock or other securities or property (other than cash) of the Borrower Company that such holder would hold on the date of such conversion exercise had it been the holder of record of the class of security receivable upon conversion of this Note on the date hereof and had thereafter, during the period from the date hereof to and including the date of such conversion, retained such shares and/or all other additional stock available by it as aforesaid during said such period, giving effect to all adjustments called for during such period by the provisions of this Section 2.46.

Appears in 1 contract

Samples: Security Agreement (Crown Resources Corp)

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