Common use of Adjustments to Conversion Clause in Contracts

Adjustments to Conversion. If the Corporation at any time pays to the holders of its common stock a dividend in common stock, the number of shares of Common Stock issuable upon the conversion of this Debenture shall be proportionally increased effective at the close of business on the record date for determination of the holders of the common stock entitled to the dividend. If the Corporation at any time subdivides or combines in a larger or smaller number of shares its outstanding shares of common stock, then the number of shares of Common Stock issuable upon the conversion of this Debenture shall be proportionally increased in the case of a subdivision, but shall remain the same (non-dilutable) in the case of a combination, effective in either case at the close of business on the date that the subdivision or combination becomes effective. If the Corporation is recapitalized, consolidated with or merged into any other corporation, or sells or conveys to any other corporation all or substantially all of its property as an entity, provision shall be made as part of the terms of any such transaction so that the holder or holders of this Debenture may receive, in lieu of the Common Stock otherwise issuable to them upon conversion hereof at the same conversion ratio, the same kind and amount of securities or assets as may be distributable upon the recapitalization, consolidation, merger, sale, or conveyance with respect to the common stock.

Appears in 1 contract

Sources: Convertible Subordinated Non Dilutable Debenture Agreement (Black Giant Oil Co)

Adjustments to Conversion. If the Corporation at any time pays to the holders of its common stock a dividend in common stock, the number of shares of Common Stock common stock issuable upon the conversion of this Debenture Note shall be proportionally increased increased, effective at the close of business on the record date for determination of the holders of the common stock entitled to the dividend. If the Corporation at any time subdivides or combines in a larger or smaller number of shares its outstanding shares of common stock, then the number of shares of Common Stock common stock issuable upon the conversion of this Debenture Note shall be proportionally increased in the case of a subdivision, but shall remain the same (non-dilutable) subdivision and decreased in the case of a combination, effective in either case at the close of business on the date that the subdivision or combination becomes effective. If the Corporation is recapitalized, consolidated with or merged into any other corporation, or sells or conveys to any other corporation all or substantially all of its property as an entity, provision shall be made as part of the terms of any such transaction the recapitalization, consolidation, merger, sale, or conveyance so that the holder or holders of this Debenture Note may receive, in lieu of the Common Stock common stock otherwise issuable to them upon conversion hereof hereof, at the same conversion ratio, the same kind and amount of securities or assets as may be distributable upon the recapitalization, consolidation, merger, sale, or conveyance with respect to the common stock.

Appears in 1 contract

Sources: Note and Warrant Purchase Agreement (Integral Vision Inc)

Adjustments to Conversion. (i) If the Corporation FUTO at any time pays to the holders of its common stock Common Stock a dividend in common stockCommon Stock, the number of shares of Common Stock issuable upon the conversion of this Debenture Note shall be proportionally increased increased, effective at the close of business on the record date for determination of the holders of the common stock Common Stock entitled to the dividend. . (ii) If the Corporation FUTO at any time subdivides or combines in a larger or smaller number of shares its outstanding shares of common stockCommon Stock, then the number of shares of Common Stock issuable upon the conversion of this Debenture Note shall be proportionally increased in the case of a subdivision, but shall remain the same (non-dilutable) subdivision and decreased in the case of a combination, effective in either case at the close of business on the date that the subdivision or combination becomes effective. . (iii) If the Corporation FUTO is recapitalized, consolidated with or merged into any other corporation, or sells or conveys to any other corporation all or substantially all of its property as an entity, provision shall be made as part of the terms of any such transaction the recapitalization, consolidation, merger, sale, or conveyance so that the holder or holders Holder of this Debenture Note may receive, in lieu of the Common Stock otherwise issuable to them upon conversion hereof hereof, at the same conversion ratio, the same kind and amount of securities or assets as may be distributable upon the recapitalization, consolidation, merger, sale, or conveyance with respect to the common stockCommon Stock.

Appears in 1 contract

Sources: Collateralized Convertible Commercial Promissory Note (Futureone Inc /Nv/)

Adjustments to Conversion. If the Corporation at any time pays to the ------------------------- holders of its common stock a dividend in common stock, the number of shares of Common Stock common stock issuable upon the conversion of this Debenture shall be proportionally increased increased, effective at the close of business on the record date for determination of the holders of the common stock entitled to the dividend. If the Corporation at any time subdivides or combines in a larger or smaller number of shares its outstanding shares of common stock, then the number of shares of Common Stock common stock issuable upon the conversion of this the Debenture shall be proportionally increased in the case of a subdivision, but shall remain the same (non-dilutable) subdivision and decreased in the case of a combination, effective in either case at the close of business on the date that the subdivision or combination becomes effective. If the Corporation is recapitalized, consolidated with or merged into any other corporation, or sells or conveys to any other corporation Corporation all or substantially all of its property as an entity, provision shall be made as part of the terms of any such transaction the recapitalization, consolidation, merger, sale or conveyance so that the holder Holder or holders Holders of this Debenture may receive, in lieu of the Common Stock common stock otherwise issuable to them upon conversion hereof hereof, at the same conversion ratio, the same kind and amount of securities or assets as may be distributable upon the recapitalization, consolidation, merger, sale, sale or conveyance with respect to the common stock.

Appears in 1 contract

Sources: Convertible Debenture (Just Like Home Inc)