Common use of Excepted Issuances Clause in Contracts

Excepted Issuances. Notwithstanding the foregoing, no adjustment will be made under this Section 11(b) in respect of (1) the granting or exercise of options to employees, officers and directors of the Company pursuant to any stock option plan duly adopted by a majority of the non-employee members of the Board of Directors of the Company or a majority of the members of a committee of non-employee directors established for such purpose, (2) the conversion of the Debentures or any Debentures of this series or of any other series or the conversion or exercise of any other security issued by the Company in connection with the offer and sale of the Company's securities pursuant to the Purchase Agreement, (3) the amendment, exercise, conversion or redemption of any Capital Shares Equivalent or Options issued and outstanding on the Original Issue Date, (4) the payment of interest on any Senior Debt in shares of the Company's Common Stock, (5) the issuance of any shares or Capital Shares Equivalent pursuant to the terms of any convertible securities issued and outstanding on the Original Issue Date, or (6) the issuance of securities in connection with acquisitions or strategic investments, the primary purpose of which is not to raise capital. "Senior Debt" shall mean all of the indebtedness identified in Schedule 3.1(x) to the Purchase Agreement.