Common use of Fully Diluted Basis Clause in Contracts

Fully Diluted Basis. Whenever ownership or holding of a number of Shares is determined under this Addendum, unless otherwise provided, such determination will be made on a fully diluted basis taking into account the issued and outstanding Shares and assuming conversion to or exercise for Shares of all preferred shares, debentures, options, warrants, convertible securities or other rights exercisable or convertible for Shares.