Resets Clause Samples
The "Resets" clause defines the process and timing by which certain contractual terms, such as interest rates or payment amounts, are recalculated or adjusted at specified intervals. Typically, this clause applies to financial agreements where variables like interest rates are periodically updated based on a reference rate or index, for example, resetting every quarter according to prevailing market rates. Its core practical function is to ensure that contract terms remain aligned with current market conditions, thereby managing risk and maintaining fairness for both parties over the contract's duration.
Resets. On each Reset Date (i) the Exercise Price shall be adjusted (downward only) to equal the Reset Price related to such Reset Date and (ii) the Maximum Eligibility Number shall be increased (but not decreased) by the applicable Reset Share Amount.
Resets a. The parties agree that there shall be no Reset on August 23, 2001 with respect to any Investor if no Investor has the right to commence litigation under Section 1 hereof on or prior to August 23, 2001. In the event that there is no Reset on August 23, 2001 as a result of the foregoing sentence and any Investor thereafter shall have the right to commence litigation under Section 1 hereof, then, commencing on the date that any Investor may so commence litigation, the August 23, 2001 Reset shall apply with respect to each Investor for all conversions effected thereafter (and, subject to further future adjustment and Reset, the Conversion Price as of such date shall be deemed to be equal to the Conversion Price that would have existed if the August 23, 2001 Reset had occurred). Nothing in this Agreement shall affect the obligations of the Company to honor the August 23, 2000 Reset, and the February 23, 2002 Reset (i) if any results from the pricing during the Reset Pricing Period and (ii) with respect to Debenture(s) outstanding (or assumed to be outstanding for purposes of determining the Make Whole Amount under subsection 3(b)(iii)) on or after such date.
b. It is hereby acknowledged by the Company and each Investor that the August 23, 2000 Reset resulted in a new Conversion Price, with respect to the Agreed Amount, which, as of such date, was, and which, as of the date of this Agreement, is, and hereinafter shall be, equal to $3.875 (subject to further future adjustments and Resets as provided in this Agreement and the Debentures). It is further hereby acknowledged that there was no February 23, 2001 Reset. It is further hereby acknowledged by the Company and each Investor that any future Reset pursuant to the first two paragraphs of Section 5(c) of the Debentures (as modified by this Agreement) and any future adjustment to the Conversion Price pursuant to the third paragraph of Section 5(c) of the Debentures (as modified by this Agreement) shall not, in any event, result in any increase in the Conversion Price, but only a decrease, if there is to be any modification in the Conversion Price. It is further agreed that the existence of any cap on the number of shares of Common Stock into which the Debentures may be converted (whether under this Agreement or the Transaction Documents) shall not affect the Conversion Price with respect to the Agreed Amount.
Resets. Check function of resets. Check PRBS Insertion and Detection Check PRBS insertion and detection functionality. Transmitter Tests Record Tx output power at room temperature. Acacia will test the module for Tx Power over temperature without the ASIC and will make results of these tests available to Adva. Tx Wavelength Check Tx tuning to 50GHz ITU grid, Acacia will test the module for Tx Tuning over temperature without the ASIC and will make results of these tests available to Adva. Receiver Tests Back to Back OSNR vs. BER over OTU4 Interface Record Back to Back OSNR vs, BER at room temperature. PMD/CD Tolerance
Resets. Check function of resets. Check PRBS insertion and detection functionality. Transmitter Tests Record Tx output power at room temperature. Acacia will test the module for Tx Power over temperature without the ASIC and will make results of these tests available to Adva. Check Tx tuning to 50GHz ITU grid, Acacia will test the module for Tx Tuning over temperature without the ASIC and will make results of these tests available to Adva. Receiver Tests
Resets. Resets shall include schematic updates, new item cut-ins, fair share homestore/ISE resets which shall be invoiced as set forth on Exhibit A.