Section 7 definition
Examples of Section 7 in a sentence
Whenever the Conversion Ratio is adjusted pursuant to any provision of this Section 7, the Corporation shall promptly deliver to each Holder a notice setting forth the Conversion Ratio after such adjustment and setting forth a brief statement of the facts requiring such adjustment.
In the event the Director breaches this Section 7, the Company shall have right to seek remedies permissible under applicable law.
The Underwriters’ obligations to contribute as provided in this Section 7 are several in proportion to their respective underwriting obligations and not joint.
Each share of Series A Preferred Stock is convertible into ten (10) shares of Common Stock, subject to adjustment as set forth in Section 7 below (this ratio, as adjusted from time to time, the “Conversion Ratio”).
All calculations under this Section 7 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be.