Common use of Change in Option Price or Conversion Rate Clause in Contracts

Change in Option Price or Conversion Rate. If either the purchase price provided for in any Options, the additional consideration, if any, payable upon the issue, conversion or exchange of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable for Common Stock shall change at any time, the Exercise Price in effect at the time of such change shall be adjusted to the Exercise Price which would have been in effect at such time had such Options or Convertible Securities still outstanding provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold and the number of Warrant Shares shall be correspondingly readjusted.

Appears in 5 contracts

Samples: Warrant Agreement (Network Communications, Inc.), Securities Purchase Agreement (Covol Technologies Inc), Securities Purchase Agreement (Covol Technologies Inc)

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Change in Option Price or Conversion Rate. If either the purchase price provided for in any Options, the additional consideration, if any, payable upon the issue, conversion or exchange of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable for Common Stock Shares shall change at any timetime to an amount which is less than the Fair Market Value, then the Exercise Price in effect at the time of such change shall be adjusted to the Exercise Price which would have been in effect at such time had such Options or Convertible Securities still outstanding provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold and the number of Warrant Shares issuable upon exercise of the Warrants shall be correspondingly readjusted.

Appears in 4 contracts

Samples: Securities Purchase Agreement (E Automate Corp/De), Securities Purchase Agreement (Flexpoint Sensor Systems Inc), E Automate Corp/De

Change in Option Price or Conversion Rate. If either the purchase price provided for in any Options, the additional consideration, if any, payable upon the issueissuance, conversion or exchange of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable for Common Stock shall change at any time, the Exercise Price in effect at the time of such change shall will be adjusted readjusted to the Exercise Price which would have been in effect at such time had such Options or Convertible Securities still outstanding provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold and the number of shares of Warrant Shares shall Stock will be correspondingly readjusted; provided that if such adjustment would result in an increase of the Exercise Price then in effect, such adjustment will not be effective until 30 days after written notice thereof has been given by the Company to the Holder.

Appears in 3 contracts

Samples: Agreement (Chaparral Resources Inc), Chaparral Resources Inc, Chaparral Resources Inc

Change in Option Price or Conversion Rate. If either the purchase price provided for in any Options, the additional consideration, if any, payable upon the issue, conversion or exchange of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable for Common Stock Membership Interests shall change at any time, the Exercise Price in effect at the time of such change shall be adjusted to the Exercise Price which would have been in effect at such time had such Options or Convertible Securities still outstanding provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold and the number of Warrant Shares Interests shall be correspondingly readjusted.

Appears in 3 contracts

Samples: Purchase Agreement (Sleepmaster LLC), Purchase Agreement (Sleepmaster LLC), Lower Road Associates LLC

Change in Option Price or Conversion Rate. If either the purchase price provided for in any Options, the additional consideration, if any, payable upon the issue, conversion or exchange of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable for Common Stock shall change changes at any time, the Exercise Purchase Price in effect at the time of such change shall be adjusted immediately to the Exercise Purchase Price which would have been in effect at such time had such Options or Convertible Securities still outstanding provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold and the number of Warrant Shares shares of Common Stock issuable hereunder shall be correspondingly readjustedadjusted.

Appears in 2 contracts

Samples: Unit Purchase Agreement (Jennifer Loomis & Associates Inc), Unit Purchase Agreement (Union Corp)

Change in Option Price or Conversion Rate. If either the purchase price provided for in any Options, the additional consideration, if any, payable upon the issueissuance, conversion or exchange of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable for Common Stock shall change at any time, then the Exercise Price in effect at the time of such change shall be adjusted readjusted to the Exercise Price which would have been in effect at such time had such Options or Convertible Securities still outstanding provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold and the number of Warrant Shares shall be correspondingly readjusted.

Appears in 2 contracts

Samples: Warrant Issuance Agreement (Par Petroleum Corp/Co), Warrant Agreement (Ladish Co Inc)

Change in Option Price or Conversion Rate. If either the purchase price provided for in any Options, the additional consideration, if any, payable upon the issue, conversion or exchange of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable for Common Stock shall change at any time, the Exercise Price in effect at the time of such change shall be adjusted to the Exercise Price which would have been in effect at such time had such Options or Convertible Securities still outstanding provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold and the number of Warrant Shares shall be correspondingly readjusted.

Appears in 2 contracts

Samples: Exercise Agreement (Gardenburger Inc), Gardenburger Inc

Change in Option Price or Conversion Rate. If either the purchase price provided for in payable upon exercise of any Options, the additional consideration, if any, payable upon the issue, conversion or exchange of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable for Common Stock shall change at any time, the Exercise Price in effect at number of shares of Common Stock as of the time of such change shall will be adjusted to the Exercise Price number of shares of Common Stock which would have been in effect issuable upon exercise of the Warrant at such time had such Options or Convertible Securities still outstanding provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold and the number of Warrant Shares shall be correspondingly readjustedsold.

Appears in 1 contract

Samples: Warrant Agreement (Ramsay Youth Services Inc)

Change in Option Price or Conversion Rate. If either the purchase price provided for in any Options, the additional consideration, if any, payable upon the issueissuance, conversion or exchange of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable for Common Stock shall change changes at any time, the Exercise Price in effect at the time of such change shall be adjusted immediately to the Exercise Price which would have been in effect at such time had such Options or Convertible Securities still outstanding provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold (but in no event shall the Exercise Price after any such adjustments exceed the Exercise Price on the Date of Issuance) and the number of shares of Warrant Shares Stock shall be correspondingly readjustedadjusted.

Appears in 1 contract

Samples: Note and Warrant Purchase Agreement (Morton Industrial Group Inc)

Change in Option Price or Conversion Rate. If either the purchase price provided for in any Options, the additional consideration, if any, payable upon the issue, conversion or exchange of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable for Common Stock shall change changes at any time, the Exercise Price in effect at the time of such change shall be adjusted immediately to the Exercise Price which would have been in effect at such time had such Options or Convertible Securities still outstanding provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold and the number of Warrant Shares shares of Common Stock shall be correspondingly readjustedadjusted.

Appears in 1 contract

Samples: Exercise Agreement (Imc Mortgage Co)

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Change in Option Price or Conversion Rate. If either the purchase price provided for in any Options, the additional consideration, if any, payable upon the issue, conversion or exchange of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable for Common Stock shall change changes at any time, the Exercise Price in effect at the time of such change shall be adjusted immediately to the Exercise Price which would have been in effect at such time had such Options or Convertible Securities still outstanding provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold and the number of Warrant Shares shall be correspondingly readjustedadjusted.

Appears in 1 contract

Samples: Warrant Agreement (Cti Industries Corp)

Change in Option Price or Conversion Rate. If either the purchase price provided for in any Options, the additional consideration, if any, payable upon the issue, conversion or exchange of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable for Common Stock shall change at any time, the Exercise Price in effect at the time of such change shall be adjusted to the Exercise Price which would have been in effect at such time had such Options or Convertible Securities still outstanding provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold and the number of Warrant Shares shall be correspondingly readjusted.

Appears in 1 contract

Samples: Credit and Security Agreement (Franks Nursery & Crafts Inc)

Change in Option Price or Conversion Rate. If either the purchase price provided for in any Options, the additional consideration, if any, payable upon the issue, conversion or exchange of any Convertible Securities, Securities or the rate at which any Convertible Securities are convertible into or exchangeable for Common Stock shall change changes at any time, the Exercise Price in effect at the time of such change shall be immediately adjusted to the Exercise Price (determined in accordance with Section 9 above) which would have been in effect at such time had such Options or Convertible Securities still outstanding provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold and the number of Warrant Shares shares of Common Stock issuable hereunder shall be correspondingly readjustedadjusted; provided, that if such adjustment (determined in accordance with Section 9 above) would result in an increase of the Exercise Price then in effect, no adjustments shall be made.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Api Electronics Group Inc)

Change in Option Price or Conversion Rate. If either (x) the purchase price provided for in any Options, (y) the additional consideration, if any, payable upon the issueissuance, conversion or exchange of any Convertible Securities, or (z) the rate at which any Convertible Securities are convertible into or exchangeable for Common Stock Units shall change at any time, the Exercise Price in effect at the time of such change shall be adjusted to the Exercise Price which would have been in effect at such time had such Options or Convertible Securities still outstanding provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold and the number of Warrant Shares Class A Units shall be correspondingly readjusted.

Appears in 1 contract

Samples: Exercise Agreement (McCormick & Schmick Holdings, L.L.C.)

Change in Option Price or Conversion Rate. If either the purchase price provided for in any Options, the additional consideration, if any, payable upon the issueissuance, conversion or exchange of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable for Common Stock shall change at any time, then the Exercise Price in effect at the time of such change shall be adjusted readjusted without duplication to the Exercise Price which would have been in effect at such time had such Options or Convertible Securities still outstanding provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold and the number of Warrant Shares shall be correspondingly readjusted.

Appears in 1 contract

Samples: Warrant Issuance Agreement (Cornell Corrections Inc)

Change in Option Price or Conversion Rate. If either ----------------------------------------- the purchase price provided for in any Options, the additional consideration, if any, payable upon the issue, conversion or exchange of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exchangeable for Common Stock shall change at any time, the Common Exercise Price in effect at the time of such change shall be adjusted to the Exercise Price which would have been in effect at such time had such Options or Convertible Securities still outstanding provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold and the number of Common Warrant Shares shall be correspondingly readjusted.

Appears in 1 contract

Samples: Delco Remy International Inc

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