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

Change in Option Price or Rate of Conversion. If there is a change at any time in (i) the purchase price provided for in any Options, (ii) the additional consideration, if any, payable upon the issue, conversion or exchange of any Convertible Securities or (iii) the rate at which any Convertible Securities are convertible into or exchangeable for Common Stock, then the Exercise Price in effect at the time of such change shall be 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; provided that no adjustment shall be made if such adjustment would result in an increase of the Exercise Price then in effect.

Appears in 5 contracts

Samples: Securities Purchase Agreement (Digital Courier Technologies Inc), Securities Purchase Agreement (Digital Courier Technologies Inc), Securities Purchase Agreement (Digital Courier Technologies Inc)

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Change in Option Price or Rate of Conversion. If there is a change at any time in (i) the purchase price provided for in any Options, (ii) the additional consideration, if any, payable upon the issue, conversion or exchange of any Convertible Securities Securities, or (iii) the rate at which any Convertible Securities are convertible into or exchangeable for any class of Common StockStock change at any time, then the Exercise Conversion Price in effect at the time of such change shall be readjusted readjusted, effective on and after the date of such change, to the Exercise Conversion Price which would have been in effect at on the date of such time change 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; provided that no adjustment shall be made if such adjustment would result in an increase of the Exercise Conversion Price then in effect.

Appears in 4 contracts

Samples: Exchange Agreement (Insignia Financial Group Inc /De/), Restructure Agreement (NTN Communications Inc), NTN Communications Inc

Change in Option Price or Rate of Conversion. If there is a change at any time in (i) the purchase price provided for in any Options, (ii) the additional consideration, if any, payable upon the issueissuance, conversion or exchange of any Convertible Securities or (iii) the rate at which any Convertible Securities are convertible into or exchangeable for Common Stock, then the Exercise Price in effect at the time of such change shall be 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; provided that no adjustment shall be made if such adjustment would result in an increase of the Exercise Price then in effect.

Appears in 3 contracts

Samples: Boston Life Sciences Inc /De, International Isotopes Inc, Signal Apparel Company Inc

Change in Option Price or Rate of Conversion. If there is a -------------------------------------------- change at any time in (i) the purchase price provided for in any Options, (ii) the additional consideration, if any, payable upon the issueissuance, conversion or exchange of any Convertible Securities or (iii) the rate at which any Convertible Securities are convertible into or exchangeable for Common Stock, then the Exercise Price in effect at the time of such change shall be 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; provided that no adjustment shall be made if such adjustment would result in an increase of the Exercise Price then in effect.

Appears in 2 contracts

Samples: Boston Life Sciences Inc /De, Boston Life Sciences Inc /De

Change in Option Price or Rate of Conversion. If there is a change at any time in (i) the purchase price provided for in any Options, (ii) the additional consideration, if any, payable upon the issueissuance, conversion or exchange of any Convertible Securities or (iii) the rate at which any Convertible Securities are convertible into or exchangeable for Common Stock, then the Exercise Price in effect at the time of such change shall be readjusted to the lesser of (1) 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 soldsold or (2) the Average Price on the date of such change; provided that no adjustment shall be made if such adjustment would result in an increase of the Exercise Price then in effect.

Appears in 2 contracts

Samples: Level 8 Systems Inc, Level 8 Systems Inc

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Change in Option Price or Rate of Conversion. If there is a change at any time in (i) the purchase price provided for in any Options, (ii) the additional consideration, if any, payable upon the issue, conversion or exchange of any Convertible Securities Securities, or (iii) the rate at which any Convertible Securities are convertible into or exchangeable for Common StockStock change at any time, then the Exercise Maximum Conversion Price in effect at the time of such change shall be readjusted to the Exercise Maximum Conversion Price which that 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; provided that no adjustment shall be made if such adjustment would result in an increase of the Exercise Maximum Conversion Price then in effect.

Appears in 1 contract

Samples: Securities Purchase Agreement (International Fuel Technology Inc)

Change in Option Price or Rate of Conversion. If there is a change at any time in (i) the purchase price provided for in any Options, (ii) the additional consideration, if any, payable upon the issue, conversion or exchange of any Convertible Securities or (iii) the rate at which any Convertible Securities are convertible into or exchangeable for Common Stock, then the Exercise Conversion Price in effect at the time of such change shall be readjusted to the Exercise Conversion 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; provided that no adjustment shall be made if such adjustment would result in an increase of the Exercise Conversion Price then in effect.

Appears in 1 contract

Samples: Securities Purchase Agreement (Digital Courier Technologies Inc)

Change in Option Price or Rate of Conversion. If there is a change at any time in (i) the purchase price provided for in any Options, (ii) the additional consideration, if any, payable upon the issue, conversion or exchange of any Convertible Securities Securities, or (iii) the rate at which any Convertible Securities are convertible into or exchangeable for Common StockStock change at any time, then the Exercise Price in effect at the time of such change shall be readjusted to the Exercise Price which that 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; provided that no adjustment shall be made if such adjustment would result in an increase of the Exercise Price then in effect.

Appears in 1 contract

Samples: Banjo & Matilda, Inc.

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