Common use of Share Issuances Clause in Contracts

Share Issuances. Subject to the provisions of this Section 3.4, if the Company shall at any time prior to the conversion or repayment in full of the Principal Amount issue any shares of Common Stock or securities convertible into Common Stock to a person other than the Purchaser (except (i) pursuant to Subsections A or B above; (ii) pursuant to options, warrants or other obligations to issue shares outstanding on the date hereof as disclosed to Purchaser in writing; or (iii) pursuant to options that may be issued under any employee incentive stock option and/or any qualified stock option plan adopted by the Company) for a consideration per share (the "OFFER PRICE") less than the Fixed Conversion Price in effect at the time of such issuance, then the Fixed Conversion Price shall be immediately reset to such lower Offer Price. For purposes hereof, the issuance of any security of the Company convertible into or exercisable or exchangeable for Common Stock shall result in an adjustment to the Fixed Conversion Price at the time of issuance of such securities.

Appears in 2 contracts

Samples: Securities Purchase Agreement (It&e International Group), It&e International Group

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Share Issuances. Subject to the provisions of this Section 3.43.5, if the Company Txxxxx Equipment shall at any time prior to the conversion or repayment in full of the Principal Amount issue any shares of Common Stock or securities convertible into Common Stock to a person other than the Purchaser Holder (except (i) pursuant to Subsections A or B above; (ii) pursuant to options, warrants warrants, or other obligations to issue shares outstanding on the date hereof as disclosed to Purchaser Holder in writing; or (iii) pursuant to options that may be issued under any employee incentive stock option and/or any qualified stock option plan adopted by Txxxxx Equipment or (iv) pursuant to an acquisition by Borrower permitted under the Companyterms of the Security Agreement) for a consideration per share (the "OFFER PRICE"“Offer Price”) less than the Fixed Conversion Price in effect at the time of such issuance, then the Fixed Conversion Price shall be immediately reset to such lower Offer Price. For purposes hereof, the issuance of any security of the Company Txxxxx Equipment convertible into or exercisable or exchangeable for Common Stock shall result in an adjustment to the Fixed Conversion Price at upon the time of issuance of such securities.

Appears in 2 contracts

Samples: Maxim Mortgage Corp/, Maxim Mortgage Corp/

Share Issuances. Subject to the provisions of this Section 3.4, if the Company Borrower shall at any time prior to the conversion or repayment in full of the Principal Amount issue any shares of Common Stock or securities convertible into Common Stock to a person other than the Purchaser Holder (except (i) pursuant to Subsections A or B above; (ii) pursuant to options, warrants warrants, or other obligations to issue shares outstanding on the date hereof as disclosed to Purchaser Holder in writing; or (iii) pursuant to options that may be issued under any employee incentive stock option and/or any qualified stock option plan adopted by the CompanyBorrower) for a consideration per share (the "OFFER PRICEOffer Price") less than the Fixed Conversion Price in effect at the time of such issuance, then the Fixed Conversion Price shall be immediately reset to such lower Offer Price. For purposes hereof, the issuance of any security of the Company Borrower convertible into or exercisable or exchangeable for Common Stock shall result in an adjustment to the Fixed Conversion Price at the time of issuance of such securities.

Appears in 2 contracts

Samples: Ventures National Inc, Ventures National Inc

Share Issuances. Subject to the provisions of this Section 3.43.6, if the Company Borrower shall at any time prior to the conversion or repayment in full of the Principal Amount issue any shares of Common Stock or securities convertible into Common Stock to a person other than the Purchaser Holder (except otherwise than (i) pursuant to Subsections A or B above; (ii) pursuant to options, warrants warrants, or other obligations to issue shares outstanding on the date hereof as disclosed to Purchaser Holder in writing; or (iii) pursuant to options that may be issued under any employee incentive stock option and/or any qualified stock option plan adopted by the CompanyBorrower) for a consideration per share (the "OFFER PRICE"“Offer Price”) less than the Fixed Conversion Price in effect at the time of such issuance, then the Fixed Conversion Price shall be immediately reset to such lower Offer Price. For purposes hereof, the issuance of any security of the Company Borrower convertible into or exercisable or exchangeable for Common Stock shall result in an adjustment to the Fixed Conversion Price at only upon the time of issuance conversion, exercise or exchange of such securities.

Appears in 2 contracts

Samples: Security Agreement (Electric City Corp), Electric City Corp

Share Issuances. Subject to the provisions of this Section 3.4, if the Company Borrower shall at any time prior to the conversion or repayment in full of the Principal Amount issue any shares of Common Stock or securities convertible into Common Stock to a person other than the Purchaser Holder (except (i) pursuant to Subsections A or B above; (ii) pursuant to options, warrants warrants, or other obligations to issue shares outstanding on the date hereof as disclosed to Purchaser Holder in writing; or (iii) pursuant to options that may be issued under any employee incentive stock option and/or any qualified stock option plan adopted by the CompanyBorrower) for a consideration per share (the "OFFER PRICEOffer Price") less than the Fixed Conversion Price in effect at the time of such issuance, then the Fixed Conversion Price shall be immediately reset to such lower Offer Price. Price at the time of issuance of such securities For purposes hereof, the issuance of any security of the Company Borrower convertible into or exercisable or exchangeable for Common Stock shall result in an adjustment to the Fixed Conversion Price at the time of issuance of such securities.

Appears in 2 contracts

Samples: Science Dynamics Corp, Science Dynamics Corp

Share Issuances. Subject to the provisions of this Section 3.4, if the Company Borrower shall at any time prior to the conversion or repayment in full of the Principal Amount issue any shares of Common Stock or securities convertible into Common Stock to a person other than the Purchaser Holder (except (i) pursuant to Subsections A or B above; (ii) pursuant to options, warrants warrants, or other obligations to issue shares outstanding on the date hereof as disclosed to Purchaser Holder in writing; or (iii) pursuant to options that may be issued under any employee incentive stock option and/or any qualified stock option plan adopted by the CompanyBorrower) for a consideration per share (the "OFFER PRICEOffer Price") less than the Fixed Conversion Price in effect at the time of such issuance, then the Fixed Conversion Price shall be immediately reset to 102% of such lower Offer PricePrice at the time of issuance of such securities. For purposes hereof, the issuance of any security of the Company Borrower convertible into or exercisable or exchangeable for Common Stock shall result in an adjustment to the Fixed Conversion Price at the time of issuance of such securities.

Appears in 2 contracts

Samples: Island Pacific Inc, Island Pacific Inc

Share Issuances. Subject to the provisions of this Section 3.4, if ---------------- the Company Borrower shall at any time prior to the conversion or repayment in full of the Principal Amount issue any shares of Common Stock or securities convertible into Common Stock to a person other than the Purchaser Holder (except (i) pursuant to Subsections A or B above; (ii) pursuant to options, warrants warrants, or other obligations to issue shares outstanding on the date hereof as disclosed to Purchaser Holder in writing; or (iii) pursuant to options that may be issued under any employee incentive stock option and/or any qualified stock option plan adopted by the CompanyBorrower) for a consideration per share (the "OFFER PRICEOffer Price") less than the Fixed Conversion Price in effect at the time of such issuance, then the Fixed Conversion Price shall be immediately reset to such lower Offer PricePrice at the time of issuance of such securities. For purposes hereof, the issuance of any security of the Company Borrower convertible into or exercisable or exchangeable for Common Stock shall result in an adjustment to the Fixed Conversion Price at the time of issuance of such securities.

Appears in 1 contract

Samples: Sequiam Corp

Share Issuances. Subject to the provisions of this Section 3.4, if the Company Borrower shall at any time prior to the conversion or repayment in full of the Principal Amount issue any shares of Common Stock or securities convertible into Common Stock to a person other than the Purchaser Holder (except (i) pursuant to Subsections A or B above; (ii) pursuant to options, warrants warrants, or other obligations to issue shares outstanding on the date hereof as disclosed to Purchaser Holder in writing; or (iii) pursuant to options that may be issued under any employee incentive stock option and/or any qualified stock option plan adopted by the CompanyBorrower or (iv) issuances of the Disclosed Acquisition Common Stock), for a consideration per share (the "OFFER PRICEOffer Price") less than the Fixed Conversion Price in effect at the time of such issuance, then the Fixed Conversion Price shall be immediately reset to such lower Offer PricePrice at the time of issuance of such securities. For purposes hereof, the issuance of any security of the Company Borrower convertible into or exercisable or exchangeable for Common Stock shall result in an adjustment to the Fixed Conversion Price at the time of issuance of such securities.

Appears in 1 contract

Samples: Host America Corp

Share Issuances. Subject to the provisions of this Section 3.4, if the Company Borrower shall at any time prior to the conversion or repayment in full of the Principal Amount issue any shares of Common Stock or securities convertible into Common Stock to a person other than the Purchaser Holder (except (i) pursuant to Subsections A or B above; (ii) pursuant to options, warrants warrants, or other obligations to issue shares outstanding on the date hereof as disclosed to Purchaser the Holder in writing; or (iii) pursuant to options that may be issued under any employee incentive stock option and/or any qualified stock option plan adopted by the CompanyBorrower) for a consideration per share (the "OFFER PRICEOffer Price") less than the Fixed Holder Conversion Price or in effect at the time of such issuance, then the Fixed Holder Conversion Price shall be immediately reset to such lower Offer PricePrice at the time of issuance of such securities. For purposes hereof, the issuance of any security of the Company Borrower convertible into or exercisable or exchangeable for Common Stock shall result in an adjustment to the Fixed Holder Conversion Price at the time of issuance of such securities.

Appears in 1 contract

Samples: Smartserv Online Inc

Share Issuances. Subject to the provisions of this Section 3.43.6, if the Company shall at any time prior to the conversion or repayment in full of the Principal Amount issue any shares of Common Stock or securities convertible into Common Stock to a person Person other than the Purchaser Holder (except (i) pursuant to Subsections A Sections 3.6(a) or B (b) above; (ii) pursuant to options, warrants warrants, or other obligations to issue shares outstanding on the date hereof as disclosed to Purchaser the Holder in writing; or (iii) pursuant to options that may be issued under any employee incentive stock option and/or any qualified stock option plan adopted by the Company; or (iv) pursuant to issuances of Common Stock in connection with transactions otherwise permitted pursuant to Section 13(l)(viii) of the Security Agreement) for a consideration per share (the "OFFER PRICE") less than the Fixed Conversion Price in effect at the time of such issuance, then the Fixed Conversion Price shall be immediately reset to such lower Offer Price. For purposes hereof, the issuance of any security of the Company convertible into or exercisable or exchangeable for Common Stock shall result in an adjustment to the Fixed Conversion Price at upon the time of issuance of such securities.

Appears in 1 contract

Samples: Naturade Inc

Share Issuances. Subject to the provisions of this Section 3.43.6, if the Company Borrower shall at any time prior to the conversion or repayment in full of the Principal Amount issue any shares of Common Stock or securities convertible into Common Stock to a person other than the Purchaser Holder (except other than issuance of shares (i) pursuant to Subsections A or B above; (ii) pursuant to options, warrants warrants, or other obligations to issue shares outstanding on the date hereof as disclosed to Purchaser Holder in writing; or (iii) pursuant to options that may be issued under any employee incentive stock option and/or any qualified stock option plan adopted by the Company) Borrower for a consideration per share (the "OFFER PRICE"“Offer Price”) less than the Fixed Conversion Price in effect at the time of such issuance), then the Fixed Conversion Price shall be immediately reset to such lower Offer Price. For purposes hereof, the issuance of any security of the Company Borrower convertible into or exercisable or exchangeable for Common Stock shall result in an adjustment to the Fixed Conversion Price at only upon the time of issuance conversion, exercise or exchange of such securities.

Appears in 1 contract

Samples: Artemis International Solutions Corp

Share Issuances. Subject to the provisions of this Section 3.4, if the Company Borrower shall at any time prior to the conversion or repayment in full of the Principal Amount issue any shares of Common Stock or securities convertible into Common Stock to a person other than the Purchaser Holder (except (i) pursuant to Subsections A or B above; (ii) pursuant to options, warrants warrants, or other obligations to issue shares outstanding on the date hereof as disclosed to Purchaser Holder in writing; or (iii) pursuant to options that may be issued under any employee incentive stock option and/or any qualified stock option plan adopted by the CompanyBorrower) for a consideration per share (the "OFFER PRICEOffer Price") less than the any Fixed Conversion Price in effect at the time of such issuance, then the such Fixed Conversion Price shall be immediately reset to such lower Offer PricePrice at the time of issuance of such securities. For purposes hereof, the issuance of any security of the Company Borrower convertible into or exercisable or exchangeable for Common Stock shall result in an adjustment to the respective Fixed Conversion Price at the time of issuance of such securities.

Appears in 1 contract

Samples: Xstream Beverage Group Inc

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Share Issuances. Subject to the provisions of this Section 3.42.5, if the Company Txxxxx Equipment shall at any time prior to the conversion or repayment in full of the Principal Amount issue any shares of Common Stock or securities convertible into Common Stock to a person other than the Purchaser Holder (except (i) pursuant to Subsections A or B above; (ii) pursuant to options, warrants warrants, or other obligations to issue shares outstanding on the date hereof as disclosed to Purchaser Holder in writing; or (iii) pursuant to options that may be issued under any employee incentive stock option and/or any qualified stock option plan adopted by Txxxxx Equipment or (iv) pursuant to an acquisition by Borrower permitted under the Companyterms of the Security Agreement) for a consideration per share (the "OFFER PRICE"“Offer Price”) less than the Fixed Conversion Price in effect at the time of such issuance, then the Fixed Conversion Price shall be immediately reset to such lower Offer Price. For purposes hereof, the issuance of any security of the Company Txxxxx Equipment convertible into or exercisable or exchangeable for Common Stock shall result in an adjustment to the Fixed Conversion Price at upon the time of issuance of such securities.

Appears in 1 contract

Samples: Maxim Mortgage Corp/

Share Issuances. Subject to the provisions of this Section 3.43.5, if the Company Xxxxxx Equipment shall at any time prior to the conversion or repayment in full of the Principal Amount issue any shares of Common Stock or securities convertible into Common Stock to a person other than the Purchaser Holder (except (i) pursuant to Subsections A or B above; (ii) pursuant to options, warrants warrants, or other obligations to issue shares outstanding on the date hereof as disclosed to Purchaser Holder in writing; or (iii) pursuant to options that may be issued under any employee incentive stock option and/or any qualified stock option plan adopted by Xxxxxx Equipment or (iv) pursuant to an acquisition by Borrower permitted under the Companyterms of the Security Agreement) for a consideration per share (the "OFFER PRICEOffer Price") less than the Fixed Conversion Price in effect at the time of such issuance, then the Fixed Conversion Price shall be immediately reset to such lower Offer Price. For purposes hereof, the issuance of any security of the Company Xxxxxx Equipment convertible into or exercisable or exchangeable for Common Stock shall result in an adjustment to the Fixed Conversion Price at upon the time of issuance of such securities.

Appears in 1 contract

Samples: Thomas Equipment, Inc.

Share Issuances. Subject to the provisions of this Section 3.43.5, if the Company Borrower shall at any time prior to the conversion or repayment in full of the Principal Amount principal amount of this Note issue any shares of Common Stock or securities convertible into Common Stock to a person other than the Purchaser Holder (except (i) pursuant to Subsections A or B above; (ii) pursuant to options, warrants warrants, or other obligations to issue shares outstanding on the date hereof as disclosed to Purchaser Holder in writing; or (iii) pursuant to options that may be issued under any employee incentive stock option and/or any qualified stock option plan adopted by the CompanyBorrower) for a consideration per share (the "OFFER PRICE") less than the Fixed Conversion Price in effect at the time of such issuance, then the Fixed Conversion Price shall be immediately reset to such lower Offer Price. For purposes hereof, the issuance of any security of the Company Borrower convertible into or exercisable or exchangeable for Common Stock shall result in an adjustment to the Fixed Conversion Price at upon the time of issuance of such securities.

Appears in 1 contract

Samples: Bp International Inc

Share Issuances. Subject to the provisions of this Section 3.42.5, if the Company Xxxxxx Equipment shall at any time prior to the conversion or repayment in full of the Principal Amount issue any shares of Common Stock or securities convertible into Common Stock to a person other than the Purchaser Holder (except (i) pursuant to Subsections A or B above; (ii) pursuant to options, warrants warrants, or other obligations to issue shares outstanding on the date hereof as disclosed to Purchaser Holder in writing; or (iii) pursuant to options that may be issued under any employee incentive stock option and/or any qualified stock option plan adopted by Xxxxxx Equipment or (iv) pursuant to an acquisition by Borrower permitted under the Companyterms of the Security Agreement) for a consideration per share (the "OFFER PRICE"“Offer Price”) less than the Fixed Conversion Price in effect at the time of such issuance, then the Fixed Conversion Price shall be immediately reset to such lower Offer Price. For purposes hereof, the issuance of any security of the Company Xxxxxx Equipment convertible into or exercisable or exchangeable for Common Stock shall result in an adjustment to the Fixed Conversion Price at upon the time of issuance of such securities.

Appears in 1 contract

Samples: Thomas Equipment, Inc.

Share Issuances. Subject to the provisions of this Section 3.42.5, if the Company Xxxxxx Equipment shall at any time prior to the conversion or repayment in full of the Principal Amount issue any shares of Common Stock or securities convertible into Common Stock to a person other than the Purchaser Holder (except (i) pursuant to Subsections A or B above; (ii) pursuant to options, warrants warrants, or other obligations to issue shares outstanding on the date hereof as disclosed to Purchaser Holder in writing; or (iii) pursuant to options that may be issued under any employee incentive stock option and/or any qualified stock option plan adopted by Xxxxxx Equipment or (iv) pursuant to an acquisition by Borrower permitted under the Companyterms of the Security Agreement) for a consideration per share (the "OFFER PRICEOffer Price") less than the Fixed Conversion Price in effect at the time of such issuance, then the Fixed Conversion Price shall be immediately reset to such lower Offer Price. For purposes hereof, the issuance of any security of the Company Xxxxxx Equipment convertible into or exercisable or exchangeable for Common Stock shall result in an adjustment to the Fixed Conversion Price at upon the time of issuance of such securities.

Appears in 1 contract

Samples: Thomas Equipment, Inc.

Share Issuances. Subject to the provisions of this Section 3.4, if the Company Borrower shall at any time prior to the conversion or repayment in full of the Principal Amount issue any shares of Common Stock or securities convertible into Common Stock to a person other than the Purchaser Holder (except (iA) pursuant to Subsections A i or B ii above; (iiB) pursuant to options, warrants warrants, or other obligations to issue shares outstanding on the date hereof as disclosed to Purchaser Holder in writing; or (iiiC) pursuant to options that may be issued under any employee incentive stock option and/or any qualified stock option plan adopted by the CompanyBorrower) for a consideration per share (the "OFFER PRICEOffer Price") less than the Fixed Conversion Price in effect at the time of such issuance, then the Fixed Conversion Price shall be immediately reset to 102% of such lower Offer PricePrice at the time of issuance of such securities. For purposes hereof, the issuance of any security of the Company Borrower convertible into or exercisable or exchangeable for Common Stock shall result in an adjustment to the Fixed Conversion Price at the time of issuance of such securities.

Appears in 1 contract

Samples: Island Pacific Inc

Share Issuances. Subject to the provisions of this Section 3.4, if the Company Borrower shall at any time prior to the conversion or repayment in full of the Principal Amount issue any shares of Class A Common Stock or securities convertible into Class A Common Stock to a person other than the Purchaser Holder (except (i) pursuant to Subsections Subsection A or B above; (ii) pursuant to options, warrants warrants, or other obligations to issue shares outstanding on the date hereof as disclosed to Purchaser Holder in writing; or (iii) pursuant to options that may be issued under any employee incentive stock option and/or or any qualified employee stock option plan or qualified employee stock purchase plan adopted by the CompanyBorrower) for a consideration per share (the "OFFER PRICEOffer Price") less than the Fixed Conversion Price in effect at the time of such issuance, then the Fixed Conversion Price shall be immediately reset to such lower Offer PricePrice at the time of issuance of such securities. For purposes hereof, the issuance of any security of the Company Borrower convertible into or exercisable or exchangeable for Class A Common Stock shall result in an adjustment to the Fixed Conversion Price at the time of issuance of such securities.

Appears in 1 contract

Samples: Locateplus Holdings Corp

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