Common use of Stock Splits, Subdivisions, Reclassifications or Combinations Clause in Contracts

Stock Splits, Subdivisions, Reclassifications or Combinations. In case outstanding Common Shares shall be subdivided or reclassified into a greater number of Common Shares, the Conversion Price in effect at the close of business on the day upon which such subdivision or reclassification becomes effective shall be proportionately reduced, and conversely, in case outstanding Common Shares shall each be combined or reclassified into a smaller number of Common Shares, the Conversion Price in effect at the close of business on the day upon which such combination or reclassification becomes effective shall be proportionately increased, such reduction or increase, as the case may be, to become effective immediately prior to the opening of business on the day following the day upon which such subdivision or combination becomes effective.

Appears in 5 contracts

Samples: Investment Agreement (Inspirato Inc), Investment Agreement (Inspirato Inc), Convertible Note Purchase Agreement

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Stock Splits, Subdivisions, Reclassifications or Combinations. In case outstanding shares of Common Shares Stock shall be subdivided or reclassified into a greater number of shares of Common SharesStock, the Conversion Price in effect at the close of business on the day upon which such subdivision or reclassification becomes effective shall be proportionately reduced, and conversely, in case outstanding shares of Common Shares Stock shall each be combined or reclassified into a smaller number of shares of Common SharesStock, the Conversion Price in effect at the close of business on the day upon which such combination or reclassification becomes effective shall be proportionately increased, such reduction or increase, as the case may be, to become effective immediately prior to the opening of business on the day following the day upon which such subdivision or combination becomes effective.

Appears in 3 contracts

Samples: Conversion Agreement and General Release (Digital Creative Development Corp), Conversion Agreement and General Release (Digital Creative Development Corp), Conversion Agreement and General Release (Digital Creative Development Corp)

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