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

Stock Splits, Subdivisions, Reclassifications or Combinations. If the Corporation shall (A) declare a dividend or make a distribution on its Common Stock in shares of Common Stock, (B) subdivide or reclassify the outstanding shares of Common Stock into a greater number of shares, or (C) combine or reclassify the Outstanding Common Stock into a smaller number of shares, the Conversion Price in effect at the time of the record date for such dividend or distribution or the effective date of such subdivision, combination or reclassification shall be adjusted to the number obtained by multiplying the Conversion Price at which the shares of Series B Preferred Stock were theretofore convertible by a fraction, the numerator of which shall be the number of shares of Common Stock Outstanding immediately prior to such action, and the denominator of which shall be the number of shares of Common Stock Outstanding immediately following such action.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Proxim Corp), Securities Purchase Agreement (Proxim Corp)

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Stock Splits, Subdivisions, Reclassifications or Combinations. If the Corporation Company shall (Ai) declare a dividend or make a distribution on its Common Stock in shares of Common Stock, (Bii) subdivide or reclassify the outstanding shares of Common Stock into a greater number of shares, or (Ciii) combine or reclassify the Outstanding outstanding Common Stock into a smaller number of shares, the applicable Conversion Price in effect at the time of the record date for such dividend or distribution or the effective date of such subdivision, combination or reclassification shall be adjusted to the number obtained by multiplying the Conversion Price at which the shares of Series B Convertible Preferred Stock were theretofore convertible by a fraction, the numerator of which shall be the number of shares of Common Stock Outstanding outstanding immediately prior to such action, and the denominator of which shall be the number of shares of Common Stock Outstanding outstanding immediately following such action.

Appears in 1 contract

Samples: Registration Rights Agreement (Nyfix Inc)

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Stock Splits, Subdivisions, Reclassifications or Combinations. If the Corporation shall (A) declare a dividend or make a distribution on its Common Stock in shares of Common Stock, (B) subdivide or reclassify the outstanding shares of Common Stock into a greater number of shares, or (C) combine or reclassify the Outstanding Common Stock into a smaller number of shares, the Conversion Price in effect at the time of the record date for such dividend or distribution or the effective date of such subdivision, combination or reclassification shall be adjusted to the number obtained by multiplying the Conversion Price at which the shares of Series B A Preferred Stock were theretofore convertible by a fraction, the numerator of which shall be the number of shares of Common Stock Outstanding immediately prior to such action, and the denominator of which shall be the number of shares of Common Stock Outstanding immediately following such action.

Appears in 1 contract

Samples: Securities Purchase Agreement (Proxim Corp)

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