Common use of Adjustment for Reclassifications Clause in Contracts

Adjustment for Reclassifications. In case, at any time prior to the Debentures being paid in full, the Company undertakes any capital reorganization, reclassification of the Debenture Stock, the consolidation or merger of the Company with or into another corporation (other than a consolidation or merger in which the Company is the surviving corporation), or of the sale or other disposition of all or substantially all the properties and assets of the Company in its entirety to any other person, the Debentures shall, after such reorganization, reclassification, consolidation, merger, sale or other disposition (a "Reclassification"), be exercisable so that upon conversion each Creditor shall procure, in lieu of each share of Debenture Stock, the kind and amount of shares of stock, other securities, money or property receivable upon such Reclassification by the holder of one share issuable upon exercise of the Debentures had the Debentures been exercised immediately prior to such Reclassification at the price that would have been effective prior to such Reclassification. The provisions of this Paragraph I.3 shall similarly apply to successive Reclassifications.

Adjustment for Reclassifications. In case, at any time prior to the Debentures being paid in full, the Company undertakes any capital reorganization, reclassification of the Debenture Stock, the consolidation or merger of the Company with or into another corporation (other than a consolidation or merger in which the Company is the surviving corporation), or of the sale or other disposition of all or substantially all the properties and assets of the Company in its entirety to any other person, the Debentures shall, after such reorganization, reclassification, consolidation, merger, sale or other disposition (a "Reclassification"), be exercisable so that upon conversion each Creditor shall procure, in lieu of each share of Debenture Stock, the kind and amount of shares of stock, other securities, money or property receivable upon such Reclassification by the holder of one share issuable upon exercise of the Debentures had the Debentures been exercised immediately prior to such Reclassification at the price that would have been effective prior to such Reclassification. The provisions of this Paragraph I.3 Section 2.3 shall similarly apply to successive Reclassifications.

Adjustment for Reclassifications. In case, at any time prior to the Debentures being paid in full, the Company undertakes any capital reorganization, reclassification of the Debenture Stock, the consolidation or merger of the Company with or into another corporation (other than a consolidation or merger in which the Company is the surviving corporation), or of the sale or other disposition of all or substantially all the properties and assets of the Company in its entirety to any other person, the Debentures Debenture shall, after such reorganization, reclassification, consolidation, merger, sale or other disposition (a "Reclassification"), be exercisable so that upon conversion each the Creditor shall procure, in lieu of each share of Debenture Stock, the kind and amount of shares of stock, other securities, money or property receivable upon such Reclassification by the holder of one share issuable upon exercise of the Debentures had the Debentures been exercised immediately prior to such Reclassification at the price that would have been effective prior to such Reclassification. The provisions of this Paragraph I.3 Section 2.3 shall similarly apply to successive Reclassifications.