Adjustment to Conversion Price Sample Clauses
The Adjustment to Conversion Price clause defines how and when the conversion price of a security, such as a convertible note or preferred stock, may be modified after issuance. Typically, this clause outlines specific events—like stock splits, stock dividends, or subsequent equity issuances at lower prices—that trigger a recalculation of the conversion price to protect investors from dilution. Its core practical function is to ensure that investors maintain the economic value of their investment in the face of changes to the company’s capital structure, thereby allocating risk and preserving fairness.
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Adjustment to Conversion Price. Whenever the Conversion Price is adjusted pursuant to any provision of this Article IV, Borrower shall promptly deliver to each Holder a notice setting forth the Conversion Price after such adjustment and setting forth a brief statement of the facts requiring such adjustment.
Adjustment to Conversion Price. Whenever the Conversion Price is adjusted pursuant to any provision of this Section 5, the Company shall promptly deliver to each Holder a notice setting forth the Conversion Price after such adjustment and setting forth a brief statement of the facts requiring such adjustment.
Adjustment to Conversion Price. Whenever the Conversion Price is adjusted pursuant to any of this Section 5, the Company shall promptly mail to each Holder a notice setting forth the Conversion Price after such adjustment and setting forth a brief statement of the facts requiring such adjustment. If the Company issues a variable rate security, despite the prohibition thereon in the Purchase Agreement, the Company shall be deemed to have issued Common Stock or Common Stock Equivalents at the lowest possible conversion or exercise price at which such securities may be converted or exercised in the case of a Variable Rate Transaction (as defined in the Purchase Agreement).
Adjustment to Conversion Price. Whenever the Conversion Price is adjusted pursuant to any provision of this Section 7, the Corporation shall promptly deliver to each Holder a notice setting forth the Conversion Price after such adjustment and setting forth a brief statement of the facts requiring such adjustment.
Adjustment to Conversion Price. If a Holder has (1) not received ------------------------------ certificates for all shares of Common Stock within ten (10) Business Days following the expiration of the Delivery Period with respect to a conversion of Series B Preferred Stock for any reason, (2) not received certificates of shares of Common Stock free of any restrictive legend if such Holder is then entitled to unlegended shares under applicable law, or not received unlegended shares upon submission for removal of such restrictive legend or (3) received notice from the Company (including by way of public announcement) at any time of the Company's intention not to issue shares of Common Stock upon exercise by any Holder of its conversion rights in accordance with the terms of the Series B Preferred Stock, then the Holder, upon written notice to the Company, may void its Notice of Conversion with respect to, and retain or have returned, as the case may be, any shares of Series B Preferred Stock that have not been converted pursuant to such Holder's Notice of Conversion (provided that the voiding of a Holder's Notice of Conversion shall not affect the Company's obligations to make any payments which have accrued prior to the date of such notice pursuant to Section V.A or otherwise) and the Conversion Price shall, with respect to such conversion and thereafter, be the lesser of (a) the Conversion Price on the Conversion Date specified in the Notice of Conversion which resulted in the Conversion Default and (b) the lowest Conversion Price in effect during the period beginning on, and including, such Conversion Date through and including the earlier of the Cure Date and the date on which the Holder voids the conversion pursuant hereto. The Conversion Price shall thereafter be subject to further adjustment as provided herein (including by virtue of re-application of this Section V.B), but shall not be subject to upward adjustment. In any event the Conversion Price shall be reduced by at least one percent (1%) per day for each day that a Conversion Default exists.
Adjustment to Conversion Price. Whenever the Conversion Price is adjusted pursuant to any of this Section 7, the Company shall promptly mail to each Holder a notice setting forth the Conversion Price after such adjustment and setting forth a brief statement of the facts requiring such adjustment. If the Company issues a variable rate security, despite the prohibition thereon in the Purchase Agreement, the Company shall be deemed to have issued Common Stock or Common Stock Equivalents at the lowest possible conversion or exercise price at which such securities may be converted or exercised in the case of a Variable Rate Transaction (as defined in the Purchase Agreement), or the lowest possible adjustment price in the case of an MFN Transaction (as defined in the Purchase Agreement).
Adjustment to Conversion Price. Whenever the Conversion Price is adjusted pursuant to any provision of this Note, the Borrower shall promptly deliver to Lender a notice setting forth the Conversion Price after such adjustment and setting forth a brief statement of the facts requiring such adjustment.
Adjustment to Conversion Price. Whenever the Conversion Price is adjusted pursuant to any provision of this Section 5, Company shall within 10 calendar days of such adjustment deliver to Holder a notice setting forth the Conversion Price after such adjustment and setting forth a brief statement of the facts requiring such adjustment.
Adjustment to Conversion Price. The Conversion Price shall be adjusted from time to time as follows:
Adjustment to Conversion Price. Whenever the Conversion Price is adjusted pursuant to any of this Section 5, the Company shall promptly mail to each Holder a notice setting forth the Conversion Price after such adjustment and setting forth a brief statement of the facts requiring such adjustment. If the Company issues a variable rate security in a Variable Rate Transaction (as defined in the Subscription Agreement), despite the prohibition thereon in the Subscription Agreement, the Company shall be deemed to have issued Common Stock or Common Stock Equivalents at the lowest possible conversion or exercise price at which such securities may be converted or exercised.