Common use of Adjustments for Certain Dividends and Distributions Clause in Contracts

Adjustments for Certain Dividends and Distributions. If the Maker shall at any time or from time to time after the Closing Date (but whether before or after the Issuance Date) make or issue or set a record date for the determination of holders of Ordinary Shares entitled to receive a dividend or other distribution payable in Ordinary Shares, then, and in each event, the applicable Floor Price in effect immediately prior to such event shall be decreased as of the time of such issuance or, in the event such record date shall have been fixed, as of the close of business on such record date, by multiplying the applicable Floor Price then in effect by a fraction: (1) the numerator of which shall be the total number of Ordinary Shares issued and outstanding immediately prior to the time of such issuance or the close of business on such record date; and (2) the denominator of which shall be the total number of Ordinary Shares issued and outstanding immediately prior to the time of such issuance or the close of business on such record date plus the number of Ordinary Shares issuable in payment of such dividend or distribution.

Appears in 7 contracts

Sources: Convertible Note (ClimateRock), Convertible Note Agreement (Digiasia Corp.), Convertible Note (Digiasia Corp.)

Adjustments for Certain Dividends and Distributions. If the Maker shall at any time or from time to time after the Closing Date (but whether before or after the Issuance Date) make or issue or set a record date for the determination of holders of Ordinary Common Shares entitled to receive a dividend or other distribution payable in Ordinary Common Shares, then, and in each event, the applicable Floor Conversion Price in effect immediately prior to such event shall be decreased as of the time of such issuance or, in the event such record date shall have been fixed, as of the close of business on such record date, by multiplying the applicable Floor Conversion Price then in effect by a fraction: (1) the numerator of which shall be the total number of Ordinary Common Shares issued and outstanding immediately prior to the time of such issuance or the close of business on such record date; and (2) the denominator of which shall be the total number of Ordinary Common Shares issued and outstanding immediately prior to the time of such issuance or the close of business on such record date plus the number of Ordinary Common Shares issuable in payment of such dividend or distribution.

Appears in 4 contracts

Sources: Convertible Note (DevvStream Corp.), Convertible Note (DevvStream Corp.), Convertible Note (DevvStream Corp.)

Adjustments for Certain Dividends and Distributions. If the Maker shall at any time or from time to time after the Closing Date (but whether before or after the Issuance Date) , make or issue or set a record date for the determination of holders holder of Ordinary Shares Common Stock entitled to receive a dividend or other distribution payable in Ordinary Sharesshares of Common Stock, then, and in each event, the applicable Floor Fixed Conversion Price in effect immediately prior to such event shall be decreased as of the time of such issuance or, in the event such record date shall have been fixed, as of the close of business on such record date, by multiplying multiplying, as applicable, the applicable Floor Fixed Conversion Price then in effect by a fraction: (1) the numerator of which shall be the total number of Ordinary Shares shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date; and (2) the denominator of which shall be the total number of Ordinary Shares shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date plus the number of Ordinary Shares shares of Common Stock issuable in payment of such dividend or distribution.

Appears in 2 contracts

Sources: Secured Convertible Promissory Note (Armitec Inc), Secured Convertible Promissory Note (Armitec Inc)

Adjustments for Certain Dividends and Distributions. If --------------------------------------------------- the Maker shall at any time or from time to time after the Closing Date (but whether before or after the Issuance Date) , make or issue or set a record date for the determination of holders of Ordinary Shares Common Stock entitled to receive a dividend or other distribution payable in Ordinary Sharesshares of Common Stock, then, and in each event, the applicable Floor Conversion Price in effect immediately prior to such event shall be decreased as of the time of such issuance or, in the event such record date shall have been fixed, as of the close of business on such record date, by multiplying multiplying, the applicable Floor Conversion Price then in effect by a fraction: (1) the numerator of which shall be the total number of Ordinary Shares shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date; and (2) the denominator of which shall be the total number of Ordinary Shares shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date plus the number of Ordinary Shares shares of Common Stock issuable in payment of such dividend or distribution.

Appears in 1 contract

Sources: Note and Warrant Purchase Agreement (Charys Holding Co Inc)

Adjustments for Certain Dividends and Distributions. If the Maker shall at any time or from time to time after the Closing Date (but whether before or after the Original Issuance Date) make or issue or set a record date for the determination of holders of Ordinary Shares Common Stock entitled to receive a dividend or other distribution payable in Ordinary SharesCommon Stock, then, and in each event, the applicable Floor Conversion Price in effect immediately prior to such event shall be decreased as of the time of such issuance or, in the event such record date shall have been fixed, as of the close of business on such record date, by multiplying the applicable Floor Conversion Price then in effect by a fraction: (1) the numerator of which shall be the total number of Ordinary Shares shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date; and (2) the denominator of which shall be the total number of Ordinary Shares shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date plus the number of Ordinary Shares shares of Common Stock issuable in payment of such dividend or distribution.

Appears in 1 contract

Sources: Note (Gse Systems Inc)

Adjustments for Certain Dividends and Distributions. If the Maker shall at any time or from time to time after the Closing Date (but whether before or after the Issuance Date) , make or issue or set a record date for the determination of holders of Ordinary Shares Common Stock entitled to receive a dividend or other distribution payable in Ordinary Sharesshares of Common Stock, then, and in each event, the applicable Floor Fixed Conversion Price in effect immediately prior to such event shall be decreased as of the time of such issuance or, in the event such record date shall have been fixed, as of the close of business on such record date, by multiplying multiplying, as applicable, the applicable Floor Fixed Conversion Price then in effect by a fraction: (1) the numerator of which shall be the total number of Ordinary Shares shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date; and (2) the denominator of which shall be the total number of Ordinary Shares shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date plus the number of Ordinary Shares shares of Common Stock issuable in payment of such dividend or distribution.

Appears in 1 contract

Sources: Note Agreement (Imaging Technologies Corp/Ca)

Adjustments for Certain Dividends and Distributions. If the Maker shall at any time or from time to time after the Closing Date (but whether before or after the Issuance Date) make declare a payment of dividend or issue distribution in the form of a script dividend or set a record date for the determination of holders of Ordinary Shares entitled to receive a such dividend or other distribution payable in Ordinary Sharesdistribution, then, and in each event, the applicable Floor Conversion Price in effect immediately prior to such event shall be decreased as of the time of such issuance declaration or, in the event such record date shall have been fixed, as of the close of business on such record date, by multiplying the applicable Floor Conversion Price then in effect by a fraction: (1) the numerator of which shall be the total number of Ordinary Shares issued and outstanding immediately prior to the time of such issuance declaration or the close of business on such record date; and (2) the denominator of which shall be the total number of Ordinary Shares issued and outstanding immediately prior to the time of such issuance declaration or the close of business on such record date plus the number of Ordinary Shares issuable in payment of such dividend or distribution.

Appears in 1 contract

Sources: Note Agreement (Webuy Global LTD)

Adjustments for Certain Dividends and Distributions. If the Maker shall at any time or from time to time after the Closing Date (but whether before or after the Issuance Date) , make or issue or set a record date for the determination of holders of Ordinary Shares Common Stock entitled to receive a dividend or other distribution payable in Ordinary Sharesshares of Common Stock, then, and in each event, the applicable Floor Conversion Price in effect immediately prior to such event shall be decreased as of the time of such issuance or, in the event such record date shall have been fixed, as of the close of business on such record date, by multiplying multiplying, as applicable, the applicable Floor Conversion Price then in effect by a fraction: (1) the numerator of which shall be the total number of Ordinary Shares shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date; and (2) the denominator of which shall be the total number of Ordinary Shares shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date plus the number of Ordinary Shares shares of Common Stock issuable in payment of such dividend or distribution.

Appears in 1 contract

Sources: Senior Secured Convertible Promissory Note (Vertel Corp)

Adjustments for Certain Dividends and Distributions. If the --------------------------------------------------- Maker shall at any time or from time to time after the Closing Date (but whether before or after the Issuance Date) , make or issue or set a record date for the determination of holders of Ordinary Shares Common Stock entitled to receive a dividend or other distribution payable in Ordinary Sharesshares of Common Stock, then, and in each event, the applicable Floor Conversion Price in effect immediately prior to such event shall be decreased as of the time of such issuance or, in the event such record date shall have been fixed, as of the close of business on such record date, by multiplying multiplying, as applicable, the applicable Floor Conversion Price then in effect by a fraction: (1) the numerator of which shall be the total number of Ordinary Shares shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date; and (2) the denominator of which shall be the total number of Ordinary Shares shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date plus the number of Ordinary Shares shares of Common Stock issuable in payment of such dividend or distribution.

Appears in 1 contract

Sources: Convertible Promissory Note (Vertel Corp)