Common use of Adjustments for Reclassification and Reorganization Clause in Contracts

Adjustments for Reclassification and Reorganization. If the common stock issuable upon redemption of the Warrants shall be changed into the same or different number of shares of any other class or classes of stock, whether by capital reorganization, reclassification or otherwise, the redemption rate shall, concurrently with the effectiveness of such reorganization or reclassification, be proportionately adjusted so that the Warrants shall be convertible into, in lieu of the number of shares of common stock which the holders would otherwise have been entitled to receive, a number of shares of such other class or classes of stock equivalent to the number of shares of common stock that would have been subject to receipt by the holders upon redemption of the Warrants immediately before that change.

Appears in 1 contract

Sources: Stock Purchase Agreement (Aero Performance Products, Inc.)

Adjustments for Reclassification and Reorganization. If the common stock issuable upon redemption conversion of the Warrants Series A Preferred shall be changed into the same or different number of shares of any other class or classes of stock, whether by capital reorganization, reclassification or otherwiseotherwise (other than a subdivision or combination of shares provided for in (d) above, the redemption rate Market Price shall, concurrently with the effectiveness of such reorganization or reclassification, be proportionately adjusted so that the Warrants Series A Preferred shall be convertible into, in lieu of the number of shares of common stock which the holders would otherwise have been entitled to receive, a number of shares of such other class or classes of stock equivalent to the number of shares of common stock that would have been subject to receipt by the holders upon redemption conversion of the Warrants Series A Preferred immediately before that change.

Appears in 1 contract

Sources: Stock Purchase Agreement (Thaon Communications Inc)

Adjustments for Reclassification and Reorganization. If the common stock Common Stock issuable upon redemption exercise of the these Warrants shall be changed into the same or a different number of shares of any other class or classes of stock, whether by capital reorganization, reclassification or otherwise, otherwise (other than a subdivision or combination of shares provided for in Section 2 above) the redemption rate Purchase Price then in effect shall, concurrently with the effectiveness of such reorganization or reclassification, be proportionately adjusted so that the these Warrants shall thereafter be convertible into, in lieu of the number of shares of common stock Common Stock which the holders would otherwise have been entitled to receive, a number of shares of such other class or classes of stock equivalent to the number of shares of common stock Common Stock that would have been subject to receipt received by the holders upon redemption conversion of the Warrants Series B Preferred Stock immediately before that change.

Appears in 1 contract

Sources: Warrant Agreement (Activbiotics Inc)