Common use of Adjustments for Stock Splits and Subdivisions Clause in Contracts

Adjustments for Stock Splits and Subdivisions. In the event the Company shall at any time or from time to time after the Issuance Date, fix a record date to effect a split or subdivision of the outstanding shares of Common Stock or to determine the holders of the outstanding shares of Common Stock entitled to receive a dividend or other distribution payable in additional shares of Common Stock or other securities or rights convertible into, or entitling the holder thereof to receive directly or indirectly, additional shares of Common Stock (hereinafter referred to as “Common Share Equivalents”) without payment of any consideration by such holder for the additional shares of Common Stock or Common Share Equivalents (including the additional shares of Common Stock issuable upon conversion or exercise thereof), then, as of such record date (or the date of such dividend distribution, split or subdivision if no record date is fixed), the IPO Conversion Price or the Modified Conversion Price, as the case may be, shall be appropriate decreased so that the number of shares of Common Stock issuable upon conversion of this Note or the number of shares of Common Stock issuable upon conversion of the Series G Preferred Stock, as the case may be, shall be appropriately increased in proportion to such increase in the aggregate number of shares of Common Stock outstanding and those issuable with respect to such Common Share Equivalents.

Appears in 2 contracts

Sources: Convertible Note Purchase Agreement (Ceres, Inc.), Convertible Note Purchase Agreement (Ceres, Inc.)

Adjustments for Stock Splits and Subdivisions. In the event the Company shall should at any time or from time to time after the Issuance Date, date of issuance hereof fix a record date to effect for the effectuation of a split or subdivision of the outstanding shares of if Common Stock or to determine the determination of holders of the outstanding shares of Common Stock entitled to receive a dividend or other distribution payable in additional shares of Common Stock or other securities or rights convertible into, or entitling the holder thereof to receive directly or indirectly, additional shares of Common Stock (hereinafter referred to as the "Common Share Stock Equivalents") without payment of any consideration by such holder for the additional shares of Common Stock or Common Share Equivalents (including the additional shares of Common Stock issuable upon conversion or exercise thereof), Equivalents then, as of such record date date, (or the date of such dividend distribution, split or subdivision if no record date is fixed), the IPO Conversion Price or the Modified Conversion Price, as the case may be, of this Debenture shall be appropriate appropriately decreased so that the number of shares of Common Stock issuable upon conversion of this Note or Debenture shall be increased in proportion to such increase of outstanding shares. If the number of shares of Common Stock outstanding any time after the date hereof is decreased by a combination of the outstanding shares of Common Stock, then, following the record date of such combination, the Conversion Price of this Debenture shall be appropriately increased so that the number of shares of Common Stock issuable upon on conversion of the Series G Preferred Stock, as the case may be, hereof shall be appropriately increased decreased in proportion to such increase decrease in the aggregate number of shares of Common Stock outstanding and those issuable with respect to such Common Share Equivalentsshares.

Appears in 1 contract

Sources: Convertible Debenture (International Cosmetics Marketing Co)