Conversion or Redemption. Should all of the Company's capital ------------------------ stock of the same class and series as the Warrant Shares be, or if outstanding would be, at any time prior to the expiration of this Warrant or any portion thereof, redeemed or converted into shares of the Company's Common Stock, then this Warrant shall immediately become exercisable or convertible for that number of shares of the Company's Common Stock equal to the number of shares of the Common Stock that would have been received if this Warrant had been exercised in full and the capital stock received thereupon had been simultaneously converted immediately prior to such event, and the Stock Purchase Price shall be immediately adjusted to equal the quotient obtained by dividing (x) the aggregate Stock Purchase Price of the maximum number of shares of capital stock for which this Warrant was exercisable or convertible immediately prior to such conversion or redemption, by (y) the number of shares of Common Stock for which this Warrant is exercisable or convertible immediately after such conversion or redemption.
Appears in 2 contracts
Sources: Series C Preferred Stock and Warrant Purchase Agreement (Worldres Com Inc), Note and Warrant Purchase Agreement (Worldres Com Inc)
Conversion or Redemption. Should all of the Company's capital Series B ------------------------ stock of the same class and series as the Warrant Shares Preferred Stock be, or if outstanding would be, at any time prior to the expiration of this Warrant or any portion thereof, redeemed or converted into shares of the Company's Common Stock, then this Warrant shall immediately become exercisable or convertible for that number of shares of the Company's Common Stock equal to the number of shares of the Common Stock that would have been received if this Warrant had been exercised in full and the capital stock Series B Preferred Stock received thereupon had been simultaneously converted immediately prior to such event, and the Stock Purchase Price shall be immediately adjusted to equal the quotient obtained by dividing (x) the aggregate Stock Purchase Price of the maximum number of shares of capital stock Series B Preferred Stock for which this Warrant was exercisable or convertible immediately prior to such conversion or redemption, by (y) the number of shares of Common Stock for which this Warrant is exercisable or convertible immediately after such conversion or redemption.
Appears in 2 contracts
Sources: Warrant Agreement (Worldres Com Inc), Warrant Agreement (Worldres Com Inc)
Conversion or Redemption. Should all of the Company's capital ------------------------ stock of the same class and series as the Warrant Shares ’s Series C Convertible Preferred Stock be, or if outstanding would be, at any time prior to the expiration of this Warrant or any portion thereof, redeemed or converted into shares of the Company's ’s Common Stock, then this Warrant shall immediately become exercisable or convertible for that number of shares of the Company's ’s Common Stock equal to the number of shares of the Common Stock that would have been received if this Warrant had been exercised in full and the capital stock Series C Convertible Preferred Stock received thereupon had been simultaneously converted immediately prior to such event, and the Stock Purchase Price shall be immediately adjusted to equal the quotient obtained by dividing (x) the aggregate Stock Purchase Price of the maximum number of shares of capital stock Series C Convertible Preferred Stock for which this Warrant was exercisable or convertible immediately prior to such conversion or redemption, by (y) the number of shares of Common Stock for which this Warrant is exercisable or convertible immediately after such conversion or redemption.
Appears in 1 contract