Common use of Stock Splits, Combinations and Dividends Clause in Contracts

Stock Splits, Combinations and Dividends. If the shares of Common Stock outstanding at any time after the date hereof are subdivided or combined into a greater or smaller number of shares of Common Stock, or if a dividend is paid on the Common Stock in shares of Common Stock, the Conversion Price or the Conversion Shares to be issued, as the case may be, shall be proportionately reduced in case of subdivision of shares or stock dividend or proportionately increased in the case of combination of shares, in each such case by the ratio which the total number of shares of Common Stock outstanding immediately after such event bears to the total number of shares of Common Stock outstanding immediately prior to such event.

Appears in 6 contracts

Sources: Convertible Promissory Note (Resource Exchange of America Corp.), Convertible Note (Ceelox Inc.), Securities Agreement (Utix Group Inc)

Stock Splits, Combinations and Dividends. If the shares of Common Stock outstanding at any time after the date hereof are subdivided or combined into a greater or smaller number of shares of Common Stock, or if a dividend is paid on the Common Stock or any preferred stock issued by the Borrower in shares of Common Stock, the Fixed Conversion Price or the Conversion Shares to be issuedPrice, as the case may be, shall be proportionately reduced in case of subdivision of shares or stock dividend or proportionately increased in the case of combination of shares, in each such case by the ratio which the total number of shares of Common Stock outstanding immediately after such event bears to the total number of shares of Common Stock outstanding immediately prior to such event.

Appears in 4 contracts

Sources: Secured Convertible Term Note (Science Dynamics Corp), Secured Convertible Term Note (Elec Communications Corp), Secured Convertible Term Note (Science Dynamics Corp)

Stock Splits, Combinations and Dividends. If the shares of Common Stock outstanding at any time after the date hereof are subdivided or combined into a greater or smaller number of shares of Common StockStock (other than a change in par value, from par value to no par value or from no par value to par value), or if a dividend is paid on the Common Stock in shares of Common Stock, the Fixed Conversion Price or the Conversion Shares to be issuedPrice, as the case may be, shall be proportionately reduced in case of subdivision of shares or stock dividend or proportionately increased in the case of combination of shares, in each such case by the ratio which the total number of shares of Common Stock outstanding immediately after such event bears to the total number of shares of Common Stock outstanding immediately prior to such event.

Appears in 3 contracts

Sources: Convertible Term Note (Tidel Technologies Inc), Convertible Term Note (Tidel Technologies Inc), Convertible Term Note (Tidel Technologies Inc)

Stock Splits, Combinations and Dividends. If the shares of Common Stock outstanding at any time after the date hereof are subdivided or combined into a greater or smaller number of shares of Common StockStock (other than a change in par value, from par value to no par value or from no par value to par value), or if a dividend is paid on the Common Stock in shares of Common Stock, the Fixed Conversion Price or the Conversion Shares to be issued, as the case may be, shall be proportionately reduced in case of subdivision of shares or stock dividend or proportionately increased in the case of combination of shares, in each such case by the ratio which the total number of shares of Common Stock outstanding immediately after such event bears to the total number of shares of Common Stock outstanding immediately prior to such event.

Appears in 2 contracts

Sources: Convertible Term Note (Tidel Technologies Inc), Convertible Term Note (Tidel Technologies Inc)

Stock Splits, Combinations and Dividends. If the shares of Common Stock outstanding at any time after the date hereof are subdivided or combined into a greater or smaller number of shares of Common Stock, or if a dividend is paid on the Common Stock in shares of Common Stock, if any portion of the Conversion Price is calculated based upon bid closing prices occurring prior to such event, the Conversion Price or the Conversion Shares to be issuedPrice, as the case may be, shall be proportionately reduced in case of subdivision of shares or stock dividend or proportionately increased in the case of combination of shares, in each such case by the ratio which the total number of shares of Common Stock outstanding immediately after such event bears to the total number of shares of Common Stock outstanding immediately prior to such event with respect to the closing bid prices used in the calculation of the Conversion Price occurring prior to such event.

Appears in 1 contract

Sources: Common Stock and Warrant Agreement (Command Center, Inc.)

Stock Splits, Combinations and Dividends. If the shares of Common Stock outstanding at any time after the date hereof are subdivided or combined into a greater or smaller number of shares of Common Stock, or if a dividend is paid on the Common Stock in shares of Common Stock, the Conversion Price or the Conversion Adjustment Shares to be issued, as the case may be, shall be proportionately reduced in case of subdivision of shares or stock dividend or proportionately increased in the case of combination of shares, in each such case by the ratio which the total number of shares of Common Stock outstanding immediately after such event bears to the total number of shares of Common Stock outstanding immediately prior to such event.

Appears in 1 contract

Sources: Convertible Note Agreement (Care Concepts I Inc /Fl/)