Adjustment of Exercise Price and Number of Shares upon ------------------------------------------------------ Issuance of Common Stock. Except as otherwise provided in Paragraphs ------------------------ 4(c) and 4(e) hereof, if and whenever on or after the date of issuance of this Warrant, the Company issues or sells, or in accordance with Paragraph 4(b) hereof is deemed to have issued or sold, any shares of Common Stock for no consideration or for a consideration per share (before deduction of reasonable expenses or commissions or underwriting discounts or allowances in connection therewith) less than the Market Price on the date of issuance (a "Dilutive Issuance"), then immediately upon the Dilutive Issuance, the Exercise Price will be reduced to a price determined by multiplying the Exercise Price in effect immediately prior to the Dilutive Issuance by a fraction, (i) the numerator of which is an amount equal to the sum of (x) the number of shares of Common Stock actually outstanding immediately prior to the Dilutive Issuance, plus (y) the quotient of the aggregate consideration, calculated as set forth in Paragraph 4(b) hereof, received by the Company upon such Dilutive Issuance divided by the Market Price in effect immediately prior to the Dilutive Issuance, and (ii) the denominator of which is the total number of shares of Common Stock Deemed Outstanding (as defined below) immediately after the Dilutive Issuance.
Adjustment of Exercise Price and Number of Shares upon Issuance ------------------------------------------------------------------ of Common Stock. Except as otherwise provided in Paragraphs 4(c) and 4(d) --------------- hereof, if and whenever on or after the date of issuance of this Warrant, the Company issues or sells, or in accordance with Paragraph 4(b) hereof is deemed to have issued or sold, any shares of Common Stock for no consideration or for a consideration per share (before deduction of reasonable expenses or commissions or underwriting discounts or allowances in connection therewith) less than the then current Market Price (as hereinafter defined) of the Common Stock on the date the Company fixes the price of such issuance of Common Stock (a "Dilutive Issuance"), then immediately upon the Dilutive Issuance, the Exercise Price will be reduced to a price determined by dividing (i) the sum of (x) the product derived by multiplying the Exercise Price in effect immediately prior to the Dilutive Issuance times the number of shares of Common Stock Deemed Outstanding (as hereinafter defined) immediately prior to the Dilutive Issuance, plus (y) the quotient derived from dividing the aggregate consideration (before deduction for reasonable expenses or commissions or underwriting discounts or allowances in connection therewith), calculated as set forth in Section 4(b) hereof, received by the Company upon such Dilutive Issuance by the Market Price on the date of issuance; by (ii) the total number of shares of Common Stock Deemed Outstanding immediately after the Dilutive Issuance. Upon each such adjustment of the Exercise Price hereunder, the number of shares of Common Stock acquirable upon exercise of this warrant will be adjusted to the number of shares determined by multiplying the Exercise Price in effect immediately prior to such adjustment by the number of shares of Common Stock acquirable upon exercise of this Warrant immediately prior to such adjustment and dividing the product thereof by the Exercise Price resulting from such adjustment.
Adjustment of Exercise Price and Number of Shares of Common ----------------------------------------------------------- Stock or Warrants. -----------------
Adjustment of Exercise Price and Number and Kind of Securities -------------------------------------------------------------- Purchasable upon Exercise of Warrants. -------------------------------------
Adjustment of Exercise Price and Number. OF SHARES UPON ISSUANCE OF ------------------------------------------------------------------ COMMON STOCK. Except as otherwise provided in Sections 4(c) and 4(e) hereof, if ------------ and whenever on or after the date of the Closing under and as defined in the Securities Purchase Agreement, the Company issues or sells, or in accordance with Section 4(b) hereof is deemed to have issued or sold, any shares of Common Stock for no consideration or for a consideration per share less than the Exercise Price in effect immediately prior to such issuance or sale ("DILUTIVE ISSUANCE"), then effective immediately upon the Dilutive Issuance, the Exercise Price will be adjusted in accordance with the following formula: E' = (O x E) +P --------------------- CSDO where: E' = the adjusted Exercise Price; E = the then current Exercise Price; O = the number of shares of Common Stock outstanding immediately = prior to the Dilutive Issuance; P = the aggregate consideration, calculated as set forth in Section 4(b)hereof, received by the Company upon such Dilutive CSDO = Issuance; and the total number of shares of Common Stock Deemed Outstanding (as defined in Section 4(1)) immediately after the Dilutive Issuance.
Adjustment of Exercise Price and Number of Shares and Class ----------------------------------------------------------- of Capital Stock Purchasable. The Exercise Price and the number of Shares and ---------------------------- classes of capital stock of the Company purchasable upon the exercise of each Option are subject to adjustment from time to time as set forth in this Section 6.
Adjustment of Exercise Price and Number of Shares of Common ----------------------------------------------------------- Stock Purchasable or Number of Warrants. In addition to any reduction in the --------------------------------------- Exercise Price required pursuant to Section 2(b)(vii) above, prior to the Expiration Date, the Exercise Price, the number of shares of Common Stock purchasable upon the exercise of each Warrant and the number of Warrants outstanding are subject to adjustment from time to time upon the occurrence of any of the events enumerated in this Section 14.
Adjustment of Exercise Price and Number of Shares upon --------------------------------------------------------- Issuance of Common Stock. If and whenever on or after the date of issuance of --------------------------- this Warrant, the Company issues or sells, or is deemed to have issued or sold, any shares of Common Stock (other than shares of Common Stock issuable by the Company (whether now or in the future) in connection with an approved stock plan and other than Common Stock or securities exercisable for shares of Common Stock issued to the Holder pursuant to the Purchase Agreement) for a consideration per
Adjustment of Exercise Price and Number of Shares upon Issuance of ------------------------------------------------------------------ Common Stock. Except as otherwise provided in Section 5(c) and 5(d) hereof, if ------------ and whenever after the First Closing Date, the Company issues or sells, or in accordance with Section 5(b) hereof is deemed to have issued or sold, any shares of Common Stock for no consideration or for a consideration per share less than the Market Price on the date of issuance (a "Dilutive Issuance"), then effective immediately upon the Dilutive Issuance, the Exercise Price will be adjusted in accordance with the following formula: E' = (E) (O + P/M) / (CSDO) where:
Adjustment of Exercise Price and Number of Shares of ---------------------------------------------------- Common Stock. In order to prevent dilution of the rights granted under this ------------ Warrant and grant the holder hereof certain additional rights, the Exercise Price and the number of shares of Common Stock obtainable upon exercise of this Warrant shall be subject to adjustment from time to time as provided in this Section 2.
