Common use of Adjustment of Exercise Price upon Issuance of Common Stock Clause in Contracts

Adjustment of Exercise Price upon Issuance of Common Stock. 3.2.1 (A) If and whenever after the date hereof the Company shall issue or sell any Common Stock for no consideration or for a consideration per share less than the Exercise Price, then, forthwith upon such issue or sale, the Exercise Price shall be reduced (but not increased, except as otherwise specifically provided in Section hereof), to the price (calculated to the nearest one-ten thousandth of a cent) determined by dividing (x) an amount equal to the sum of (i) the aggregate number of shares of Common Stock outstanding immediately prior to such issue or sale multiplied by then existing Exercise Price plus (ii) the consideration received by the Company upon such issue or sale by (y) the aggregate number of shares of Common Stock outstanding immediately after such issue or sale. Notwithstanding the foregoing and in lieu thereof, in the event the Company issues additional shares pursuant to Section of that certain Registration Rights Agreement of even date herewith among the Company, the Holder and certain other persons named on Exhibit A thereto, then the Exercise Price shall be reduced to the price determined by dividing the then existing Exercise Price by one and one-half (1.5).

Adjustment of Exercise Price upon Issuance of Common Stock. 3.2.1 (A) If and whenever after the date hereof the Company shall issue or sell any Common Stock for no consideration or for a consideration per share less than the Exercise Price, then, forthwith upon such issue or sale, the Exercise Price shall be reduced (but not increased, except as otherwise specifically provided in Section 3.2.2(C) hereof), to the price (calculated to the nearest one-ten thousandth of a cent) determined by dividing (x) an amount equal to the sum of (i) the aggregate number of shares of Common Stock outstanding immediately prior to such issue or sale multiplied by then existing Exercise Price plus (ii) the consideration received by the Company upon such issue or sale by (y) the aggregate number of shares of Common Stock outstanding immediately after such issue or sale. Notwithstanding the foregoing and in lieu thereof, in the event the Company issues additional shares pursuant to Section 2.2 of that certain Registration Rights Agreement of even date herewith among the Company, the Holder Sandxxx Xxxrxx Xxxxx Xxx. and certain other persons named on Exhibit A thereto, then the Exercise Price shall be reduced to the price determined by dividing the then existing Exercise Price by one and one-half (1.5).

Adjustment of Exercise Price upon Issuance of Common Stock. 3.2.1 (A) If and whenever after the date hereof the Company shall issue or sell any Common Stock for no consideration or for a consideration per share less than the Exercise Price, then, forthwith upon such issue or sale, the Exercise Price shall be reduced (but not increased, except as otherwise specifically provided in Section hereof), to the price (calculated to the nearest one-ten thousandth of a cent) determined by dividing (x) an amount equal to the sum of (i) the aggregate number of shares of Common Stock outstanding immediately prior to such issue or sale multiplied by then existing Exercise Price plus (ii) the consideration received by the Company upon such issue or sale by (y) the aggregate number of shares of Common Stock outstanding immediately after such issue or sale. Notwithstanding the foregoing and in lieu thereof, in the event the Company issues additional shares pursuant to Section of that certain Registration Rights Agreement of even date herewith among the Company, the Holder Sanders Morris Mundy Inc. and certain other persons named on Exhibit A theretoxxxxxxo, then the Exercise xxxx xxx Xxercise Price shall be reduced to the price determined by dividing the then existing Exercise Price by one and one-half (1.5).

Adjustment of Exercise Price upon Issuance of Common Stock. 3.2.1 (A) If and whenever after the date hereof the Company shall issue or sell any Common Stock for no consideration or for a consideration per share less than the Exercise Price, then, forthwith upon such issue or sale, the Exercise Price shall be reduced (but not increased, except as otherwise specifically provided in Section hereof), to the price (calculated to the nearest one-ten thousandth of a cent) determined by dividing (x) an amount equal to the sum of (i) the aggregate number of shares of Common Stock outstanding immediately prior to such issue or sale multiplied by then existing Exercise Price plus (ii) the consideration received by the Company upon such issue or sale by (y) the aggregate number of shares of Common Stock outstanding immediately after such issue or sale. Notwithstanding the foregoing and in lieu thereof, in the event the Company issues additional shares pursuant to Section of that certain Registration Rights Agreement of even date herewith among the Company, the Holder Sanders Morris Mundy, Inc. and certain other persons named on Exhibit A theretoX xxxxxtx, then the xxxx xxx Exercise Price shall be reduced to the price determined by dividing the then existing Exercise Price by one and one-half (1.5).

Adjustment of Exercise Price upon Issuance of Common Stock. 3.2.1 (A) If and whenever after the date hereof the Company shall issue or sell any Common Stock for no consideration or for a consideration per share less than the Exercise Price, then, forthwith upon such issue or sale, the Exercise Price shall be reduced (but not increased, except as otherwise specifically provided in Section 3.2.2(C) hereof), to the price (calculated to the nearest one-ten thousandth of a cent) determined by dividing (x) an amount equal to the sum of (i) the aggregate number of shares of Common Stock outstanding immediately prior to such issue or sale multiplied by then existing Exercise Price plus (ii) the consideration received by the Company upon such issue or sale by (y) the aggregate number of shares of Common Stock outstanding immediately after such issue or sale. Notwithstanding the foregoing and in lieu thereof, in the event the Company issues additional shares pursuant to Section 2.2 of that certain Registration Rights Agreement of even date herewith among the Company, the Holder Sandxxx Xxxrxx Xxxxx, Xxc. and certain other persons named on Exhibit A thereto, then the Exercise Price shall be reduced to the price determined by dividing the then existing Exercise Price by one and one-half (1.5).