Common use of Adjustment Procedures Clause in Contracts

Adjustment Procedures. Subject to Section 4.16(c) below, if an adjustment of the Per Share Purchase Price is required pursuant to Section 4.16(a), then the Company shall deliver to each Purchaser, within ten (10) Trading Day following the consummation of the transaction giving rise to the adjustment (as may be adjusted pursuant to Section 4.16(c) below, “Delivery Date”): (i) such number of Additional Shares equal to (1) the aggregate Subscription Amount paid by such Purchaser divided by the adjusted Per Share Purchase Price as required under Section 4.16(a), minus (2) the total number of Shares previously delivered to such Purchaser under this Agreement, provided that the Company shall effect such adjustment in cash to the extent required by Section 4.16(c); (ii) an additional A Warrant registered in the name of such Purchaser to purchase up to a number of shares of Common Stock equal to 30% of such number of Additional Shares, provided that the exercise price therein shall be equal to 137.5% of such Subsequent Issuance Selling Price; and (iii) an additional B Warrant registered in the name of such Purchaser to purchase up to a number of shares of Common Stock equal to 30% of such number of Additional Shares, provided that the exercise price therein shall be equal to 162.5% of such Subsequent Issuance Selling Price. In the event the Company fails to deliver to any Purchaser such Additional Shares or Additional Warrants (or cash, if applicable) by the Delivery Date, in addition to such Purchaser’s other available remedies, the Company shall pay to such Purchaser, in cash, as partial liquidated damages and not as a penalty, an amount equal to 2% of such Purchaser’s Adjustment Amount per month, payable in cash, where the “Adjustment Amount” equals the difference between the most recent Per Share Purchase Price and such Subsequent Issuance Selling Price multiplied by the number of Shares previously issued to such Purchaser.