Common use of Current Warrant Price Clause in Contracts

Current Warrant Price. Unless the Company shall have redeemed or converted all of the outstanding Notes, subject to adjustment as set forth in other provisions of this Section 4, the Current Warrant Price shall be decreased by $1.00 on the last Business Day of each month, commencing July 31, 1999 through and including December 31, 1999; provided, that the Current Warrant Price shall never be less than the par value per share of Common Stock; and provided, further, that at any time prior to the Stockholder Approval Date, the Initial Warrant Price shall in no event be less than the price at which the maximum number of shares of Common Stock issued or issuable upon conversion of the Preferred Stock, together with shares of Common Stock issued or issuable upon exercise of the Warrants, would exceed the greater of (a) 711,241 shares of Common Stock (19.9% of the outstanding shares of Common Stock of the Company) and (b) 19.9% of the outstanding shares of Common Stock of the Company.