EXPIRATION OF OPTIONS; RETIREMENT OF CONVERTIBLE SECURITIES Sample Clauses

EXPIRATION OF OPTIONS; RETIREMENT OF CONVERTIBLE SECURITIES. Upon the expiration or lapse of options or rights described in subparagraph (c) above in any case where the issuance or grant thereof had previously been the basis for an adjustment of the Warrant Number and the Base Price, the Warrant Number and the Base Price then in effect shall forthwith be readjusted to the Warrant Number and the Base Price which would have been in effect if the adjustments made upon the original issuance or grant of such options or rights had excluded from the calculation of Common Stock issued and outstanding (or deemed issued) immediately after such issuance or grant, all Common Stock which the holders of such expired or lapsed options or rights had been entitled to acquire thereunder, and had excluded from the calculation of consideration deemed to have been received by the Company, the consideration deemed by the terms of sub- paragraph (c) to have been received for such expired or lapsed options or warrants. Upon the retirement without conversion or exchange of obligations described in subparagraph (d) above in any case where the issuance thereof had previously been the basis for an adjustment of the Warrant Number and the Base Price, the Warrant Number and the Base Price then in effect shall forthwith be readjusted to the Warrant Number and the Base Price which would have been in effect if the adjustments made upon the original issuance of such obligations had excluded from the calculation of Common Stock issued and outstanding (or deemed issued) immediately after such issuance, all Common Stock which the holders of such retired obligations had been entitled to acquire thereunder, and had excluded from the calculation of consideration deemed to have been received by the Company, all consideration deemed, by the terms of subparagraph (d), to have been received for such retired obligations.