Reset of Exercise Price. If, on the date that is ninety (90) calendar days immediately following the Issuance Date of this Warrant, the Reset Price, as defined below, is less than the Exercise Price at such time, the Exercise Price shall be decreased to the Reset Price. “Reset Price” shall mean the greater of (i) 50% of the Initial Exercise Price (as adjusted for share splits, share dividends, recapitalizations and similar events pursuant to Section 3(a) hereof) and (ii) 100% of the lowest VWAP occurring on any day between the Initial Exercise Date and ninety (90) calendar days following the Issuance Date; provided that the Reset Price shall in no event be less than a floor price of 50% of the Initial Exercise Price.
Reset of Exercise Price. If, on the date that is 90 calendar days immediately following the initial issuance date of this Warrant (the “Issuance Date”), the Reset Price, as defined below, is less than the Exercise Price at such time, the Exercise Price shall be decreased to the Reset Price. “Reset Price” shall mean the greater of (i) 50% of the Exercise Price and (ii) 100% of the last VWAP immediately preceding the 90th calendar day following the Issuance Date.
Reset of Exercise Price. If, on the seven-month anniversary of the Issuance Date, the Reset Price, as defined below, is less than the Exercise Price at such time, the Exercise Price shall be decreased to the Reset Price. “Reset Price” shall mean the greater of $1.00 and 120% of the last VWAP immediately preceding the seven-month anniversary of the Issuance Date.
Reset of Exercise Price. If, on the date that is 30 calendar days immediately following the initial issuance date of this Warrant (the issuance date of this Warrant, the “Issuance Date” and the date that is 30 calendar days following the Issuance Date, the “Reset Date”), the Reset Price, as defined below, is less than the Exercise Price at such time, the Exercise Price shall be decreased to the Reset Price; provided, however, that if at the Reset Date, the Reset Price is greater than or equal to the Exercise Price, then there shall be no adjustment to the Exercise Price on the Reset Date. “Reset Price” shall mean 100% of the trailing five day VWAP immediately preceding the Reset Date, provided, that in no event shall the Reset Price be less than 20% of the most recent closing price at the time of execution of the Purchase Agreement (subject to adjustment for reverse and forward stock splits, recapitalizations and similar transactions following the date of the Purchase Agreement).
Reset of Exercise Price. If, on any Price Reset Evaluation Date, as defined below, the Reset Price, as defined below, is less than the Exercise Price at such time, the Exercise Price shall be decreased to the Reset Price. “Reset Price” shall mean the greater of (i) 50% of the Exercise Price and (ii) 100% of the lowest daily VWAP that occurred during the ninety (90) calendar days following the Issuance Date. The Reset Price will be evaluated on seven dates (each a “Price Reset Evaluation Date”), with the first Price Reset Evaluation Date being the date that is 90 days after the Issuance Date and each subsequent Price Reset Evaluation Date being the date that is 90 days after the preceding Price Reset Evaluation Date; provided, however, for the avoidance of doubt, the seventh and final Price Reset Evaluation Date will be approximately 24 months after the Issuance Date.
Reset of Exercise Price. If, on the date that is 30 calendar days immediately following the initial issuance date of this Warrant (the issuance date of this Warrant, the “Issuance Date” and the date that is 30 calendar days following the Issuance Date, the “Initial Reset Date”), the Reset Price, as defined below, is less than the Exercise Price at such time, the Exercise Price shall be decreased to the Reset Price; provided, however, that if at the Initial Reset Date, the Reset Price is greater than or equal to the Exercise Price, then there shall be no adjustment to the Exercise Price on the Initial Reset Date, provided, that if, on the date that is 75 calendar days following the Issuance Date, the Reset Price is less than the Exercise Price at such time, the Exercise Price shall be decreased to the Reset Price. “Reset Price” shall mean 100% of the trailing ten day VWAP immediately preceding the Initial Reset Date or the Second Reset Date, as the case may be, provided that in no event shall the Reset Price be less than $0.09 (subject to adjustment for reverse and forward stock splits, recapitalizations and similar transactions following the date of the Underwriting Agreement).
Reset of Exercise Price. Specific to each of the Notes, the third sentence of Section 3 “Renewal.”, item “(c)” of each Note, is hereby amended as follows: “The Exercise Price of each such issuance of Warrants shall be the same as per Section 8, “Equity Bonus of Common Stock Purchase Warrant”, wherein said Exercise Price is hereby changed to $0.025 per share.
Reset of Exercise Price. 2 SECTION 3.
Reset of Exercise Price. On December 1, 1996 (the "Reset Date"), the Exercise Price will be adjusted (the "Reset") to equal (x) the product of (i) the average of the high and low prices on the Nasdaq National Market or the consolidated transaction reporting tape in the event that the Common Shares are not then traded on the Nasdaq National Market, and (ii) the number of Common Shares reported as being traded on that day for each trading day of the 30 calendar days preceding the Reset Date (the "Reset Period") divided by the total number of Common Shares traded over the Reset Period multiplied by (y) 110% (the "Reset Price"), if such Reset Price shall be lower than the Exercise Price before such calculation. In the event that the Exercise Price before such calculation shall be equal to or less than the Reset Price calculated in accordance with this Section 2A, then no adjustment to the Exercise Price shall be made pursuant to this Section 2A. The Exercise Price as of the date hereof and as adjusted to the Reset Price are subject to the further adjustments of Section 15. In no event shall the effect of this Section 2A be to increase the number of Common Shares issuable upon exercise of the Warrants.
Reset of Exercise Price. In the event that the average of the closing bid prices of the Common Stock for the ten (10) consecutive trading days ending on the trading day immediately preceding January 6, 2000 (the "FIRST RESET PRICE") is less than the Exercise Price then in effect, the Exercise Price shall, beginning on January 6, 2000, equal the First Reset Price. In the event that the average of the closing bid prices of the Common Stock for the ten (10) consecutive trading days ending on the trading day immediately preceding January 6, 2001 (the "SECOND RESET PRICE") is less than the Exercise Price then in effect, the Exercise Price shall, beginning on January 6, 2001, equal the Second Reset Price. In the event that the average of the closing bid prices of the Common Stock for the ten (10) consecutive trading days ending on the trading day immediately preceding January 6, 2002 (the "THIRD RESET PRICE") is less than the Exercise Price then in effect, the Exercise Price shall, beginning on January 6, 2002, equal the Third Reset Price. Each of the ten (10) consecutive trading day periods immediately preceding January 6, 2000, January 6, 2001 and January 6, 2002 is hereinafter referred to as a "PRICING PERIOD" and each of January 6, 2000, January 6, 2001 and January 6, 2002 is hereinafter referred to as a "RESET DATE". In the event that, during any Pricing Period, the Registration Statement (as defined in the Registration Rights Agreement referred to in Section 8(a) hereof) has not been declared effective by the SEC or such Registration Statement, after having been declared effective, lapses in effect or sales of all of the Registrable Securities (as defined in the Registration Rights Agreement) otherwise cannot be made thereunder, whether by reason of the Company's failure or inability to amend or supplement the prospectus included therein or otherwise (including during an Allowed Delay (as defined in the Registration Rights Agreement)), then the applicable Pricing Period shall begin on the tenth (10th) trading day preceding January 6, 2000, January 6, 2001 or January 6, 2002, as the case may be, and end on the third (3rd) trading day after the date the Registration Statement is declared effective, such effectiveness resumes or sales of all of the Registrable Securities (as defined in the Registration Rights Agreement) may resume being made thereunder, with the applicable Reset Price being the lowest average closing bid price for any ten (10) consecutive trading days during the appl...
