Adjustment in Underlying Preferred Stock Price and Exercise Price. If ----------------------------------------------------------------- on or before August 31, 1998, the Company sells and issues to any investors, preferred stock with aggregate gross proceeds to the Company of at least $2,500,000, this Warrant shall concurrent with the issuance of such shares of preferred stock automatically be adjusted to instead be exercisable for shares of the same series and class and bearing the same rights, preferences, and privileges, of such shares of stock, with the Warrant Price hereunder adjusted to equal the per share purchase price of such stock and the number of such shares subject to this Warrant adjusted to equal (i) thirty-seven thousand five hundred dollars ($37,500), divided by (ii) such modified per share Warrant Price.
Adjustment in Underlying Preferred Stock Price and Exercise Price. Company agrees that if it issues any series of preferred stock for an issuance price less than $3.279 per share, the Company shall issue to Holder an additional Warrant for 105,711 shares of Series B Preferred Stock at an Exercise Price of $0.00 per Warrant Share.
Adjustment in Underlying Preferred Stock Price and Exercise Price. The number of Shares subject to this Warrant shall equal (A) the Coverage Amount (as may be adjusted from time to time pursuant to this Warrant), divided by (B) the Warrant Price (as may be adjusted from time to time pursuant to this Warrant). If a Qualified Financing (as defined below) occurs, this Warrant shall, concurrent with the first issuance of shares of preferred convertible stock in such Qualified Financing, automatically be adjusted to instead be exercisable for shares of the same series and class and bearing the same rights, preferences, and privileges as the preferred convertible stock issued in such Qualified Financing. As used herein, the following terms have the meanings given below:
Adjustment in Underlying Preferred Stock Price and Exercise Price. If on or before 9/30/98, the Company sells and issues to any investors, preferred stock with aggregate gross proceeds to the Company of at least $4,000,000, this Warrant shall concurrent with the issuance of such shares of preferred stock automatically be adjusted to instead be exercisable for shares of the same series and class and bearing the same rights, preferences, and privileges, of such shares of stock, with the Warrant Price hereunder adjusted to equal the per share purchase price of such stock and the number of such shares subject to this Warrant adjusted to equal (i) Thirty Thousand Dollars ($30,000), divided by (ii) such modified per share Warrant Price. If said round of equity does not close prior to 9/30/98, this Warrant shall concurrent with the issuance of such shares of preferred stock automatically be adjusted to instead be exercisable for shares of the same series and class and bearing the same rights, preferences, and privileges, of such shares of stock, with the Warrant Price hereunder adjusted to equal the per share purchase price of such stock, and the number of such shares subject to this Warrant adjusted to equal (i) Sixty Thousand Dollars ($60,000), divided by (ii) such modified per share Warrant Price.
Adjustment in Underlying Preferred Stock Price and Exercise Price. If on or before August 8, 2008, the Company sells and issues to any investors preferred stock with aggregate gross proceeds to the Company of at least $1,400,000, this Warrant shall, concurrent with the issuance of such shares of preferred stock, automatically be adjusted to instead be exercisable for shares of the same series and class and bearing the same rights, preferences, and privileges of such shares of stock, with the Warrant Price hereunder adjusted to equal the per share purchase price of such stock, and the number of such shares subject to this Warrant adjusted to equal (i) Seventeen Thousand Dollars ($17,000), divided by (ii) such modified per share Warrant Price. Any adjustments made to the Warrant pursuant to this Section 1.8 shall be in addition to any adjustments made pursuant to Article 2, below.
Adjustment in Underlying Preferred Stock Price and Exercise Price. If the Company sells and issues to investors its Series D Preferred Stock in a bona fide equity financing after the date of this Warrant and the per share price of the Series D Preferred Stock is less than that of the company’s Series C Preferred Stock, this Warrant shall, concurrent with the issuance of such shares of Series D Preferred Stock, automatically be adjusted to instead be exercisable for such Series D Preferred Stock, with the Warrant Price hereunder adjusted to equal the per share purchase price of such Series D Preferred Stock, and the number of such shares subject to this Warrant adjusted to equal (a) $175,000 divided by (b) such modified per share Warrant Price.
Adjustment in Underlying Preferred Stock Price and Exercise Price. If the company sells and issues to investors preferred stock in the Next Equity Financing (as defined below). at Bank's sole option, this Warrant may, concurrent with the closing of the Next Equity Financing, be adjusted to instead be exercisable for shares of the same series and class and bearing the same rights, preferences, and privileges of such shares of stock, with the Warrant Price hereunder adjusted to equal the per share purchase price of such stock issued in the Next Equity Financing and the number of such shares subject to this Warrant adjusted to equal One Hundred Five Thousand Dollars ($105,000) divided by such modified per share Warrant Price. For purposes of this Warrant, "Next Equity Financing" means the next bona fide sale (or series of related sales) to investors by the Company of its preferred stock following the Issue Date resulting in aggregate cash proceeds to the Company of not less than $1,000,000.
Adjustment in Underlying Preferred Stock Price and Exercise Price. If on or before July 15,2001, the Company sells and issues to any investors preferred stock with aggregate gross proceeds to the Company of at least 510,000,000, this warrant shall, concurrent with the issuance of such shares of preferred stock, automatically be adjusted to instead be exercisable for shares of the same series and class and bearing the same rights, preferences, and privileges of such shares of stock, with the Warrant Price equal to the per share sale price of the series of preferred stock so sold (the “Revised Warrant Price”) and the number of such shares subject to this warrant equal to $43,750 divided by the Revised Warrant Price.
Adjustment in Underlying Preferred Stock Price and Exercise Price. If Holder, in its sole discretion, grants the Company a Covenant Holiday (as defined in that certain Loan and Security Agreement dated as of the Issue Date between the Company and Holder, as amended), the Number of Shares subject to this warrant shall, as of the date on which such Covenant Holiday is granted, automatically be adjusted to equal to 87,591.
Adjustment in Underlying Preferred Stock Price and Exercise Price. If on or before February 28, 2003 the Company sells and issues to any investors preferred stock with aggregate gross proceeds to the Company of at least $5,000,000, this warrant shall, concurrent with the issuance of such shares of preferred stock, automatically be adjusted to instead be exercisable for shares of the same series and class and number and bearing the same rights, preferences, and privileges of such shares of stock, with the warrant Price hereunder adjusted to equal the lesser of (a) the per share purchase price of such stock or (b) the Initial Exercise Price per share as set forth above, and the number of such shares subject to this warrant adjusted to equal the greater of (x) the Number of Shares set forth above, or (y) Fifty Eight Thousand Eight Hundred Dollars ($58,800) divided by (a) above.
