Calculation and Adjustment of Exercise Quantity Sample Clauses

Calculation and Adjustment of Exercise Quantity. The Company acknowledges that the initial Exercise Quantity was calculated based upon an intention that the full exercise of the Warrant would result in the Holder obtaining shares of Common Stock constituting 6.2893% (the "Applicable Percentage") of the Company's Common Stock and options, warrants (including the Warrants), convertible securities, securities and other rights (in each case whether now existing or hereafter issued or arising) to acquire from the Company shares of Common Stock ("Common Stock Equivalents") outstanding as of the date of exercise of the Warrant (based on Five Million Two Hundred Fifteen Thousand (5,215,000) shares of Common Stock issued or reserved for issuance upon conversion of outstanding Common Stock Equivalents as of the date hereof). It is the intent of the parties hereto that after giving effect to the exercise in full of the Warrants, the Holder's share ownership of the Common Stock will be equal to the Applicable Percentage. The Exercise Quantity shall be adjusted upon each additional issuance of shares of Common Stock or Common Stock Equivalents in order to maintain the Applicable Percentage. Notwithstanding the foregoing, neither the Exercise Quantity nor the Exercise Price shall be adjusted pursuant to this Section 7(a) as a consequence of (i) an issuance of Common Stock or Common Stock Equivalents at an issuance price per share greater than or equal to the then current Exercise Price, (ii) a grant of Common Stock Equivalents at a conversion or exercise price per share greater than or equal to the then current Exercise Price, (iii) an issuance of shares in connection with the Company's underwritten initial public offering of its Common Stock, or any issuances of Common Stock or Common Stock Equivalents subsequent to such offering, or (iv) the issuance or exercise of a warrant to purchase 50,000 shares of Common Stock pursuant to any license agreement involving the Company and Cumberland relating to a sports drink product.
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Related to Calculation and Adjustment of Exercise Quantity

  • Minimum Adjustment of Exercise Price No adjustment of the Exercise Price shall be made in an amount of less than 1% of the Exercise Price in effect at the time such adjustment is otherwise required to be made, but any such lesser adjustment shall be carried forward and shall be made at the time and together with the next subsequent adjustment which, together with any adjustments so carried forward, shall amount to not less than 1% of such Exercise Price.

  • Adjustment of Exercise Price, Number and Kind of Shares or Number of Rights The Exercise Price, the number and kind of shares covered by each Right and the number of Rights outstanding are subject to adjustment from time to time as provided in this Section 11.

  • Adjustment of Exercise Price (a) The Exercise Price and the number of shares deliverable upon the exercise of the Warrants will be subject to adjustment in the event and in the manner following:

  • Adjustment of Warrant Price and Number of Shares Issuable Upon Exercise The Warrant Price and the number of shares of Warrant Stock that may be purchased upon exercise of this Warrant shall be subject to adjustment from time to time as set forth in this Section 4. The Issuer shall give the Holder notice of any event described below which requires an adjustment pursuant to this Section 4 in accordance with the notice provisions set forth in Section 5.

  • Conversion Price and Adjustments to Conversion Price (i) The conversion price in effect on any Conversion Date shall be equal to the lesser of (a) $0.4735 (the “Fixed Conversion Price”) or (b) ninety five percent (95%) of the lowest Volume Weighted Average Price of the Common Stock during the thirty (30) trading days immediately preceding the Conversion Date as quoted by Bloomberg, LP (the “Market Conversion Price”). The Fixed Conversion Price and the Market Conversion Price are collectively referred to as the “Conversion Price.” The Conversion Price may be adjusted pursuant to the other terms of this Debenture.

  • Warrant Price Adjustment Except as otherwise provided herein, whenever the number of shares of Warrant Stock purchasable upon exercise of this Warrant is adjusted, as herein provided, the Warrant Price payable upon the exercise of this Warrant shall be adjusted to that price determined by multiplying the Warrant Price immediately prior to such adjustment by a fraction (i) the numerator of which shall be the number of shares of Warrant Stock purchasable upon exercise of this Warrant immediately prior to such adjustment, and (ii) the denominator of which shall be the number of shares of Warrant Stock purchasable upon exercise of this Warrant immediately thereafter.

  • Exercise Price Adjustment Whenever the number of Warrant Shares purchasable upon the exercise of the Warrant is adjusted, as herein provided, the Exercise Price payable upon the exercise of this Warrant shall be adjusted by multiplying such Exercise Price immediately prior to such adjustment by a fraction, of which the numerator shall be the number of Warrant Shares purchasable upon the exercise of the Warrant immediately prior to such adjustment, and of which the denominator shall be the number of Warrant Shares purchasable immediately thereafter.

  • Adjustment of Warrant Price The price at which such shares of Warrant Stock may be purchased upon exercise of this Warrant shall be subject to adjustment from time to time as set forth in this Section 4. The Issuer shall give the Holder notice of any event described below which requires an adjustment pursuant to this Section 4 in accordance with the notice provisions set forth in Section 5.

  • Adjustment of Exercise Price and Number of Warrant Shares Issuable The Exercise Price and the number and kind of Warrant Shares purchasable upon the exercise of each Warrant shall be subject to adjustment from time to time as follows:

  • Adjustments in Warrant Price 4.3.1 Whenever the number of shares of Common Stock purchasable upon the exercise of the Warrants is adjusted, as provided in subsection 4.1.1 or Section 4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant Price immediately prior to such adjustment by a fraction (x) the numerator of which shall be the number of shares of Common Stock purchasable upon the exercise of the Warrants immediately prior to such adjustment, and (y) the denominator of which shall be the number of shares of Common Stock so purchasable immediately thereafter.

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