Common use of Reverse Stock Split Clause in Contracts

Reverse Stock Split. If at any time this Warrant is outstanding and the Company receives notice from the Nasdaq Listing Qualifications Department that the Company is failing to satisfy the $1.00 minimum bid requirement (the “Trigger Date”), then the Company shall take all necessary steps to obtain the necessary consents and approvals to undertake a reverse stock split after such Trigger Date and shall, prior to the effectiveness of any delisting notice issued by the Nasdaq Capital Market, effect such reverse stock split.

Reverse Stock Split. If at any time this Warrant is outstanding and the Company receives notice from the Nasdaq Listing Qualifications Department that the Company is failing to satisfy the $1.00 minimum bid requirement (the “Trigger Date”), then the Company shall take all necessary steps to obtain the necessary consents and approvals to undertake a reverse stock split after such Trigger Date and shall, prior to the effectiveness of any delisting notice issued by the Nasdaq Capital MarketNasdaq, effect such reverse stock split.