Common use of Adjustment of Exercise Price Upon Issuance of Additional Shares of Common Stock Clause in Contracts

Adjustment of Exercise Price Upon Issuance of Additional Shares of Common Stock. In the event the Company at any time after the Original Issue Date while this Warrant remains outstanding and unexpired in whole or in part shall issue Additional Shares of Common Stock (including Additional Shares of Common Stock deemed to be issued pursuant to Section 2(f)(iii)) without consideration or for consideration per share less than the Exercise Price in effect on the date of and immediately prior to such issue, then the Exercise Price shall be reduced, concurrently with such issue, to the lowest price per share for which any Additional Share of Common Stock has been issued; provided, that if the Additional Shares of Common Stock are issued without consideration, the Exercise Price shall be reduced to $0.001.

Appears in 2 contracts

Sources: Warrant Agreement (Panda Ethanol, Inc.), Warrant Agreement (Panda Ethanol, Inc.)

Adjustment of Exercise Price Upon Issuance of Additional Shares of Common Stock. In the event the Company shall at any time after the Original Issue Date while this Warrant remains outstanding and unexpired in whole or in part shall issue Additional Shares of Common Stock (including Additional Shares of Common Stock deemed to be issued pursuant to Section 2(f)(iii5.1(c)) ), without consideration or for a consideration per share less than the Exercise Price in effect on the date of and immediately prior to such issue, then the Exercise Price shall be reduced, concurrently with such issue, to the lowest price consideration per share received (or the amount contractually obligated to be received) by the Company for which any such issue or deemed issue of Additional Share Shares of Common Stock has been issuedStock; provided, that if such issuance or deemed issuance was without consideration, then the Company shall be deemed to have received an aggregate of $0.001 of consideration for all such Additional Shares of Common Stock are issued without consideration, the Exercise Price shall or deemed to be reduced to $0.001issued.

Appears in 2 contracts

Sources: Warrant Agreement (VerifyMe, Inc.), Warrant Agreement (VerifyMe, Inc.)