Common use of Adjustment of Price Upon Issuance of Common Stock Clause in Contracts

Adjustment of Price Upon Issuance of Common Stock. Except with respect to the issuance of shares of Class A Common Stock that constitute a Permitted Stock Transaction under Subsection 5.7 of the 1994 Purchase Agreement, if and whenever the Company shall issue or sell any shares of its Common Stock (as defined in paragraph (n) of this Section 3) for a consideration per share less than the Warrant Price in effect immediately prior to the time of such issue or sale, then, forthwith upon such issue or sale, the Warrant Price shall be reduced to the price (calculated to the nearest $.001) determined by dividing (a) an amount equal to the sum of: (x) the number of shares of Common Stock outstanding immediately prior to such issue or sale (including as outstanding all shares of Class A Common Stock issuable upon exercise of this Warrant immediately prior to such issue or sale) multiplied by the then existing Warrant Price; and (y) the consideration, if any, received by the Company upon such issue or sale, by (b) the total number of shares of Common Stock outstanding immediately after such issue or sale (including as outstanding all shares of Class A Common Stock issuable upon exercise of this Warrant immediately prior to such issue or sale). No adjustments of the Warrant Price, however, shall be made in an amount less than $.001 per share, 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 $.001 per share or more. For purposes of this Section 3, the following paragraphs (a) to (n), inclusive, shall also be applicable:

Adjustment of Price Upon Issuance of Common Stock. Except with respect to the issuance of shares of Class A Common Stock that constitute a Permitted Stock Transaction under Subsection 5.7 of the 1994 Purchase Agreement, if and whenever the Company shall issue or sell any shares of its Common Stock (as defined in paragraph (n) of this Section 3) for a consideration per share less than the Warrant Price in effect immediately prior to the time of such issue or sale, then, forthwith upon such issue or sale, the Warrant Price shall be reduced to the price (calculated to the nearest $.001) determined by dividing (a) an amount equal to the sum of: (x) the number of shares of Common Stock outstanding immediately prior to such issue or sale (including as outstanding all shares of Class A Common Stock issuable upon exercise of this Warrant immediately prior to such issue or sale) multiplied by the then existing Warrant Price; and (y) the consideration, if any, received by the Company upon such issue or sale, by (b) the total number of shares of Common Stock outstanding immediately after such issue or sale (including as outstanding all shares of Class A Common Stock issuable upon exercise of this Warrant immediately prior to such issue or sale). No adjustments of the Warrant Price, however, shall be made in an amount less than $.001 per share, 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 $.001 per share or more. For purposes of this Section 3, the following paragraphs (a) to (n), inclusive, shall also be applicable:.