Common use of Adjustment Procedure Clause in Contracts

Adjustment Procedure. Upon each Actual Issuance of Common Stock or Deemed Issuance of Common Stock ("Issuance of Common Stock") after May 1, 1999, for no consideration or for a consideration per share less than the Warrant Price (a "Dilutive Issuance"), then, concurrent with the closing of the Dilutive Issuance, the number of Shares issuable upon the exercise of this Warrant shall be increased by the number of shares of Common Stock determined under the following formula: X= (BxA)-(BxC) ----------- C Where: X= The increase in the number of Shares acquirable hereunder B= The Shares acquirable hereunder immediately prior to the Issuance of Common Stock A= The Warrant Price in effect immediately prior to the Issuance of Common Stock For purposes hereof, the Adjusted Share Value, upon the closing of any Issuance of Common Stock, shall be the amount equal to the sum of(i) the amount obtained by multiplying the Common Stock Outstanding immediately prior to the Issuance of Common Stock by the Warrant Price in effect immediately prior to the Issuance of Common Stock, and (ii) the Aggregate Consideration that the Company receives from the Issuance of Common Stock, and dividing the resulting sum by the Common Stock Outstanding immediately after the Issuance of Common Stock. Upon each Issuance of Common Stock described in this subsection (d), the Warrant Price shall be adjusted to the Adjusted Share Value resulting from such Issuance of Common Stock.

Adjustment Procedure. Upon each Actual Issuance of Common Stock or Deemed Issuance of Common Stock ("Issuance of Common Stock") after May 1, 1999, for no consideration or for a consideration per share less than the Warrant Price (a "Dilutive Issuance"), then, concurrent with the closing of the Dilutive Issuance, the number of Shares issuable upon the exercise of this Warrant shall be increased by the number of shares of Common Stock determined under the following formula: X= (BxA)-(BxCB x A)-(B x C) ----------- --------------- C Where: X= The increase in the number of Shares acquirable hereunder B= The Shares acquirable hereunder immediately prior to the Issuance of Common Stock A= The Warrant Price in effect immediately prior to the Issuance of Common Stock C= The Adjusted Share Value For purposes hereof, the Adjusted Share Value, upon the closing of any Issuance of Common Stock, shall be the amount equal to the sum of(iof (i) the amount obtained by multiplying the Common Stock Outstanding immediately prior to the Issuance of Common Stock by the Warrant Price in effect immediately prior to the Issuance of Common Stock, and (ii) the Aggregate Consideration that the Company receives from the Issuance of Common Stock, and dividing the resulting sum by the Common Stock Outstanding immediately after the Issuance of Common Stock. Upon each Issuance of Common Stock described in this subsection (d), the Warrant Price shall be adjusted to the Adjusted Share Value resulting from such Issuance of Common Stock.

Adjustment Procedure. Upon each Actual Issuance of Common Stock or Deemed Issuance of Common Stock ("Issuance of Common Stock") after May 1, 1999, for no consideration or for a consideration per share less than the Warrant Price (a "Dilutive Issuance"), then, concurrent with the closing of the Dilutive Issuance, the number of Shares issuable upon the exercise of this Warrant shall be increased by the number of shares shaRes of Common Stock determined under the following formula: X= (BxA)-(BxC) ----------- C Where: X= The increase in the number of Shares acquirable hereunder B= The Shares acquirable hereunder immediately prior to the Issuance of Common Stock A= The Warrant Price in effect immediately prior to the Issuance of Common Stock C= The Adjusted Share Value For purposes hereof, the Adjusted Share Value, upon the closing of any Issuance of Common Stock, shall be the amount equal to the sum of(iof (i) the amount obtained by multiplying the Common Stock Outstanding immediately prior to the Issuance of Common Stock by the Warrant Price in effect immediately prior to the Issuance of Common Stock, and (ii) the Aggregate Consideration that the Company receives from the Issuance of Common Stock, and dividing the resulting sum by the Common Stock Outstanding immediately after the Issuance of Common Stock. Upon each Issuance of Common Stock described in this subsection (d), the Warrant Price shall be adjusted to the Adjusted Share Value resulting from such Issuance of Common Stock.