Common use of CERTAIN ADJUSTMENTS OF NUMBER OF SHARES PURCHASABLE AND WARRANT PRICE Clause in Contracts

CERTAIN ADJUSTMENTS OF NUMBER OF SHARES PURCHASABLE AND WARRANT PRICE. Section 3.1 is hereby amended as follows: Notwithstanding anything contained in Section 3.1 of the Warrant to the contrary, each and every time that the Company issues or sells shares of its Common Stock or Common Stock Equivalents in a Dilution Sale subject to Section 3.1.4 of the Warrant, the Warrant Price shall be reduced to an amount equal to the price per share of Common Stock or Common Stock Equivalents received by the Company in such Dilution Sale. The price per share of Common Stock or Common Stock Equivalents received in a Dilution Sale shall be calculated by dividing the Total Consideration received in the Dilution Sale by the Total Shares issued in the Dilution Sale.

Appears in 3 contracts

Sources: Common Stock Warrant (Wasatch Education Systems Corp /Ut/), Common Stock Warrant (Wasatch Education Systems Corp /Ut/), Common Stock Warrant (Wasatch Education Systems Corp /Ut/)