Common use of Computation of Adjusted Exercise Price Clause in Contracts

Computation of Adjusted Exercise Price. Commencing on the Issue Date and continuing until this Warrant is either exercised in full or expires, in case the Company shall at any time after the date hereof issue or sell any (a) shares of Common Stock or preferred shares convertible into Common Stock, or (b) debt, warrants, options or other instruments or securities which are convertible into or exercisable for shares of Common Stock (together herein referred to as “Equity Securities”), in each case for consideration (or with a conversion price) per common share less than the Exercise Price in effect immediately prior to the issuance or sale of such securities or instruments, or without consideration, then forthwith upon such issuance or sale, the Exercise Price shall (until another such issuance or sale) be automatically reduced to the price (calculated to the nearest full cent) equal to the price (or conversion price) of any such securities or instruments. For the purposes of this Section 5.4, the term Exercise Price shall mean the Exercise Price per share set forth in Section 1 hereof, as adjusted from time to time pursuant to the provisions of this Section. Promptly upon the occurrence of such an event, and in any event not less than ten (10) business days after such an occurrence, the Company shall notify the Holder in writing of the event, disclose to the Holder the new Exercise Price, and provide to the Holder copies of all relevant documents related to such event, even if the event was or should be disclosed publicly.

Computation of Adjusted Exercise Price. Commencing on the Issue Date and continuing until this Warrant is either exercised in full or expires, in case the Company shall at any time after the date hereof issue or sell sell, other than in connection with any Excepted Issuances (as such term is defined in the Note) any (ai) shares of Common Stock or preferred shares convertible into Common Stock, or (bii) debt, warrants, options or other instruments or securities which are convertible into or exercisable for shares of Common Stock (together herein referred to as “Equity Securities”), in each case for consideration (or with a conversion price) per common share less than the Exercise Price in effect immediately prior to the issuance or sale of such securities or instruments, or without consideration, then forthwith upon such issuance or sale, the Exercise Price shall (until another such issuance or sale) be automatically reduced to the price (calculated to the nearest full cent) equal to the price (or conversion price) of any such securities or instruments; provided, however, that in no event shall the Exercise Price be adjusted pursuant to this computation to an amount in excess of the Exercise Price in effect immediately prior to such computation. For the purposes of this Section 5.46.4, the term Exercise Price shall mean the Exercise Price per share set forth in Section 1 hereof, as adjusted from time to time pursuant to the provisions of this Section. Promptly upon the occurrence of such an event, and in any event not less than ten (10) business days after such an occurrence, the Company shall notify the Holder in writing of the event, disclose to the Holder the new Exercise Price, and provide to the Holder copies of all relevant documents related to such event, even if the event was or should be disclosed publicly.