Exercise Price Adjustments. The Exercise Price and the number of shares purchasable upon exercise of this Warrant shall be subject to adjustment as follows: (i) Common Stock Issued at Less than the Exercise Price. If the Company shall issue any Common Stock other than Excluded Stock (as hereinafter defined) without consideration or for a consideration per share less than the Exercise Price in effect immediately prior to such issuance, the Exercise Price in effect immediately prior to each such issuance shall immediately (except as provided below) be reduced to the price equal to the consideration per share at which such Common Stock was sold or, if such Common Stock was issued for no consideration, to $.01 per share. In such event the number of Exercise Shares in effect immediately prior to such issuance shall immediately be proportionally increased by multiplying the number of Exercise Shares by a fraction the numerator of which is the Exercise Price in effect immediately prior to such issuance and the denominator of which is the Exercise Price in effect immediately after such issuance. The consideration per share shall be computed by dividing the aggregate consideration received by the Company from the issuance of such Common Stock by the total number of shares of Common Stock issued. For purposes of any adjustment of the Exercise Price and the number of Exercise Share pursuant to this clause (i) and (ii), the following provisions shall be applicable:
Appears in 3 contracts
Sources: Securities Purchase Agreement (Holiday Rv Superstores Inc), Securities Purchase Agreement (Holiday Rv Superstores Inc), Securities Purchase Agreement (Holiday Rv Superstores Inc)