EXERCISE PRICE RESET Sample Clauses

EXERCISE PRICE RESET. In the event that on any anniversary of the date of this Agreement during the term of the Warrants, the average of the closing bid price for the ten (10) Trading Days prior to such anniversary is less than the Exercise Price of the Warrants then in effect, then the Exercise Price of the Warrants shall be reset to 87.5% of the average of the closing bid prices for such ten (10) Trading Day period. In the event that the Common Stock of the Company is no longer publicly traded on any such anniversary date, then in lieu of the ten (10) Trading Day average of the closing bid prices, the Fair Value of the Common Stock shall be used.
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EXERCISE PRICE RESET. The initial exercise price per share of the Common Stock under this Warrant shall be equal to $2.50 per share (the “Initial Exercise Price”), subject to adjustment under Section 3 (the “Exercise Price”); provided, however, that from and after (and including) the effective of any Common Stock Uplisting, then the term “Initial Exercise Price” in the foregoing clause shall be read as (for all purposes under this Warrant): one hundred twenty-five percent (125%) of the Common Stock Uplisting Price. For purposes of the foregoing, “Common Stock Uplisting Price means the one-day volume weighted average price of the Common Stock on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New York City time)) to 4:02 pm on the first Trading Day on or after effective date of such Common Stock Uplisting. If on the date that is 90 calendar days immediately following the Original Issue Date, the Reset Price (as hereinafter defined) is less than the Exercise Price at such time, the Exercise Price shall be decreased to such Reset Price. In this Warrant, “Reset Price” means 100% of the VWAP (as defined in the Purchase Agreement) of the Common Stock as of the 90th calendar day following the Original Issue Date (the “90th Day VWAP); provided that if such 90th day is on or after the effective date of a Common Stock, then the “Reset Price” means the greater of: (x) the 90th Day VWAP and (y) the VWAP for the first three Trading Days of the Common Stock in the Trading Market.
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EXERCISE PRICE RESET. If the Company is obligated to issue any Additional Grant Shares (as defined in the Purchase Agreement), the Purchase Price shall thereupon become immediately adjusted in the manner set forth on SCHEDULE 1 attached hereto.
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EXERCISE PRICE RESET. The initial exercise price per share of the Common Stock under this Warrant shall be equal to $2.50 per share (the “Initial Exercise Price”), subject to adjustment under Section 3 (the “Exercise Price”). If on the date that is 90 calendar days immediately following the Original Issue Date, the Reset Price (as hereinafter defined) is less than the Exercise Price at such time, the Exercise Price shall be decreased to such Reset Price. In this Warrant, “Reset Price” means 100% of the VWAP (as defined in the Purchase Agreement) of the Common Stock as of the 90th calendar day following the Original Issue Date (the “90th Day VWAP); provided that if such 90th day is on or after the effective date of a Common Stock Uplisting (as defined in the Certificate of Designations), then the “Reset Price” means the greater of: (x) the 90th Day VWAP and (y) the VWAP for the first three Trading Days of the Common Stock in the Trading Market.
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EXERCISE PRICE RESET. The Exercise Price, but not the number of Shares purchasable upon exercise of each Warrant, shall be reset under the circumstances and in the manner provided in Section 2.02(g) as a one time adjustment, and, after any such adjustment, the provisions of this Article V shall apply in respect of any other subsequent adjustments to the Exercise Price, as so reset, and to the number and kind of Shares purchasable upon exercise of the Warrants.
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EXERCISE PRICE RESET. [RESERVED]
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EXERCISE PRICE RESET 
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Related to EXERCISE PRICE RESET

  • Adjustment of Exercise Price The Exercise Price in effect at the time and the number and kind of securities purchasable upon the exercise of this Warrant shall be subject to adjustment from time to time upon the happening of certain events as follows: (a) In case the Company shall (i) declare a dividend or make a distribution on its outstanding Common Stock in Common Stock, (ii) subdivide or reclassify its outstanding Common Stock into a greater number of shares, (iii) combine or reclassify its outstanding Common Stock into a smaller number of shares, or (iv) enter into any transaction whereby the outstanding Common Stock of the Company are at any time changed into or exchanged for a different number or kind of shares or other securities of the Company or of another corporation through reorganization, merger, consolidation, liquidation or recapitalization, then appropriate adjustments in the number of Shares (or other securities for which such Shares have previously been exchanged or converted) subject to this Warrant shall be made and the Exercise Price in effect at the time of the record date for such dividend or distribution or of the effective date of such subdivision, combination, reclassification, reorganization, merger, consolidation, liquidation or recapitalization shall be proportionately adjusted so that the Holder of this Warrant exercised after such date shall be entitled to receive the aggregate number and kind of shares or other securities which, if this Warrant had been exercised by such Holder immediately prior to such date, the Holder would have been entitled to receive upon such dividend, distribution, subdivision, combination, reclassification, reorganization, merger, consolidation, liquidation or recapitalization. For example, if the Company declares a 2 for 1 stock subdivision (forward split) and the Exercise Price hereof immediately prior to such event was $7.00 per Share and the number of Shares issuable upon exercise of this Warrant was 85,500, the adjusted Exercise Price immediately after such event would be $3.50 per Share and the adjusted number of Shares issuable upon exercise of this Warrant would be 171,000. Such adjustment shall be made successively whenever any event listed above shall occur. (b) In the event that at any time, as a result of an adjustment made pursuant to the provisions of this Section 8, the Holder of the Warrant thereafter shall become entitled to receive any shares of the Company other than Common Stock, thereafter the number of such other shares so receivable upon exercise of the Warrant shall be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to the provisions with respect to the Common Stock contained in Sections 8(a) above.

  • Exercise Price Adjusted As used in this Warrant, the term "Exercise Price" shall mean the purchase price per share specified in Section 3 of this Warrant, until the occurrence of an event stated in subsection (a), (b) or (c) of this Section 5, and thereafter shall mean said price as adjusted from time to time in accordance with the provisions of said subsection. No such adjustment under this Section 5 shall be made unless such adjustment would change the Exercise Price at the time by $.01 or more; provided, however, that all adjustments not so made shall be deferred and made when the aggregate thereof would change the Exercise Price at the time by $.01 or more. No adjustment made pursuant to any provision of this Section 5 shall have the net effect of increasing the Exercise Price in relation to the split adjusted and distribution adjusted price of the Common Stock. The number of shares of Common Stock subject hereto shall increase proportionately with each decrease in the Exercise Price.

  • Exercise Price The exercise price per share of Common Stock under this Warrant shall be $_____, subject to adjustment hereunder (the “Exercise Price”).

  • Adjustment of Exercise Price and Number of Shares The number of and kind of securities purchasable upon exercise of this Warrant and the Exercise Price shall be subject to adjustment from time to time as follows:

  • Exercise Price Adjustment Whenever the number of Warrant Shares purchasable upon the exercise of the Warrant is adjusted, as herein provided, the Exercise Price payable upon the exercise of this Warrant shall be adjusted by multiplying such Exercise Price immediately prior to such adjustment by a fraction, of which the numerator shall be the number of Warrant Shares purchasable upon the exercise of the Warrant immediately prior to such adjustment, and of which the denominator shall be the number of Warrant Shares purchasable immediately thereafter.