Common use of EXERCISE PRICE RESET Clause in Contracts

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.

EXERCISE PRICE RESET. In the event that on any anniversary of the date of this Agreement September 30, 1997 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.