Common use of Adjustment for Convertible Securities Issue Clause in Contracts

Adjustment for Convertible Securities Issue. If the Company issues any securities convertible into or exchangeable for Common Stock (other than securities issued in transactions described in subsections (b) and (c) of this Section 10) for a consideration per share of Common Stock initially deliverable upon conversion or exchange of such securities less than the current market price per share on the date of issuance of such convertible securities, the Exercise Price shall be adjusted in accordance with this formula: P - E' = E x O + M --------- O + D where: E' = the adjusted Exercise Price. E = the then current Exercise Price. O = the number of shares outstanding immediately prior to the issuance of such convertible securities. P = the aggregate consideration received for the issuance of such convertible securities. M = the current market price per share on the date of issuance of such convertible securities.

Adjustment for Convertible Securities Issue. If the Company issues any securities convertible into or exchangeable for Common Stock (other than securities issued in transactions described in subsections (b) and (c) of this Section 10) for a consideration per share of Common Stock initially deliverable upon conversion or exchange of such securities less than the current market price per share on the date of issuance of such convertible securities, the Exercise Price shall be adjusted in accordance with this formula: P - E' = E x O + M --------- ------- O + D where: E' = the adjusted Exercise Price. E = the then current Exercise Price. O = the number of shares outstanding immediately prior to the issuance of such convertible securities. P = the aggregate consideration received for the issuance of such convertible securities. M = the current market price per share on the date of issuance of such convertible securities.

Adjustment for Convertible Securities Issue. If the Company issues any securities convertible into or exchangeable for Common Stock (other than securities issued in transactions described in subsections (b) and (c) of this Section 10) for a consideration per share of Common Stock initially deliverable upon conversion or exchange of such securities less than the current market price per share on the date of issuance of such convertible securities, the Exercise Price shall be adjusted in accordance with this formula: P - --- E' = E x O + M --------- ---------- O + D where: E' = the adjusted Exercise Price. E = the then current Exercise Price. O = the number of shares outstanding immediately prior to the issuance of such convertible securities. P = the aggregate consideration received for the issuance of such convertible securities. M = the current market price per share on the date of issuance of such convertible securities.

Adjustment for Convertible Securities Issue. If the Company issues any securities convertible into or exchangeable for Common Stock (other than securities issued in transactions described in subsections (b) and (c) of this Section 10) for a consideration per share of Common Stock initially deliverable upon conversion or exchange of such securities less than the current market price per share on the date of issuance of such convertible securities, the Exercise Price shall be adjusted in accordance with this formula: P - E' = E x O + M --------- ----- O + D where: E' = the adjusted Exercise Price. E = the then current Exercise Price. O = the number of shares outstanding immediately prior to the issuance of such convertible securities. P = the aggregate consideration received for the issuance of such convertible securities. M = the current market price per share on the date of issuance of such convertible securities.

Adjustment for Convertible Securities Issue. If the Company issues any securities convertible into or exchangeable for Common Stock (other than (x) securities issued in transactions described in subsections (b) and or (c) of this Section 10or (y) the Warrants) for a consideration per share of Common Stock initially deliverable upon conversion or exchange of received for such securities that is less than the current market price Fair Value per share on the date of issuance the Company fixes the offering price of such convertible securities, the Exercise Price shall be adjusted in accordance with this formula: P - E' ’ = E x O + M --------- O + D where: E' ’ = the adjusted Exercise Price. E = the then current Exercise Price. O = the number of shares outstanding immediately prior to the issuance of such convertible securities. P = the aggregate consideration received for the issuance of such convertible securities. M = the current market price Fair Value per share on the date of issuance of such convertible securities.

Adjustment for Convertible Securities Issue. If the Company issues any securities convertible into or exchangeable for Common Stock (other than securities issued in transactions described in subsections (bSections 11(b) and (c) of this Section 10hereof) for a consideration per share of Common Stock initially deliverable upon conversion or exchange of such securities less than the current market price per share on the date of issuance of such convertible securities, the Exercise Price shall be adjusted in accordance with this formula: P - --- E' = E x O + M --------- ---------- O + D where: E' = the adjusted Exercise Price. E = the then current Exercise Price. O = the number of shares outstanding immediately prior to the issuance of such convertible securities. P = the aggregate consideration received for the issuance of such convertible securities. M = the current market price per share on the date of issuance of such convertible securities.