Common use of Adjustment for Issue Clause in Contracts

Adjustment for Issue. or Sale of Common Stock at Less than Exercise Price. Except as provided in Section 11(b) or 11(e) below, if and whenever on or after the date of issuance hereof the Company shall issue or sell, or shall in accordance with Sections 11(a)(1) through (9) be deemed to have issued or sold, any shares of its Common Stock for a consideration per share less than the Exercise Price in effect immediately prior to the time of such issue or sale, then forthwith upon such issue or sale (the "Triggering Transaction"), the Exercise Price shall, subject to subsections (1) through (9) of this Section 11(a), be reduced to the Exercise Price (calculated to the nearest cent) determined by dividing: