Common use of Adjustment Formula Clause in Contracts

Adjustment Formula. If and whenever on or after the Date of Issuance and prior to the expiration of the Exercise Period the Company issues or sells, or in accordance with Section 2C is deemed to have issued or sold, any shares of 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 immediately upon such issue or sale or deemed issue or sale the Exercise Price shall be reduced to either (x) the consideration per share of such issuance or sale or deemed issuance or sale if such issuance or sale or deemed issuance or sale occurs on or prior to December 21, 2000, or (y) the amount determined by dividing (i) the sum of (1) the product derived by multiplying the Exercise Price in effect immediately prior to such issue or sale by the number of shares of Common Stock Deemed Outstanding immediately prior to such issue or sale, plus (2) the consideration, if any, received by the Company upon such issue or sale, by (ii) the number of shares of Common Stock Deemed Outstanding immediately after such issue or sale, if such issuance or sale or deemed issuance or sale occurs after December 21, 2000, but prior to the expiration of the Exercise Period.

Adjustment Formula. If and whenever on or after the Date of Issuance and prior to the expiration of the Exercise Period the Company issues or sells, or in accordance with Section 2C is deemed to have issued or sold, any shares of Common Stock for a consideration per share less than the Exercise Conversion Price in effect immediately prior to the time of such issue or sale, then immediately upon such issue or sale or deemed issue or sale the Exercise Conversion Price shall be reduced to either (x) the consideration per share of such issuance or sale or deemed issuance or sale if such issuance or sale or deemed issuance or sale occurs on or prior to December 21, 2000, or (y) the amount determined by dividing (i) the sum of (1) the product derived by multiplying the Exercise Conversion Price in effect immediately prior to such issue or sale by the number of shares of Common Stock Deemed Outstanding immediately prior to such issue or sale, plus (2) the consideration, if any, received by the Company upon such issue or sale, by (ii) the number of shares of Common Stock Deemed Outstanding immediately after such issue or sale, if such issuance or sale or deemed issuance or sale occurs after December 21, 2000, but prior to the expiration of the Exercise Period. .

Adjustment Formula. If and whenever on or after the Date of Issuance and prior to the expiration of the Exercise Period the Company issues or sells, or in accordance with Section 2C is deemed to have issued or sold, any shares of Common Stock for a consideration per share less than the Exercise Conversion Price in effect immediately prior to the time of such issue or sale, then immediately upon such issue or sale or deemed issue or sale the Exercise Conversion Price shall be reduced to either (x) the consideration per share of such issuance or sale or deemed issuance or sale if such issuance or sale or deemed issuance or sale occurs on or prior to December 21, 2000, or (y) the amount determined by dividing (i) the sum of (1) the product derived by multiplying the Exercise Conversion Price in effect immediately prior to such issue or sale by the number of shares of Common Stock Deemed Outstanding immediately prior to such issue or sale, plus (2) the consideration, if any, received by the Company upon such issue or sale, by (ii) the number of shares of Common Stock Deemed Outstanding immediately after such issue or sale, if such issuance or sale or deemed issuance or sale occurs after December 21, 2000, but prior to the expiration of the Exercise Period.