Common use of Adjustment Upon Issuance of Common Shares Clause in Contracts

Adjustment Upon Issuance of Common Shares. If and whenever on or after the date of issuance of this Warrant, the Company issues or sells, or in accordance with this Section 2 is deemed to have issued or sold, any Common Shares (including the issuance or sale of Common Shares owned or held by or for the account of the Company, but excluding Common Shares comprising Excluded Securities (as defined in the Securities Purchase Agreement)) for a consideration per share (the “New Issuance Price”) less than a price equal to the Exercise Price in effect (the “Applicable Price”) immediately prior to such issue or sale or deemed issuance or sale (the foregoing a “Dilutive Issuance”), then the Exercise Price then in effect shall be reduced to an amount equal to the New Issuance Price; provided that in no event may the Exercise Price be reduced to an amount less than $1.95. For purposes of determining the adjusted Exercise Price under this Section 2(a), the following shall be applicable:

Adjustment Upon Issuance of Common Shares. If and whenever on or after the date of issuance of this WarrantSubscription Date, the Company issues or sells, or in accordance with this Section 2 is deemed to have issued or sold, any Common Shares (including the issuance or sale of Common Shares owned or held by or for the account of the Company, but excluding Common Shares comprising deemed to have been issued or sold, or deemed issued or sold, by the Company in connection with any Excluded Securities (as defined in the Securities Purchase Agreement)Securities) for a consideration per share (the “"New Issuance Price”") less than a price (the "Applicable Price") equal to the Exercise Price in effect (the “Applicable Price”) immediately prior to such issue or sale or deemed issuance or sale (the foregoing a “"Dilutive Issuance”"), then immediately after such Dilutive Issuance, the Exercise Price then in effect shall be reduced to an amount equal to the New Issuance Price; provided that in no event may the Exercise Price be reduced to an amount less than $1.95. For purposes of determining the adjusted Exercise Price under this Section 2(a), the following shall be applicable: