Common use of Antidilution Adjustment Clause in Contracts

Antidilution Adjustment. As a further condition of LICENSEE as of the effective date of the License, the LICENSEE will issue additional shares (“Antidilution Shares”) to the REGENTS without further consideration, until such time as $Number has been raised by the LICENSEE in gross proceeds from the sale of securities or by conversion of instruments convertible into equity, so that, solely the Shares issued hereunder together with the issuance of the Antidilution Shares, add up to aggregate Written number percent (Number%) of the outstanding and issued securities of the LICENSEE on as converted and Fully Diluted Basis; provided, any increase in the number of shares of stock reserved for any stock option or equity incentive plan of the LICENSEE authorized in connection with a financing will be deemed to have been authorized prior to the sale of such securities. In the event that a round of financing results in more than $ Number in gross proceeds being raised, then for purposes of issuing these Antidilution Shares, a hypothetical round will be considered to have taken place in which sufficient funds are invested to reach $ Number in gross proceeds and any shares issuable upon conversion of convertible securities (SAFEs, convertible notes, etc.) will first be included in such hypothetical round prior to taking into account any shares issuable upon new consideration invested at the full price by investors in the financing.

Antidilution Adjustment. As a further condition of LICENSEE Licensee as of the effective date of the License, the LICENSEE Licensee will issue additional shares (“Antidilution Shares”) to the REGENTS Regents, without further consideration, until such time as $Number has been raised by the LICENSEE Licensee in gross proceeds from the sale of securities or by conversion of instruments convertible into equity, so that, solely the Shares issued hereunder together with the issuance of the Antidilution Shares, add up to aggregate Written number percent (Number%) of the outstanding and issued securities of the LICENSEE Licensee on as converted and Fully Diluted Basis; provided, any increase in the number of shares of stock reserved for any stock option or equity incentive plan of the LICENSEE Licensee authorized in connection with a financing will be deemed to have been authorized prior to the sale of such securities. In the event that a round of financing results in more than $ Number in gross proceeds being raised, then for purposes of issuing these Antidilution Shares, a hypothetical round will be considered to have taken place in which sufficient funds are invested to reach $ Number in gross proceeds and any shares issuable upon conversion of convertible securities (SAFEs, convertible notes, etc.) will first be included in such hypothetical round prior to taking into account any shares issuable upon new consideration invested at the full price by investors in the financing.