CHANGE IN EQUITY PRICE OR CONVERSION RATE. If the purchase price provided for in any Option Rights, the additional consideration, if any, payable upon the issuance, conversion or exchange of any Convertible Securities or the rate at which any Convertible Securities are convertible into or exchangeable for Common Stock decreases at any time, then the Warrant Purchase Price in effect at the time of such decrease shall be readjusted to the Warrant Purchase Price which would have been in effect at such time had such Option Rights or Convertible Securities still outstanding provided for such decreased purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold and the number of Warrant Shares shall be correspondingly readjusted, by taking the number of shares of Common Stock issuable upon the exercise of this Warrant immediately prior to such adjustment multiplied by a fraction, the numerator of which is the Warrant Purchase Price in effect immediately prior to such adjustment and the denominator of which is the Warrant Purchase Price as so adjusted.
CHANGE IN EQUITY PRICE OR CONVERSION RATE. If the purchase price provided for in any Options, the additional consideration, if any, payable upon the issuance, conversion or exchange of any Convertible Securities or the rate at which any Convertible Securities are convertible into or exchangeable for Common Stock changes at any time, then the Warrant Purchase Price in effect at the time of such change shall be readjusted to the Warrant Purchase Price which would have been in effect at such time had such Options or Convertible Securities still outstanding provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold and the number of Warrant Shares shall be correspondingly readjusted.
CHANGE IN EQUITY PRICE OR CONVERSION RATE. If the purchase price provided for in any Options, the additional consideration, if any, payable upon the issuance, conversion or exchange of any Convertible Securities or the rate at which any Convertible Securities are convertible into or exchangeable for Common Stock changes at any time, then the Warrant Purchase Price in effect at the time of such change shall be readjusted to the Warrant Purchase Price which would have been in effect at such time had such Options or Convertible Securities still outstanding provided for such changed purchase price, additional consideration or changed conversion rate, as the case may be, at the time initially granted, issued or sold and the number of Warrant Shares shall be correspondingly readjusted. Notwithstanding the foregoing, no such readjustment shall be made to the Warrant Purchase Price in connection with the following events: (A) the reduction in the Conversion Price (as defined in the Statement Pursuant to Section 10-602 of the Arizona Revised Statutes of the Designations, Preferences, Rights and Privileges of the $7,500,000 Series A Convertible Preferred Stock Par Value $.05 Per Share of Simula, Inc. as in effect on the date hereof) of the Series A Preferred resulting solely and directly from the reduction of the market price of the Common Stock during the period commencing on January 1, 2000, through and including August 17, 2000; (B) any adjustment to the Conversion Rate (as such term is defined in the 1997 Indenture) of the 8% Notes resulting solely and directly from (I) the reduction in the Conversion Price as set forth in clause (A) above, (II) options granted under the Company's 1994 Stock Option Plan and 1999 Incentive Option Plan during the period commencing on January 1, 2000, and ending on August 17, 2000, and (III) the repricing of the Warrant Purchase Price to $1.6250 per Warrant Share pursuant to this Warrant.
