Exercise Price Adjustments. The Exercise Price shall be subject to adjustment from time to time as follows:
Exercise Price Adjustments. The Exercise Price shall be adjusted from time to time such that in case the Company shall hereafter:
(A) pay any dividends on any class of stock of the Company payable in Common Stock or securities convertible into Common Stock;
(B) subdivide its then outstanding shares of Common Stock into a greater number of shares; or
(C) combine outstanding shares of Common Stock, by reclassification or otherwise; then, in any such event, the Exercise Price in effect immediately prior to such event shall (until adjusted again pursuant hereto) be adjusted immediately after such event to a price (calculated to the nearest full cent) determined by dividing (A) the number of shares of Common Stock outstanding immediately prior to such event, multiplied by the then existing Exercise Price, by (B) the total number of shares of Common Stock outstanding immediately after such event (including in each case the maximum number of shares of Common Stock issuable in respect of any securities convertible into Common Stock), and the resulting quotient shall be the adjusted Exercise Price per share. An adjustment made pursuant to this subsection shall become effective immediately after the record date in the case of a dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or reclassification. If, as a result of an adjustment made pursuant to this subsection, the Executive shall become entitled to receive shares of two or more classes of capital stock or shares of Common Stock and other capital stock of the Company, the Board of Directors (whose determination shall be conclusive) shall determine the allocation of the adjusted Exercise Price between or among shares of such classes of capital stock or shares of Common Stock and other capital stock. All calculations under this subsection shall be made to the nearest cent or to the nearest 1/100 of a share, as the case may be. In the event that at any time as a result of an adjustment made pursuant to this subsection, the Executive shall become entitled to receive any shares of the Company other than shares of Common Stock, thereafter the Exercise Price of such other shares so receivable upon exercise of any Options shall be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to the provisions with respect to Common Stock contained in this subsection.
Exercise Price Adjustments. The Exercise Price of the Rights and the number of shares of Preferred Stock issuable upon exercise of the Rights are subject to certain adjustments from time to time in the event of a stock dividend on, or a subdivision or combination of, our Common Stock. The Exercise Price for the Rights also is subject to adjustment in the event of extraordinary distributions of cash or other property to holders of Common Stock.
Exercise Price Adjustments. The Exercise Price and number of Warrant Shares issuable upon exercise of this Warrant are subject to adjustment from time to time as set forth in this Section 8. If, at any time while this Warrant is outstanding, the Company shall issue or cause to be issued rights or warrants to acquire or otherwise sell or distribute shares of Common Stock for a consideration per share less than the Exercise Price then, forthwith upon such issue or sale, the Exercise Price shall be reduced to the price (calculated to the nearest one hundredth of a cent) determined by multiplying the Exercise Price in effect immediately prior thereto by a fraction, the numerator of which shall be the sum of (i) the number of shares of Common Stock outstanding immediately prior to such issuance, and (ii) the number of shares of Common Stock which the aggregate consideration received (or to be received, assuming exercise or conversion in full of such rights, warrants and convertible securities) for the issuance of such additional shares of Common Stock would purchase at such Exercise Price, and the denominator of which shall be the sum of the number of shares of Common Stock outstanding immediately after the issuance of such additional shares.
Exercise Price Adjustments. Upon the occurrence of each event requiring an adjustment in the Exercise Price, or the number of underlying shares, the Company shall give prompt written notice, setting forth the computation used to arrive at the adjusted price or number of underlying shares. The Company's Chief Financial Officer or the Company's accountants shall make the computations. Such computations shall be conclusive and binding upon the Holder unless written objection is given to the Company, within fourteen days from the date of the Company's initial notice.
Exercise Price Adjustments. The Exercise Price and the number of shares purchasable upon exercise of this Warrant shall be subject to adjustment as follows:
(i) Common Stock Issued at Less than the Exercise Price. If the Company shall issue any Common Stock other than Excluded Stock (as hereinafter defined) without consideration or for a consideration per share less than the Exercise Price in effect immediately prior to such issuance, the Exercise Price in effect immediately prior to each such issuance shall immediately (except as provided below) be reduced to the price equal to the consideration per share at which such Common Stock was sold or, if such Common Stock was issued for no consideration, to $.01 per share. In such event the number of Exercise Shares in effect immediately prior to such issuance shall immediately be proportionally increased by multiplying the number of Exercise Shares by a fraction the numerator of which is the Exercise Price in effect immediately prior to such issuance and the denominator of which is the Exercise Price in effect immediately after such issuance. The consideration per share shall be computed by dividing the aggregate consideration received by the Company from the issuance of such Common Stock by the total number of shares of Common Stock issued. For purposes of any adjustment of the Exercise Price and the number of Exercise Share pursuant to this clause (i) and (ii), the following provisions shall be applicable:
Exercise Price Adjustments. The Exercise Price hereof shall be subject to adjustment at any time when this Warrant is issued and outstanding, in the following manner (i) the Exercise Price shall be proportionately reduced if the number of outstanding shares of Common Stock, as a class, is increased by a stock split, stock dividend, reclassification or other similar event; and (ii) the Exercise Price shall be proportionately increased if the number of outstanding shares of Common Stock, as a class, is decreased by a reverse stock split, combination or reclassification of shares, or other similar event.
Exercise Price Adjustments. (i) Whenever the number of Warrant Shares purchasable upon the exercise of this Warrant is adjusted, as herein provided, the Exercise Price payable upon the exercise of this Warrant shall be adjusted by multiplying such Exercise Price immediately prior to such adjustment by a fraction, of which the numerator shall be the number of Warrant Shares purchasable upon the exercise of the Warrant immediately prior to such adjustment, and of which the denominator shall be the number of Warrant Shares purchasable immediately thereafter.
Exercise Price Adjustments. Upon the occurrence of each event --------------------------- requiring an adjustment in the Exercise Price, or the number of underlying shares, the Issuer shall give prompt written notice, setting forth the computation used to arrive at the adjusted price or number of underlying shares. The Issuer's Chief Financial Officer or the Issuer's accountants shall make the computations. Such computations shall be conclusive and binding upon the Holder unless written objection is given to the Issuer, within fourteen days from the date of the Issuer's initial adjustment notice.
Exercise Price Adjustments. In case at the time of any advance under the Funding Agreement dated as of March 12, 1993 (the "Funding Agreement"), the average closing price of the Common Stock in the NASDAQ National Market System on the ten (10) trading days immediately preceding such advance is less than the Exercise Price, the Exercise Price shall be reduced and be equal to such average closing price of the Common Stock on the ten (10) trading days immediately preceding such subsequent advance.
