Common use of Notice of Adjustment or Substitution Clause in Contracts

Notice of Adjustment or Substitution. On the happening of an event requiring an adjustment of the Purchase Price and upon each change in the number of Warrant Shares issuable upon the exercise of this Warrant, and in the event of any change in the rights of the Holder of this Warrant by reason of other events herein set forth, the Company shall as soon as practicable give written notice ("Notice of Adjustment") to the registered Holder(s) of this Warrant: (i) describing the event; (ii) stating the adjusted Purchase Price, the number of Warrant Shares issuable based upon the difference between the Purchase Price before and after such adjustment; and (iii) stating how such adjustment of Purchase Price or number of Warrant Shares was calculated and the facts on which the calculation is based.