Common use of Reduction in Number of Shares Clause in Contracts

Reduction in Number of Shares. The parties acknowledge that the loans under the Loan Agreement are to be disbursed in two tranches (“Tranche 1” and “Tranche 2” as defined in the Loan Agreement). 13,200 shares of Warrant Stock are immediately convertible on the Issue Date. 4,400 shares of Warrant Stock automatically become convertible if and when the Company draws Tranche 2 under the Loan Agreement.

Reduction in Number of Shares. The parties acknowledge that the loans under the Loan Agreement are to be disbursed in two tranches (“Tranche 1” and “Tranche 2” as defined in the Loan Agreement). 13,200 22,500 shares of Warrant Stock are immediately convertible on the Issue Date. 4,400 7,500 shares of Warrant Stock automatically become convertible if and when the Company draws Tranche 2 under the Loan Agreement.

Reduction in Number of Shares. The parties acknowledge that the loans under the Loan Agreement are to be disbursed in two tranches (“Tranche 1” and “Tranche 2” as defined in the Loan Agreement). 13,200 52,800 shares of Warrant Stock are immediately convertible on the Issue Date. 4,400 13,200 shares of Warrant Stock automatically become convertible if and when the Company draws Tranche 2 under the Loan Agreement.

Reduction in Number of Shares. The parties acknowledge that the loans under the Loan Agreement are to be disbursed in two tranches (“Tranche 1” and “Tranche 2” as defined in the Loan Agreement). 13,200 1,800 shares of Warrant Stock are immediately convertible on the Issue Date. 4,400 600 shares of Warrant Stock automatically become convertible if and when the Company draws Tranche 2 under the Loan Agreement.