Common use of Reset Provision Clause in Contracts

Reset Provision. On the 30-day anniversary of the Initial Exercise Date, the Exercise Price shall be reset to equal the average of the daily VWAPs for the immediately preceding five Trading Days if such average is less than $2.80 (subject to adjustment for reverse and forward stock splits, stock dividends, stock combinations and other similar transactions affecting the number of outstanding shares of the Common Stock that occur after the Initial Exercise Date); provided, however, that the adjusted Exercise Price determined pursuant to this Section 11(a) shall not be less than $1.80 (subject to adjustment for reverse and forward stock splits, stock dividends, stock combinations and other similar transactions affecting the number of outstanding shares of the Common Stock that occur after the Initial Exercise Date).

Reset Provision. On the 30-day anniversary of the Initial Exercise Original Issue Date, the Exercise Conversion Price shall be reset to equal the average of the daily VWAPs for the immediately preceding five Trading Days if such average is less than $2.80 (subject to adjustment for reverse and forward stock splits, stock dividends, stock combinations and other similar transactions affecting the number of outstanding shares of the Common Stock that occur after the Initial Exercise Original Issue Date); provided, however, that the adjusted Exercise Conversion Price determined pursuant to this Section 11(a5(e)(i) shall not be less than $1.80 (subject to adjustment for reverse and forward stock splits, stock dividends, stock combinations and other similar transactions affecting the number of outstanding shares of the Common Stock that occur after the Initial Exercise Original Issue Date).