Common use of Sale of Common Stock Below its Current Market Price Clause in Contracts

Sale of Common Stock Below its Current Market Price. In the event the Company shall, at any time or from time to time after the date hereof, issue or sell any shares of Common Stock and the price per share at which such shares were issued or sold shall be less than the current market price per share of Common Stock on the date the Company becomes obligated to make such issuance or sale, then, effective upon such issuance or sale (i) the Underlying Share Purchase Price shall be reduced to the price (calculated to the nearest 1/1,000 of one cent) determined by multiplying the Underlying Share Purchase Price in effect immediately prior to such issuance or sale by a fraction, the numerator of which shall be the sum of (A) the number of shares of Common Stock outstanding (exclusive of any treasury shares) immediately prior to such issuance or sale multiplied by the current market price per share of Common Stock on the date of such issuance or sale plus (B) the consideration received by the Company upon such issuance or sale and the denominator of which shall be the product of (X) the total number of shares of Common Stock outstanding (exclusive of any treasury shares) immediately after such issuance or sale multiplied by (Y) the current market price per share of Common Stock on the date of such issuance or sale and (ii) the number of Underlying Shares purchasable upon the exercise of each Managing Underwriters' Warrant shall be increased to a number determined by multiplying the number of Underlying Shares so purchasable immediately prior to the date of such issuance or sale by a fraction, the numerator of which shall be the Underlying Share Purchase Price in effect immediately prior to the adjustment required by clause (i) of this sentence and the denominator of which shall be the Underlying Share Purchase Price in effect immediately after such adjustment.

Sale of Common Stock Below its Current Market Price. In the event the Company shall, at any time or from time to time after the date hereof, issue or sell any shares of Common Stock and the price per share at which such shares were issued or sold shall be less than the current market price per share of the Common Stock on the date the Company becomes obligated to make such issuance or sale, then, effective upon such issuance or sale sale: (i1) the Underlying Share Purchase Price shall be reduced to the price (calculated to the nearest 1/1,000 one tenth of one centcent ($0.001)) determined by multiplying the Underlying Share Purchase Price in effect immediately prior to such issuance or sale by a fraction, the numerator of which shall be the sum of (A) the number of shares of Common Stock outstanding (exclusive of any treasury shares) immediately prior to such issuance or sale multiplied by the current market price per share of Common Stock on the date of such issuance or sale sale, plus (B) the consideration received by the Company upon such issuance or sale sale, and the denominator of which shall be the product of (X) the total number of shares of Common Stock outstanding (exclusive of any treasury shares) immediately after such issuance or sale sale, multiplied by (Y) the current market price per share of Common Stock on the date of such issuance or sale and sale; and (ii2) the number of Underlying Shares purchasable upon the exercise of each Managing Underwriters' Warrant the Warrants shall be increased to a number determined by multiplying the number of Underlying Shares so purchasable immediately prior to the date of such issuance or sale by a fraction, the numerator of which shall be the Underlying Share Purchase Price in effect immediately prior to the adjustment required by clause (i) of this sentence and the denominator of which shall be the Underlying Share Purchase Price in effect immediately after such adjustment.

Sale of Common Stock Below its Current Market Price. In the event the Company shall, at any time or from time to time after the date hereof, issue or sell any shares of Common Stock and the price per share at which such shares were issued or sold shall be less than the current market price per share of the Common Stock on the date the Company becomes obligated to make such issuance or sale, then, effective upon such issuance or sale sale: (i) the Underlying Share Securities Purchase Price shall be reduced to the price (calculated to the nearest 1/1,000 of one cent) determined by multiplying the Underlying Share Securities Purchase Price in effect immediately prior to such issuance or sale by a fraction, the numerator of which shall be the sum of (A) the number of shares of Common Stock outstanding (exclusive of any treasury shares) immediately prior to such issuance or sale multiplied by the current market price per share of Common Stock on the date of such issuance or sale sale, plus (B) the consideration received by the Company upon such issuance or sale sale, and the denominator of which shall be the product of (X) the total number of shares of Common Stock outstanding (exclusive of any treasury shares) immediately after such issuance or sale sale, multiplied by (Y) the current market price per share of Common Stock on the date of such issuance or sale and sale; and (ii) the number of Underlying Shares Securities purchasable upon the exercise of each Managing Underwriters' Warrant the JMS Warrants shall be increased to a number determined by multiplying the number of Underlying Shares Securities so purchasable immediately prior to the date of such issuance or sale by a fraction, the numerator of which shall be the Underlying Share Securities Purchase Price in effect immediately prior to the adjustment required by clause (i) of this sentence and the denominator of which shall be the Underlying Share Securities Purchase Price in effect immediately after such adjustment.

Sale of Common Stock Below its Current Market Price. In Except --------------------------------------------------- in connection with the event issuance or sale of any Exempt Securities (as defined in paragraph (n) below), if the Company shall, shall at any time or from time to time after the date hereof, issue or sell any shares of Common Stock and the price per share at which such shares were issued or sold shall be less than the current market price per share of the Common Stock on the date the Company becomes obligated to make such issuance or sale, then, effective upon such issuance or sale sale: (i) the Underlying Share Purchase Price shall be reduced to the price (calculated to the nearest 1/1,000 one tenth of one centcent ($0.001)) determined by multiplying the Underlying Share Purchase Price in effect immediately prior to such issuance or sale by a fraction, the numerator of which shall be the sum of (A) the number of shares of Common Stock outstanding (exclusive of any treasury shares) immediately prior to such issuance or sale multiplied by the current market price per share of Common Stock on the date of such issuance or sale sale, plus (B) the consideration received by the Company upon such issuance or sale sale, and the denominator of which shall be the product of (X) the total number of shares of Common Stock outstanding (exclusive of any treasury shares) immediately after such issuance or sale sale, multiplied by (Y) the current market price per share of Common Stock on the date of such issuance or sale and sale; and (ii) the number of Underlying Shares purchasable upon the exercise of each Managing Underwriters' Warrant the Warrants shall be increased to a number determined by multiplying the number of Underlying Shares so purchasable immediately prior to the date of such issuance or sale by a fraction, the numerator of which shall be the Underlying Share Purchase Price in effect immediately prior to the adjustment required by clause (i) of this sentence and the denominator of which shall be the Underlying Share Purchase Price in effect immediately after such adjustment.