Common use of SECURITIES CONVERTIBLE BELOW CURRENT PRICE Clause in Contracts

SECURITIES CONVERTIBLE BELOW CURRENT PRICE. In case: (i) the Company shall issue any Convertible Securities (other than those convertible into Excluded Stock or pursuant to the exercise of rights or options therefor in respect of which an adjustment shall have theretofore been made under the foregoing paragraph (2)), and (ii) the Presumed Consideration per share for additional shares of Common Stock issuable pursuant to the terms of such Convertible Securities shall be less than the Current Price in effect immediately prior to the time of the issuance of such Convertible Securities, then the issuance of such Convertible Securities shall be deemed to be an issuance (as of the date of issuance of such Convertible Securities) of the maximum number of additional shares of Common Stock necessary to effect the conversion or exchange of all such Convertible Securities, and the Company shall be deemed to have received the Presumed Consideration therefor as of the date of issuance of such Convertible Securities. No further adjustment, except as provided in paragraph (4) of this Section 9(e), shall be made upon the actual issuance of Common Stock upon the conversion of Convertible Securities.

SECURITIES CONVERTIBLE BELOW CURRENT PRICE. In case: (i) : the Company shall issue any Convertible Securities (other than those convertible into Excluded Stock or pursuant to the exercise of rights or options therefor in respect of which an adjustment shall have theretofore been made under the foregoing paragraph (2)), and (ii) and the Presumed Consideration per share for additional shares of Common Stock issuable pursuant to the terms of such Convertible Securities shall be less than the Current Price in effect immediately prior to the time of the issuance of such Convertible Securities, then the issuance of such Convertible Securities shall be deemed to be an issuance (as of the date of issuance of such Convertible Securities) of the maximum number of additional shares of Common Stock necessary to effect the conversion or exchange of all such Convertible Securities, and the Company shall be deemed to have received the Presumed Consideration therefor as of the date of issuance of such Convertible Securities. No further adjustment, except as provided in paragraph (4) of this Section 9(e9(c), shall be made upon the actual issuance of Common Stock upon the conversion of Convertible Securities.

SECURITIES CONVERTIBLE BELOW CURRENT PRICE. In case: (i) the Company shall issue any Convertible Securities (other than those convertible into Excluded Stock or pursuant to the exercise of rights or options therefor in respect of which an adjustment shall have theretofore been made under the foregoing paragraph (2)), and (ii) the Presumed Consideration per share for additional shares of Common Stock issuable pursuant to the terms of such Convertible Securities shall be less than the Current Price in effect immediately prior to the time of the issuance of such Convertible Securities, then the issuance of such Convertible Securities shall be deemed to be an issuance (as of the date of issuance of such Convertible Securities) of the maximum number of additional shares of Common Stock necessary to effect the conversion or exchange of all such Convertible Securities, and the Company shall be deemed to have received the Presumed Consideration therefor as of the date of issuance of such Convertible Securities. No further adjustment, except as provided in paragraph (4) of this Section 9(e10(e), shall be made upon the actual issuance of Common Stock upon the conversion of Convertible Securities.

SECURITIES CONVERTIBLE BELOW CURRENT PRICE. In case: (i) the Company shall issue any Convertible Securities (other than those convertible into Excluded Stock or pursuant to the exercise of or rights or options therefor in respect of which an adjustment shall have theretofore been made under the foregoing paragraph (2)), and (ii) the Presumed Consideration per share for additional shares of Common Stock issuable pursuant to the terms of such Convertible Securities shall be less than the Current Price in effect immediately prior to the time of the issuance of such Convertible Securities, then the issuance of such Convertible Securities shall be deemed to be an issuance (as of the date of issuance of such Convertible Securities) of the maximum number of additional shares of Common Stock necessary to effect the conversion or exchange of all such Convertible Securities, and the Company shall be deemed to have received the Presumed Consideration therefor as of the date of issuance of such Convertible Securities. No further adjustment, except as provided in paragraph (4) of this Section 9(e9(c), shall be made upon the actual issuance of Common Stock upon the conversion of Convertible Securities.