Common use of Term of Adjustment for Diluting Issuances Clause in Contracts

Term of Adjustment for Diluting Issuances. The requirement to perform adjustments for diluting issuances under this Section 3(b) shall terminate and be of no further force or effect on the earliest to occur of the following: (i) immediately prior to a firm commitment underwritten public offering by the Company of shares of its Common Stock which results in aggregate cash proceeds to the Company of not less than $20,000,000 and in connection therewith the Company lists its Common Stock on a national securities exchange provided that the price per share of such Common Stock is at least $5.00 at the time of such listing or (ii) the fifth (5th) anniversary of the date hereof.

Term of Adjustment for Diluting Issuances. The requirement to perform adjustments for diluting issuances under this Section 3(b) 19 shall terminate and be of no further force or effect on the earliest to occur of the following: (i) immediately prior to a firm commitment underwritten public offering by the Company of shares of its Common Stock which results in aggregate cash proceeds to the Company of not less than $20,000,000 and in connection therewith the Company lists its Common Stock for trading on a national securities exchange exchange, provided that the price per share of such Common Stock is at least $5.00 at the time of such listing (a “Qualified Initial Public Offering”) or (ii) the fifth (5th) anniversary of the date hereofPrivate Placement Closing Date.