Standard Preferred Stock Warrant Agreement标准优先股授权协议

-34-StandardPreferredStockWarrantAgreement标准优先股授权协议核心提示：Article1Issuance,ExecutionandDeliveryofWarrantCertificatesSection1.1IssuanceofWarrantCertificatesSection1.2ExecutionandDeliveryofWarrantCertificatesSection1.3RegistrationandCountersignatureArticle2WarrantPrice,DuratioArticle1Issuance,ExecutionandDeliveryofWarrantCertificatesSection1.1IssuanceofWarrantCertificatesSection1.2ExecutionandDeliveryofWarrantCertificatesSection1.3RegistrationandCountersignatureArticle2WarrantPrice,DurationandExerciseofWarrantCertificatesSection2.1WarrantPriceSection2.2DurationofWarrantCertificates.Section2.3ExerciseofWarrantCertificatesArticle3OtherProvisionsRelatingtoRightsofHoldersofWarrantCertificatesSection3.1NoRightsasSecurityholdersConferredbyWarrantCertificates.Section3.2Lost,Stolen,MutilatedorDestroyedWarrantCertificatesSection3.3HolderofWarrantCertificateMayEnforceRightsSection3.4CallofWarrantsbytheCompanySection3.5OptionalReductionofWarrantPriceSection3.6ReservationofSharesSection3.7[Intentionallyomitted]Section3.8AdjustmentofExercisePriceandNumberofSharesPurchasableorNumberofWarrantsSection3.9FractionalWarrantsandFractionalSharesSection3.10NoticestoWarrantholders.Article4ExchangeandTransferofWarrantCertificatesSection4.1ExchangeandTransferSection4.2TreatmentofHoldersofWarrantCertificatesSection4.3CancellationofWarrantCertificatesArticle5ConcerningtheWarrantAgentSection5.1WarrantAgentSection5.2ConditionsofWarrantAgent’sObligationsSection5.3RegistrationandAppointmentofSuccessorWarrantAgentArticle6MiscellaneousSection6.1SupplementsandAmendmentsSection6.2NoticesandDemandstotheCompanyandWarrantAgentSection6.3AddressesSection6.4DeliveryofProspectus.Section6.5ObtainingofGovernmentalApprovalsSection6.6PersonsHavingRightsunderWarrantAgreementSection6.7HeadingsSection6.8CounterpartsSection6.9InspectionofAgreementSection6.10GoverningLawSection6.11SuccessorsSection6.12TerminationFromtimetotime,AAAInc.,a_________(PLACENAME)corporation(theCompany)[,andBBBInc.,a_________(PLACENAME)corporation(theCo-Issuer)],mayenterintooneormorewarrantagreementsthatprovidefortheissuanceandsaleofwarrants(Warrants)topurchasesharesoftheCompany’sPreferredStock,$,_________parvalue[ofwhichtheredemptionpriceandtheliquidationamountshallbeguaranteedbytheCo-Issuer](Shares).Thestandardprovisionssetforthhereinmaybeincludedorincorporatedbyreferenceinanysuchwarrantagreement(aWarrantAgreement).TheWarrantAgreement,includingtheprovisionsincorporatedthereinbyreference,ishereinreferredtoasthisAgreement.ThepersonnamedastheWarrantAgentinthefirstparagraphoftheWarrantAgreementishereinreferredtoastheWarrantAgent.UnlessotherwisedefinedinthisAgreementorintheWarrantAgreement,asthecasemaybe,termsdefinedintheWarrantAgreementareusedhereinasthereindefinedandtermsdefinedhereinareusedintheWarrantAgreementashereindefined.*Ifco-issuedbyBBB,addthelanguageinbracketsrelatingtoBBBco-issuingtheWarrants.Article1Issuance,ExecutionandDeliveryofWarrantCertificatesSection1.1IssuanceofWarrantCertificates.EachWarrantCertificateshallevidenceoneormoreWarrants.EachWarrantevidencedtherebyshallrepresenttheright,subjecttotheprovisionscontainedhereinandtherein,topurchasesuchnumbersofSharesasaresetforthintheWarrantAgreement.ThenumberofWarrantswhichmaybeissuedanddeliveredunderthisAgreementisunlimited.ThereshallbeestablishedinorpursuanttoaresolutionoftheBoardofDirectorsoftheCompanyoranydulyauthorizedcommitteethereoforestablishedinoneormorewarrantagreementssupplementalhereto,priortotheissuanceofanyWarrants:thedesignationofsuchWarrants;iftheWarrantsareissuedtogetherasaunitwithanyothersecuritiesoftheCompany,thedateafterwhichtheWarrantsshallbefreelytradableseparatelyfromsuchothersecurities(theDistributionDate);iftheCompanymayatitsoptionorundercircumstancesdescribedthereinprovideforanearlierDistributionDate;theexpirationdate,pursuanttoSection2.2;theexercisepriceandanyformofconsiderationotherthanlawfulmoneyoftheUnitedStatesofAmericabywhichtheexercisepricemaybepaidpursuanttoSection2.1;theCallPrice,CallDateandCallTermspursuanttoSection3.4;thelimitations,ifany,upontheReducedWarrantPriceandtheReducedWarrantPricePeriod,pursuanttoSection3.5;thecircumstances,ifany,underwhichtheExercisePriceandthenumberofSharespurchasableupontheexerciseofeachWarrantandthenumberofWarrantsoutstandingaresubjecttoadjustmentandthemannerofmakinganysuchadjustment.Section1.2ExecutionandDeliveryofWarrantCertificates.EachWarrantCertificate,wheneverissued,shallbeinregisteredformsubstantiallyinsuchformorformsasshallbeestablishedbytheCompany[andtheCo-Issuer]fromtimetotimepursuanttooneormoreresolutionsoftheBoardofDirectorsoftheCompany[andtheCo-Issuer]orinoneormorewarrantagreementssupplementalhereto,andineachcaseshallbedatedasofthedateofissuancethereof,andmayhavesuchletters,numbersorothermarksofidentificationordesignationandsuchlegendsorendorsementsprinted,lithographedorengravedthereonastheofficersoftheCompany[andtheCo-Issuer]executingtheWarrantCertificatemayapprove(executionthereoftobeconclusiveevidenceofsuchapproval)andasarenotinconsistentwiththeprovisionsofthisAgreement,orasmayberequiredtocomplywith(i)anylaworwithanyruleorregulationmadepursuanttheretoor(ii)anyruleorregulationofanystockexchangeonwhichtheWarrantCertificatesmaybelisted,ortoconformtousage.TheWarrantCertificatesshallbesignedonbehalfoftheCompanybyitsChairmanoftheBoardofDirectors,itsChiefOperatingOfficer,itsPresident,itsChiefFinancialOfficer,aVicePresidentoritsTreasurerandattestedbyitsSecretaryorAssistantSecretary.[TheWarrantCertificatesshallbesignedonbehalfoftheCo-IssuerbyitsChairmanoftheBoardofDirectors,itsChiefOperatingOfficer,itsPresident,itsChiefFinancialOfficer,aVicePresidentoritsTreasurerandattestedbyitsSecretaryorAssistantSecretary.]SuchsignaturesmaybemanualorfacsimilesignaturesofsuchauthorizedofficersandmaybeimprintedorotherwisereproducedontheWarrantCertificates.NoWarrantCertificateshallbevalidforanypurpose,andnoWarrantevidencedtherebyshallbeexercisable,untilsuchWarrantCertificatehasbeencountersignedbythemanualsignatureoftheWarrantAgent.SuchsignaturebytheWarrantAgentuponanyWarrantCertificateexecutedbytheCompany[andtheCo-Issuer]shallbeconclusiveevidencethattheWarrantCertificatesocountersignedhasbeendulydeliveredhereunder.IfanyofficeroftheCompany[oroftheCo-Issuer]whoshallhavesignedanyoftheWarrantCertificateseithermanuallyorbyfacsimilesignatureshallceasetobesuchofficerbeforetheWarrantCertificatessosignedshallhavebeencountersignedanddeliveredtotheWarrantAgent,suchWarrantCertificatesneverthelessmaybecountersignedanddeliveredasthoughthepersonwhosignedsuchWarrantCertificateshadnotceasedtobesuchofficeroftheCompany[oroftheCo-Issuer,asthecasemaybe].AnyWarrantCertificatemaybesignedonbehalfoftheCompany[andtheCo-Issuer]bysuchpersonsas,attheactualdateoftheexecutionofsuchWarrantCertificate,shallbetheproperofficersoftheCompany[andtheCo-Issuer,respectively],althoughatthedateoftheexecutionofthisAgreementanysuchpersonswasnotanofficer.Section1.3RegistrationandCountersignature.TheWarrantAgentshall,uponreceiptofWarrantCertificates,dulyexecutedonbehalfoftheCompany[andtheCo-Issuer],countersigntheWarrantCertificatesevidencingWarrantstopurchasethenumberofSharessetforthintheWarrantAgreementandshalldeliversuchWarrantCertificatestotheappropriatepersonorentityupontheorderoftheCompany[andtheCo-Issuer].AftertheoriginalissuanceoftheWarrantCertificates,theWarrantAgentshallcountersignaWarrantCertificateonlyiftheWarrantCertificateisissuedinexchangeorsubstitutionfor,orinconnectionwiththeregistrationoftransferof,oneormorepreviouslycountersignedWarrantCertificates,ashereinafterprovided.TheWarrantCertificatesshallnotbevalidforanypurposeunlesssocountersigned.TheWarrantAgent’scountersignatureonallWarrantsshallbeinsubstantiallythefollowingform:[NAMEOFWARRANTAGENT],asWarrantAgentBy:/S/_________Name:_________Article2WarrantPrice,DurationandExerciseofWarrantCertificatesSection2.1WarrantPrice.TheexercisepriceofeachWarrantandanyotherformofconsiderationotherthanlawfulmoneyoftheUnitedStatesofAmericabywhichtheexercisepricemaybepaidshallbeassetforthintheWarrantAgreement.Thepurchaseprice(includingmoneysandsuchotherconsideration)oftheSharesuponexerciseoftheWarrantsisreferredtointhisAgreementastheWarrantPriceandispayableinfullatthetimeofexercise.Section2.2DurationofWarrantCertificates.WarrantCertificatesmaybeexercisedinwholeatanytime,andinpartfromtimetotime,duringtheperiodsetforthintheWarrantAgent(theExpirationDate).EachWarrantCertificatenotexercisedonorbeforethecloseofbusinessontheExpirationDateshallbecomevoid,andallrightsoftheholderthereunderandunderthisAgreementshallcease.Section2.3ExerciseofWarrantCertificates.(a)PriortotheExpirationDate,aWarrantCertificate,ifcountersignedbytheWarrantAgent,maybeexercisedinwholeorinpartbyprovidingcertaininformationsetforthonthereversesideoftheWarrantCertificateand,unlessotherwiseprovidedpursuanttoSection2.1,bypayinginfull(incashorbycertifiedorofficialbankcheckin_________(Placename)ClearingHousefundsorbybankwiretransferinimmediatelyavailablefunds),inUnitedStatesdollars,theWarrantPricefortheSharesastowhichtheWarrantCertificateisexercised,totheWarrantAgentatitscorporatetrustofficeattheaddresssetforthintheWarrantAgreement.ThepaymentmustspecifythenameoftheholderandthenumberofWarrantsexercisedbysuchholder.WarrantswillbedeemedtohavebeenexerciseduponreceiptbytheWarrantAgentoftheWarrantPriceandtheWarrantCertificateproperlycompletedanddulyexecutedbytheregisteredholderorholdersthereoforbythedulyappointedlegalrepresentativethereoforbyadulyauthorizedattorney,suchsignaturetobeguaranteed(undertheMedallionProgram)byabankortrustcompany,byabrokerordealerwhichisamemberoftheNationalAssociationofSecuritiesDealers,Inc.(NASD)orbyamemberofanationalsecuritiesexchange.IftheWarrantAgentreceivesmoneysinpaymentoftheWarrantPrice,theWarrantAgentshalldepositallfundsreceivedbyitintheaccountoftheCompanymaintainedwithitforsuchpurpose.IftheWarrantAgentreceivesconsiderationotherthanmoneysforWarrants,theWarrantAgentshalldeliversuchconsiderationdirectlytotheCompany.Ineithercase,theWarrantAgentshalladvisetheCompany[andtheCo-Issuer]bytelexortelecopyattheendofeachdayastotheWarrantCertificatesthathavebeenexercisedandtheamountofmoneysdepositedtoitsaccountorthetypeandamountofotherconsiderationtobedeliveredtoit.(b)TheWarrantAgentshall,fromtimetotime,aspromptlyaspracticable,advisetheCompany[andtheCo-Issuer]of(i)thenumberofWarrantsexercised,(ii)theinstructionsofeachholderoftheWarrantCertificatesevidencingsuchWarrantswithrespecttodeliveryoftheSharestowhichsuchholderisentitleduponsuchexercise,(iii)deliveryofWarrantCertificatesevidencingthebalance,ifany,oftheWarrantsremainingaftersuchexerciseand(iv)suchotherinformationastheCompany[andtheCo-Issuer]shallreasonablyrequire.(c)AssoonaspracticableafterreceiptofpaymentoftheWarrantPriceandtheWarrantCertificateproperlycompletedanddulyexecutedatthecorporatetrustofficeoftheWarrantAgent,theCompanyshallissueordeliver,upontheorderoftheholderofsuchWarrantCertificate,theSharesinauthorizeddenominationstowhichsuchholderisentitled,infullyregisteredforminsuchnameornamesasmaybedirectedbysuchholder,andifsuchWarrantCertificatewasnotexercisedinfull,uponrequestoftheholderanewWarrantCertificateevidencingthenumberofWarrantsremainingunexercisedshallbeissuedifsufficienttimeremainspriortotheExpirationDate.[Simultaneously,theCo-IssuershallenterintoaPreferredStockGuaranteeAgreementwithrespecttotheSharestowhichsuchholderisentitled,andifsuchWarrantCertificatewasnotexercisedinfull,uponrequestoftheholder,shallexecuteanddelivertogetherwiththeCompanytheabove-mentionednewWarrantCertificateevidencingthenumberofWarrantsremainingunexercisedshallbeissuedifsufficienttimeremainspriortotheExpirationDate.](d)TheCompany[andtheCo-Issuer]shallnotberequiredtopayanytaxortaxeswhichmaybepayableinrespectofanytransferinvolvedintheissueofanyWarrantCertificatesoranycertificatesforSharesinanameotherthantheregisteredholderofaWarrantCertificatesurrenderedupontheexerciseofaWarrant,andtheCompany[andtheCo-Issuer]shallnotberequiredtoissueordeliversuchcertificatesunlessoruntilthepersonorpersonsrequestingtheissuancethereofshallhavepaidtotheCompany[andtheCo-Issuer]theamountofsuchtaxorshallhaveestablishedtothesatisfactionoftheCompany[andtheCo-Issuer]thatsuchtaxhasbeenpaid.Article3OtherProvisionsRelatingtoRightsofHoldersofWarrantCertificatesSection3.1NoRightsasSecurityholdersConferredbyWarrantCertificates.NoWarrantCertificateshallentitletheholderthereoftoanyoftherightsofastockholderoftheCompany,[ortoanyrightstoguaranteepaymentsbytheCo-Issuer]includingtherighttoreceivethepaymentofdividendsonorvotetheShares.Section3.2Lost,Stolen,MutilatedorDestroyedWarrantCertificates.UponreceiptbytheCompany[,theCo-Issuer]andtheWarrantAgentofevidencereasonablysatisfactorytothemoftheownershipandtheloss,theft,destructionormutilationoftheWarrantCertificate,andofsuchsecurityorindemnityasmayberequiredbythemtosaveeachofthemharmless,and,inthecaseofmutilation,uponsurrenderthereoftotheWarrantAgentforcancellation,then,intheabsenceofnoticetotheCompany[,theCo-Issuer]ortheWarrantAgentthatsuchWarrantCertificatehasbeenacquiredbyabonafidepurchaser,theCompany[andtheCo-Issuer]shallexecute,andanauthorizedofficeroftheWarrantAgentshallmanuallycountersignanddeliver,inexchangefororinlieuofthelost,stolenordestroyedormutilatedWarrantCertificate,anewWarrantCertificateofthesametenorandforalikenumberofWarrants.UpontheissuanceofanynewWarrantCertificateunderthisSection,theCompany[andtheCo-Issuer]mayrequirethepaymentofasumsufficienttocoveranytaxorothergovernmentalchargethatmaybeimposedinrelationtheretoandanyotherexpense(includingthefeesandexpensesoftheWarrantAgent)inconnectiontherewith.EverysubstituteWarrantCertificateexecutedanddeliveredpursuanttothisSectioninlieuofanylost,stolenordestroyedWarrantCertificateshallconstituteanadditionalcontractualobligationoftheCompany[andtheCo-Issuer],whetherornotthelost,stolenordestroyedWarrantCertificateshallbeatanytimeenforceablebyanyone,andshallbeentitledtothebenefitsofthisAgreementequallyandproportionatelywithanyandallotherWarrantCertificatesdulyexecutedanddeliveredhereunder.TheprovisionsofthisSectionareexclusiveandshallpreclude(totheextentlawful)anyandallotherrightsorremedieswithrespecttothereplacementofmutilated,lost,stolenordestroyedWarrantCertificates.Section3.3HolderofWarrantCertificateMayEnforceRights.NotwithstandinganyoftheprovisionsofthisAgreement,anyholderofanyWarrantCertificate,withouttheconsentoftheWarrantAgent,theholderofanySharesortheholderofanyotherWarrantCertificate,may,inhisorherownbehalfandforhisorherownbenefit,enforce,andmayinstituteandmaintainanyactionorproceedingagainsttheCompany[andtheCo-Issuer]toenforceorotherwiseinrespectof,hisorherrighttoexercisehisorherWarrantCertificateinthemannerprovidedinhisorherWarrantCertificateandinhisorherAgreement.Section3.4CallofWarrantsbytheCompany.IfsoprovidedintheWarrantAgreement,theCompanyshallhavetherighttocallandrepurchaseanyorallWarrantsattheprice(theCallPrice)andonorafterthedate(theCallDate)andupontheterms(theCallTerms)asshallbeestablishedfromtimetotimeinorpursuanttotheWarrantAgreementbeforetheissuanceofsuchWarrants,ortoresolutionsoftheBoardofDirectorsoftheCompany.NoticeofsuchCallPrice,CallDateandCallTermsshallbegiventoregisteredholdersofWarrantsinwritingbytheCompanyortheWarrantAgent.Section3.5OptionalReductionofWarrantPrice.Subjecttothelimits,ifany,establishedfromtimetotimebytheBoardofDirectorsoftheCompanyorintheWarrantAgreement,theCompanyshallhavetheright,atanytimeorfromtimetotime,voluntarilytoreducethethencurrentWarrantPricetosuchamount(theReducedWarrantPrice)andforsuchperiodorperiodsoftime,whichmaybethroughthecloseofbusinessontheExpirationDate(theReducedWarrantPricePeriod),asmaybedeemedappropriatebytheBoardofDirectorsoftheCompany.NoticeofanysuchReducedWarrantPriceandReducedWarrantPricePeriodshallbegiventoregisteredholdersofWarrantsinwritingbytheCompanyortheWarrantAgent.AftertheterminationoftheReducedWarrantPricePeriod,theWarrantPriceshallbesuchWarrantPricethatwouldhavebeenineffecthadtherebeennoreductionintheWarrantPricepursuanttotheprovisionsofthisSection3.5.Section3.6ReservationofShares.ForthepurposeofenablingittosatisfyanyobligationtoissueSharesuponexerciseofWarrants,theCompanywillatalltimesthroughthecloseofbusinessontheExpirationDate,reserveandkeepavailable,freefrompreemptiverightsandoutofitsaggregateauthorizedbutunissuedortreasurysharesofPreferredStock,thenumberofSharesdeliverableupontheexerciseofalloutstandingWarrants,andthetransferagentforthesharesisherebyirrevocablyauthorizedanddirectedatalltimestoreservesuchnumberofauthorizedandunissuedortreasurysharesofPreferredStockasshallberequiredforsuchpurpose.TheCompanywillkeepacopyofthisAgreementonfilewithsuchtransferagentandwitheverytransferagentforanysharesoftheCompany’scapitalstockissuableupontheexerciseofWarrants.TheWarrantAgentisherebyirrevocablyauthorizedtorequisitionfromtimetotimefromsuchtransferagentstockcertificatesissuableuponexerciseofoutstandingWarrants,andtheCompanywillsupplysuchtransferagentwithdulyexecutedstockcertificatesforsuchpurpose.BeforetakinganyactionthatwouldcauseanadjustmentpursuanttoSection3.7reducingtheExercisePricebelowthethenparvalue(ifany)oftheSharesissuableuponexerciseoftheWarrants,theCompanywilltakeanycorporateactionthatmay,intheopinionofitscounsel,benecessaryinorderthattheCompanymayvalidlyandlegallyissuefullypaidandnonassessableSharesattheExercisePriceassoadjusted.TheCompanycovenantsthatallSharesissueduponexerciseoftheWarrantswill,uponissuanceinaccordancewiththetermsofthisAgreement,befullypaidandnonassessableandfreefromalltaxes,liens,chargesandsecurityinterestscreatedbyorimposedupontheCompanywithrespecttotheissuanceandholdingthereof.Section3.7[Intentionallyomitted].Section3.8AdjustmentofExercisePriceandNumberofSharesPurchasableorNumberofWarrants.TheExercisePrice,thenumberofSharespurchasableupontheexerciseofeachWarrantandthenumberofWarrantsoutstandingaresubjecttoadjustmentfromtimetotimeupontheoccurrenceoftheeventsenumeratedinthisSection3.8.(a)IftheCompanyshall(i)payadividendonitscapitalstock(includingPreferredStock)insharesofStock,(ii)subdivideitsoutstandingsharesofPreferredStock(iii)combineitsoutstandingsharesofPreferredStockintosmallernumberofsharesofPreferredStockor(iv)issueanysharesofitscapitalstockinareclassificationofthePreferredStock(includinganysuchreclassificationinconnectionwithaconsolidationormergerinwhichtheCompanyisthecontinuingcorporation),thenumberofSharespurchasableuponexerciseofeachWarrantimmediatelypriortheretoshallbeadjustedsothattheholderofeachWarrantshallbeentitledtoreceivethekindandnumberofSharesorothersecuritiesoftheCompanywhichsuchholderwouldhaveownedorhavebeenentitledtoreceiveafterthehappeningofanyoftheeventsdescribedabove,hadsuchWarrantbeenexercisedimmediatelypriortothehappeningofsucheventoranyrecorddatewithrespectthereto.Anadjustmentmadepursuanttothisparagraph(a)shallbecomeeffectiveimmediatelyaftertheeffectivedateofsucheventretroactivetotherecorddate,ifany,forsuchevent.(b)IntheeventofanycapitalreorganizationoranyreclassificationofthePreferredStock(exceptasprovidedinparagraph(a)aboveorparagraph(h)below),anyholderofWarrantsuponexercisethereofshallbeentitledtoreceive,inlieuofthePreferredStocktowhichheorshewouldhavebecomeentitleduponexerciseimmediatelypriortosuchreorganizationorreclassification,theshares(ofanyclassorclasses)orothersecuritiesorpropertyoftheCompanythatheorshewouldhavebeenentitledtoreceiveatthesameaggregateExercisePriceuponsuchreorganizationorreclassificationifhisorherWarrantshadbeenexercisedimmediatelypriorthereto;andinanysuchcase,appropriateprovision(asdeterminedingoodfaithbytheBoardofDirectorsoftheCompany,whosedeterminationshallbeconclusiveandshallbeevidencedbyaresolutionfiledwiththeWarrantAgent)shallbemadefortheapplicationofthisSection3.8withrespecttotherightsandintereststhereafteroftheholdersofWarrants(includingtheallocationoftheadjustedWarrantPricebetweenoramongsharesofclassesofcapitalstock),totheendthatthisSection3.8(includingtheadjustmentsofthenumberofsharesofPreferredStockorothersecuritiespurchasableandtheWarrantPricethereof)shallthereafterbereflected,asnearlyasreasonablypracticable,inallsubsequentexercisesoftheWarrantsforanysharesorsecuritiesorotherpropertythereafterdeliverableupontheexerciseoftheWarrants.(c)Exceptforadjustmentsrequiredbyparagraph(h)hereof,noadjustmentinthenumberofSharespurchasablehereundershallberequiredunlesssuchadjustmentwouldrequireanincreaseordecreaseofatleastonepercent(1%)inthenumberofSharespurchasableupontheexerciseofeachWarrant;provided,however,thatanyadjustmentswhichbyreasonofthisparagraph(c)arenotrequiredtobemadeshallbecarriedforwardandtakenintoaccountinanysubsequentadjustment.Allcalculationsshallbemadetothenearestcentandtothenearestone-hundredthofaShare,asthecasemaybe.(d)WheneverthenumberofSharespurchasableupontheexerciseofeachWarrantisadjustedashereinprovided(whetherornottheCompanythenorthereafterelectstoissueadditionalWarrantsinsubstitutionforanadjustmentinthenumberofSharesasprovidedinparagraph(f),theExercisePricepayableuponexerciseofeachWarrantshallbeadjustedbymultiplyingsuchExercisePriceimmediatelypriortosuchadjustmentbyafraction,ofwhichthenumeratorshallbethenumberofSharespurchasableupontheexerciseofeachWarrantimmediatelypriortosuchadjustment,andofwhichthedenominatorshallbethenumberofSharessopurchasableimmediatelythereafter.(e)ForthepurposeofthisSection3.8,thetermsharesofStockshallmean(i)theclassofstockdesignatedasthePreferredStockoftheCompanyatthedateofthisAgreement,or(ii)anyotherclassofstockresultingfromsuccessivechangesorreclassificationofsuchsharesconsistingsolelyofchangesinparvalue,fromparvaluetonoparvalue,orfromnoparvaluetoparvalue.Ifatanytime,asaresultofanadjustmentmadepursuanttoparagraph(a)or(b)above,theholdersofWarrantsshallbecomeentitledtopurchaseanysharesoftheCompanyotherthansharesofStock,thereafterthenumberofsuchothersharessopurchasableuponexerciseofeachWarrantandtheExercisePriceofsuchsharesshallbesubjecttoadjustmentfromtimetotimeinamannerandontermsasnearlyequivalentaspracticabletotheprovisionswithrespecttotheSharescontainedinparagraphs(a)through(d),inclusive,above,andtheprovisionsofSection2.1,2.2,2.3,3.6,3.7(a)and3.10,withrespecttotheShares,shallapplyonliketermstoanysuchothershares.(f)TheCompanymayelect,onorafterthedateofanyadjustmentrequiredbyparagraphs(a)through(b)ofthisSection3.8,toadjustthenumberofWarrantsinsubstitutionforanadjustmentinthenumberofSharespurchasableupontheexerciseofaWarrant.EachoftheWarrantsoutstandingaftersuchadjustmentofthenumberofWarrantsshallbeexercisableforthesamenumberofsharesasimmediatelypriortosuchadjustment.EachWarrantheldofrecordpriortosuchadjustmentofthenumberofWarrantsshallbecomethatnumberofWarrants(calculatedtothenearesthundredth)obtainedbydividingtheWarrantPrice