the Conversion Price shall be automatically reduced
in any new offering where Borrower sells securities that have registration rights, are registered or become registered under the Securities Act, at an effective price per share less than the then effective Conversion Price (such issuance is referred to herein as a “Dilutive Issuance”), then, the Conversion Price shall be automatically reduced and only reduced to equal such lower effective price per share https://www.sec.gov/Archives/edgar/data/1175680/000119312520099591/d914246dex41.htm