Common use of Black Scholes Value Clause in Contracts

Black Scholes Value. Notwithstanding the foregoing and the provisions of Section 4(b) above, at the request of the Holder delivered at any time commencing on the earlier to occur of the public disclosure of any Fundamental Transaction or the consummation of any Fundamental Transaction (other than a Fundamental Transaction resulting solely from a merger or consolidation in which the Company is the surviving entity, the Common Stock continues to be publicly traded on an Eligible Market following such merger or consolidation (as the case may be) and the aggregate number of shares of Common Stock issued (including, without limitation, shares of Common Stock issued or issuable upon conversion, exercise or exchange of all Convertible Securities and Options) in connection with such merger or consolidation (as the case may be) is less than 20% of the Company’s issued and outstanding shares of Common Stock immediately prior to such merger or consolidation (as the case may be)) through the date that is ninety (90) days after the later to occur of (i) the public disclosure of such Fundamental Transaction, (ii) the consummation of such Fundamental Transaction and (iii) the Holder becoming aware of such Fundamental Transaction if such Fundamental Transaction was not publicly disclosed, the Company or the Successor Entity (as the case may be) shall purchase this Warrant from the Holder on the date of such request by paying to the Holder cash in an amount equal to the Black Scholes Value.

Black Scholes Value. Notwithstanding the foregoing and the provisions of Section 4(b) above, at in the request event of the Holder delivered at any time commencing on the earlier to occur of the public disclosure of any a Fundamental Transaction or the consummation of any (including, without limitation, a Fundamental Transaction that occurs prior to the Initial Exercise Date) (other than a Fundamental Transaction resulting solely from a merger or consolidation in which the Company is the surviving entity, the Common Stock continues to be publicly traded on an Eligible Market (other than the TSX) following such merger or consolidation (as the case may be) and the aggregate number an amount of shares of Common Stock issued (including, without limitation, shares of Common Stock issued or issuable upon conversion, exercise or exchange of all Convertible Securities and Options) in connection with such merger or consolidation (as the case may be) which is less than 20% of the Company’s issued and outstanding shares of Common Stock outstanding immediately prior to such merger or consolidation (as are issued in connection with such merger or consolidation), if the case may be)) through Holder has not exercised this Warrant in full prior to the date that is ninety (90) days after the later to occur of (i) the public disclosure consummation of such Fundamental Transaction, at the request of the Holder delivered before the ninetieth (ii90th) day after the consummation of such Fundamental Transaction and (iii) the Holder becoming aware of such Fundamental Transaction if such Fundamental Transaction was not publicly disclosedTransaction, the Company or the Successor Entity (as the case may be) shall purchase this Warrant from the Holder on the date of such request by paying to the Holder cash in an amount equal to the Black Scholes ValueValue of the unexercised portion of this Warrant that remained on the date of the consummation of such Fundamental Transaction.