Common use of Bond and Warrant Repurchase Option Clause in Contracts

Bond and Warrant Repurchase Option. Upon delivery to the Holder ---------------------------------- of the Warrants contemplated by this Agreement, the Holder hereby grants to the Company an option to repurchase the remaining Bonds, issued pursuant to the Indenture, dated as of July 5, 1994 among the Company and IBJ Xxxxxxxx Bank and Trust Company (the "Bonds"), held by it at par plus interest accrued thereon through the date of repurchase, such repurchase to occur no later than September 5, 1998. Provided that the Company exercises its option to repurchase the remaining Bonds as noted above and completes such repurchase, it is granted an option to repurchase, concurrently with the exercise of its Bond repurchase right, this Warrant to the extent it relates to 50,000 shares of Common Stock for $525 from the Holder. Until such option expires, the Holder shall be obligated to retain this Warrant to the extent it relates to 52,500 shares of Common Stock.