Call of Warrants. Subject to 30 business days’ prior notice to the Holders, and provided an effective registration statement is in effect covering the Common Stock underlying the Warrants, all, but not less than all, of the Warrants will be callable by the Company at $0.01 per share at any time after the closing price for the Company’s Common Stock is equal to or exceeds $2.00 per share (the “Call Price”) for any 20 consecutive trading days and average daily volume during the same period exceeds 200,000 shares per day. The Call Price shall be subject to the same adjustments as the Class B Exercise Price as set forth in Section 4.
Call of Warrants. If, at any time following the six-month anniversary of the date hereof, the Common Stock has traded on any securities exchange, Nasdaq National Market or over-the-counter market for 20 consecutive trading days at a price of 140% of the Purchase Price, the Company shall have the right, upon ten (10) days' written notice, to call this Warrant or any portion thereof for redemption at a price of $0.01 per Share then outstanding under this Warrant. The Company shall mail the notice of any call for redemption pursuant to the preceding paragraph to the Holders not less than ten (10) days prior to the date scheduled for redemption (such date scheduled for redemption, the "Call Date"). Such notice shall state the date, place and price of such call. Each Holder shall continue to have the right to exercise the Warrant until 5:00 p.m., Pacific Time, on the second business day preceding the Call Date. Payment of the redemption price set forth above may be made by cash, check or wire transfer.
Call of Warrants. If the Common Stock has traded on any securities exchange, Nasdaq National Market or over-the-counter market for 20 consecutive trading days at a price of 140% of the Purchase Price, the Company shall have the right, upon ten (10) days' written notice, to call this Warrant or any portion thereof for redemption at a price of $0.01 per Share then outstanding under this Warrant. The Company shall mail the notice of any call for redemption pursuant to the preceding paragraph to the Holders not less than ten (10) days prior to the date scheduled for redemption (such date scheduled for redemption, the "Call Date"). Such notice shall state the date, place and price of such call. Each Holder shall continue to have the right to exercise the Warrant until 5:00 p.m., Pacific Time, on the second business day preceding the Call Date. Payment of the redemption price set forth above may be made by cash, check or wire transfer.
Call of Warrants a. At any time on or after April 30, 2001, provided that the closing bid price for the Shares on the Nasdaq SmallCap Market or the closing price for the Shares on the principal market or exchange on which the Shares are then traded, has exceeded $4.25 per Share for at least ten consecutive trading days beginning on or after April 30, 2001, the Company shall have the option to require the Warrant Holders to sell to the Company (the "Call") all, but not less than all, of the Warrants. The Company shall, in the manner described below, purchase the Warrants (or portion thereof) for a purchase price equal to $0.10 per Warrant (the "Call Price") out of funds legally available therefore.
b. The Company shall give the Warrant Holders at least 30 and no more than 60 days' written notice (a "Call Exercise Notice") of its intention to exercise its option to purchase the Warrants. The Call Exercise Notice shall be sent by the Company, or at the Company's request, by the Warrant Agent in the name and at the expense of the Company by first-class mail, postage prepaid, mailed not less than 30 and no more than 60 days prior to the date of purchase (the "Call Date"), to each Warrant Holder, at his or her address appearing in the records of the Warrant Agent. Each Call Exercise Notice shall state the Call Date and the place or places where the Warrants are to be surrendered for payment of the Call Price.
Call of Warrants. The Company shall have the right to redeem any class of the Warrants if the current Market Value (as such term is defined in Section 10(d) hereof) per Common Share of the Company exceeds the Exercise Price of the class of Warrants being redeemed by fifty percent (50%) for ninety (90) consecutive calendar days.
Call of Warrants. (a) At any time the Company may deliver to the Holder a Call Notice (as defined in Section 17(c)) provided that the closing price of the Company’s Common Stock is $2.00 or more per share (as adjusted for any stock splits, stock combination or similar events) for each of the five (5) consecutive trading days immediately preceding the date of the Call Notice.
(b) Upon receipt of a Call Notice, the Holder shall have a period of sixty (60) calendar days after the date of the Call Notice (the "Exercise Period") to elect to exercise all or a portion of this Warrant in accordance with the terms of Section 3. Following a Call Notice, any purchase rights under this Warrant not exercised during the Exercise Period in accordance with this Section shall expire and this Warrant shall be terminated.
(c) A Call Notice shall be delivered by the Company in writing to the Holder and shall specify that it is being submitted pursuant to this Section 17 and shall include evidence of the closing price of the Company’s common stock for each of the twenty (20) consecutive trading days immediately preceding the date of the Call Notice.
Call of Warrants. The Company shall have the right to redeem any class of the Warrants if the current Market Value (as such term is defined in Section 10(d) hereof) per Common Share of the Company exceeds the Exercise Price of the class of Warrants being redeemed by fifty percent (50%) for ninety (90) consecutive calendar days. Notice of any redemption made pursuant to this section shall be mailed at least 30 days prior to the date scheduled for such redemption (the "Call Date") and shall be given to the Warrant Agent and the Warrant Holders of the class of Warrants being redeemed in accordance with the provisions of Section 21 hereof. The notice of redemption also shall be given no more than 20 days nor less than 10 days prior to the mailing of notice to the Warrant Agent and the Warrant Holders pursuant to this section, by publishing at least once in The Wall Street Journal. Such notice shall state the
Call of Warrants. Upon 30 days' written notice, the Company shall have the option, at any time during the Warrant Exercise Period, to call, redeem and acquire all of the Warrants that are then outstanding and unexercised, on the date specified in such notice (the "Redemption Date"), which Redemption Date shall be 30 days after the date of such notice, for an amount equal to one cent ($0.01) per Warrant; provided, however, that the Warrant Holders shall have the right during the 30-day period immediately following the date of such notice to exercise the Warrants as provided hereinabove. In the event that any Warrants are exercised during such 30-day period, this call option shall be deemed not to have been exercised by the Company as to the Warrants exercised by the holders thereof. Such notice of redemption shall require each Warrant holder to surrender to the Company, on the Redemption Date, at the corporate office of the Warrant Agent (or its successor), his certificate or certificates representing the Warrants to be redeemed. Notwithstanding the fact that any Warrants called for redemption have not been surrendered for redemption and cancellation of the Redemption Date, after the Redemption Date, such Warrants shall be deemed to be expired and all rights of the holders of such unsurrendered Warrants shall cease and terminate, other than the right to receive the redemption price of one cent ($0.01) per Warrant for such Warrants, without interest; provided, however, that such right to receive the redemption price shall itself expire at the end of the Warrant Exercise Period. The Company shall notify the Warrant Agent verbally, with confirmation in writing, of the call of the Warrants and of the Redemption Date, and the Company shall instruct the Warrant Agent accordingly as to the procedures to be followed by the Warrant Agent in connection with the redemption of the Warrants.
Call of Warrants. 4 3.1 Call price and Trigger Price.................................... 4 3.2
Call of Warrants. 3.1 Call price and Trigger Price. The Company may, at its option, upon not less than 30 days' nor more than 60 days' notice, call for redemption of all or any portion of the then outstanding Warrants at a call price of $.05 per warrant (such price is hereinafter referred to as the "Call Price"), at any time after 9:30 A.M., New York City time, on December 20, 1997, provided the Current Market Price of the Company's Common Stock, as determined pursuant to Section 4.2, has been at least 150% of the then effective Exercise Price of the Warrants, as adjusted pursuant to Section 4.8 (the "Call Trigger Price") but not giving effect to any decrease of such Exercise Price as permitted by Section 7.12 hereof, for 20 consecutive business days ending within 15 days of the date of the notice of such call shall have been given to the Warrant Agent by the Company pursuant to Section 4.11, and provided further that the Company has compiled and continues to be in compliance with the provisions of Section 2.2 hereof. In the event the Company exercises its right to redeem the Warrants, such Warrants will be exercisable until the close of business on the date fixed for redemption in such notice. If any Warrant called for redemption is not exercised by such time, such Warrant shall cease to be exercisable and the holder thereof shall be entitled only to the redemption price.
