Common use of Cashless Exercise Clause in Contracts

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “"cashless exercise” " in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant there is no effective Registration Statement registering, or no current prospectus available for, registering the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “"cashless exercise” " in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant there is no effective Registration Statement registering, or no current prospectus available for, registering the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time If, after a period of one year from hundred and eighty (180) days after the date Date of issuance Issuance of this Warrant Warrant, at the time of exercise hereof there is no effective Registration Statement registration statement registering, or no current the prospectus contained therein is not available for, for the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant Closing there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from 180 days following the date of issuance of this Warrant Issue Date (“Registration Deadline”), there is no effective Registration Statement registration statement registering, or no current prospectus available for, the resale of the Warrant Shares by the HolderHolder (a “Registration Default”), then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant Effectiveness Date (as defined in the Registration Rights Agreement), there is no effective Registration Statement registering, or no current prospectus available for, for the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year least 6 months has passed from the date of issuance of this Warrant issuance, there is no effective Registration Statement registering, or no current prospectus available for, the resale of registration statement registering the Warrant Shares by the HolderShares, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the HolderHolder (a “Cashless Exercise Trigger”), then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant Issuance Date, there is no effective Registration Statement registration statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time 180 days after one year from the date of issuance of this Warrant Warrant, there is no effective Registration Statement registration statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from during the date of issuance term of this Warrant either there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date six month anniversary of issuance of this Warrant the Issue Date, there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant Issuance Date there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares ADSs by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares ADSs equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after the one year from anniversary of the date of issuance of this Warrant the Purchase Agreement, there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from during the date of issuance term of this Warrant there is no effective Registration Statement registering, or no current prospectus available for, the issuance or resale of the Warrant Shares to or by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant Initial Exercise Date there is no effective Registration registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from In the date of issuance of this Warrant event that there is no effective Registration Statement registeringregistration statement five months from the Issuance Date registering the Warrant Shares, or or, by the same time, no current prospectus available for, for the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at the Holder’s election, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If So long as at any time after one year from the date of issuance of this Warrant there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from 180 days following the date closing of issuance of this Warrant the Qualified Offering (“Registration Deadline”), there is no effective Registration Statement registration statement registering, or no current currently prospectus available for, the resale of the Warrant Shares by the HolderHolder (a “Registration Default”), then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the six month anniversary of the date of issuance of this Warrant the Purchase Agreement, there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the 18-month anniversary of the date of issuance of this Warrant the Purchase Agreement, there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year the 144 holding period has been satisfied starting from the date of issuance of this Warrant Warrant, there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year six months from the date of issuance of this Warrant there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the HolderHolder (a “Cashless Exercise Trigger”), then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, and the Common Stock is listed on a US Trading Market, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant hereof, there is no effective Registration Statement registering, or no current prospectus available for, the resale issuance of the Warrant Shares by to the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) times (X)] by (A), where:

Cashless Exercise. If at any time after the one year from anniversary of the date of issuance of this Warrant the Purchase Agreement, there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant there is no effective Registration Statement registration statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If If, at any time after one year from the first anniversary of the date of issuance of that this Warrant is issued, there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant there is no effective Registration Statement registration statement registering, or no current prospectus available for, for the resale of the Warrant Shares by the HolderHolder on file with the Commission prior to the 90 day anniversary of the Initial Issuance Date, then this Warrant may also shall be exercised at the Holder’s election, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at During any time after one year from the date of issuance of this Warrant February 1, 2012 that there is no not an effective Registration Statement registering, or no registration statement and current prospectus available for, covering the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date completion of issuance of this Warrant the applicable holding period required by Rule 144, or any successor provision then in effect, there is no effective Registration Statement registration statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If If, but only if, at any time after one year from the date of issuance of this Warrant there is no effective Registration Statement registering, or no current prospectus available for, registering the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “" cashless exercise” " in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date completion of issuance of this Warrant the then-applicable holding period required by Rule 144, or any successor provision then in effect, there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date six (6) month anniversary of issuance of this Warrant the Issue Date, there is no effective Registration Statement registering, or no current prospectus available for, registering the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time exercised, in whole or in part, by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate (unless electronic delivery is available) for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year 180 days from the date of issuance of this Warrant Closing there is no effective Registration Statement registeringregistering pursuant to the Registration Rights Agreement entered into by the Company and the Holder, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If If, at any time after one year nine (9) months from the date of issuance of this Warrant Initial Exercise Date, there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. (A) If at any time after one year from the six month anniversary of the date of issuance of this Warrant the Purchase Agreement there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “"cashless exercise” " in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] ) by (A), where:

Cashless Exercise. If at any time after one year from following the date of issuance of this Warrant which is six months after the Issuance Date ((“Registration Deadline”), there is no effective Registration Statement registration statement registering, or no current prospectus available for, the resale of the Warrant Shares by the HolderHolder (a “Registration Default”), then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time If, following the period commencing ninety (90) days after one year from the date of issuance of this Warrant Issue Date, there is no effective Registration Statement registration statement registering, or no current the prospectus contained therein is not available for, for the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant the Purchase Agreement, there is no effective Registration Statement registration statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one (1) year from the date of issuance of this Warrant there (i) is no effective Registration Statement registeringregistering the Warrant Shares in the name of the Holder, or (ii) no current prospectus available for, for the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If If, and only if, at any time after one year from the date of issuance of this Warrant there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “"cashless exercise” " in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after the date which is one year from following the date of issuance of this Warrant Closing Date there is no not an effective Registration Statement registering, or no registration statement and current prospectus available for, covering the resale of the Warrant Shares by the HolderHolder under the Securities Act, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date ----------------- of issuance of this Warrant there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “"cashless exercise” " in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant April 30, 2016, there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant original Issue Date, there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time time, after one year from the date of issuance of this Warrant April 18, 2022, if there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year six months from the date of original issuance of this Warrant there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the HolderHolder (a “Cashless Exercise Trigger”), then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If If, ninety (90) days following the Issue Date, at any the time after one year from the date of issuance of this Warrant exercise hereof there is no effective Registration Statement registration statement registering, or no current the prospectus contained therein is not available for, for the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year least 6 months has passed from the date of issuance of this Warrant and there is no effective Registration Statement registration statement registering, or no current the prospectus contained therein is not available for, for the resale issuance of the Warrant Shares by to the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant there is no effective Registration Statement registration statement under the Securities Act registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant Issuance Date there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to tender Warrants for cancellation and in return receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from six (6) months after the date of issuance of this Warrant the Purchase Agreement there is no effective Registration Statement registration statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year 6 months from the date of issuance of this Warrant Issue Date, there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at Notwithstanding any time after provisions herein to the contrary and commencing one year from following the date of issuance of this Warrant original issue date, if there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the first anniversary of the date of issuance of this Warrant until its Expiry Time there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant hereof, there is no effective Registration Statement registration statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant Closing there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time only as to such Warrant Shares that are not registered in an effective Registration Statement by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant hereof, there is no effective Registration Statement registration statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also only be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant Initial Exercise Date there is no effective Registration Statement registering, or no current prospectus available for, and exemption from registration under Rule 144 would not then be available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any the time after one year from the date of issuance of this Warrant exercise hereof there is no effective Registration Statement registration statement registering, or no current the prospectus contained therein is not available for, for the resale of the Warrant Shares by the HolderHolder for a period in excess of fifteen (15) consecutive trading days, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant then-applicable holding period under Rule 144 there is no effective Registration Statement registering, or no current prospectus available for, the issuance or resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “"cashless exercise” " in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from a date that is six months after the date of issuance of this Warrant the Purchase Agreement, there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If If, but only if, at any time after one year from the date of issuance of this Warrant there is no effective Registration Statement registering, or no current prospectus available for, registering the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year six months from the issuance date of issuance of this Warrant there is no effective Registration Statement registeringWarrant, or no current prospectus available for, a registration statement registering the resale of the Warrant Shares by the Holderis not then effective, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year six months from the date of issuance of this Warrant Issue Date, there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from From the date of issuance of this Warrant Initial Exercise Date until the Termination Date, if there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after the one year from anniversary of the date of issuance of this Warrant the Purchase Agreement there is no effective Registration Statement registration statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If If, at any time after one year from the date of issuance of this Warrant Warrant, there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the HolderHolder (as required by the Registration Rights Agreement), then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant there is no effective Registration Statement registering, or no current prospectus available for, registering the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall will be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant hereof, there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant Initial Exercise Date there is no effective Registration Statement registration statement under the Securities Act of 1933 (the “Securities Act”) registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the 17 month anniversary of the date of issuance of this Warrant hereof, there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after the one year from anniversary of the date of issuance of this Warrant Issue Date, there is no effective Registration Statement registration statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (XB)*(X)] by (A), where:

Cashless Exercise. If at any time after one year from the twelve month anniversary of the date of issuance of this Warrant the Purchase Agreement, there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant Effectiveness Date (as defined in the Registration Rights Agreement), there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant Closing Date there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant Initial Execise Date, there is no effective Registration Statement registration statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date nine-month anniversary of issuance of this Warrant the Issue Date there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant Closing there is no effective Registration Statement registration statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date completion of issuance of this Warrant the then-applicable holding period required by Rule 144, or any successor provision then in effect, there is no effective Registration Statement registration statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year the holding period under Rule 144 of the Securities Act has been satisfied starting from the date of issuance of this Warrant Warrant, there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), wheredetermined as follows:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant there is no effective Registration Statement registration statement under the Securities Act registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then the Holder, at its option, may elect to exercise this Warrant may also be exercised Warrant, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:a

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant the Purchase Agreement, there is no effective Registration Statement registration statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “"cashless exercise” " in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant Effectiveness Date (as defined in the Registration Rights Agreement), there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Tranche B Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Tranche B Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the 15 month anniversary of the date of issuance of this Warrant hereof, there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time on or after one year from the six month anniversary of the issue date of issuance of this Warrant there is no effective Registration Statement registering, or no current prospectus effective and available for, for use by the resale of Holder to resell the Warrant Shares by the Holderimmediately upon exercise of this Warrant, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the 12 month anniversary of the date of issuance of this Warrant the Agreement there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “"cashless exercise” " in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from a date that is three months after the date of issuance of this Warrant the Underwriting Agreement, there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the six month anniversary of the date of issuance of this Warrant the Purchase Agreement there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also only be exercised exercised, in whole or in part, at such time by means of a “"cashless exercise” " in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of issuance of this Warrant Effectiveness Date (as defined in the Registration Rights Agreement), there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares Stock by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of shares of Warrant Shares Stock equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date completion of issuance of this Warrant the then-applicable holding period required by Rule 144, or any successor provision then in effect, there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised exercised, in whole or in part, at such time by means of a “"cashless exercise” " in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from the date of ------------------ issuance of this Warrant there is no effective Registration Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “"cashless exercise” " in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

Cashless Exercise. If at any time after one year from January 1, 2008 during the date of issuance term of this Warrant there is no effective Registration Statement registration statement registering, or no current prospectus available for, the issuance or resale of the Warrant Shares by the Holder, then this Warrant may also be exercised at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where: