Date; Duration; Automatic Exercise Clause Samples

Date; Duration; Automatic Exercise. (a) The issue date of this Warrant is [ , 2005] (the “Warrant Date”). (b) This Warrant, in all events, shall be wholly void and of no effect at 5:00 pm Pacific Time on the Expiration Date. (c) If as of the Expiration Date, all or part of this Warrant has not been exercised by the holder, and (i) the Trading Price of one share of Common Stock is, as of the exercise date, greater than the Exercise Price and (ii) the condition set forth in Section 2(d) can be satisfied, this Warrant shall be deemed automatically exercised pursuant to the holder’s Net Exercise Right without any further action by the holder (an “Automatic Exercise”). No later than the third Business day after the Expiration Date the Company shall deliver to the holder a stock certificate or stock certificates for the number of fully paid and non assessable shares of Common Stock, if any, issuable pursuant to an Automatic Exercise.