Common use of Delivery of Stock Certificates; No Fractional Shares Clause in Contracts

Delivery of Stock Certificates; No Fractional Shares. (a) Within 10 days after the payment of the Purchase Price following the exercise of this Warrant (in whole or in part) or after notice of net issuance exercise and compliance with Section 1.2, the Company at its expense will issue in the name of and deliver to the Holder (i) a certificate or certificates for the number of fully paid and non-assessable shares of Warrant Stock to which the Holder will be entitled on the exercise of this Warrant, and (ii) a new Warrant of like tenor to purchase up to that number of shares of Warrant Stock, if any, as to which this Warrant has not been exercised if this Warrant has not expired. The Holder will for all purposes be deemed to have become the holder of record of the shares of Warrant Stock on the date this Warrant was exercised (the date the Holder has fully complied with the requirements of Section 1.1 or 1.2), irrespective of the date of delivery of the certificate or certificates representing the Warrant Stock; provided that, if the date this Warrant is exercised is a date when the stock transfer books of the Company are closed, a person will be deemed to have become the holder of record of such shares of Warrant Stock at the close of business on the next succeeding date on which the stock transfer books are open. (b) No fractional shares will be issued upon the exercise of this Warrant. In lieu of fractional shares, the Company will pay the Holder a sum in cash equal to the fair market value of the fractional shares (as determined by the Company’s Board of Directors) on the date of exercise such fraction multiplied by the Exercise Price.

Delivery of Stock Certificates; No Fractional Shares. 2.1 Within ten (a10) Within 10 business days after the payment of the Purchase Price following the exercise of this Warrant (in whole or in part) or after notice of net issuance exercise and compliance with Section 1.2), the Company at its expense will shall issue in the name of and deliver to the Holder (ia) a certificate or certificates for the number of fully paid and non-assessable shares of nonassessable Warrant Stock Shares to which the Holder will shall be entitled on the exercise of this Warrantupon such exercise, and (iib) a new Warrant of like tenor to purchase up to that number of shares of Warrant StockShares, if any, as to which this Warrant has not been exercised if this Warrant has not expired. The Holder will shall for all purposes be deemed to have become the holder of record of the shares of such Warrant Stock Shares on the date this Warrant was exercised (the date the Holder has fully complied with the requirements of Section 1.1 or 1.2), irrespective of the date of delivery of the certificate or certificates representing the Warrant StockShares; provided that, if the date this Warrant such exercise is exercised made is a date when the stock transfer books of the Company are closed, a such person will shall be deemed to have become the holder of record of such shares of Warrant Stock Shares at the close of business on the next succeeding date on which the stock transfer books are open. (b) 2.2 No fractional shares will shall be issued upon the exercise of this Warrant. In lieu of fractional shares, the Company will shall pay the Holder a sum in cash equal to the fair market value Daily Price (as defined below) of the fractional shares (as determined by the Company’s Board of Directors) share on the date of exercise such fraction multiplied by the Exercise Priceexercise.

Delivery of Stock Certificates; No Fractional Shares. (a) Within 10 days after the payment of the Purchase Price following the exercise of this Warrant (in whole or in part) or after notice of net issuance exercise and compliance with Section 1.2, the Company at its expense will issue in the name of and deliver to the Holder (i) a certificate or certificates for the number of fully paid and non-assessable nonassessable shares of Warrant Stock to which the Holder will be entitled on the exercise of this Warrant, and (ii) a new Warrant of like tenor to purchase up to that number of shares of Warrant Stock, if any, as to which this Warrant has not been exercised if this Warrant has not expired. The Holder will for all purposes be deemed to have become the holder of record of the shares of Warrant Stock on the date this Warrant was exercised (the date the Holder has fully complied with the requirements of Section 1.1 1. 1 or 1.2), irrespective of the date of delivery of the certificate or certificates representing the Warrant Stock; provided that, if the date this Warrant is exercised is a date when the stock transfer books of the Company are closed, a person will be deemed to have become the holder of record of such shares of Warrant Stock at the close of business on the next succeeding date on which the stock transfer books are open. (b) No fractional shares will be issued upon the exercise of this Warrant. In lieu of fractional shares, the Company will pay the Holder a sum in cash equal to the fair market value of the fractional shares (as determined by the Company’s 's Board of Directors) on the date of exercise such fraction multiplied by the Exercise Price.. -------------------------------------------------------------------------------- page 61

Delivery of Stock Certificates; No Fractional Shares. (a) Within 10 days after the payment of the Purchase Price following the exercise of this Warrant (in whole or in part) or after notice of net issuance exercise and compliance with Section 1.2, the Company at its expense will issue in the name of and deliver to the Holder (i) a certificate or certificates for the number of fully paid and non-assessable shares of Warrant Stock to which the Holder will be entitled on the exercise of this Warrant, and (ii) a new Warrant of like tenor to purchase up to that number of shares of Warrant Stock, if any, as to which this Warrant has not been exercised if this Warrant has not expired. The Holder will for all purposes be deemed to have become the holder of record of the shares of Warrant Stock on the date this Warrant was exercised (the date the Holder has fully complied with the requirements of Section 1.1 or 1.21), irrespective of the date of delivery of the certificate or certificates representing the Warrant Stock; provided that, if the date this Warrant is exercised is a date when the stock transfer books of the Company are closed, a person will be deemed to have become the holder of record of such shares of Warrant Stock at the close of business on the next succeeding date on which the stock transfer books are open. (b) No fractional shares will be issued upon the exercise of this Warrant. In lieu of fractional shares, the Company will pay the Holder a sum in cash equal to the fair market value of the fractional shares (as determined by the Company’s Board of Directors) on the date of exercise such fraction multiplied by the Exercise Price.

Delivery of Stock Certificates; No Fractional Shares. (a) 2.1 Within 10 days after the payment of the Purchase Price following the exercise of this Warrant (in whole or in part) or after notice of net issuance exercise and compliance with Section 1.2, the Company at its expense will shall issue in the name of and deliver to the Holder (ia) a certificate or certificates for the number of fully paid and non-assessable shares of nonassessable Warrant Stock Shares to which the Holder will shall be entitled on the exercise of this Warrantupon such exercise, and (iib) a new Warrant of like tenor to purchase up to that number of shares of Warrant StockShares, if any, as to which this Warrant has not been exercised if this Warrant has not expired. The Holder will shall for all purposes be deemed to have become the holder of record of such Warrant Shares on the shares close of Warrant Stock business on the date this Warrant was exercised (the date the Holder has fully complied with the requirements of Section 1.1 or 1.2), irrespective of the date of delivery of the certificate or certificates representing the Warrant StockShares; provided that, if the date this Warrant such exercise is exercised made is a date when the stock transfer books of the Company are closed, a such person will shall be deemed to have become the holder of record of such shares of Warrant Stock Shares at the close of business on the next succeeding date on which the stock transfer books are open. (b) 2.2 No fractional shares will shall be issued upon the exercise of this Warrant. In lieu of fractional shares, the Company will shall pay the Holder a sum in cash equal to the fair market value Daily Price of the fractional shares (as determined by the Company’s Board of Directors) share on the date of exercise such fraction multiplied by the Exercise Priceexercise.

Delivery of Stock Certificates; No Fractional Shares. (a) 2.1 Within 10 days after the payment of the Purchase Price following the exercise of this Warrant (in whole or in part) or after notice of net issuance exercise and compliance with Section 1.2, the Company at its expense will shall issue in the name of and deliver to the Holder (ia) a certificate or certificates for the number of fully paid and non-assessable shares of nonassessable Warrant Stock Shares to which the Holder will shall be entitled on the exercise of this Warrantupon such exercise, and (iib) a new Warrant of like tenor in substantially the same form to purchase up to that number of shares of Warrant StockShares, if any, as to which this Warrant has not been exercised if this Warrant has not expired. The Holder will shall for all purposes be deemed to have become the holder of record of the shares of such Warrant Stock Shares on the date this Warrant was exercised (the date the Holder has fully complied with the requirements of Section 1.1 or 1.2), irrespective of the date of delivery of the certificate or certificates representing the Warrant StockShares; provided that, if the date this Warrant such exercise is exercised made is a date when the stock transfer books of the Company are closed, a such person will shall be deemed to have become the holder of record of such shares of Warrant Stock Shares at the close of business on the next succeeding date on which the stock transfer books are open. (b) 2.2 No fractional shares will shall be issued upon the exercise of this Warrant. In lieu of fractional shares, the Company will shall pay the Holder a sum in cash equal to the fair market value of the fractional shares (as determined by the Company’s 's Board of Directors) on the date of exercise such fraction multiplied by the Exercise Priceexercise.

Delivery of Stock Certificates; No Fractional Shares. (a) 2.1 Within 10 days after the payment of the Purchase Price following the exercise of this Warrant (in whole or in part) or after notice of net issuance exercise and compliance with Section 1.2, the Company at its expense will shall issue in the name of and deliver to the Holder (ia) a certificate or certificates for the number of fully paid and non-assessable shares of nonassessable Warrant Stock Shares to which the Holder will shall be entitled on the exercise of this Warrantupon such exercise, and (iib) a new Warrant of like tenor in substantially the same form to purchase up to that number of shares of Warrant StockShares, if any, as to which this Warrant has not been exercised if this Warrant has not expired. The Holder will shall for all purposes be deemed to have become the holder of record of the shares of such Warrant Stock Shares on the date this Warrant was exercised (the date the Holder has fully complied with the requirements of Section 1.1 or 1.2), irrespective of the date of delivery of the certificate or certificates representing the Warrant StockShares; provided that, if the date this Warrant such exercise is exercised made is a date when the stock transfer books of the Company are closed, a such person will shall be deemed to have become the holder of record of such shares of Warrant Stock Shares at the close of business on the next succeeding date on which the stock transfer books are open. (b) 2.2 No fractional shares will shall be issued upon the exercise of this Warrant. In lieu of fractional shares, the Company will shall pay the Holder a sum in cash equal to the fair market value of the fractional shares (as determined by the Company’s Board of Directorspursuant to Section 2.1 hereof) on the date of exercise such fraction multiplied by the Exercise Priceexercise.

Delivery of Stock Certificates; No Fractional Shares. (aThe holder of any shares of Series C Preferred Stock or Series D Preferred Stock may exercise the conversion right pursuant to paragraph 5(a) Within 10 days after above respectively by delivering to the payment Corporation during regular business hours at the principal executive offices of the Purchase Price following Corporation the exercise of this Warrant certificate or certificates for the shares to be converted, duly endorsed or assigned either in blank or to the Corporation (in whole or in part) or after if required by it), accompanied by written notice of net issuance exercise stating that such holder elects to convert such shares. Conversion shall be deemed to have been effected on the date when the aforesaid delivery is made, and compliance with Section 1.2such date is referred to herein as the "Conversion Date." As promptly as practicable thereafter, the Company at its expense will Corporation shall issue in the name of and deliver to or upon the Holder (i) written order of such holder, to the place designated by such holder, a certificate or certificates for the number of fully paid and non-assessable full shares of Warrant Common Stock to which such holder is entitled and a check or cash in respect of any fractional interest in a share of Common Stock, as provided below, payable with respect to the Holder will be entitled on the exercise of this Warrant, and (ii) a new Warrant of like tenor to purchase up to that number of shares of Warrant StockSeries C Preferred Stock or Series D Preferred Stock so converted; provided, if anyhowever, as to which this Warrant has not been exercised if this Warrant has not expiredthat in the case of a conversion in connection with liquidation, no such certificates need be issued. The Holder will person in whose name the certificate or certificates for all purposes Common Stock are to be issued shall be deemed to have become the holder stockholder of record in respect of the shares of Warrant such Common Stock on the date this Warrant was exercised (the date the Holder has fully complied with the requirements applicable Conversion Date. Upon conversion of Section 1.1 or 1.2), irrespective only a portion of the date number of delivery shares covered by a certificate representing shares of Series C Preferred Stock or Series D Preferred Stock surrendered for conversion, the Corporation shall issue and deliver to or upon the written order of the holder of the certificate so surrendered for conversion, at the expense of the Corporation, a new certificate covering the number of shares of Series C Preferred Stock or Series D Preferred Stock as appropriate, representing the unconverted portion of the certificate so surrendered. If the new certificate or certificates representing are to be issued to a person who is not the Warrant Stock; provided that, if the date this Warrant is exercised is a date when the stock transfer books registered holder of the Company are closedcertificate delivered for conversion, a person will be deemed to have become the holder of record of such shares of Warrant Stock at the close of business on the next succeeding date on which the stock any transfer books are open. (b) No fractional shares will be issued upon the exercise of this Warrant. In lieu of fractional shares, the Company will pay the Holder a sum in cash equal taxes applicable to the fair market value of the fractional shares (as determined transaction shall be paid by the Company’s Board of Directors) on the date of exercise such fraction multiplied by the Exercise Pricetransferee.