Exchange of Old Preferred Shares and Old Warrants Sample Clauses

Exchange of Old Preferred Shares and Old Warrants. Subject to ------------------------------------------------- satisfaction (or waiver) of the conditions set forth in Sections 8(a) and 9(a), the Company shall issue to each Investor, and each Investor severally agrees to exchange (the "Initial Closing") (I) that number of Old Preferred Shares set forth opposite its name under the heading "Number of Old Preferred Shares Exchanged" on the Schedule of Investors and all of such Investors outstanding --------------------- Old Warrants for (II) that number of Exchange Preferred Shares set forth opposite its name under the heading "Number of Exchange Preferred Shares" on the Schedule of Investors. The date of the Initial Closing (the "Initial Closing --------------------- Date") shall be November 10, 2000 or such earlier or later date as the Company and each Investor may agree.