Common use of EXERCISE AT THE OPTION OF THE COMPANY Clause in Contracts

EXERCISE AT THE OPTION OF THE COMPANY. (a) The Company shall have the right and option (the "Company Option to Force Exercise") on any Trading Day (as defined below) (the "Forced Exercise Date") on which, and for a period of twenty consecutive Trading Days prior thereto, the average of the FMV (as defined below) for such period is at least $15.00 (subject to appropriate adjustment for stock splits, stock dividends and similar transactions), to cause the Registered Holder to exercise this Warrant in full, and upon exercise of such Company Option to Force Exercise by the Company, the exercise of this Warrant in full by the Registered Holder shall be deemed to have been effected immediately prior to the close of business on the Forced Exercise Date. At such time, the person or persons in whose name or names any certificates for Warrant Shares shall be issuable upon such exercise as provided in subsection 1(d) above shall be deemed to have become the holder or holders of record of the Warrant Shares represented by such certificates. To exercise the Company Option to Exercise, the Company must deliver to the Registered Holder at its principal offices, within 3 days after the Forced Exercise Date, a written notice of exercise of the Company Option to Force Exercise (the "Forced Exercise Notice"). Promptly upon receipt of such Forced Exercise Notice, the Registered Holder shall elect to exercise the Warrant either for cash as set forth in Section 1(a) or pursuant to the cashless exercise procedure set forth in Section 1(b) and shall submit the purchase form appended hereto as EXHIBIT I to the Company.

EXERCISE AT THE OPTION OF THE COMPANY. (a) The Company shall have the right and option (the "Company Option to Force Exercise") on any Trading Day (as defined below) (the "Forced Exercise Date") on which, and for a period of twenty consecutive Trading Days prior thereto, the average of the FMV (as defined below) for such period is at least $15.00 18.00 (subject to appropriate adjustment for stock splits, stock dividends and similar transactions), to cause the Registered Holder to exercise this Warrant in full, and upon exercise of such Company Option to Force Exercise by the Company, the exercise of this Warrant in full by the Registered Holder shall be deemed to have been effected immediately prior to the close of business on the Forced Exercise Date. At such time, the person or persons in whose name or names any certificates for Warrant Shares shall be issuable upon such exercise as provided in subsection 1(d) above shall be deemed to have become the holder or holders of record of the Warrant Shares represented by such certificates. To exercise the Company Option to Exercise, the Company must deliver to the Registered Holder at its principal offices, within 3 days after the Forced Exercise Date, a written notice of exercise of the Company Option to Force Exercise (the "Forced Exercise Notice"). Promptly upon receipt of such Forced Exercise Notice, the Registered Holder shall elect to exercise the Warrant either for cash as set forth in Section 1(a) or pursuant to the cashless exercise procedure set forth in Section 1(b) and shall submit the purchase form appended hereto as EXHIBIT I to the Company.