Common use of Exercise by Surrender of Warrant Clause in Contracts

Exercise by Surrender of Warrant. In addition to the method of payment set forth in Section 3.1 and in lieu of any cash payment required thereunder, the Holder(s) shall have the right, at any time and from time to time prior to the Expiration Date, to exercise the Warrants in full or in part by surrendering the Warrant Certificate(s) representing a certain number of additional Warrants as payment of the aggregate Exercise Price for the shares of Class B Common Stock being acquired upon exercise of the Warrants. The Warrants are exercisable pursuant to this Section 3.2 by surrender of the Warrant Certificate(s) with a Form of Election to Purchase duly executed (substantially in the form of Annex B to the Warrant Certificate) and surrender of a certain number of Warrants in addition to those being exercised. The number of additional Warrants to be surrendered in payment of the aggregate Exercise Price for the Warrants being exercised shall be determined by multiplying the number of Warrants to be exercised by the Exercise Price, and then dividing the product thereof by an amount equal to the Market Price (as defined below). Solely for the purposes of this paragraph, Market Price shall be calculated either (i) on the date on which the Form of Election to Purchase attached hereto is deemed to have been sent to the Company pursuant to Section 13 hereof (“Notice Date”) or (ii) as the average of the Market Prices for each of the three (3) trading days preceding the Notice Date, whichever of (i) or (ii) is greater.

Exercise by Surrender of Warrant. In addition to the method of payment set forth in Section 3.1 and in lieu of any cash payment required thereunder, the Holder(s) of the Warrants shall have the right, right at any time and from time to time prior to the Expiration Date, to exercise the Warrants in full or in part by surrendering the Warrant Certificate(s) representing a certain Certificate in the manner specified in Section 3.1 hereof. The number of additional Warrants as payment of the aggregate Exercise Price for the shares of Class B Common Stock being acquired upon exercise of the Warrants. The Warrants are exercisable to be issued pursuant to this Section 3.2 by surrender of the Warrant Certificate(s) with a Form of Election to Purchase duly executed (substantially in the form of Annex B shall be equal to the Warrant Certificatedifference between (a) and surrender of a certain number of Warrants in addition to those being exercised. The number of additional Warrants to be surrendered in payment of the aggregate Exercise Price for the Warrants being exercised shall be determined by multiplying the number of shares of Common Stock in respect of which the Warrants to are exercised and (b) a fraction, the numerator of which shall be number of shares of Common Stock in respect of which the Warrants are exercised multiplied by the Exercise Price, Price and then dividing the product thereof by an amount equal to denominator of which shall be the Market Price (as defined below)in Section 3.3 hereof) of the Common Stock. The number of Redeemable Warrants to be issued pursuant to this Section 3.2 shall be equal to the difference between (a) the number of Redeemable Warrants in respect of which the Warrants are exercised and (b) a fraction, the numerator of which shall be the number of Redeemable Warrants in respect of which the Warrants are exercised multiplied by the Exercise Price and the denominator of which shall be the Market Price (as defined in Section 3.3 hereof) of the Redeemable Warrants. Solely for the purposes of this paragraph, Market Price shall be calculated either (i) on the date on which the Form form of Election to Purchase election attached hereto is deemed to have been sent to the Company pursuant to Section 13 14 hereof (“"Notice Date”") or (ii) as the average of the Market Prices for each of the three (3) five trading days preceding the Notice Date, whichever of (i) or (ii) is greater.

Exercise by Surrender of Warrant. In addition As an alternative to the method of payment set forth in Section 3.1 and in lieu of any cash payment required thereunder, the Holder(s) Holders shall have the right, right at any time and 3 from time to time prior to the Expiration Date, to exercise the Warrants in full or in part by surrendering the Warrant Certificate(s) Certificates representing a certain number of additional Warrants (as determined below) as payment of the aggregate Exercise Price for the shares of Class B Common Stock being acquired upon exercise of the Warrants. The Warrants are exercisable pursuant to this Section 3.2 by surrender of the Warrant Certificate(s) Certificate with a Form of duly executed Election to Purchase duly executed (substantially in the form of Annex B to the Warrant Certificate) and surrender of a certain number of Warrants in addition to those being exercised). The number of additional Warrants to be surrendered in payment of the aggregate Exercise Price for the Warrants shares of Common Stock being exercised acquired upon exercise of the Warrant shall be determined by multiplying the number of Warrants to be exercised by the Exercise Price, and then dividing the product thereof by an amount equal to the Market Price (as defined below)minus the Exercise Price. Solely for the purposes of this paragraphSection 3.2, Market Price shall be calculated either (i) on at the date on which the Form of Election to Purchase attached hereto is deemed to have been sent to the Company pursuant to Section 13 hereof (“the "Notice Date”) or (ii) as the average of the Market Prices for each of the three (3) trading days preceding the Notice Date, whichever of (i) or (ii) is greater").

Exercise by Surrender of Warrant. In addition to the method of -------------------------------- payment set forth in Section 3.1 3.2 and in lieu of any cash payment required thereunder, the Holder(s) Registered Holder shall have the right, right at any time and from time to time prior subject to Section 3.1, and further subject to such Registered Holder having a sufficient number of shares of Common Stock remaining to be purchased under this Representatives' Warrant so as to allow for the Expiration Datepayment as provided for below, to exercise the Warrants this Representatives' Warrant in full whole or in part by surrendering hereof in the Warrant Certificate(s) representing a certain number of additional Warrants manner specified in Section 3.2 as payment of the aggregate Exercise Price for the shares of Class B Common Stock being acquired upon exercise per share of the Warrants. The Warrants are exercisable pursuant to this Section 3.2 by surrender of the Warrant Certificate(s) with a Form of Election to Purchase duly executed (substantially in the form of Annex B to the Warrant Certificate) and surrender of a certain number of Warrants in addition to those being exercisedCommon Stock. The number of additional Warrants to be surrendered in payment of the aggregate Exercise Price of the Common Stock for the Warrants being to be exercised shall be determined by multiplying the number of Warrants to be exercised by the Exercise PricePrice per share of Common Stock, and then dividing the product thereof by an amount equal to the Market Price (as defined below)per share of Common Stock minus the Exercise Price per share of Common Stock. [Solely for the purposes of this paragraphSection 3.3, Market Price shall be calculated either the average of the Market Price for the three (i3) on trading days preceding the date on which the Form form of Election to Purchase Exercise Agreement attached hereto is deemed to have been sent to the Company pursuant to Section 13 15.3 hereof (“"Notice Date”) or (ii) as the average of the Market Prices for each of the three (3) trading days preceding the Notice Date, whichever of (i) or (ii) is greater").]

Exercise by Surrender of Warrant. In addition to the method of payment set forth in Section 3.1 and in lieu of any cash payment required thereunder, the Holder(s) Holders shall have the right, at any time time, and from time to time prior to the Expiration Datetime, to exercise the Warrants in full or in part by surrendering the Warrant Certificate(s) Certificates representing a certain number of additional Warrants as payment of the aggregate Exercise Price for the shares of Class B Common Stock being acquired upon exercise of the Warrants. The Warrants are exercisable pursuant to this Section 3.2 by surrender of the Warrant Certificate(s) Certificate with a Form of duly executed Election to Purchase duly executed (substantially in the form of Annex B to the Warrant Certificate) and surrender of a certain number of Warrants in addition to those being exercised. The number of additional Warrants to be surrendered in payment of the aggregate Exercise Price for the Warrants being exercised shall be determined by multiplying the number of Warrants to be exercised by the Exercise Price, and then dividing the product thereof by an amount equal to the Market Price (as defined below)) minus the Exercise Price. Solely for the purposes of this paragraphSection 3.2, Market Price shall be calculated either (i) on the date on which the Form of Election to Purchase attached hereto (in the form of Annex B to the Warrant Certificate) is deemed to have been sent to the Company pursuant to Section 13 hereof (“"Notice Date”") or (ii) as the average of the Market Prices for each of the three (3) five trading days preceding the Notice Date, whichever of (i) or (ii) is greater.

Exercise by Surrender of Warrant. In addition to the method of payment set forth in Section 3.1 and in lieu of any cash payment required thereunder, the Holder(s) shall have the right, at any time and from time to time prior to the Expiration Date, to exercise the Warrants in full or in part by surrendering the Warrant Certificate(s) representing a certain number of additional Warrants as payment of the aggregate Exercise Price for the shares of Class B Common Stock being acquired upon exercise of the Warrants. The Warrants are exercisable pursuant to this Section 3.2 by surrender of the Warrant Certificate(s) with a Form of Election to Purchase duly executed (substantially in the form of Annex B to the Warrant Certificate) and surrender of a certain number of Warrants in addition to those being exercised. The number of additional Warrants to be surrendered in payment of the aggregate Exercise Price for the Warrants being exercised shall be determined by multiplying the number of Warrants to be exercised by the Exercise Price, and then dividing the product thereof by an amount equal to the Market Price (as defined below). Solely for the purposes of this paragraph, Market Price shall be calculated either (i) on the date on which the Form of Election to Purchase attached hereto is deemed to have been sent to the Company pursuant to Section 13 hereof (“Notice Date”) or (ii) as the average of the Market Prices for each of the three (3) trading days preceding the Notice Date, whichever of (i) or (ii) is greater.

Exercise by Surrender of Warrant. In addition to the method of payment set forth in Section 3.1 and in lieu of any cash payment required thereunder, the Holder(s) of the Warrants shall have the right, right at any time and from time to time prior to the Expiration Date, to exercise the Warrants in full or in part by surrendering the Warrant Certificate(s) representing a certain Certificate in the manner specified in Section 3.1 hereof. The number of additional Warrants as payment of the aggregate Exercise Price for the shares of Class B Common Stock being acquired upon exercise of the Warrants. The Warrants are exercisable to be issued pursuant to this Section 3.2 by surrender of the Warrant Certificate(s) with a Form of Election to Purchase duly executed (substantially in the form of Annex B shall be equal to the Warrant Certificatedifference between (a) and surrender of a certain number of Warrants in addition to those being exercised. The number of additional Warrants to be surrendered in payment of the aggregate Exercise Price for the Warrants being exercised shall be determined by multiplying the number of shares of Common Stock in respect of which the Warrants to are exercised and (b) a fraction, the numerator of which shall be number of shares of Common Stock in respect of which the Warrants are exercised multiplied by the Exercise Price, Price and then dividing the product thereof by an amount equal to denominator of which shall be the Market Price (as defined below)in Section 3.3 hereof) of the Common Stock. The number of Redeemable Warrants to be issued pursuant to this Section 3.2 shall be equal to the difference between (a) the number of Redeemable Warrants in respect of which the Warrants are exercised and (b) a fraction, the numerator of which shall be the number of Redeemable Warrants in respect of which the Warrants are exercised multiplied by the Exercise Price and the denominator of which shall be the Market Price (as defined in Section 3.3 hereof) of the Redeemable Warrants. Solely for the purposes of this paragraph, Market Price shall be calculated either (i) on the date on which the Form form of Election to Purchase election attached hereto is deemed to have been sent to the Company pursuant to Section 13 hereof (“Notice Date”) or (ii) as the average of the Market Prices for each of the three (3) trading days preceding the Notice Date, whichever of (i) or (ii) is greater.have