Common use of Exercise by the Holder Clause in Contracts

Exercise by the Holder. (i) Subject to the limitations on exercise contained in Paragraph C of this Article II, the Holder may, at any time and from time to time, exercise all or any part of the outstanding Prepaid Amount of this Warrant in accordance with the procedures set forth in Paragraph B of this Article II for a number of fully paid and nonassessable shares of Common Stock determined in accordance with the following formula if the Corporation timely redeems the Premium thereon in cash in accordance with subparagraph (ii) below: EXERCISE AMOUNT --------------- EXERCISE PRICE or in accordance with the following formula if the Corporation does not timely redeem the Premium thereon in accordance with subparagraph (ii) below: EXERCISE AMOUNT + THE PREMIUM ----------------------------- EXERCISE PRICE (a) Subject to subparagraph (b) of this Article II.A(ii), the Corporation shall have the right, in its sole discretion, upon receipt of a Notice of Exercise, to redeem the Premium subject to such conversion for a sum of cash equal to the amount of the Premium being so redeemed. All cash redemption payments hereunder shall be paid in lawful money of the United States of America at such address for the Holder as appears on the record books of the Corporation (or at such other address as such Holder shall hereafter give to the Corporation by written notice). In the event the Corporation so elects to redeem the Premium in cash and fails to pay such holder the applicable redemption amount to which such holder is entitled within four (4) business days of receipt by the Corporation of a Notice of Exercise, the Corporation shall thereafter forfeit its right to redeem such Premium in cash and such Premium shall thereafter be converted into shares of Common Stock in accordance with Article II.A(i). (b) The Corporation shall provide not less than two (2) business days advance notice, in writing, to the holders stating that it will elect to redeem the Premium, relating to any Exercise Amount covered by a Notice of Exercise received by the Corporation after such second business day, in cash pursuant to the Corporation's redemption rights discussed in subparagraph (a) of this Article II.A(ii) in connection with an exercise pursuant to a Notice of Exercise delivered over the ten (10) business day period beginning on the third (3rd) business day after the Holder's receipt of such notice, which election shall be binding and irrevocable for such period. If the Corporation does not provide such notice, the Corporation shall forfeit its right to redeem such Premium in accordance with subparagraph (a) of this Article II.A(ii) for any such period and shall be required to issue shares of Common Stock as payment of Premium.

Exercise by the Holder. (i) Subject to the limitations on exercise contained in Paragraph C of this Article II, the Holder may, at any time and from time to timetime on or after that date which is the earlier of (a) the first date after the Issuance Date on which an Event of Default (as defined in Article VI) occurs or there is a public announcement of a pending or consummated corporate change (as defined in Article VII) and (b) one-hundred eighty (180) days after the Issuance Date, exercise all or any part of the outstanding Prepaid Amount of this Warrant in accordance with the procedures set forth in Paragraph B of this Article II for a number of fully paid and nonassessable shares of Common Stock determined in accordance with the following formula if the Corporation timely redeems the Premium thereon in cash in accordance with subparagraph (ii) below: EXERCISE AMOUNT --------------- EXERCISE PRICE or in accordance with the following formula if the Corporation does not timely redeem the Premium thereon in accordance with subparagraph (ii) below: EXERCISE AMOUNT + THE PREMIUM ----------------------------- EXERCISE PRICE (a) Subject to subparagraph (b) of this Article II.A(ii), the Corporation shall have the right, in its sole discretion, upon receipt of a Notice of Exercise, to redeem the Premium subject to such conversion for a sum of cash equal to the amount of the Premium being so redeemed. All cash redemption payments hereunder shall be paid in lawful money of the United States of America at such address for the Holder holder as appears on the record books of the Corporation (or at such other address as such Holder holder shall hereafter give to the Corporation by written notice). In the event the Corporation so elects to redeem the Premium in cash and fails to pay such holder the applicable redemption amount to which such holder is entitled within four (4) business days of receipt by the Corporation of a Notice of ExerciseExercise (in the case of a redemption in connection with an Optional Conversion), the Corporation shall thereafter forfeit its right to redeem such Premium in cash and such Premium shall thereafter be converted into shares of Common Stock in accordance with Article II.A(i). (b) The Corporation shall provide not less than two (2) business days advance notice, in writing, to the holders stating that it will elect to redeem the Premium, relating to any Exercise Amount covered by a Notice of Exercise received by the Corporation after such second business day, in cash pursuant to the Corporation's redemption rights discussed in subparagraph (a) of this Article II.A(ii) in connection with an exercise pursuant to a Notice of Exercise delivered over the ten (10) business day period beginning on the third (3rd) business day after the Holderholder's receipt of such notice, which election shall be binding and irrevocable for such period. If the Corporation does not provide such notice, the Corporation shall forfeit its right to redeem such Premium in accordance with subparagraph (a) of this Article II.A(ii) for any such period and shall be required to issue shares of Common Stock as payment of Premium.

Exercise by the Holder. (i) Subject to the limitations on exercise contained in Paragraph C of this Article II, the Holder may, at any time and from time to time, exercise all or any part of the outstanding Prepaid Amount of this Warrant in accordance with the procedures set forth in Paragraph B of this Article II for a number of fully paid and nonassessable shares of Common Stock determined in accordance with the following formula if the Corporation timely redeems the Premium thereon in cash in accordance with subparagraph (ii) below: EXERCISE AMOUNT Exercise Amount --------------- EXERCISE PRICE Exercise Price -3- or in accordance with the following formula if the Corporation does not timely redeem the Premium thereon in accordance with subparagraph (ii) belowbelow and if the applicable conversion occurs after the 365th day after the Issuance Date: EXERCISE AMOUNT Exercise Amount + THE PREMIUM the Premium ----------------------------- EXERCISE PRICEExercise Price (a) Subject to subparagraph (b) of this Article II.A(ii), the The Corporation shall have the right, in its sole discretion, upon receipt of a Notice of Exercise, to redeem the Premium subject to such conversion for a sum of cash equal to the amount of the Premium being so redeemed. All cash redemption payments hereunder shall be paid in lawful money of the United States of America at such address for the Holder holder as appears on the record books of the Corporation (or at such other address as such Holder holder shall hereafter give to the Corporation by written notice). In the event the Corporation so elects to redeem the Premium in cash and fails to pay such holder the applicable redemption amount to which such holder is entitled by depositing a check in the U.S. Mail to such holder within four (4) business days of receipt by the Corporation of a Notice of ExerciseExercise (in the case of a redemption in connection with an Optional Conversion), the Corporation shall thereafter forfeit its right to redeem such Premium in cash and such Premium shall thereafter be converted into shares of Common Stock in accordance with Article II.A(i). (b) The Each holder of Warrants shall have the right to require the Corporation shall to provide not less than two (2) business days advance notice, in writing, notice to such holder stating whether the holders stating that it Corporation will elect to redeem the Premium, relating to any Exercise Amount covered by a Notice of Exercise received by the Corporation after such second business day, Premium in cash pursuant to the Corporation's redemption rights discussed in subparagraph (a) of this Article II.A(ii). A holder may exercise such right from time to time by sending notice (an "Election Notice") to the Corporation, by facsimile, requesting that the Corporation disclose to such holder whether the Corporation would elect to redeem the Premium for cash in lieu of issuing shares of Common Stock therefor if such holder were to exercise its rights to receive shares of Common Stock pursuant to this Article II. A. The Corporation shall, no later than the close of business on the second business day following receipt of an Election Notice, disclose to such holder whether the Corporation would elect to redeem the Premium in connection with an exercise pursuant to a Notice of Exercise delivered over the subsequent ten (10) business day period beginning on the third (3rd) business day after the Holder's receipt of such notice, which election shall be binding and irrevocable for such period. If the Corporation does not provide respond to such noticeholder within such two business day period via facsimile, the Corporation shall shall, with respect to any exercise pursuant to a Notice of Exercise delivered within the subsequent ten (10) business day period, forfeit its right to redeem such Premium in accordance with subparagraph (a) of this Article II.A(ii) for any such period and shall be required to issue shares of Common Stock as payment of Premium.