Common use of Exercise Disputes Clause in Contracts

Exercise Disputes. In the case of any dispute with respect to an exercise of this Warrant, the Corporation shall promptly issue such number of shares of Common Stock as are not disputed in accordance with subparagraph (i) above. The Corporation and the Holder shall seek to resolve any such dispute in good faith. If such dispute involves the calculation of the Exercise Price, the Corporation shall immediately submit the disputed calculations to KPMG Peat Marwick or such other independent outside accountant of national reputation selected by the Company via facsimile within two (2) business days of receipt of the Notice of Exercise. The accountant, at the Corporation's sole expense (except that if the Corporation's calculation is correct, the Holder shall bear such expense), shall audit the calculations and notify the Corporation and Holder of the results no later than two (2) business days from the date it receives the disputed calculations. The accountant's calculation shall be deemed conclusive, absent manifest error. The Corporation shall then issue the appropriate number of shares of Common Stock in accordance with subparagraph (i) above.

Appears in 3 contracts

Samples: Securities Purchase Agreement (Netplex Group Inc), Securities Purchase Agreement (Netplex Group Inc), Netplex Group Inc

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Exercise Disputes. In the case of any dispute with respect to an exercise of this Warrant, the Corporation shall promptly issue such number of shares of Common Stock as are not disputed in accordance with subparagraph (i) above. The Corporation and the Holder shall seek to resolve any such dispute in good faith. If such dispute involves the calculation of the Exercise Price, the Corporation shall immediately submit the disputed calculations to KPMG Peat Marwick Deloitte & Touche LLP or such other independent outside accountant of national reputation selected by the Company Corporation and reasonably acceptable to the Holder, via facsimile within two (2) business days of receipt of the Notice of Exercise. The accountant, at the Corporation's sole expense (except that if the Corporation's calculation is correct, the Holder shall bear such expense), shall audit the calculations and notify the Corporation and Holder of the results no later than two (2) business days from the date it receives the disputed calculations. The accountant's calculation shall be deemed conclusive, absent manifest error. The Corporation shall then issue the appropriate number of shares of Common Stock in accordance with subparagraph (i) above.

Appears in 2 contracts

Samples: Robotic Vision Systems Inc, Robotic Vision Systems Inc

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