Common use of Exercise of the Purchase Rights Clause in Contracts

Exercise of the Purchase Rights. Subject to Section 1 above, the purchase rights set forth in this Warrant Agreement are exercisable by the Warrantholder, in whole or in part, at any time or from time to time, prior to the expiration of the term set forth in Section 2 above, by tendering to the Company at its principal office a notice of exercise in the form attached hereto as Exhibit I (the “Notice of Exercise”), duly completed and executed. Upon receipt of the Notice of Exercise and the payment of the purchase price in accordance with the terms set forth below, the Company shall issue to the Warrantholder a certificate for the number of shares of Common Stock purchased and shall execute the Notice of Exercise indicating the number of shares which remain subject to future purchases, if any. The Warrantholder may either (i) exercise all or any portion of the outstanding warrants by paying to the Company, by cash or check, an amount equal to the aggregate Exercise Price of the shares being purchased or (ii) receive shares equal to the value (as determined below) of this Warrant by surrender of the Warrant at the principal office of the Company together with notice of such election in which event the Company shall issue to the Warrantholder a number of shares of Common Stock computed using the following formula: X = Y(A-B) Where: X = The number of shares of Common to be issued to the Warrantholder. Y = The number of shares of Common to be exercised under this Warrant. A = The fair market value of one share of Common.

Exercise of the Purchase Rights. Subject to Section 1 above, the The purchase rights set forth in this Warrant Agreement are exercisable by the Warrantholder, in whole or in part, at any time time, or from time to time, time prior to the expiration of the term set forth in Section 2 above, by tendering to the Company at its principal office a notice of exercise in the form attached hereto as Exhibit I 1 (the “"Notice of Exercise”"), duly completed and executed, along with this Warrant Agreement. Upon Promptly upon receipt of the Notice of Exercise Exercise, this Warrant Agreement and the payment of the purchase price in accordance with the terms set forth below, the Company shall issue to the Warrantholder a certificate for the number of shares of Common Preferred Stock purchased and shall execute the Notice of Exercise indicating the number of shares which remain subject to future purchases, if anypurchased. The Warrantholder Exercise Price may be paid at the Warrantholder's election either (i) exercise all or any portion of the outstanding warrants by paying to the Company, by cash or check, an amount equal to the aggregate Exercise Price of the shares being purchased or (ii) receive forgiveness of the indebtedness under the Subordinated Loan, or (iii) by surrender of the right to purchase such number of shares equal to the in value (as determined below) of this Warrant by surrender to the aggregate exercise price of the Warrant at the principal office of the Company together with notice of such election in which event the Company shall issue to the Warrantholder a number of shares of Common to be purchased by the Warrantholder ("Net Issuance"). If the Warrantholder elects the Net Issuance method, the Company will issue Preferred Stock computed using in accordance with the following formula: X = Y(A-B) ------- A Where: X = The the number of shares of Common Preferred Stock to be issued to the Warrantholder. Y = The the number of shares of Common Preferred Stock requested to be exercised under this WarrantWarrant Agreement. A = The the fair market value of one (1) share of CommonPreferred Stock.

Exercise of the Purchase Rights. Subject to Section 1 above, the The purchase rights set forth in this Warrant Agreement are exercisable by the Warrantholder, in whole or in part, at any time time, or from time to time, prior to the expiration of the term set forth in Section 2 above, by tendering to the Company at its principal office a notice of exercise in the form attached hereto as Exhibit I 1 (the “"Notice of Exercise”"), duly completed and executed, along with this Warrant Agreement. Upon Promptly upon receipt of the Notice of Exercise Exercise, this Warrant Agreement and the payment of the purchase price in accordance with the terms set forth below, the Company shall issue to the Warrantholder a certificate for the number of shares of Common Preferred Stock purchased and shall execute the Notice of Exercise indicating the number of shares which remain subject to future purchases, if anypurchased. The Warrantholder Exercise Price may be paid at the Warrantholder's election either (i) exercise all or any portion of the outstanding warrants by paying to the Company, by cash or check, an amount equal to the aggregate Exercise Price of the shares being purchased or (ii) receive by surrender of the right to purchase such number of shares equal to the in value (as determined below) of this Warrant by surrender to the aggregate exercise price of the Warrant at the principal office of the Company together with notice of such election in which event the Company shall issue to the Warrantholder a number of shares of Common to be purchased by the Warrantholder ("Net Issuance"). If the Warrantholder elects the Net Issuance method, the Company will issue Preferred Stock computed using in accordance with the following formula: X = Y(A-B) ------ A Where: X = The the number of shares of Common Preferred Stock to be issued to the Warrantholder. Y = The the number of shares of Common Preferred Stock requested to be exercised under this WarrantWarrant Agreement. A = The the fair market value of one (1) share of CommonPreferred Stock.

Exercise of the Purchase Rights. Subject to Section 1 above, the The purchase rights set forth in this Warrant Agreement are exercisable by the Warrantholder, in whole or in part, at any time time, or from time to timetime after the issuance and sale of any Series E Preferred Stock by the Company and, prior to the expiration of the term set forth in Section 2 above, by tendering to the Company at its principal office a notice of exercise in the form attached hereto as Exhibit I (the “"Notice of Exercise”"), duly completed and executed. Upon Promptly upon receipt of the Notice of Exercise and the payment of the purchase price in accordance with the terms set forth below, and in no event later than twenty-one (21) days thereafter, the Company shall issue to the Warrantholder a certificate for the number of shares of Common Preferred Stock purchased and shall execute the Notice acknowledgment of Exercise exercise in the form attached hereto as Exhibit II (the "Acknowledgment of Exercise") indicating the number of shares which remain subject to future purchases, if any. The Warrantholder Exercise Price may be paid at the Warrantholder's election either (i) exercise all or any portion of the outstanding warrants by paying to the Company, by cash or check, an amount equal to the aggregate Exercise Price of the shares being purchased or (ii) receive shares equal to the value by surrender of Warrants ("Net Issuance") as determined below) of this Warrant by surrender of . If the Warrant at Warrantholder elects the principal office of Net Issuance method, the Company together will issue Preferred Stock in accordance with notice of such election in which event the Company shall issue to the Warrantholder a number of shares of Common Stock computed using the following formula: X = Y(A-B) ----- A Where: X = The the number of shares of Common Preferred Stock to be issued to the Warrantholder. Y = The the number of shares of Common Preferred Stock requested to be exercised under this WarrantWarrant Agreement. A = The the fair market value of one (1) share of CommonPreferred Stock.

Exercise of the Purchase Rights. Subject to Section 1 above, the The purchase rights set forth in this Warrant Agreement are exercisable by the Warrantholder, in whole or in part, at any time time, or from time to time, prior to the expiration of the term set forth in Section 2 above, by tendering to the Company at its principal office a notice of exercise in the form attached hereto as Exhibit I (the “"Notice of Exercise”"), duly completed and executed, together with the Exercise Price for the portion of the Warrant being exercised. Upon Promptly upon receipt of the Notice of Exercise and the payment of the purchase price in accordance with the terms set forth below, and in no event later than twenty-one (21) days thereafter, the Company shall issue to the Warrantholder a certificate for the number of shares of Common Preferred Stock purchased and shall execute the Notice acknowledgment of Exercise exercise in the form attached hereto as Exhibit II (the "Acknowledgment of Exercise") indicating the number of shares which remain subject to future purchases, if any. The Warrantholder Exercise Price may be paid at the Warrantholder's election either (i) exercise all or any portion of the outstanding warrants by paying to the Company, by cash or check, an amount equal to the aggregate Exercise Price of the shares being purchased or (ii) receive shares equal to the value by surrender of Warrants ("Net Issuance") as determined below) of this Warrant by surrender of . If the Warrant at Warrantholder elects the principal office of Net Issuance method, the Company together will issue Preferred Stock in accordance with notice of such election in which event the Company shall issue to the Warrantholder a number of shares of Common Stock computed using the following formula: X = Y(A-B) Where: X ------ A Y = The the number of shares of Common to be issued to the Warrantholder. Y = The number of shares of Common Preferred Stock requested to be exercised under this WarrantWarrant Agreement. A = The the fair market value of one (1) share of CommonPreferred Stock.

Exercise of the Purchase Rights. Subject to Section 1 above, the The purchase rights set forth in this Warrant Agreement are exercisable by the Warrantholder, in whole or in part, at any time time, or from time to time, prior to the expiration of the term set forth in Section 2 above, by tendering to the Company at its principal office a notice of exercise in the form attached hereto as Exhibit I (the “"Notice of Exercise”"), duly completed and executed, along with this Warrant Agreement. Upon Promptly upon receipt of the Notice of Exercise Exercise, this Warrant Agreement and the payment of the purchase price in accordance with the terms set forth below, the Company shall issue to the Warrantholder a certificate for the number of shares of Common Preferred Stock purchased and shall execute the Notice of Exercise indicating the number of shares which remain subject to future purchases, if anypurchased. The Warrantholder Exercise Price may be paid at the Warrantholder's election either (i) exercise all or any portion of the outstanding warrants by paying to the Company, by cash or check, an amount equal to the aggregate Exercise Price of the shares being purchased or (ii) receive by surrender of the right to purchase such number of shares equal to the in value (as determined below) of this Warrant by surrender to the aggregate exercise price of the Warrant at number of shares to be purchased by the principal office of Warrantholder ("Net Issuance"). If the Warrantholder elects the Net Issuance method, the Company together will issue Preferred Stock in accordance with notice of such election in which event the Company shall issue to following formula: Where: X = the Warrantholder a number of shares of Common Preferred Stock computed using the following formula: X = Y(A-B) Where: X = The number of shares of Common to be issued to the Warrantholder. Y = The the number of shares of Common Preferred Stock requested to be exercised under this WarrantWarrant Agreement. A = The the fair market value of one (1) share of CommonPreferred Stock.

Exercise of the Purchase Rights. Subject to Section 1 above, the The purchase rights set forth in this Warrant Agreement are exercisable by the Warrantholder, in whole or in part, at any time time, or from time to time, prior to the expiration of the term set forth in Section 2 above, by tendering to the Company at its principal office a notice of exercise in the form attached hereto as Exhibit I (the “"Notice of Exercise”"), duly completed and executed, along with this Warrant Agreement. Upon Promptly upon receipt of the Notice of Exercise Exercise, this Warrant Agreement and the payment of the purchase price in accordance with the terms set forth below, the Company shall issue to the Warrantholder a certificate for the number of shares of Common Preferred Stock purchased and shall execute the Notice of Exercise indicating the number of shares which remain subject to future purchases, if anypurchased. The Warrantholder Exercise Price may be paid at the Warrantholder's election either (i) exercise all or any portion of the outstanding warrants by paying to the Company, by cash or check, an amount equal to the aggregate Exercise Price of the shares being purchased or (ii) receive by surrender of the right to purchase such number of shares equal to the in value (as determined below) of this Warrant by surrender to the aggregate exercise price of the Warrant at the principal office of the Company together with notice of such election in which event the Company shall issue to the Warrantholder a number of shares of Common to be purchased by the Warrantholder ("Net Issuance"). If the Warrantholder elects the Net Issuance method, the Company will issue Preferred Stock computed using in accordance with the following formula: X = Y(A-B) ------ A Where: X = The X= the number of shares of Common Preferred Stock to be issued to the Warrantholder. Y = The Y= the number of shares of Common Preferred Stock requested to be exercised under this WarrantWarrant Agreement. A = The A= the fair market value of one (1) share of CommonPreferred Stock.

Exercise of the Purchase Rights. Subject to Section 1 above, the The purchase rights set forth in this Warrant Agreement are exercisable by the Warrantholder, in whole or in part, at any time time, or from time to time, prior to the expiration of the term set forth in Section 2 above, by tendering to the Company at its principal office a notice of exercise in the form attached hereto as Exhibit I 1 (the “"Notice of Exercise”"), duly completed and executed, along with this Warrant Agreement. Upon Promptly upon receipt of the Notice of Exercise Exercise, this Warrant Agreement and the payment of the purchase price in accordance with the terms set forth below, the Company shall issue to the Warrantholder a certificate for the number of shares of Common Preferred Stock purchased and shall execute the Notice of Exercise indicating the number of shares which remain subject to future purchases, if anypurchased. The Warrantholder Exercise Price may be paid at the Warrantholder's election either (i) exercise all or any portion of the outstanding warrants by paying to the Company, by cash or check, an amount equal to the aggregate Exercise Price of the shares being purchased or (ii) receive by surrender of the right to purchase such number of shares equal to the in value (as determined below) of this Warrant by surrender to the aggregate exercise price of the Warrant at the principal office of the Company together with notice of such election in which event the Company shall issue to the Warrantholder a number of shares of Common to be purchased by the Warrantholder ("Net Issuance"). If the Warrantholder elects the Net issuance method, the Company will issue Preferred Stock computed using in accordance with the following formula: X = Y(A-B) ------- A Where: X = The the number of shares of Common Preferred Stock to be issued to the Warrantholder. Y = The the number of shares of Common Preferred Stock requested to be exercised under this WarrantWarrant Agreement. A = The the fair market value of one (1) share of CommonPreferred Stock.

Exercise of the Purchase Rights. Subject to Section 1 above, the The purchase rights set forth in this Warrant Agreement are exercisable by the Warrantholder, in whole or in part, at any time time, or from time to time, prior to the expiration of the term set forth in Section 2 above, by tendering to the Company at its principal office a notice of exercise in the form attached hereto as Exhibit I 1 (the “"Notice of Exercise”"), duly completed and executed, along with this Warrant Agreement. Upon Promptly upon receipt of the Notice of Exercise Exercise, this Warrant Agreement and the payment of the purchase price in accordance with the terms set forth below, the Company shall issue to the Warrantholder a certificate for the number of shares of Common Preferred Stock purchased and shall execute the Notice of Exercise indicating the number of shares which remain subject to future purchases, if anypurchased. The Warrantholder Exercise Price may be paid at the Warrantholder's election either (i) exercise all or any portion of the outstanding warrants by paying to the Company, by cash or check, an amount equal to the aggregate Exercise Price of the shares being purchased or (ii) receive by surrender of the right to purchase such number of shares equal to the in value (as determined below) of this Warrant by surrender to the aggregate exercise price of the Warrant at the principal office of the Company together with notice of such election in which event the Company shall issue to the Warrantholder a number of shares of Common to be purchased by the Warrantholder ("Net Issuance"). If the Warrantholder elects the Net Issuance method, the Company will issue Preferred Stock computed using in accordance with the following formula: X = Y(A-B) Where: ------ A Where X = The the number of shares of Common Preferred Stock to be issued to the Warrantholder. Y = The the number of shares of Common Preferred Stock requested to be exercised under this WarrantWarrant Agreement. A = The the fair market value of one (1) share of CommonPreferred Stock.

Exercise of the Purchase Rights. Subject to Section 1 above, the The purchase rights set forth in this Warrant Agreement are exercisable by the Warrantholder, in whole or in part, at any time time, or from time to time, prior to the expiration of the term set forth in Section 2 above, by tendering to the Company at its principal office a notice of exercise in the form attached hereto as Exhibit I (the “"Notice of Exercise”"), duly completed and executed. Upon Promptly upon receipt of the Notice of Exercise and the payment of the purchase price in accordance with the terms set forth below, and in no event later than twenty-one (21) days thereafter, the Company shall issue to the Warrantholder a certificate for the number of shares of Common Preferred Stock purchased and shall execute the Notice of Exercise indicating the number of shares which remain subject to future purchases, if anypurchased. The Warrantholder Exercise Price may be paid at the Warrantholder's election either (i) exercise all or any portion of the outstanding warrants by paying to the Company, by cash or check, an amount equal to the aggregate Exercise Price of the shares being purchased or (ii) receive shares equal to the value by surrender of Warrants ("Net Issuance") as determined below) of this Warrant by surrender of . If the Warrant at Warrantholder elects the principal office of Net Issuance method, the Company together will issue Preferred Stock in accordance with notice of such election in which event the Company shall issue to the Warrantholder a number of shares of Common Stock computed using the following formula: X = Y(A-B) ------ A Where: X = The the number of shares of Common Preferred Stock to be issued to the Warrantholder. Y = The the number of shares of Common Preferred Stock requested to be exercised under this WarrantWarrant Agreement. A = The the fair market value of one (1) share of CommonPreferred stock.

Exercise of the Purchase Rights. Subject to Section 1 above, the The purchase rights set forth in this Warrant Agreement are exercisable by the Warrantholder, in whole or in part, at any time time, or from time to time, prior to the expiration of the term set forth in Section 2 above, by tendering to the Company at its principal office this Warrant Agreement with a notice of exercise in the form attached hereto as Exhibit I (the “"Notice of Exercise”"), duly completed and executed. Upon Promptly upon receipt of this Warrant Agreement with the Notice of Exercise and the payment of the purchase price in accordance with the terms set forth below, and in no event later than thirty (30) days thereafter, the Company shall issue to the Warrantholder a certificate for the number of shares of Common Preferred Stock purchased and shall execute the Notice acknowledgment of Exercise exercise in the form attached hereto as Exhibit II (the "Acknowledgment of Exercise") indicating the number of shares which remain subject to future purchases, if any. The Warrantholder may Exercise Price shall at the Warrantholder's election be paid to the Company at its principal address either (i) exercise all by cash, wire transfer or any portion of the outstanding warrants by paying to the Company, by cash or certified check, an amount equal to the aggregate Exercise Price of the shares being purchased or (ii) receive shares equal to the value by surrender of Warrants ("Net Issuance") as determined below) of this Warrant by surrender of . If the Warrant at Warrantholder elects the principal office of Net Issuance method, the Company together will issue Preferred Stock in accordance with notice of such election in which event the Company shall issue to the Warrantholder a number of shares of Common Stock computed using the following formula: X = Y(A-B) ----- A Where: X = The the number of shares of Common Preferred Stock to be issued to the Warrantholder. Y = The the number of shares of Common Preferred Stock requested to be exercised under this WarrantWarrant Agreement. A = The the fair market value of one (1) share of CommonPreferred Stock (at the date of calculation).

Exercise of the Purchase Rights. Subject to Section 1 above, the The purchase rights set forth in this Warrant Agreement are exercisable by the Warrantholder, in whole or in part, at any time time, or from time to time, prior to the expiration of the term set forth in Section 2 above, by tendering to the Company at its principal office this Warrant Agreement with a notice of exercise in the form attached hereto as Exhibit I (the “"Notice of Exercise”"), duly completed and executed. Upon Promptly upon receipt of this Warrant Agreement with the Notice of Exercise and the payment of the purchase price in accordance with the terms set forth below, and in no event later than thirty (30) days thereafter, the Company shall issue to the Warrantholder a certificate for the number of shares of Common Preferred Stock purchased and shall execute the Notice acknowledgment of Exercise exercise in the form attached hereto as Exhibit II (the "Acknowledgment of Exercise") indicating the number of shares which remain subject to future purchases, if any. The Warrantholder may Exercise Price shall at the Warrantholders election be paid to the Company at its principal address either (i) exercise all by cash, wire transfer or any portion of the outstanding warrants by paying to the Company, by cash or certified check, an amount equal to the aggregate Exercise Price of the shares being purchased or (ii) receive shares equal to the value by surrender of Warrants ("Net Issuance") as determined below) of this Warrant by surrender of . If the Warrant at Warrantholder elects the principal office of Net Issuance method, the Company together will issue Preferred Stock in accordance with notice of such election in which event the Company shall issue to the Warrantholder a number of shares of Common Stock computed using the following formula: X = Y(A-B) ------ A Where: X = The the number of shares of Common Preferred Stock to be issued to the Warrantholder. Y = The the number of shares of Common Preferred Stock requested to be exercised under this WarrantWarrant Agreement. A = The the fair market value of one (1) share of CommonPreferred Stock (at the date of calculation).

Exercise of the Purchase Rights. Subject to Section 1 above, the The purchase rights set forth in this Warrant Agreement are exercisable by the Warrantholder, in whole or in part, at any time time, or from time to time, commencing one year from the Effective Date and thereafter prior to the expiration of the term set forth in Section 2 above, by tendering to the Company Company, at its principal office office, a notice of exercise in the form attached hereto as Exhibit I (the “"Notice of Exercise”"), duly completed and executed. Upon Promptly upon receipt of the Notice of Exercise and the payment of the purchase price in accordance with the terms set forth below, and in no event later than twenty-one (21) days thereafter, the Company shall issue to the Warrantholder a certificate for the number of shares of Common Stock purchased and shall execute the Notice acknowledgment of Exercise exercise in the form attached hereto as Exhibit II (the "Acknowledgment of Exercise") indicating the number of shares which remain subject to future purchases, if any. The Warrantholder Exercise Price may be paid at the Warrantholder's election either (i) exercise all or any portion of the outstanding warrants by paying to the Company, by cash or check, an amount equal to the aggregate Exercise Price of the shares being purchased or (ii) receive shares equal to the value by surrender of Warrants ("Net Issuance") as determined below) of this Warrant by surrender of . If the Warrant at Warrantholder elects the principal office of Net Issuance method, the Company together with notice of such election in which event the Company shall will issue to the Warrantholder a number of shares of Common Stock computed using in accordance with the following formula: X = Y(A-B) ------ A Where: X = The the number of shares of Common Stock to be issued to the Warrantholder. Y = The the number of shares of Common Stock requested to be exercised under this WarrantWarrant Agreement. A = The the fair market value of one (1) share of CommonCommon Stock.

Exercise of the Purchase Rights. Subject to Section 1 above, the The purchase rights set forth in this Warrant Agreement are exercisable by the Warrantholder, in whole or in part, at any time time, or from time to time, prior to the expiration of the term set forth in Section 2 above, by tendering to the Company at its principal office a notice of exercise in the form attached hereto as Exhibit I (the “"Notice of Exercise”"), duly completed and executed. Upon Promptly upon receipt of the Notice of Exercise and the payment of the purchase price in accordance with the terms set forth below, and in no event later than twenty-one (21) days thereafter, the Company shall issue to the Warrantholder a certificate for the number of shares of Common Preferred Stock purchased and shall execute the Notice of Exercise indicating the number of shares which remain subject to future purchases, if anypurchased. The Warrantholder Exercise Price may be paid at the Warrantholder's election either (i) exercise all or any portion of the outstanding warrants by paying to the Company, by cash or check, an amount equal to the aggregate Exercise Price of the shares being purchased or (ii) receive shares equal to the value by surrender of Warrants ("Net Issuance") as determined below) of this Warrant by surrender of . If the Warrant at Warrantholder elects the principal office of Net Issuance method, the Company together will issue Preferred Stock in accordance with notice of such election in which event the Company shall issue to the Warrantholder a number of shares of Common Stock computed using the following formula: X = Y(A-B) ------------ A Where: X = The the number of shares of Common Preferred Stock to be issued to the Warrantholder. Y = The the number of shares of Common Preferred Stock requested to be exercised under this WarrantWarrant Agreement. A = The the fair market value of one (1) share of CommonPreferred Stock.