Common use of Exercise of Underwriter's Warrant Clause in Contracts

Exercise of Underwriter's Warrant. (a) The Underwriter's Warrant is exercisable during the term set forth in Section 1 hereof payable by certified or cashier's check or money order in lawful money of the United States. Upon surrender of Underwriter's Warrant Certificate with the annexed Form of Election to Purchase duly executed, together with payment of the Purchase Price (as hereinafter defined) for the Underwriter's Securities (and such other amounts, if any, arising pursuant to Section 4 hereof) at the Company's principal office currently located at 0000 Xxxxxxx Xxxxxx Xxxxxxxxx, Xxxxxxxxxxxx, Xxxxxxx 00000, the registered holder of a Underwriter's Warrant Certificate ("Holder" or "Holders") shall be entitled to receive a certificate or certificates for the Underwriter's Securities so purchased. The purchase rights represented by each Underwriter's Warrant Certificate are exercisable at the option of the Holder or Holders thereof, in whole or in part as to Underwriter's Securities. The Underwriter's Warrant may be exercised to purchase all or any part of the Underwriter's Securities represented thereby. In the case of the purchase of less than all the Underwriter's Securities purchasable on the exercise of the Underwriter's Warrant represented by a Underwriter's Warrant Certificate, the Company shall cancel the Underwriter's Warrant Certificate represented thereby upon the surrender thereof and shall execute and deliver a new Underwriter's Warrant Certificate of like tenor for the balance of the Underwriter's Securities purchasable thereunder. (b) In lieu of the payment of cash upon exercise of the Underwriter's Warrant as provided in Section 3(a), the Holder may exercise the Underwriter's Warrant by surrendering the Underwriter's Warrant Certificate at the principal office of the Company, accompanied by a notice stating (i) the Holder's intent to effect such exercise by an exchange, (ii) the number of Units to be issued upon the exchange, (iii) whether Underwriter's Warrants are to be surrendered in connection with the exchange, and (iv) the date on which the Holder requests that such exchange is to occur. The Purchase Price for the Underwriter's Securities to be acquired in the exchange shall be paid by the surrender as indicated in the notice, of Underwriter's Warrants, having a "Value", as defined below, equal to the Purchase Price. "Value" as to each Underwriter's Warrant shall mean the difference between the "Market Price", as hereinafter defined, of one share of Common Stock and one Warrant and the then Purchase Price for a Unit. By way of example of the application of the formula, assume that the Market Price of one share of Common Stock plus one Warrant is $20.00, and the Purchase Price of the Underwriter's Warrant is $15.00. On such assumptions, the Value of each Underwriter's Warrant is $5.00 ($20.00-$15.00) and therefore for each three Underwriter's Warrants surrendered, the Holder could acquire one share of Common Stock and one Warrant in the exchange. Notwithstanding the example, the Holder shall not be limited to exchanging Underwriter's Warrants for Common Stock and Warrants. The Warrant Exchange shall take place on the date specified in the notice or if the date the notice is received by the Company is later than the date specified in the notice, on the date the notice is received by the Company.

Exercise of Underwriter's Warrant. (a) The Underwriter's Underwriters' Warrant is exercisable during the term set forth in Section 1 hereof payable by certified or cashier's check or money order in lawful money of the United States. Upon surrender of Underwriter's Underwriters' Warrant Certificate with the annexed Form of Election to Purchase duly executed, together with payment of the Purchase Price (as hereinafter defined) for the Underwriter's Underwriters' Securities (and such other amounts, if any, arising pursuant to Section 4 hereof) at the Company's principal office currently located at 0000 Xxxxxxx Xxxxxx XxxxxxxxxXxxx, XxxxxxxxxxxxSchenectady, Xxxxxxx 00000, New York 12303 the registered holder of a Underwriter's Underwriters' Warrant Certificate ("Holder" or "Holders") shall be entitled to receive a certificate or certificates for the Underwriter's Underwriters' Securities so purchased. The purchase rights represented by each Underwriter's Underwriters' Warrant Certificate are exercisable at the option of the Holder or Holders thereof, in whole or in part as to Underwriter's Underwriters' Securities. The Underwriter's Underwriters' Warrant may be exercised to purchase all or any part of the Underwriter's Underwriters' Securities represented thereby. In the case of the purchase of less than all the Underwriter's Underwriters' Securities purchasable on the exercise of the Underwriter's Underwriters' Warrant represented by a Underwriter's Underwriters' Warrant Certificate, the Company shall cancel the Underwriter's Underwriters' Warrant Certificate represented thereby upon the surrender thereof and shall execute and deliver a new Underwriter's Underwriters' Warrant Certificate of like tenor for the balance of the Underwriter's Underwriters' Securities purchasable thereunder. (b) In lieu of the payment of cash upon exercise of the Underwriter's Underwriters' Warrant as provided in Section 3(a), the Holder may exercise the Underwriter's Underwriters' Warrant by surrendering the Underwriter's Underwriters' Warrant Certificate at the principal office of the Company, accompanied by a notice stating (i) the Holder's intent to effect such exercise by an exchange, (ii) the number of Units Common Stock to be issued upon the exchange, (iii) whether Underwriter's Underwriters' Warrants are to be surrendered in connection with the exchange, and (iv) the date on which the Holder requests that such exchange is to occur. The Purchase Price for the Underwriter's Underwriters' Securities to be acquired in the exchange shall be paid by the surrender surrender, as indicated in the notice, of Underwriter's Warrants, Underwriters' Warrants having a "Value", as defined below, equal to the Purchase Price. "Value" as to each Underwriter's Underwriters' Warrant shall mean the difference between the "Market Price", as hereinafter defined, of one a share of Common Stock and one Warrant and the then Purchase Price for a Unitshare of Common Stock. By way of example of the application of the formula, assume that the Market Price of one share of the Common Stock plus one Warrant is $20.008.00, and the Purchase Price of the Underwriter's Underwriters' Warrant is $15.006.00. On such assumptions, the Value of each Underwriter's a Underwriters' Warrant is $5.00 2.00 ($20.00-$15.008.00-$6.00) and therefore for each three Underwriter's Underwriters' Warrants surrendered, the Holder could acquire one share of Common Stock and one Warrant in the exchange. Notwithstanding the example, the Holder shall not be limited to exchanging Underwriter's Underwriters' Warrants for Common Stock and WarrantsStock. The Warrant Exchange shall take place on the date specified in the notice or if the date the notice is received by the Company is later than the date specified in the notice, on the date the notice is received by the Company.

Exercise of Underwriter's Warrant. (a) The Underwriter's Warrant is exercisable during the term set forth in Section 1 hereof payable by certified or cashier's check or money order in lawful money of the United States. Upon surrender of Underwriter's Warrant Certificate with the annexed Form of Election to Purchase duly executed, together with payment of the Purchase Price (as hereinafter defined) for the Underwriter's Securities (and such other amounts, if any, arising pursuant to Section 4 hereof) at the Company's principal office currently located at 0000 Xxxxxxx Xxxxxx Xxxxxxxxx100-31 South Jersey Ave., XxxxxxxxxxxxSetauket, Xxxxxxx 00000Xxx Xxxx, the registered holder of a Underwriterxxx xxxxxxxxxx xxxxxx xx x Xxxxxxxiter's Warrant Certificate ("Holder" or "Holders") shall be entitled to receive a certificate or certificates for the Underwriter's Securities so purchased. The purchase rights represented by each Underwriter's Warrant Certificate are exercisable at the option of the Holder or Holders thereof, in whole or in part as to Underwriter's Securities. The Underwriter's Warrant may be exercised to purchase all or any part of the Underwriter's Securities represented thereby. In the case of the purchase of less than all the Underwriter's Securities purchasable on the exercise of the Underwriter's Warrant represented by a Underwriter's Warrant Certificate, the Company shall cancel the Underwriter's Warrant Certificate represented thereby upon the surrender thereof and shall execute and deliver a new Underwriter's Warrant Certificate of like tenor for the balance of the Underwriter's Securities purchasable thereunder. (b) In lieu of the payment of cash upon exercise of the Underwriter's Warrant as provided in Section 3(a), the Holder may exercise the Underwriter's Warrant by surrendering the Underwriter's Warrant Certificate at the principal office of the Company, accompanied by a notice stating (i) the Holder's intent to effect such exercise by an exchange, (ii) the number of Units Common Stock to be issued upon the exchange, (iii) whether Underwriter's Warrants are to be surrendered in connection with the exchange, and (iv) the date on which the Holder requests that such exchange is to occur. The Purchase Price for the Underwriter's Securities to be acquired in the exchange shall be paid by the surrender as indicated in the notice, of Underwriter's Warrants, having a "Value", as defined below, equal to the Purchase Price. "Value" as to each Underwriter's Warrant shall mean the difference between the "Market Price", as hereinafter defined, of one a share of Common Stock and one Warrant and the then Purchase Price for a Unitshare of Common Stock. By way of example of the application of the formula, assume that the Market Price of one share of the Common Stock plus one Warrant is $20.008.00, and the Purchase Price of the Underwriter's Warrant is $15.006.00. On such assumptions, the Value of each a Underwriter's Warrant is $5.00 2.00 ($20.00-$15.008.00-$6.00) and therefore for each three Underwriter's Warrants surrendered, the Holder could acquire one share of Common Stock and one Warrant in the exchange. Notwithstanding the example, the Holder shall not be limited to exchanging Underwriter's Warrants for Common Stock and WarrantsStock. The Warrant Exchange shall take place on the date specified in the notice or if the date the notice is received by the Company is later than the date specified in the notice, on the date the notice is received by the Company.

Exercise of Underwriter's Warrant. (a) The Underwriter's Warrant is exercisable during the term set forth in Section 1 hereof payable by certified or cashier's check or money order in lawful money of the United States. Upon surrender of Underwriter's Underwriters' Warrant Certificate with the annexed Form of Election to Purchase duly executed, together with payment of the Purchase Price (as hereinafter defined) for the Underwriter's Securities (and such other amounts, if any, arising pursuant to Section 4 hereof) at the Company's principal office currently located at 0000 Xxxxxxx 000xx Xxxxxx XxxxxxxxxXxxxx Xxxxx 000, XxxxxxxxxxxxXxxxx, Xxxxxxx 00000, 00000 the registered holder of a Underwriter's Warrant Certificate ("Holder" or "Holders") shall be entitled to receive a certificate or certificates for the Underwriter's Securities so purchased. The purchase rights represented by each Underwriter's Warrant Certificate are exercisable at the option of the Holder or Holders thereof, in whole or in part as to Underwriter's Securities. The Underwriter's Warrant may be exercised to purchase all or any part of the Underwriter's Securities represented thereby. In the case of the purchase of less than all the Underwriter's Underwriters' Securities purchasable on the exercise of the Underwriter's Underwriters' Warrant represented by a Underwriter's Underwriters' Warrant Certificate, the Company shall cancel the Underwriter's Underwriters' Warrant Certificate represented thereby upon the surrender thereof and shall execute and deliver a new Underwriter's Underwriters' Warrant Certificate of like tenor for the balance of the Underwriter's Underwriters' Securities purchasable thereunder. (b) In lieu of the payment of cash upon exercise of the Underwriter's Underwriters' Warrant as provided in Section 3(a), the Holder may exercise the Underwriter's Underwriters' Warrant by surrendering the Underwriter's Underwriters' Warrant Certificate at the principal office of the Company, accompanied by a notice stating (i) the Holder's intent to effect such exercise by an exchange, (ii) the number of Units Common Stock to be issued upon the exchange, (iii) whether Underwriter's Underwriters' Warrants are to be surrendered in connection with the exchange, and (iv) the date on which the Holder requests that such exchange is to occur. The Purchase Price for the Underwriter's Underwriters' Securities to be acquired in the exchange shall be paid by the surrender as indicated in the notice, of Underwriter's Underwriters' Warrants, having a "Value", as defined below, equal to the Purchase Price. "Value" as to each Underwriter's Underwriters' Warrant shall mean the difference between the "Market Price", as hereinafter defined, of one a share of Common Stock and one a Public Warrant and the then Purchase Price for a Unit. By way of example of the application of the formula, assume that the Market Price of one share of Common Stock plus one Warrant is $20.00, and the Purchase Price of the Underwriter's Warrant is $15.00. On such assumptions, the Value of each Underwriter's Warrant is $5.00 ($20.00-$15.00) and therefore for each three Underwriter's Warrants surrendered, the Holder could acquire one share of Common Stock and one Warrant in the exchange. Notwithstanding the example, the Holder shall not be limited to exchanging Underwriter's Warrants for Common Stock and Warrants. The Warrant Exchange shall take place on the date specified in the notice or if the date the notice is received by the Company is later than the date specified in the notice, on the date the notice is received by the Company.

Exercise of Underwriter's Warrant. (a) The Underwriter's Warrant is exercisable during the term set forth in Section 1 hereof payable by certified or cashier's check or money order in lawful money of the United States. Upon surrender of Underwriter's Warrant Certificate with the annexed Form of Election to Purchase duly executed, together with payment of the Purchase Price (as hereinafter defined) for the Underwriter's Securities (and such other amounts, if any, arising pursuant to Section 4 hereof) at the Company's principal office currently located at 0000 Xxxxxxx 000 Xxxxx 00, Xxxxxxxx, Xxx Xxxxxx Xxxxxxxxx, Xxxxxxxxxxxx, Xxxxxxx 00000, 00000 the registered holder of a Underwriter's Warrant Certificate ("Holder" or "Holders") shall be entitled to receive a certificate or certificates for the Underwriter's Securities so purchased. The purchase rights represented by each Underwriter's Warrant Certificate are exercisable at the option of the Holder or Holders thereof, in whole or in part as to Underwriter's Securities. The Underwriter's Warrant may be exercised to purchase all or any part of the Underwriter's Securities represented thereby. In the case of the purchase of less than all the Underwriter's Securities purchasable on the exercise of the Underwriter's Warrant represented by a Underwriter's Warrant Certificate, the Company shall cancel the Underwriter's Warrant Certificate represented thereby upon the surrender thereof and shall execute and deliver a new Underwriter's Warrant Certificate of like tenor for the balance of the Underwriter's Securities purchasable thereunder. (b) In lieu of the payment of cash upon exercise of the Underwriter's Warrant as provided in Section 3(a), the Holder may exercise the Underwriter's Warrant by surrendering the Underwriter's Warrant Certificate at the principal office of the Company, accompanied by a notice stating (i) the Holder's intent to effect such exercise by an exchange, (ii) the number of Units Common Stock to be issued upon the exchange, (iii) whether Underwriter's Warrants are to be surrendered in connection with the exchange, and (iv) the date on which the Holder requests that such exchange is to occur. The Purchase Price for the Underwriter's Securities to be acquired in the exchange shall be paid by the surrender as indicated in the notice, of Underwriter's Warrants, having a "Value", as defined below, equal to the Purchase Price. "Value" as to each Underwriter's Warrant shall mean the difference between the "Market Price", as hereinafter defined, of one a share of Common Stock and one Warrant and the then Purchase Price for a Unitshare of Common Stock. By way of example of the application of the formula, assume that the Market Price of one share of the Common Stock plus one Warrant is $20.008.00, and the Purchase Price of the Underwriter's Warrant is $15.006.00. On such assumptions, the Value of each a Underwriter's Warrant is $5.00 2.00 ($20.00-$15.008.00-$6.00) and therefore for each three Underwriter's Warrants surrendered, the Holder could acquire one share of Common Stock and one Warrant in the exchange. Notwithstanding the example, the Holder shall not be limited to exchanging Underwriter's Warrants for Common Stock and WarrantsStock. The Warrant Exchange shall take place on the date specified in the notice or if the date the notice is received by the Company is later than the date specified in the notice, on the date the notice is received by the Company.

Exercise of Underwriter's Warrant. (a) The Underwriter's Underwriters' Warrant is exercisable during the term set forth in Section 1 hereof payable by certified or cashier's check or money order in lawful money of the United States. Upon surrender of Underwriter's Underwriters' Warrant Certificate with the annexed Form of Election to Purchase duly executed, together with payment of the Purchase Price (as hereinafter defined) for the Underwriter's Underwriters' Securities (and such other amounts, if any, arising pursuant to Section 4 hereof) at the Company's principal office currently located at 0000 Xxxxxxx Xxxxxx XxxxxxxxxXxxxx Xxxxx Road, XxxxxxxxxxxxLargo, Xxxxxxx 00000Florida 33777, the registered holder of a Underwriter's an Underwriters' Warrant Certificate ("Holder" or "Holders") shall be entitled to receive a certificate or certificates for the Underwriter's Underwriters' Securities so purchased. The purchase rights represented by each Underwriter's Underwriters' Warrant Certificate are exercisable at the option of the Holder or Holders thereof, in whole or in part as to Underwriter's Underwriters' Securities. The Underwriter's Underwriters' Warrant may be exercised to purchase all or any part of the Underwriter's Underwriters' Securities represented thereby. In the case of the purchase of less than all the Underwriter's Underwriters' Securities purchasable on the exercise of the Underwriter's Underwriters' Warrant represented by a Underwriter's an Underwriters' Warrant Certificate, the Company shall cancel the Underwriter's Underwriters' Warrant Certificate represented thereby upon the surrender thereof and shall execute and deliver a new Underwriter's Underwriters' Warrant Certificate of like tenor for the balance of the Underwriter's Underwriters' Securities purchasable thereunder. (b) In lieu of the payment of cash upon exercise of the Underwriter's Underwriters' Warrant as provided in Section 3(a), the Holder may exercise the Underwriter's Underwriters' Warrant by surrendering the Underwriter's Underwriters' Warrant Certificate at the principal office of the Company, accompanied by a notice stating (i) the Holder's intent to effect such exercise by an exchange, (ii) the number of Units Common Stock to be issued upon the exchange, (iii) whether Underwriter's Underwriters' Warrants are to be surrendered in connection with the exchange, and (iv) the date on which the Holder requests that such exchange is to occur. The Purchase Price for the Underwriter's Underwriters' Securities to be acquired in the exchange shall be paid by the surrender as indicated in the notice, of Underwriter's Underwriters' Warrants, having a "Value", as defined below, equal to the Purchase Price. "Value" as to each Underwriter's Underwriters' Warrant shall mean the difference between the "Market Price", as hereinafter defined, of one a share of Common Stock and one Warrant and the then Purchase Price for a Unitshare of Common Stock. By way of example of the application of the formula, assume that the Market Price of one share of the Common Stock plus one Warrant is $20.008.00, and the Purchase Price of the Underwriter's Underwriters' Warrant is $15.006.00. On such assumptions, the Value of each Underwriter's a Underwriters' Warrant is $5.00 2.00 ($20.00-$15.008.00-$6.00) and therefore for each three Underwriter's Underwriters' Warrants surrendered, the Holder could acquire one share of Common Stock and one Warrant in the exchange. Notwithstanding the example, the Holder shall not be limited to exchanging Underwriter's Underwriters' Warrants for Common Stock and WarrantsStock. The Warrant Exchange shall take place on the date specified in the notice or if the date the notice is received by the Company is later than the date specified in the notice, on the date the notice is received by the Company.

Exercise of Underwriter's Warrant. (a) The Underwriter's Warrant is exercisable during the term set forth in Section 1 hereof payable by certified or cashier's check or money order in lawful money of the United States. Upon surrender of Underwriter's Underwriters' Warrant Certificate with the annexed Form of Election to Purchase duly executed, together with payment of the Purchase Price (as hereinafter defined) for the Underwriter's Securities (and such other amounts, if any, arising pursuant to Section 4 hereof) at the Company's principal office currently located at 0000 Xxxxxxx 6925 000/xx/ Xxxxxx XxxxxxxxxXxxxx Xxxxx 000, XxxxxxxxxxxxXxxxx, Xxxxxxx 00000, 00000 the registered holder of a Underwriter's Warrant Certificate ("Holder" or "Holders") shall be entitled to receive a certificate or certificates for the Underwriter's Securities so purchased. The purchase rights represented by each Underwriter's Warrant Certificate are exercisable at the option of the Holder or Holders thereof, in whole or in part as to Underwriter's Securities. The Underwriter's Warrant may be exercised to purchase all or any part of the Underwriter's Securities represented thereby. In the case of the purchase of less than all the Underwriter's Underwriters' Securities purchasable on the exercise of the Underwriter's Underwriters' Warrant represented by a Underwriter's Underwriters' Warrant Certificate, the Company shall cancel the Underwriter's Underwriters' Warrant Certificate represented thereby upon the surrender thereof and shall execute and deliver a new Underwriter's Underwriters' Warrant Certificate of like tenor for the balance of the Underwriter's Underwriters' Securities purchasable thereunder. (b) In lieu of the payment of cash upon exercise of the Underwriter's Underwriters' Warrant as provided in Section 3(a), the Holder may exercise the Underwriter's Underwriters' Warrant by surrendering the Underwriter's Underwriters' Warrant Certificate at the principal office of the Company, accompanied by a notice stating (i) the Holder's intent to effect such exercise by an exchange, (ii) the number of Units Common Stock to be issued upon the exchange, (iii) whether Underwriter's Underwriters' Warrants are to be surrendered in connection with the exchange, and (iv) the date on which the Holder requests that such exchange is to occur. The Purchase Price for the Underwriter's Underwriters' Securities to be acquired in the exchange shall be paid by the surrender as indicated in the notice, of Underwriter's Underwriters' Warrants, having a "Value", as defined below, equal to the Purchase Price. "Value" as to each Underwriter's Underwriters' Warrant shall mean the difference between the "Market Price", as hereinafter defined, of one a share of Common Stock and one Warrant and the then Purchase Price for a Unitshare of Common Stock. By way of example of the application of the formula, assume that the Market Price of one share of the Common Stock plus one Warrant is $20.008.00, and the Purchase Price of the Underwriter's Underwriters' Warrant is $15.006.00. On such assumptions, the Value of each Underwriter's a Underwriters' Warrant is $5.00 2.00 ($20.00-$15.008.00-$6.00) and therefore for each three Underwriter's Underwriters' Warrants surrendered, the Holder could acquire one share of Common Stock and one Warrant in the exchange. Notwithstanding the example, the Holder shall not be limited to exchanging Underwriter's Underwriters' Warrants for Common Stock and WarrantsStock. The Warrant Exchange shall take place on the date specified in the notice or if the date the notice is received by the Company is later than the date specified in the notice, on the date the notice is received by the Company.

Exercise of Underwriter's Warrant. (a) The Underwriter's Warrant is exercisable during the term set forth in Section 1 hereof payable by certified or cashier's check or money order in lawful money of the United States. Upon surrender of Underwriter's Underwriters' Warrant Certificate with the annexed Form of Election to Purchase duly executed, together with payment of the Purchase Price (as hereinafter defined) for the Underwriter's Securities (and such other amounts, if any, arising pursuant to Section 4 hereof) at the Company's principal office currently located at 0000 6925 112th Circle North Suite 101, Largo, Florida 33773 the registerex xxxxxx xx x Xxxxxxxxxxx'x Xxxxxxx Xxxxxx Xxxxxxxxx, Xxxxxxxxxxxx, Xxxxxxx 00000, the registered holder of a Underwriter's Warrant Certificate Xxxxxxxxxxx ("HolderXxxxxr" or "Holders") shall be entitled to receive a certificate or certificates for the Underwriter's Securities so purchased. The purchase rights represented by each Underwriter's Warrant Certificate are exercisable at the option of the Holder or Holders thereof, in whole or in part as to Underwriter's Securities. The Underwriter's Warrant may be exercised to purchase all or any part of the Underwriter's Securities represented thereby. In the case of the purchase of less than all the Underwriter's Underwriters' Securities purchasable on the exercise of the Underwriter's Underwriters' Warrant represented by a Underwriter's Underwriters' Warrant Certificate, the Company shall cancel the Underwriter's Underwriters' Warrant Certificate represented thereby upon the surrender thereof and shall execute and deliver a new Underwriter's Underwriters' Warrant Certificate of like tenor for the balance of the Underwriter's Underwriters' Securities purchasable thereunder. (b) In lieu of the payment of cash upon exercise of the Underwriter's Underwriters' Warrant as provided in Section 3(a), the Holder may exercise the Underwriter's Underwriters' Warrant by surrendering the Underwriter's Underwriters' Warrant Certificate at the principal office of the Company, accompanied by a notice stating (i) the Holder's intent to effect such exercise by an exchange, (ii) the number of Units Common Stock to be issued upon the exchange, (iii) whether Underwriter's Underwriters' Warrants are to be surrendered in connection with the exchange, and (iv) the date on which the Holder requests that such exchange is to occur. The Purchase Price for the Underwriter's Underwriters' Securities to be acquired in the exchange shall be paid by the surrender as indicated in the notice, of Underwriter's Underwriters' Warrants, having a "Value", as defined below, equal to the Purchase Price. "Value" as to each Underwriter's Underwriters' Warrant shall mean the difference between the "Market Price", as hereinafter defined, of one a share of Common Stock and one Warrant and the then Purchase Price for a Unitshare of Common Stock. By way of example of the application of the formula, assume that the Market Price of one share of the Common Stock plus one Warrant is $20.008.00, and the Purchase Price of the Underwriter's Underwriters' Warrant is $15.006.00. On such assumptions, the Value of each Underwriter's a Underwriters' Warrant is $5.00 2.00 ($20.00-$15.008.00-$6.00) and therefore for each three Underwriter's Underwriters' Warrants surrendered, the Holder could acquire one share of Common Stock and one Warrant in the exchange. Notwithstanding the example, the Holder shall not be limited to exchanging Underwriter's Underwriters' Warrants for Common Stock and WarrantsStock. The Warrant Exchange shall take place on the date specified in the notice or if the date the notice is received by the Company is later than the date specified in the notice, on the date the notice is received by the Company.

Exercise of Underwriter's Warrant. (a) The Underwriter's Warrant is exercisable during the term set forth in Section 1 hereof payable by certified or cashier's check or money order in lawful 3lawful money of the United States. Upon surrender of Underwriter's Warrant Certificate with the annexed Form of Election to Purchase duly executed, together with payment of the Purchase Price (as hereinafter defined) for the Underwriter's Securities (and such other amounts, if any, arising pursuant to Section 4 hereof) at the Company's principal office currently located at 0000 Xxxxxxx 000-00 Xxxxx Xxxxxx XxxxxxxxxXxx., XxxxxxxxxxxxXxxxxxxx, Xxxxxxx 00000Xxx Xxxx, the registered holder of a Underwriter's Warrant Certificate ("Holder" or "Holders") shall be entitled to receive a certificate or certificates for the Underwriter's Securities so purchased. The purchase rights represented by each Underwriter's Warrant Certificate are exercisable at the option of the Holder or Holders thereof, in whole or in part as to Underwriter's Securities. The Underwriter's Warrant may be exercised to purchase all or any part of the Underwriter's Securities represented thereby. In the case of the purchase of less than all the Underwriter's Securities purchasable on the exercise of the Underwriter's Warrant represented by a Underwriter's Warrant Certificate, the Company shall cancel the Underwriter's Warrant Certificate represented thereby upon the surrender thereof and shall execute and deliver a new Underwriter's Warrant Certificate of like tenor for the balance of the Underwriter's Securities purchasable thereunder. (b) In lieu of the payment of cash upon exercise of the Underwriter's Warrant as provided in Section 3(a), the Holder may exercise the Underwriter's Warrant by surrendering the Underwriter's Warrant Certificate at the principal office of the Company, accompanied by a notice stating (i) the Holder's intent to effect such exercise by an exchange, (ii) the number of Units Common Stock to be issued upon the exchange, (iii) whether Underwriter's Warrants are Warrant to be surrendered in connection with the exchange, and (iv) the date on which the Holder requests that such exchange is to occur. The Purchase Price for the Underwriter's Securities to be acquired in the exchange shall be paid by the surrender as indicated in the notice, of Underwriter's WarrantsWarrant, having a "Value", as defined below, equal to the Purchase Price. "Value" as to each Underwriter's Warrant shall mean the difference between the "Market Price", as hereinafter defined, of one a share of Common Stock and one Warrant and the then Purchase Price for a Unitshare of Common Stock. By way of example of the application of the formula, assume that the Market Price of one share of the Common Stock plus one Warrant is $20.008.00, and the Purchase Price of the Underwriter's Warrant is $15.006.00. On such assumptions, the Value of each a Underwriter's Warrant is $5.00 2.00 ($20.00-$15.00) and therefore for each three Underwriter's Warrants surrendered, the Holder could acquire one share of Common Stock and one Warrant in the exchange8.00-$6.00). Notwithstanding the example, the The Holder shall not be limited to exchanging Underwriter's Warrants Warrant for Common Stock and Warrants. The Warrant Exchange shall take place on the date specified in the notice or if the date the notice is received by the Company is later than the date specified in the notice, on the date the notice is received by the CompanyStock.

Exercise of Underwriter's Warrant. (a) The Underwriter's Underwriters' Warrant is exercisable during the term set forth in Section 1 hereof payable by certified or cashier's check or money order in lawful money of the United States. Upon surrender of Underwriter's Underwriters' Warrant Certificate with the annexed Form of Election to Purchase duly executed, together with payment of the Purchase Price (as hereinafter defined) for the Underwriter's Underwriters' Securities (and such other amounts, if any, arising pursuant to Section 4 hereof) at the Company's principal office currently located at 0000 Xxxxxxx 1401 Elm 000 Xxxxx 00, Xxxxxxxx, Xxx Xxxxxx Xxxxxxxxx, Xxxxxxxxxxxx, Xxxxxxx 00000, 00000 the registered holder of a Underwriter's Underwriters' Warrant Certificate ("Holder" or "Holders") shall be entitled to receive a certificate or certificates for the Underwriter's Underwriters' Securities so purchased. The purchase rights represented by each Underwriter's Underwriters' Warrant Certificate are exercisable at the option of the Holder or Holders thereof, in whole or in part as to Underwriter's Underwriters' Securities. The Underwriter's Underwriters' Warrant may be exercised to purchase all or any part of the Underwriter's Underwriters' Securities represented thereby. In the case of the purchase of less than all the Underwriter's Underwriters' Securities purchasable on the exercise of the Underwriter's Underwriters' Warrant represented by a Underwriter's Underwriters' Warrant Certificate, the Company shall cancel the Underwriter's Underwriters' Warrant Certificate represented thereby upon the surrender thereof and shall execute and deliver a new Underwriter's Underwriters' Warrant Certificate of like tenor for the balance of the Underwriter's Underwriters' Securities purchasable thereunder. (b) In lieu of the payment of cash upon exercise of the Underwriter's Underwriters' Warrant as provided in Section 3(a), the Holder may exercise the Underwriter's Underwriters' Warrant by surrendering the Underwriter's Underwriters' Warrant Certificate at the principal office of the Company, accompanied by a notice stating (i) the Holder's intent to effect such exercise by an exchange, (ii) the number of Units Common Stock to be issued upon the exchange, (iii) whether Underwriter's Underwriters' Warrants are to be surrendered in connection with the exchange, and (iv) the date on which the Holder requests that such exchange is to occur. The Purchase Price for the Underwriter's Underwriters' Securities to be acquired in the exchange shall be paid by the surrender as indicated in the notice, of Underwriter's Underwriters' Warrants, having a "Value", as defined below, equal to the Purchase Price. "Value" as to each Underwriter's Underwriters' Warrant shall mean the difference between the "Market Price", as hereinafter defined, of one a share of Common Stock and one Warrant and the then Purchase Price for a Unitshare of Common Stock. By way of example of the application of the formula, assume that the Market Price of one share of the Common Stock plus one Warrant is $20.008.00, and the Purchase Price of the Underwriter's Underwriters' Warrant is $15.006.00. On such assumptions, the Value of each Underwriter's a Underwriters' Warrant is $5.00 2.00 ($20.00-$15.008.00-$6.00) and therefore for each three Underwriter's Underwriters' Warrants surrendered, the Holder could acquire one share of Common Stock and one Warrant in the exchange. Notwithstanding the example, the Holder shall not be limited to exchanging Underwriter's Underwriters' Warrants for Common Stock and WarrantsStock. The Warrant Exchange shall take place on the date specified in the notice or if the date the notice is received by the Company is later than the date specified in the notice, on the date the notice is received by the Company.

Exercise of Underwriter's Warrant. (a) The Underwriter's Warrant is exercisable during the term set forth in Section 1 hereof payable by certified or cashier's check or money order in lawful money of the United States. Upon surrender of Underwriter's Warrant Certificate with the annexed Form of Election to Purchase duly executed, together with payment of the Purchase Price (as hereinafter defined) for the Underwriter's Securities (and such other amounts, if any, arising pursuant to Section 4 hereof) at the Company's principal office currently located at 0000 Xxxxxxx Xxxxxx Xxxxxxxxx, Xxxxxxxxxxxx, Xxxxxxx 00000, the registered holder of a Underwriter's Warrant Certificate ("Holder" or "Holders") shall be entitled to receive a certificate or certificates for the Underwriter's Securities so purchased. The purchase rights represented by each Underwriter's Warrant Certificate are exercisable at the option of the Holder or Holders thereof, in whole or in part as to Underwriter's Securities. The Underwriter's Warrant may be exercised to purchase all or any part of the Underwriter's Securities represented thereby. In the case of the purchase of less than all the Underwriter's Securities purchasable on the exercise of the Underwriter's Warrant represented by a Underwriter's Warrant Certificate, the Company shall cancel the Underwriter's Warrant Certificate represented thereby upon the surrender thereof and shall execute and deliver a new Underwriter's Warrant Certificate of like tenor for the balance of the Underwriter's Securities purchasable thereunder. (b) In lieu of the payment of cash upon exercise of the Underwriter's Warrant as provided in Section 3(a), the Holder may exercise the Underwriter's Warrant by surrendering the Underwriter's Warrant Certificate at the principal office of the Company, accompanied by a notice stating (i) the Holder's intent to effect such exercise by an exchange, (ii) the number of Units Common Stock to be issued upon the exchange, (iii) whether Underwriter's Warrants are to be surrendered in connection with the exchange, and (iv) the date on which the Holder requests that such exchange is to occur. The Purchase Price for the Underwriter's Securities to be acquired in the exchange shall be paid by the surrender as indicated in the notice, of Underwriter's Warrants, having a "Value", as defined below, equal to the Purchase Price. "Value" as to each Underwriter's Warrant shall mean the difference between the "Market Price", as hereinafter defined, of one a share of Common Stock and one Warrant and the then Purchase Price for a Unitshare of Common Stock. By way of example of the application of the formula, assume that the Market Price of one share of the Common Stock plus one Warrant is $20.00, and the Purchase Price of the Underwriter's Warrant is $15.0016.50. On such assumptions, the Value of each a Underwriter's Warrant is $5.00 3.50 ($20.00-$15.0020.00-$16.50) and therefore for each three Underwriter's Warrants surrendered, the Holder could acquire one share of Common Stock and one Warrant in the exchange. Notwithstanding the example, the Holder shall not be limited to exchanging Underwriter's Warrants for Common Stock and WarrantsStock. The Warrant Exchange shall take place on the date specified in the notice or if the date the notice is received by the Company is later than the date specified in the notice, on the date the notice is received by the Company.

Exercise of Underwriter's Warrant. (a) The Underwriter's Warrant is exercisable during the term set forth in Section 1 hereof payable by certified or cashier's check or money order in lawful money of the United States. Upon surrender of Underwriter's Warrant Certificate with the annexed Form of Election to Purchase duly executed, together with payment of the Purchase Price (as hereinafter defined) for the Underwriter's Securities (and such other amounts, if any, arising pursuant to Section 4 hereof) at the Company's principal office currently located at 0000 Xxxxxxx 000-00 Xxxxx Xxxxxx XxxxxxxxxXxx., XxxxxxxxxxxxXxxxxxxx, Xxxxxxx 00000Xxx Xxxx, the registered holder of a Underwriter's Warrant Certificate ("Holder" or "Holders") shall be entitled to receive a certificate or certificates for the Underwriter's Securities so purchased. The purchase rights represented by each Underwriter's Warrant Certificate are exercisable at the option of the Holder or Holders thereof, in whole or in part as to Underwriter's Securities. The Underwriter's Warrant may be exercised to purchase all or any part of the Underwriter's Securities represented thereby. In the case of the purchase of less than all the Underwriter's Securities purchasable on the exercise of the Underwriter's Warrant represented by a Underwriter's Warrant Certificate, the Company shall cancel the Underwriter's Warrant Certificate represented thereby upon the surrender thereof and shall execute and deliver a new Underwriter's Warrant Certificate of like tenor for the balance of the Underwriter's Securities purchasable thereunder. (b) In lieu of the payment of cash upon exercise of the Underwriter's Warrant as provided in Section 3(a), the Holder may exercise the Underwriter's Warrant by surrendering the Underwriter's Warrant Certificate at the principal office of the Company, accompanied by a notice stating (i) the Holder's intent to effect such exercise by an exchange, (ii) the number of Units Common Stock to be issued upon the exchange, (iii) whether Underwriter's Warrants are to be surrendered in connection with the exchange, and (iv) the date on which the Holder requests that such exchange is to occur. The Purchase Price for the Underwriter's Securities to be acquired in the exchange shall be paid by the surrender as indicated in the notice, of Underwriter's Warrants, having a "Value", as defined below, equal to the Purchase Price. "Value" as to each Underwriter's Warrant shall mean the difference between the "Market Price", as hereinafter defined, of one a share of Common Stock and one Warrant and the then Purchase Price for a Unitshare of Common Stock. By way of example of the application of the formula, assume that the Market Price of one share of the Common Stock plus one Warrant is $20.008.00, and the Purchase Price of the Underwriter's Warrant is $15.006.00. On such assumptions, the Value of each a Underwriter's Warrant is $5.00 2.00 ($20.00-$15.008.00-$6.00) and therefore for each three Underwriter's Warrants surrendered, the Holder could acquire one share of Common Stock and one Warrant in the exchange. Notwithstanding the example, the Holder shall not be limited to exchanging Underwriter's Warrants for Common Stock and WarrantsStock. The Warrant Exchange shall take place on the date specified in the notice or if the date the notice is received by the Company is later than the date specified in the notice, on the date the notice is received by the Company.

Exercise of Underwriter's Warrant. (a) The Underwriter's Warrant is exercisable during the term set forth in Section 1 hereof payable by certified or cashier's check or money order in lawful money of the United States. Upon surrender of Underwriter's Warrant Certificate with the annexed Form of Election to Purchase duly executed, together with payment of the Purchase Price (as hereinafter defined) for the Underwriter's Securities (and such other amounts, if any, arising pursuant to Section 4 hereof) at the Company's principal office currently located at 0000 Xxxxxxx Xxxxxx XxxxxxxxxXxxxx Xxxxx Road, XxxxxxxxxxxxLargo, Xxxxxxx 00000Florida 33777, the registered holder of a Underwriter's Warrant Certificate ("Holder" or "Holders") shall be entitled to receive a certificate or certificates for the Underwriter's Securities so purchased. The purchase rights represented by each Underwriter's Warrant Certificate are exercisable at the option of the Holder or Holders thereof, in whole or in part as to Underwriter's Securities. The Underwriter's Warrant may be exercised to purchase all or any part of the Underwriter's Securities represented thereby. In the case of the purchase of less than all the Underwriter's Securities purchasable on the exercise of the Underwriter's Warrant represented by a Underwriter's Warrant Certificate, the Company shall cancel the Underwriter's Warrant Certificate represented thereby upon the surrender thereof and shall execute and deliver a new Underwriter's Warrant Certificate of like tenor for the balance of the Underwriter's Securities purchasable thereunder. (b) In lieu of the payment of cash upon exercise of the Underwriter's Warrant as provided in Section 3(a), the Holder may exercise the Underwriter's Warrant by surrendering the Underwriter's Warrant Certificate at the principal office of the Company, accompanied by a notice stating (i) the Holder's intent to effect such exercise by an exchange, (ii) the number of Units Common Stock to be issued upon the exchange, (iii) whether Underwriter's Warrants are to be surrendered in connection with the exchange, and (iv) the date on which the Holder requests that such exchange is to occur. The Purchase Price for the Underwriter's Securities to be acquired in the exchange shall be paid by the surrender as indicated in the notice, of Underwriter's Warrants, having a "Value", as defined below, equal to the Purchase Price. "Value" as to each Underwriter's Warrant shall mean the difference between the "Market Price", as hereinafter defined, of one a share of Common Stock and one Warrant and the then Purchase Price for a Unitshare of Common Stock. By way of example of the application of the formula, assume that the Market Price of one share of the Common Stock plus one Warrant is $20.008.00, and the Purchase Price of the Underwriter's Warrant is $15.006.00. On such assumptions, the Value of each a Underwriter's Warrant is $5.00 2.00 ($20.00-$15.008.00-$6.00) and therefore for each three Underwriter's Warrants surrendered, the Holder could acquire one share of Common Stock and one Warrant in the exchange. Notwithstanding the example, the Holder shall not be limited to exchanging Underwriter's Warrants for Common Stock and WarrantsStock. The Warrant Exchange shall take place on the date specified in the notice or if the date the notice is received by the Company is later than the date specified in the notice, on the date the notice is received by the Company.