Common use of Exercise of Warrant; Partial Exercise Clause in Contracts

Exercise of Warrant; Partial Exercise. This Warrant may be exercised during the Exercise Period for the full number of shares of Stock at the time called for hereby by the holder surrendering this Warrant, properly endorsed, to the Company at its principal office in Alhambra, California or as otherwise specified pursuant to Section 15 hereof, accompanied by a completed subscription agreement in the form attached hereto and payment of an amount equal to the product of (a) the number of shares of Stock called for on the face of this Warrant (without giving effect to any adjustment therein) and (b) the Purchase Price, which payment or payments shall be made, at the option of such holder, by check in such amount, payable to the order of the Company. This Warrant may be exercised during the Exercise Period for less than the full number of shares of Stock at the time called for hereby by such a surrender. Upon any such partial exercise, the Company at its expense will forthwith, and in any event within 10 days of such partial exercise, issue to the holder hereof a new Warrant or Warrants of like tenor calling in the aggregate on their face for the number of shares of Stock for which this Warrant shall not have been exercised, issued in the name of the holder hereof or of such person as such holder (upon payment by such holder of any applicable transfer taxes) may direct.