Common use of Exercise of Warrants and Delivery of Warrant Shares Clause in Contracts

Exercise of Warrants and Delivery of Warrant Shares. (a) A registered Holder may exercise the Warrants through a cashless exercise (a “Cashless Exercise”) pursuant to Section 4(b) below if, and only if, an effective registration statement is not then available for the issuance of the Warrant Shares. If an effective registration statement is available for the issuance of the Warrant Shares, a registered Holder may only exercise the Warrants through a cash exercise (a “Cash Exercise”). (b) The Holder may effect a Cashless Exercise by delivering a duly executed Form of Election to Purchase to the Company indicating that the Holder wishes to effect a Cashless Exercise, upon which the Company shall issue, or cause to be issued, to the Holder the number of Warrant Shares determined as follows:

Exercise of Warrants and Delivery of Warrant Shares. (a) A registered Holder may exercise the Warrants through a cashless exercise (a “Cashless Exercise”) pursuant to Section 4(b) below if, and only if, an effective registration statement is not then available for the issuance of the Warrant Shares. If an effective registration statement is available for the issuance of the Warrant Shares, a registered Holder may only exercise the Warrants through a cash exercise (a “Cash Exercise”). (b) The Holder may effect a Cashless Exercise by delivering a duly executed surrendering Warrant Certificates to the Company and noting on the Form of Election to Purchase to the Company indicating that the Holder wishes to effect a Cashless Exercise, upon which the Company shall issue, or cause to be issued, to the Holder the number of Warrant Shares determined as follows:

Exercise of Warrants and Delivery of Warrant Shares. (a) A registered Holder may exercise the Warrants through a cashless exercise (a “Cashless Exercise”) pursuant to Section 4(b) below if, and only if, an effective registration statement is not then available for the issuance of the Warrant Shares. If Except as set forth in Section 4(d) below, if an effective registration statement is available for the issuance of the Warrant Shares, a registered Holder may only exercise the Warrants through a cash exercise (a “Cash Exercise”). (b) The Holder may effect a Cashless Exercise by delivering a duly executed Form of Election to Purchase to the Company indicating that the Holder wishes to effect a Cashless Exercise, upon which the Company shall issue, or cause to be issued, to the Holder the number of Warrant Shares determined as follows:

Exercise of Warrants and Delivery of Warrant Shares. (a) A registered Holder may exercise the Warrants through a cashless exercise (a “Cashless Exercise”) ), which will be calculated by the Company and provided in writing to the Warrant Agent pursuant to Section 4(b) below if, and only if, an effective registration statement is not then available for the issuance of the Warrant Shares. If an effective registration statement is available for the issuance of the Warrant Shares, a registered Holder may only exercise the Warrants through a cash exercise (a “Cash Exercise”). (b) The Holder may effect a Cashless Exercise by delivering indicating on a duly executed Form of Election to Purchase to the Company indicating that the Holder wishes to effect a Cashless Exercise, upon which the Company shall issue, or cause to be issued, to the Holder the number of Warrant Shares determined as follows: