Exercise; Vesting. (a) Each Warrant may be exercised by the Registered Holder thereof at any time on or after the Initial Warrant Exercise Date, but not after the Warrant Expiration Date, on the terms and subject to the conditions set forth herein and (to the extent not inconsistent herewith) in the applicable Warrant Certificate. A Warrant shall be deemed to have been exercised immediately prior to the close of business on the Exercise Date and the person entitled to receive the securities deliverable on such exercise shall be treated for all purposes as the holder of those securities on the exercise of the Warrant as of the close of business on the Exercise Date. Promptly following, and in any event within five (5) business days after the date of such exercise, the Company shall cause to be issued and delivered by the Transfer Agent, to the person or persons entitled to receive the same, a certificate or certificates for the securities deliverable on such exercise (plus a certificate for any remaining unexercised Warrants of the Registered Holder). In connection with any exercise of Warrants by a Registered Holder, in lieu of paying all or any portion of the associated Purchase Price required hereunder, such Registered Holder shall be entitled (at its election) to effect a partial or complete "cashless exercise."
Exercise; Vesting. Subject to adjustment as hereinafter provided, the rights represented by this Warrant are exercisable on and after the earlier of (i) twelve (12) months following the date of the Public Offering or (ii) until the Expiration Date (the “Exercise Date”), at a price (the “Exercise Price”) per share equal to $0.50. The Exercise Price shall be payable in cash, or by certified or official bank check. This Warrant is fully vested.
Exercise; Vesting. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, (i) at any time or times on or after the Original Issue Date, with respect to the first Five Million (5,000,000) of the Warrant Shares and (ii) if the Vesting Termination Date has not occured at any time on or after the Vesting Trigger Date, with respect to any Warrant Shares in excess of the initial Five Million (5,000,000) Warrant Shares, and, in each case, prior to the Termination Date by delivery to the Company (or such other office or agency of the Company as it may designate by notice in writing to the registered Holder at the address of the Holder appearing on the books of the Company) of a duly executed facsimile (or other electronic method) copy of the Notice of Exercise Form attached hereto as Exhibit A. Within two (2) Business Days following the date of exercise as aforesaid, the Holder shall deliver the Aggregate Exercise Price for the Warrant Shares specified in the applicable Notice of Exercise by wire transfer or cashier’s check drawn on a United States bank. Notwithstanding anything herein to the contrary (although the Holder may surrender this Warrant to, and receive a replacement Warrant from, the Company), the Holder shall not be required to physically surrender this Warrant to the Company. After the Holder has purchased all of the Warrant Shares available hereunder and this Warrant has been exercised in full, this Warrant will be deemed cancelled. Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased. The Company shall maintain records showing the number of Warrant Shares purchased and the date of such purchases. The Company shall deliver any objection to any Notice of Exercise Form within one (1) Business Day of delivery of such notice. The Holder by acceptance of this Warrant, acknowledges and agrees that, by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be less than the amount stated on the face hereof.
Exercise; Vesting. (a) Except as set forth in paragraphs (c) through (g) of this Section 2, the Option shall become exercisable in three equal annual installments of Eight Hundred Eighty Eight Thousand Eight Hundred Eighty Nine (888,889) shares on each of December 31, 2003, 2004 and 2005 respectively, which shall be cumulative; provided, that the Executive's Service has not been terminated prior to that date. There shall be no proportionate or partial vesting in the periods prior to each vesting date and all vesting shall occur only on the appropriate vesting date.
Exercise; Vesting. This Warrant may be exercised by the Holder hereof (but only on the conditions hereinafter set forth) in whole or in part as to the Vested Shares (defined below) that may be acquired hereunder, from time to time after the earlier to occur of (a) satisfaction in full of all amounts due under the Subordinated Loan Agreement or (b) an Event of Default under the Subordinated Loan Agreement, by delivery of written notice of intent to exercise to the Company in the manner at the address of the Company set forth in Section 7.6 hereof, together with this Warrant and payment to the Company of the aggregate Exercise Price of the Shares so purchased. The Shares shall vest ratably from the date of this Warrant through May 31, 2010, provided that no further vesting shall occur after the payment in full of the Note; and the whole shares as to which this Warrant has vested from time to time are referred to herein as the "Vested Shares." The Exercise Price shall be payable in cash or by check (which need not be certified). Upon exercise of this Warrant, the Company shall, as promptly as practicable, and in any event within fifteen (15) days thereafter, execute and deliver to the Holder of this Warrant
Exercise; Vesting
