Common use of Fractional Interests; Current Market Price Clause in Contracts

Fractional Interests; Current Market Price. The Company shall not be required to issue fractional Shares on the exercise of any of the Warrants. If any fraction of a Warrant Share would, except for the provisions of this Section 10, be issuable on the exercise of the Warrants (or any specified portion thereof being exercised), the Company shall pay to the Warrantholder, in lieu of the issuance of such fractional Warrant Share, an amount in cash equal to the then Current Market Price multiplied by such fraction. For purposes of this Agreement, the term “Current Market Price” shall mean (i) if the common stock is traded in the over-the-counter market and not in the Nasdaq National Market System nor on any national securities exchange, the average of the per share closing bid prices of the common stock on the 30 consecutive trading days immediately preceding the date in question, as reported by Nasdaq or an equivalent generally accepted reporting service, or (ii) if the common stock is traded in the Nasdaq National Market System or on a national securities exchange, the average for the 30 consecutive trading days immediately preceding the date in question of the daily per share closing prices of the common stock in the Nasdaq National Market System or on the principal stock exchange on which it is listed, as the case may be. For purposes of clause (i) above, if trading in the common stock is not reported by Nasdaq, the bid price referred to in said clause shall be the lowest bid price as reported in the “pink sheets” published by National Quotation Bureau, Incorporated. The closing price referred to in clause (ii) above shall be the last reported sale price or, in case no such reported sale takes place on such day, the average of the reported closing bid and asked prices, in either case in the Nasdaq National Market System or on the national securities exchange on which the common stock is then listed.

Fractional Interests; Current Market Price. The Company shall not be required to issue fractional Warrant Shares on the exercise of any of the Warrants. If any fraction of a Warrant Share would, except for the provisions of this Section 109, be issuable on the exercise of the Warrants (or any specified portion thereof being exercised), the Company shall pay to the Warrantholder, in lieu of the issuance of such fractional Warrant Share, an amount in cash equal to the then Current Market Price multiplied by such fraction. For purposes of this Agreement, the term “"Current Market Price” " shall mean (i) if the common stock Common Stock is traded in the over-the-counter market and not in the Nasdaq NASDAQ National Market System nor on any national securities exchange, the average of the per share closing bid prices of the common stock Common Stock on the 30 consecutive trading days immediately preceding the date in question, as reported by Nasdaq NASDAQ or an equivalent generally accepted reporting service, or (ii) if the common stock Common Stock is traded in the Nasdaq NASDAQ National Market System or on a national securities exchange, the average for the 30 consecutive trading days immediately preceding the date in question of the daily per share closing prices of the common stock Common Stock in the Nasdaq NASDAQ National Market System or on the principal stock exchange on which it is listed, as the case may be. For purposes of clause (i) above, if trading in the common stock Common Stock is not reported by NasdaqNASDAQ, the bid price referred to in said clause shall be the lowest bid price as reported in the “"pink sheets” " published by National Quotation Bureau, Incorporated. The closing price referred to in clause (ii) above shall be the last reported sale price or, in case no such reported sale takes place on such day, the average of the reported closing bid and asked prices, in either case in the Nasdaq NASDAQ National Market System or on the national securities exchange on which the common stock Common Stock is then listed.

Fractional Interests; Current Market Price. The Company shall not be required to issue fractional Shares on the exercise of any of the Warrants. If any fraction of a Warrant Share would, except for the provisions of this Section 109, be issuable on the exercise of the Warrants (or any specified portion thereof being exercisedthereof), the Company shall pay to the Warrantholder, in lieu of the issuance of such fractional Warrant Share, an amount in cash equal to the then Current Market Price multiplied by such fraction. For purposes of this Agreement, the term “"Current Market Price” " shall mean (i) if the common stock Common Stock is traded in the over-the-counter market NASDAQ Small Cap Market and not in the Nasdaq NASDAQ National Market System nor on any national securities exchange, the average average, of the per share closing bid prices of the common stock Common Stock on the 30 thirty (30) consecutive trading days immediately preceding the date in question, as reported by Nasdaq NASDAQ or an equivalent generally accepted reporting service, or (ii) if the common stock Common Stock is traded in the Nasdaq NASDAQ National Market System or on a national securities exchange, the average for the 30 thirty (30) consecutive trading days immediately preceding the date in question question, of the daily per share closing prices of the common stock Common Stock in the Nasdaq NASDAQ National Market System or on the principal stock exchange on which it is listed, as the case may be. For purposes of clause (i) above, if trading in the common stock Common Stock is not reported by NasdaqNASDAQ, the bid price referred to in said clause shall be the lowest bid price as reported in the “"pink sheets” " published by National Quotation Bureau, Incorporated. The closing price referred to in clause (ii) above shall be the last reported sale price or, in case no such reported sale takes place on such day, the average of the reported closing bid and asked prices, in either case in the Nasdaq NASDAQ National Market System or on the national securities exchange on which the common stock Common Stock is then listed.

Fractional Interests; Current Market Price. The Company shall not be required to issue fractional Warrant Shares on upon the exercise of any of the Warrants. If any fraction of a Warrant Share would, except for the provisions of this Section 109, be issuable on upon the exercise of the Warrants (or any specified portion thereof being exercisedthereof), the Company shall pay to the Warrantholder, in lieu of the issuance of such fractional Warrant Share, an amount in cash equal to the then Current Market Price (as that term is defined below) per share of Common Stock multiplied by such fraction. For purposes of this Agreement, the term “"Current Market Price” " shall mean (i) if the common stock Common Stock is traded in the over-the-counter market and not in on the Nasdaq National Market System nor on any national securities exchange, the average of the per share closing bid prices of the common stock price on the 30 twenty (20) consecutive trading days immediately preceding the date in question, as reported by the Nasdaq SmallCap Market (or an equivalent generally accepted reporting service, service if quotations are not reported on the Nasdaq SmallCap Market); or (ii) if the common stock Common Stock is traded in on the Nasdaq National Market System or on a national securities exchange, the average for the 30 twenty (20) consecutive trading days immediately preceding the date in question of the daily per share closing prices of the common stock in on the Nasdaq National Market System or on the principal stock exchange on which it the Common Stock is listed, as the case may be. For purposes of clause (i) above, if trading in the common stock Common Stock is not reported by Nasdaqthe Nasdaq SmallCap Market, the applicable bid price referred to in said clause (i) shall be the lowest bid price as reported by the Nasdaq Electronic Bulletin Board or, if not reported thereon, as reported in the “"pink sheets” " published by National Quotation Bureau, Incorporated, and, if such securities are not so reported, shall be the price of a share of Common Stock determined by the Company's Board of Directors in good faith. The closing price referred to in clause (ii) above shall be the last reported sale price or, in case no such reported sale takes place on such day, the average of the reported closing bid and asked prices, in either case in on the Nasdaq National Market System or on the national securities exchange on which the common stock Common Stock is then listed.

Fractional Interests; Current Market Price. The Company shall not be required to issue fractional Shares on the exercise of any of the Warrants. If any fraction of a Warrant Share would, except for the provisions of this Section 109, be issuable on the exercise of the Warrants (or any specified portion thereof being exercisedthereof), the Company shall pay to the Warrantholder, in lieu of the issuance of such fractional Warrant Share, an amount in cash equal to the then Current Market Price multiplied by such fraction. For purposes of this Agreement, the term “"Current Market Price” " shall mean (i) if the common stock is Common Shares are traded in the over-the-counter market and not in the Nasdaq NASDAQ National Market System nor on any national securities exchange, the average of the per share closing bid prices of the common stock Common Shares on the 30 consecutive trading days immediately preceding the date in question, as reported by Nasdaq NASDAQ or an equivalent generally accepted reporting service, or (ii) if the common stock is Common Shares are traded in the Nasdaq NASDAQ National Market System or on a national securities exchange, the average for the 30 consecutive trading days immediately preceding the date in question of the daily per share closing prices of the common stock Common Shares in the Nasdaq NASDAQ National Market System or on the principal stock exchange on which it is listed, as the case may be. For purposes of clause (i) above, if trading in the common stock Common Shares is not reported by NasdaqNASDAQ, the bid price referred to in said clause shall be the lowest bid price as reported in the “"pink sheets” " published by National Quotation Bureau, Incorporated. The closing price referred to in clause (ii) above shall be the last reported sale price or, in case no such reported sale takes place on such day, the average of the reported closing bid and asked prices, in either case in the Nasdaq NASDAQ National Market System or on the national securities exchange on which the common stock is Common Shares are then listed.

Fractional Interests; Current Market Price. The Company shall not be required to issue fractional Shares on the exercise of any of the Warrants. If any fraction of a Warrant Share would, except for the provisions of this Section 10section 9, be issuable on the exercise of the Warrants (or any specified portion thereof being exercisedthereof), the Company shall pay to the Warrantholder, in lieu of the issuance of such fractional Warrant Share, an amount in cash equal to the then Current Market Price multiplied by such fraction. For purposes of this Agreement, the term “"Current Market Price” " shall mean (i) if the common stock Common Stock is traded in the over-the-counter market and not in the Nasdaq National Market System nor on any national securities exchange, the average of the per share closing bid prices of the common stock Common Stock on the 30 consecutive trading days immediately preceding the date in question, as reported by Nasdaq or an equivalent generally accepted reporting service, or (ii) if the common stock Common Stock is traded in the Nasdaq National Market System or on a national securities exchange, the average for the 30 consecutive trading days immediately preceding the date in question of the daily per share closing prices of the common stock Common Stock in the Nasdaq National Market System or on the principal stock exchange on which it is listed, as the case may be. For purposes of clause (i) above, if trading in the common stock Common Stock is not reported by Nasdaq, the bid price referred to in said clause shall be the lowest bid price as reported in the “"pink sheets” " published by National Quotation Bureau, Incorporated. The closing price referred to in clause (ii) above shall be the last reported sale price or, in case no such reported sale takes place on such day, the average of the reported closing bid and asked prices, in either case in the Nasdaq National Market System or on the national securities exchange on which the common stock Common Stock is then listed.

Fractional Interests; Current Market Price. The Company shall not be required to issue fractional Shares on the exercise of any of the Warrants. If any fraction of a Warrant Share would, except for the provisions of this Section 1011, be issuable on the exercise of the Warrants (or any specified portion thereof being exercised), the Company shall pay to the Warrantholder, in lieu of the issuance of such fractional Warrant Share, an amount in cash equal to the then Current Market Price multiplied by such fraction. For purposes of this Agreement, the term “"Current Market Price” " shall mean (i) if the common stock Common Stock is traded in the over-the-counter market and not in the Nasdaq NASDAQ National Market System nor on any national securities exchange, the average of the per share closing bid prices of the common stock Common Stock on the 30 consecutive trading days immediately preceding the date in question, as reported by Nasdaq NASDAQ or an equivalent generally accepted reporting service, or (ii) if the common stock Common Stock is traded in the Nasdaq NASDAQ National Market System or on a national securities exchange, the average for the 30 consecutive trading days immediately preceding the date in question of the daily per share closing prices of the common stock Common Stock in the Nasdaq NASDAQ National Market System or on the principal stock exchange on which it is listed, as the case may be. For purposes of clause (i) above, if trading in the common stock Common Stock is not reported by NasdaqNASDAQ, the bid price referred to in said clause shall be the lowest bid price as reported in the “"pink sheets” " published by National Quotation Bureau, Incorporated. The closing price referred to in clause (ii) above shall be the last reported sale price or, in case no such reported sale takes place on such day, the average of the reported closing bid and asked prices, in either case in the Nasdaq NASDAQ National Market System or on the national securities exchange on which the common stock Common Stock is then listed.

Fractional Interests; Current Market Price. The Company shall not be required to issue fractional Shares on the exercise of any of the Warrants. If any fraction of a Warrant Share would, except for the provisions of this Section 109, be issuable on the exercise of the Warrants (or any specified portion thereof being exercisedthereof), the Company shall pay to the Warrantholder, in lieu of the issuance of such fractional Warrant Share, an amount in cash equal to the then Current Market Price per share of Common Stock multiplied by such fraction. For purposes of this Agreement, the term “"Current Market Price” " shall mean (i) if the common stock Common Stock is traded in the over-the-counter market and not in the The Nasdaq National Market System nor on any national securities exchange, the average of the per share closing bid prices of the common stock price on the 30 consecutive trading days immediately preceding the date in question, as reported by The Nasdaq Small Cap Market (or an equivalent generally accepted reporting serviceservice if quotations are not reported on The Nasdaq Small Cap Market), or (ii) if the common stock Common Stock is traded in the The Nasdaq National Market System or on a national securities exchange, the average for the 30 consecutive trading days immediately preceding the date in question of the daily per share closing prices of the common stock in the The Nasdaq National Market System or on the principal stock exchange on which it is listed, as the case may be. For purposes of clause (i) above, if trading in the common stock Common Stock is not reported by NasdaqThe Nasdaq Small Cap Market, the applicable bid price referred to in said clause shall be the lowest bid price as reported in The Nasdaq Electronic Bulletin Board or, if not reported thereon, as reported in the “"pink sheets” " published by National Quotation Bureau, Incorporated, and, if such securities are not so reported, shall be the price of a share of Common Stock determined by the Company's Board of Directors in good faith. The closing price referred to in clause (ii) above shall be the last reported sale price or, in case no such reported sale takes place on such day, the average of the reported closing bid and asked prices, in either case in the The Nasdaq National Market System or on the national securities exchange on which the common stock Common Stock is then listed.

Fractional Interests; Current Market Price. The Company shall not be required to issue fractional Shares on the exercise of any of the Warrants. If any fraction of a Warrant Share would, except for the provisions of this Section 109, be issuable on the exercise of the Warrants (or any specified portion thereof being exercisedthereof), the Company shall pay to the Warrantholdershall, in lieu of the issuance issuing such fraction of such fractional Warrant a Share, pay an amount in cash equal to the then Current Market Price multiplied by such fraction. For purposes of this Agreement, the term “"Current Market Price” " shall mean (i) if the common stock Common Stock is traded in the over-the-counter market and not in the Nasdaq NASDAQ National Market System nor on any national securities exchange, the average of the per share closing bid prices of the common stock Common Stock on the 30 consecutive trading days immediately preceding the date in question, as reported by Nasdaq NASDAQ or an equivalent generally accepted reporting service, or (ii) if the common stock Common Stock is traded in the Nasdaq NASDAQ National Market System or on a national securities exchange, the average for the 30 consecutive trading days immediately preceding the date in question of the daily per share closing prices of the common stock Common Stock in the Nasdaq NASDAQ National Market System or on the principal stock national securities exchange on which it is listed, as the case may be. For purposes of clause (i) above, if trading in the common stock Common Stock is not reported by NasdaqNASDAQ, the bid price referred to in said clause shall be the lowest bid price as reported in the “"pink sheets” " published by the National Quotation Bureau, Incorporated. The closing price referred to in clause (ii) above shall be the last reported sale price or, in case no such reported sale takes place on such day, the average of the reported closing bid and asked prices, in either case in the Nasdaq NASDAQ National Market System or on the national securities exchange on which the common stock Common Stock is then listed.

Fractional Interests; Current Market Price. The Company shall not be required to issue fractional Shares on the exercise of any of the Warrants. If any fraction of a Warrant Share would, except for the provisions of this Section 1011, be issuable on the exercise of the Warrants (or any specified portion thereof being exercised), the Company shall pay to the Warrantholder, in lieu of the issuance of such fractional Warrant Share, an amount in cash equal to the then Current Market Price multiplied by such fraction. For purposes of this Agreement, the term “Current Market Price” shall mean (i) if the common stock Common Stock is traded in the over-the-counter market and not in the Nasdaq NASDAQ National Market System nor on any national securities exchange, the average of the per share closing bid prices of the common stock Common Stock on the 30 consecutive trading days immediately preceding the date in question, as reported by Nasdaq NASDAQ or an equivalent generally accepted reporting service, or (ii) if the common stock Common Stock is traded in the Nasdaq NASDAQ National Market System or on a national securities exchange, the average for the 30 consecutive trading days immediately preceding the date in question of the daily per share closing prices of the common stock Common Stock in the Nasdaq NASDAQ National Market System or on the principal stock exchange on which it is listed, as the case may be. For purposes of clause (i) above, if trading in the common stock Common Stock is not reported by NasdaqNASDAQ, the bid price referred to in said clause shall be the lowest bid price as reported in the “pink sheets” published by National Quotation Bureau, Incorporated. The closing price referred to in clause (ii) above shall be the last reported sale price or, in case no such reported sale takes place on such day, the average of the reported closing bid and asked prices, in either case in the Nasdaq NASDAQ National Market System or on the national securities exchange on which the common stock Common Stock is then listed.

Fractional Interests; Current Market Price. The Company shall not be required to issue fractional Warrant Shares on the exercise of any of the Warrants. If any fraction of a Warrant Share would, except for the provisions of this Section 109, be issuable on the exercise of the Warrants (or any specified portion thereof being exercised), the Company shall pay to the Warrantholder, in lieu of the issuance of such fractional Warrant Share, an amount in cash equal to the then Current Market Price multiplied by such fraction. For purposes of this Agreement, the term “Current Market Price” shall mean (i) if the common stock Common Stock is traded in the over-the-counter market and not in the Nasdaq NASDAQ National Market System nor on any national securities exchange, the average of the per share closing bid prices of the common stock Common Stock on the 30 consecutive trading days immediately preceding the date in question, as reported by Nasdaq NASDAQ or an equivalent generally accepted reporting service, or (ii) if the common stock Common Stock is traded in the Nasdaq NASDAQ National Market System or on a national securities exchange, the average for the 30 consecutive trading days immediately preceding the date in question of the daily per share closing prices of the common stock Common Stock in the Nasdaq NASDAQ National Market System or on the principal stock exchange on which it is listed, as the case may be. For purposes of clause (i) above, if trading in the common stock Common Stock is not reported by NasdaqNASDAQ, the bid price referred to in said clause shall be the lowest bid price as reported in the “pink sheets” published by National Quotation Bureau, Incorporated. The closing price referred to in clause (ii) above shall be the last reported sale price or, in case no such reported sale takes place on such day, the average of the last reported closing bid and asked prices, in either case in the Nasdaq NASDAQ National Market System or on the national securities exchange on which the common stock Common Stock is then listed.

Fractional Interests; Current Market Price. The Company shall not be required to issue fractional Shares on the exercise of any of the Warrants. If any fraction of a Warrant Share would, except for the provisions of this Section 108, be issuable on the exercise of the Warrants (or any specified portion thereof being exercisedthereof), the Company shall pay to the Warrantholder, in lieu of the issuance of such fractional Warrant Share, an amount in cash equal to the then Current Market Price multiplied by such fraction. For purposes of this Agreement, the term “"Current Market Price” " shall mean (i) if the common stock Common Stock is traded in the over-the-counter market NASDAQ SmallCap Market and not in the Nasdaq NASDAQ National Market System nor on any national securities exchange, the average average, of the per share closing bid prices of the common stock Common Stock on the 30 thirty (30) consecutive trading days immediately preceding the date in question, as reported by Nasdaq NASDAQ or an equivalent generally accepted reporting service, or (ii) if the common stock Common Stock is traded in the Nasdaq NASDAQ National Market System or on a national securities exchange, the average for the 30 thirty (30) consecutive trading days immediately preceding the date in question question, of the daily per share closing prices of the common stock Common Stock in the Nasdaq NASDAQ National Market System or on the principal stock exchange on which it is listed, as the case may be. For purposes of clause (i) above, if trading in the common stock Common Stock is not reported by NasdaqNASDAQ, the bid price referred to in said clause shall be the lowest bid price as reported in the “"pink sheets” " published by National Quotation Bureau, Incorporated. The closing price referred to in clause (ii) above shall be the last reported sale price or, in case no such reported sale takes place on such day, the average of the reported closing bid and asked prices, in either case in the Nasdaq NASDAQ National Market System or on the national securities exchange on which the common stock Common Stock is then listed. Section 10.

Fractional Interests; Current Market Price. The Company shall not be required to issue fractional Warrant Shares on the exercise of any of the Warrants. If any fraction of a Warrant Share would, except for the provisions of this Section 109, be issuable on the exercise of the Warrants (or any specified portion thereof being exercised), the Company shall pay to the Warrantholder, in lieu of the issuance of such fractional Warrant Share, an amount in cash equal to the then Current Market Price multiplied by such fraction. For purposes of this Agreement, the term “"Current Market Price” " shall mean (i) if the common stock Common Stock is traded in the over-the-counter market and not in the Nasdaq NASDAQ National Market System nor on any national securities exchange, the average of the per share closing bid prices of the common stock Common Stock on the 30 consecutive trading days immediately preceding the date in question, as reported by Nasdaq NASDAQ or an equivalent generally accepted reporting service, or (ii) if the common stock Common Stock is traded in the Nasdaq NASDAQ National Market System or on a national securities exchange, the average for the 30 consecutive trading days immediately preceding the date in question of the daily per share closing prices of the common stock Common Stock in the Nasdaq NASDAQ National Market System or on the principal stock exchange on which it is listed, as the case may be. For purposes of clause (i) above, if trading in the common stock Common Stock is not reported by NasdaqNASDAQ, the bid price referred to in said clause shall be the lowest bid price as reported in the “"pink sheets” " published by National Quotation Bureau, Incorporated. The closing price referred to in clause (ii) above shall be the last reported sale price or, in case no such reported sale takes place on such day, the average of the last reported closing bid and asked prices, in either case in the Nasdaq NASDAQ National Market System or on the national securities exchange on which the common stock Common Stock is then listed.

Fractional Interests; Current Market Price. The Company shall not be required to issue fractional Shares on the exercise of any of the Warrants. If any fraction of a Warrant Share would, except for the provisions of this Section 1011, be issuable on the exercise of the Warrants (or any specified portion thereof being exercised), the Company shall pay to the Warrantholder, in lieu of the issuance of such fractional Warrant Share, an amount in cash equal to the then Current Market Price multiplied by such fraction. For purposes of this Agreement, the term “Current Market Price” shall mean (i) if the common stock Common Stock is traded in the over-the-counter market and not in the Nasdaq NASDAQ National Market System nor on any national securities exchange, the average of the per share closing bid prices of the common stock Common Stock on the 30 consecutive trading days immediately preceding the date in question, as reported by Nasdaq NASDAQ or an equivalent generally accepted reporting service, or (ii) if the common stock Common Stock is traded in the Nasdaq NASDAQ National Market System or on a national securities exchange, the average for the 30 consecutive trading days immediately preceding the date in question of the daily per share closing prices of the common stock Common Stock in the Nasdaq NASDAQ National Market System or on the principal stock exchange on which it is listed, as the case may be. For purposes of clause (i) above, if trading in the common stock Common Stock is not reported by NasdaqNASDAQ, the bid price referred to in said clause shall be the lowest bid price as reported in the “pink sheets” published by National Quotation Bureau, Incorporated. The closing price referred to in clause (ii) above shall be the last reported sale price or, in case no such reported sale takes place on such day, the average of the reported closing bid and asked prices, in either case in the Nasdaq NASDAQ National Market System or on the national securities exchange on which the common stock Common Stock is then listed.