Common use of Fractional Shares of Common Stock Clause in Contracts

Fractional Shares of Common Stock. The Company shall not be required to issue fractional shares of Common Stock on the exercise of Warrants. If more than one (1) Warrant shall be exercised in full at the same time by the same Holder, the number of full shares of Common Stock which shall be issuable upon such exercise shall be computed on the basis of the aggregate number of shares of Common Stock which may be purchasable pursuant thereto. If any fraction of a shares of Common Stock would, except for the provisions of this Section 3.07, be issuable upon the exercise of any Warrant (or specified portion thereof), the Company shall be entitled to pay an amount in cash equal to the Current Market Value per share of Common Stock, as determined on the day immediately preceding the date the Warrant is presented for exercise, multiplied by such fraction, computed to the nearest whole cent.

Fractional Shares of Common Stock. The Company shall not be required to issue fractional shares of Common Stock on the exercise of Warrants. If more than one (1) Warrant shall be exercised in full at the same time by the same Holder, the number of full shares of Common Stock which shall be issuable upon such exercise shall be computed on the basis of the aggregate number of shares of Common Stock which may be purchasable pursuant thereto. If any fraction of a shares share of Common Stock would, except for the provisions of this Section 3.073.06, be issuable upon the exercise of any Warrant (or specified portion thereof), the Company shall be entitled to will pay an amount in cash equal to the Current Market Value per share of Common Stock, as determined on the day Business Day immediately preceding the date the Warrant is presented for exercise, multiplied by such fractionfraction of a share of Common Stock, computed to the nearest whole cent.