Common use of Fractional Shares; Partial Conversion Clause in Contracts

Fractional Shares; Partial Conversion. No fractional shares shall be issued upon conversion of Series A Convertible Preferred Stock into Common Stock and no payment or adjustment shall be made upon any such conversion with respect to any cash dividends previously payable on the Common Stock issued upon such conversion. In case the number of shares of Series A Convertible Preferred Stock represented by the certificate or certificates surrendered pursuant to paragraph 5A exceeds the number of shares converted, the Corporation shall, upon such conversion, execute and deliver to the holder, at the expense of the Corporation, a new certificate or certificates for the number of shares of Series A Convertible Preferred Stock represented by the certificate or certificates surrendered which are not to be converted. If any fractional share of Common Stock would, except for the provisions of the first sentence of this xxxxxxxxx 0X, xx delivered upon such conversion, the Corporation, in lieu of delivering such fractional share, shall pay to the holder surrendering the Series A Convertible Preferred Stock for conversion an amount in cash equal to the current market price of such fractional share as determined in good faith by the Board of Directors of the Corporation, and based upon the aggregate number of shares of Series A Convertible Preferred Stock surrendered by any one holder.

Fractional Shares; Partial Conversion. No fractional shares shall be issued upon conversion of Series A Convertible Preferred Stock into Common Stock and no payment or adjustment shall be made upon any such conversion with respect to on account of any cash dividends previously payable on the Common Stock issued upon such conversion. In case the number of shares of Series A Convertible Preferred Stock represented by the certificate or certificates surrendered pursuant to paragraph 5A Section 6(a) exceeds the number of shares converted, the Corporation shall, upon such conversion, execute and deliver to the holder, at the expense of the Corporation, a new certificate or certificates for the number of shares of Series A Convertible Preferred Stock represented by the certificate or certificates surrendered which that are not to be converted. If any fractional share of Common Stock would, except for the provisions of the first sentence of this xxxxxxxxx 0XSection 6(c), xx be delivered upon such conversion, and based upon the aggregate number of shares of Series A Preferred Stock surrendered by any one holder, the Corporation, in lieu of delivering such fractional share, shall pay to the holder surrendering the Series A Convertible Preferred Stock for conversion an amount in cash equal to the current market price of such fractional share as determined in good faith by the Board of Directors of the Corporation, and based upon the aggregate number of shares of Series A Convertible Preferred Stock surrendered by any one holder.

Fractional Shares; Partial Conversion. No fractional shares shall be issued upon conversion of Series A B Convertible Preferred Stock into Common Stock and no payment or adjustment shall be made upon any such conversion with respect to on account of any cash dividends previously payable on the Common Stock issued upon such conversion. In case the number of shares of Series A B Convertible Preferred Stock represented by the certificate or certificates surrendered pursuant to paragraph 5A 4A exceeds the number of shares converted, the Corporation shall, upon such conversion, execute and deliver to the holder, at the expense of the Corporation, a new certificate or certificates for the number of shares of Series A B Convertible Preferred Stock represented by the certificate or certificates surrendered which are not to be converted. If any fractional share of Common Stock would, except for the provisions of the first sentence of this xxxxxxxxx 0X, xx delivered upon such conversion, the Corporation, in lieu of delivering such fractional share, shall pay to the holder surrendering the Series A B Convertible Preferred Stock for conversion an amount in cash equal to the current market price of such fractional share as determined in good faith by reference to the Board of Directors closing price of the Corporation's Common Stock on the Nasdaq SmallCap Market (or such other quotation system or securities exchange upon which the Corporation's Common Stock is then traded) on the Conversion Date, and based upon the aggregate number of shares of Series A B Convertible Preferred Stock surrendered by any one holderholder of conversion into Common Stock.