Common use of Fractional Shares Clause in Contracts

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value of the Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of Directors.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value of the Common Stock on the date of exercise as reasonably determined in good faith by the Company's ’s Board of Directors.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in . In lieu of such fractional shares the Company shall make a cash payment therefor based on upon the fair market value of the Common Stock on the date of exercise as reasonably determined Exercise Price then in good faith by the Company's Board of Directorseffect.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on upon the fair market value basis of the Common Stock on the date of exercise as reasonably determined Warrant Price then in good faith by the Company's Board of Directorseffect.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on upon the fair market value basis of the Common Stock on the date Fair Market Value of exercise as reasonably determined in good faith by the Company's Board of Directorssuch Shares.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value (as determined in accordance with Section 4(g) above) of the a share of Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of Directorsexercise.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value (as determined in accordance with Section 4(j) above) of the a share of Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of Directorsexercise.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on upon the fair market value basis of the Common Stock on the date of exercise as reasonably determined Exercise Price then in good faith by the Company's Board of Directorseffect.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in . In lieu of such fractional shares the Company shall make a cash payment therefor based on upon the fair market value of the Common Warrant Stock on the date of exercise then in effect as reasonably determined in good faith by the Company's Board of Directors.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value (as determined in accordance with Section 4(c) hereof) of the a share of Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of Directorsexercise.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value Fair Market Value of the a share of Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of Directorsexercise.

Fractional Shares. No fractional shares of Common Stock will be ----------------- issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on upon the fair market value basis of the Common Stock on the date of exercise as reasonably determined Exercise Price then in good faith by the Company's Board of Directorseffect.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor therefore based on the fair market value of the Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of Directors.

Fractional Shares. No fractional shares of Common Stock will shall be issued in connection with any exercise hereunderof this Warrant, but in lieu of such fractional shares shares, the Company shall make a cash payment therefor based on equal in amount to the fair market value product of the Common Stock on the date of exercise as reasonably determined in good faith applicable fraction multiplied by the Company's Board of DirectorsExercise Price then in effect.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares thereof, the Company shall make a cash payment therefor based on upon the fair market value basis of the Common Stock on the date of exercise as reasonably determined Exercise Price then in good faith by the Company's Board of Directorseffect.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on upon the per share fair market value of the Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of Directorsexercise.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares thereof the Company shall make a cash payment therefor based on upon the fair market value basis of the Common Stock on the date of exercise as reasonably determined Exercise Price then in good faith by the Company's Board of Directorseffect.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in . In lieu of such fractional shares the Company shall make a cash payment therefor based on upon the fair market value of the Common Stock on the such date of exercise as reasonably determined in good faith by the Company's board of directors of the Company (the “Board of Directors”).

Fractional Shares. No fractional shares of Common Stock will shall be issued in connection with any exercise or cashless exercise hereunder, but and in lieu of any such fractional shares the Company shall make a cash payment therefor to the Holder (or such other person or persons as directed by the Holder, subject to compliance with all applicable laws) based on the fair market value Fair Market Value of the a share of Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board or cashless exercise of Directorsthis Warrant.

Fractional Shares. No fractional shares of Common Stock common stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares of common stock, the Company shall make a cash payment therefor based on the fair market value closing price or last sale price of a share of common stock reported for the Common Stock on business day immediately before the date of exercise Exercise Date or as reasonably determined in good faith by the Company's ’s Board of Directors.

Fractional Shares. No fractional shares of Common Stock will are to be issued in connection with any upon the exercise hereunderof the Warrant, but in lieu of such fractional shares the Company shall make pay a cash payment therefor based on adjustment in respect of any fraction of a share which would otherwise be issuable in an amount equal to the fair market value same fraction of the market price per share of Common Stock on the date day of exercise as reasonably determined in good faith by the Company's Board of Directors.

Fractional Shares. No fractional shares of Common Stock will shall be issued in connection with any exercise or cashless exercise hereunder, but and in lieu of any such fractional shares the Company Corporation shall make a cash payment therefor to the Holder (or such other person or persons as directed by the Holder, subject to compliance with all applicable laws) based on the fair market value Fair Market Value of the a share of Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board or cashless exercise of Directorsthis Warrant.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value of the Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of Directorsexercise.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in . In lieu of such fractional shares the Company shall make a cash payment therefor based on upon the fair market value of the Common Stock on the such date of exercise as reasonably determined in good faith by the Company's board of directors of the Company (the "Board of Directors").

Fractional Shares. No fractional shares of Common Stock will be ----------------- issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on upon the fair market value basis of the Common Stock on the date current market price of exercise such Shares then in effect as reasonably determined in good faith by the Company's Board of Directors.

Fractional Shares. No fractional shares Shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares Shares the Company shall make a cash payment therefor based on equal to the fair market value excess of the Common Stock on the date average daily closing price of exercise as reasonably determined in good faith by the Company's Board of Directors’s common stock for the twenty (20) business days prior to the exercise date for such fractional shares above the Warrant Price for such fractional share.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunderhereof, but in lieu of such fractional shares shares, the Company Corporation shall make a cash payment therefor based on equal in amount to the fair market value product of the Common Stock on the date of exercise as reasonably determined in good faith applicable fraction multiplied by the Company's Board of DirectorsWarrant Price.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on upon the fair market value basis of the Common Stock on the date of exercise as reasonably determined Value at Exercise then in good faith by the Company's Board of Directorseffect.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares shares, the Company shall make a cash payment therefor based on upon the fair market value basis of the Common Stock on the date of exercise as reasonably determined Warrant Price then in good faith by the Company's Board of Directorseffect.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value (as determined in accordance with Section 4(h) above) of the a share of Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of Directorsexercise.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise or conversion hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value of the Common Stock on the date of exercise or conversion as reasonably determined in good faith by the Company's ’s Board of Directors.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, hereunder but in lieu of such fractional shares the Company shall make a cash payment refund therefor based on equal in amount to the fair market value product of the Common Stock on the date of exercise as reasonably determined in good faith applicable fraction multiplied by the Company's Board of DirectorsExercise Price paid by the Holder for one Warrant Share upon such exercise.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in . In lieu of such fractional shares the Company shall make a cash payment therefor based on upon the fair market value Fair Market Value of the Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of DirectorsStock.

Fractional Shares. No fractional shares of Common Stock will be issued ----------------- in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on upon the fair market value basis of the Common Stock on the date of exercise as reasonably determined Warrant Price then in good faith by the Company's Board of Directorseffect.

Fractional Shares. No fractional shares of Common Stock will shall be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company Corporation shall make a cash payment therefor based on the fair market value Fair Market Value of the Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of Directorsexercise.

Fractional Shares. No fractional shares of Common Stock will be ----------------- issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value of the Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of Directors.

Fractional Shares. No fractional shares of Common Stock will are to be issued in connection with any upon the exercise hereunderof this Warrant, but in lieu of such fractional shares share, the Company shall make a cash payment therefor based on equal to the fair market value of the Common Stock on the date of exercise as reasonably determined Exercise Price then in good faith effect multiplied by the Company's Board of Directorssuch fractional share.

Fractional Shares. No fractional shares of Common Stock common stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based upon the closing price of the common stock as reported on the fair market value of the Common Stock Nasdaq National Market on the trading day immediately prior to the date of exercise as reasonably determined in good faith by the Exercise Notice is delivered to the Company's Board of Directors.

Fractional Shares. No fractional shares of Common Stock will be ----------------- issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on upon the fair market value basis of the Common Stock on the date of exercise as reasonably determined Warrant Price then in good faith by the Company's Board of Directorseffect.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value of the a share of Common Stock on the date of exercise as reasonably determined in good faith by exercise, or round up to the next whole number of shares, at the Company's Board of Directors’s option.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the product resulting from multiplying the then fair market value of the Common Stock on the date of exercise as reasonably determined in good faith by the Company's ’s Board of DirectorsDirectors by such fraction.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value of the Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of Directorsaccordance with Section 2(c).

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise or conversion hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on upon the fair market value basis of the Common Stock on the date of exercise as reasonably determined Warrant Price then in good faith by the Company's Board of Directorseffect.

Fractional Shares. No fractional shares of Common Stock will shall be issued in connection with any exercise or cashless exercise hereunder, but and in lieu of any such fractional shares the Company shall make a cash payment therefor to the Holder (or such other person or persons as directed by the Holder) based on the fair market value Fair Market Value of the a share of Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board or cashless exercise of Directorsthis Warrant.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in . In lieu of such fractional shares the Company shall make a cash payment therefor based on upon the fair market value of the Common Stock on the such date of exercise as reasonably determined in good faith by the board of directors of the Company's Board of Directors.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the product resulting from multiplying the then fair market value of the Common Stock (as determined pursuant to Section 9(c) below) on the date of exercise as reasonably determined in good faith by the Company's Board of Directorssuch fraction.

Fractional Shares. No fractional shares of Common Stock will be issued ----------------- in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on upon the fair market value basis of the Common Stock on the date of exercise as reasonably determined Exercise Price then in good faith by the Company's Board of Directorseffect.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, hereunder but in lieu of such fractional shares shares, the Company shall make a cash payment therefor based on upon the fair market value basis of the Current Market Value (as defined below) of the Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of DirectorsStock.

Fractional Shares. No fractional shares of Common Stock will be issued ------------------ in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value (as determined in accordance with Section 4(g) above) of the a share of Common Stock on the date of exercise as reasonably determined in good faith by exercise, or round up to the next whole number of shares, at the Company's Board of Directorsoption.

Fractional Shares. No fractional shares of Common Stock Shares will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on upon the fair market value basis of the Common Stock on the date of exercise as reasonably determined Warrant Price then in good faith by the Company's Board of Directorseffect.

Fractional Shares. No fractional shares of Common Stock will shall be issued in connection with any exercise hereunder, but and in lieu of any such fractional shares the Company shall make a cash payment therefor to the Holder (or such other person or persons as directed by the Holder, subject to compliance with all applicable laws) based on the fair market value Fair Market Value of the a share of Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of Directorsthis Warrant.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value (as determined in accordance with Section 4(f) above) of the a share of Common Stock on the date of exercise as reasonably determined in good faith by exercise, or round up to the next whole number of shares, at the Company's Board of Directors’s option.

Fractional Shares. No In the event Shareholder Approval has been obtained and shares of Common Stock are to be issued upon the exercise of this warrant, no fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the product resulting from multiplying the then fair market value of the Common Stock on the date of exercise as reasonably determined in good faith by the Company's ’s Board of DirectorsDirectors by such fraction.

Fractional Shares. No fractional shares of Common Stock will shall be issued in connection with any exercise hereunder, but and in lieu of any such fractional shares the Company shall make a cash payment therefor to the Holder (or such other person or persons as directed by the Holder) based on the fair market value Fair Market Value of the a share of Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of Directorsthis Warrant.

Fractional Shares. No fractional shares of Common Stock will be issued ----------------- in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value of the Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of Directorsaccordance with Section 10.2(c)(ii) or 10.2(c)(iii), as applicable.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value of the a share of Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of Directors.on

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value (as determined in accordance with Section 4.i. above) of the a share of Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of Directorsexercise.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares shares, the Company shall make a cash payment therefor based on the fair market value of the Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of Directorsexercise.

Fractional Shares. No fractional shares of the Common Stock will shall be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on upon the fair market value basis of the Common Stock on the date of exercise as reasonably determined Exercise Price then in good faith by the Company's Board of Directorseffect.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on upon the fair market value basis of the Common Stock on the date current market price of exercise such Shares then in effect as reasonably determined in good faith by the Company's ’s Board of Directors.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in . In lieu of such any remaining fractional share that may exist after aggregating all fractional shares for any Holder, the Company shall make a may pay an amount of cash payment therefor based on to such Holder equal to the fair market value of the Common Stock on the date of exercise as reasonably determined in good faith fraction multiplied by the Company's Board Fair Market Value of Directorsa share of Common Stock.

Fractional Shares. No fractional shares of Common Stock will be ------------------ issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value (as determined in accordance with Section 4(j) above) of the a share of Common ------------ Stock on the date of exercise as reasonably determined in good faith by the Company's Board of Directorsexercise.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value (as determined in accordance with Section 4(i) above) of the a share of Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of Directorsexercise.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on upon the basis of the Warrant Price then in effect and the fair market value of the Common Stock on the date of exercise a full share as reasonably determined in good faith for this purpose by the Company's Board of Directors.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares shares, the Company shall make a cash payment therefor based on upon the fair market value basis of the Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of DirectorsWarrant Price.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in . In lieu of such fractional shares shares, the Company shall make a cash payment therefor based on upon the fair market value Fair Market Value of the such Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of Directorsexercise.

Fractional Shares. No fractional shares of Common Stock will shall be issued in connection with any upon exercise hereunder, but in of the Warrants. In lieu of such fractional shares shares, the Company shall make a cash payment therefor based on the fair market value of the Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of DirectorsDirectors of the Company. If more than one Warrant shall be exercised at or about the same time by the same Holder, the number of full shares of Common Stock issuable upon exercise shall be computed on the basis of the aggregate number of Warrants exercised.

Fractional Shares. No fractional shares of Common Stock will be ------------------ issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value (as determined in accordance with Section 4(j) above) of the a share of Common ------------ Stock on the date of exercise as reasonably determined in good faith by exercise, or round up to the next whole number of shares, at the Company's Board of Directorsoption.

Fractional Shares. No fractional shares of Common Stock will are to be issued in connection with any exercise hereunderupon the Warrant Exercise, but in lieu of such fractional shares the Company shall make pay a cash payment therefor based on adjustment in respect of any fraction of a share which would otherwise be issuable in an amount equal to the fair market value same fraction of the market price per share of Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of Directors.

Fractional Shares. No fractional shares of Common Stock will be issued ------------------ in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value (as determined in accordance with Section 4(j) above) of the a share of Common Stock ------------ on the date of exercise as reasonably determined in good faith by exercise, or round up to the next whole number of shares, at the Company's Board of Directorsoption.

Fractional Shares. No fractional shares of Common Stock will be issued ------------------ in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value (as determined in accordance with Section 4(g) above) of the a share of Common Stock ------------ on the date of exercise as reasonably determined in good faith by exercise, or round up to the next whole number of shares, at the Company's Board of Directorsoption.

Fractional Shares. No fractional shares of Common Stock will be ----------------- issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value (as determined in accordance with Section 4(h) above) of the a share of Common ------------ Stock on the date of exercise as reasonably determined in good faith by the Company's Board of Directorsexercise.

Fractional Shares. No fractional shares of Common Stock will be ----------------- issued in connection with any exercise hereunder, hereunder but in lieu of such fractional shares shares, the Company shall make a cash payment therefor based on upon the basis of the fair market value of the Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of Directorssuch exercise.

Fractional Shares. No fractional shares of Common Stock will be issued ----------------- in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value of the Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of Directors.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares thereof the Company shall make a cash payment therefor based on upon the fair market value basis of the Common Stock on the date of exercise as reasonably determined Exercise Price then in good faith by the Company's Board of Directors.effect

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on equal in amount to the fair market value product of the applicable fraction multiplied by the current market price per share of Common Stock on the date of exercise as reasonably determined then in good faith by the Company's Board of Directorseffect.

Fractional Shares. No fractional shares of Common Stock will be issued ------------------ in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value of the a share of Common Stock on the date of exercise as reasonably determined in good faith by exercise, or round up to the next whole number of shares, at the Company's Board of Directorsoption.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares thereof the Company shall make a cash payment therefor based on upon the fair market value basis of the Common Stock on the date of exercise as reasonably determined Exercise Price then in good faith by the Company's Board of Directorseffect. .

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value of the Common Stock (as determined under Section 2(b) above) on the date of exercise as reasonably determined in good faith by the Company's Board of Directorsexercise.

Fractional Shares. No fractional shares of the Common Stock will be issued in connection with any exercise hereunderof this Warrant, but in lieu of such fractional shares the Company shall make a cash payment therefor based on upon the fair market value basis of the Common Stock on the date of exercise as reasonably determined Exercise Price then in good faith by the Company's Board of Directorseffect.

Fractional Shares. No fractional shares of Common Stock will be ----------------- issued in connection with any exercise hereunder, but in . In lieu of such fractional shares the Company shall make a cash payment therefor based on upon the fair market value of the Common Stock on the date of exercise as reasonably determined Exercise Price then in good faith by the Company's Board of Directorseffect.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in . In lieu of such fractional shares shares, the Company shall make a cash payment therefor based on upon the fair market value Fair Market Value of one share of Common Stock of the Common Stock Company on the date of exercise as reasonably determined in good faith by the Company's Board of Directorssuch exercise.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunderhereunder but, but in lieu of such fractional shares shares, the Company Corporation shall make a cash payment therefor based on upon the fair market value basis of the Fair Market Value of the Common Stock on at the date time of exercise as reasonably determined in good faith by the Company's Board of Directorssuch exercise.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunderof this Warrant, but in lieu of such fractional shares the Company shall make a cash payment therefor based on upon the per share fair market value of the Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of Directorsexercise.

Fractional Shares. No fractional shares of Common Stock will shall be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value of the Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of Directors.

Fractional Shares. No In no event shall any fractional shares share of Common Stock will be issued in connection with upon any exercise hereunder, but in of this Warrant. In lieu of such fractional shares the Company shall make a cash payment therefor based on upon the fair market value of the Common Stock on the date of exercise as reasonably determined Exercise Price then in good faith by the Company's Board of Directorseffect.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, of this Warrant hereunder but in lieu of such fractional shares shares, the Company shall make a cash payment therefor based on upon the fair market value basis of the Common Stock on the date of exercise as reasonably determined Exercise Price then in good faith by the Company's Board of Directorseffect.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value (as determined in accordance with Section 4(i) hereof) of the a share of Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of Directorsexercise.

Fractional Shares. No fractional shares of Common Stock will shall be issued in connection with the exercise of any exercise Warrants hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on upon the fair market value basis of the Common Average Stock on Price as of the date of exercise as reasonably determined in good faith by the Company's Board of DirectorsExercise Date.

Fractional Shares. No fractional shares of Common Stock will be ----------------- issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value of the a share of Common Stock on the date of exercise as reasonably determined in good faith by exercise, or round up to the next whole number of shares, at the Company's Board of Directorsoption.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value (as mutually determined by the Company and the Holder) of the Common Stock on the date of exercise as reasonably determined exercise/in good faith an amount equal to such fraction multiplied by the Company's Board of DirectorsWarrant Price.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company Corporation shall make a cash payment therefor based on upon the fair market value basis of the Common Stock on the date of exercise as reasonably determined Warrant Price then in good faith by the Company's Board of Directorseffect.

Fractional Shares. No fractional shares of Common Stock common stock will be issued ----------------- in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based upon the closing price of the common stock as reported on the fair market value of the Common Stock NASDAQ National Market on the trading day immediately prior to the date of exercise as reasonably determined in good faith by the Exercise Notice is delivered to the Company's Board of Directors.

Fractional Shares. No fractional shares of Common Stock will be ------------------ issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value (as determined in accordance with Section 4(j) above) of the a share of Common Stock on the date of exercise as reasonably determined in good faith by the Company's Board of Directorsexercise.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on upon the basis of the fair market value of the a share of Common Stock on as of the date of exercise as reasonably determined in good faith by the Company's Board of Directorsexercise.

Fractional Shares. No fractional shares of Common Stock will be issued ------------------ in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value (as determined in accordance with Section 4(g) above) of the a share of Common Stock ----------- on the date of exercise as reasonably determined in good faith by exercise, or round up to the next whole number of shares, at the Company's Board of Directorsoption.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value (as determined in accordance with Section 4(j) above) of the a share of Common Stock on the date of exercise as reasonably determined in good faith by exercise, or round up to the next whole number of shares, at the Company's Board of Directors’s option.

Fractional Shares. No fractional shares of Common Stock will be ------------------ issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company shall make a cash payment therefor based on the fair market value (as determined in accordance with Section 4(j) above) of the a share of Common ----------- Stock on the date of exercise as reasonably determined in good faith by the Company's Board of Directorsexercise.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in . In lieu of such fractional shares shares, the Company shall make a cash payment therefor based on equal to the fair market value of the Common Stock on the date of exercise as reasonably determined in good faith Current Market Value multiplied by the Company's Board of Directorssuch fraction.

Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise hereunder, but in . In lieu of such fractional shares shares, the Company shall make a cash payment therefor based on upon the fair market value of the Common Stock on the date of exercise as reasonably determined Exercise Price then in good faith by the Company's Board of Directorseffect.