ISSUANCE OF WARRANT TO LENDER. As additional consideration for the making of the Loans under the Agreement, upon the making of, and as a condition to, the initial Loan, Lender shall be entitled to receive a warrant to purchase 5,180 shares of preferred stock of Borrower ("Warrant Shares") with an aggregate initial exercise price of $24,501.40 determined on the basis of a per share exercise price of $4.73. The warrant issued under this Agreement shall be in substantially the form attached hereto as EXHIBIT "C"; shall be transferable by Lender, subject to compliance with applicable securities laws; shall expire not earlier than December 31, 2002; and shall include piggy-back registration rights, "net issuance" provisions, and anti-dilution protections reasonably satisfactory to Lender and its counsel.
ISSUANCE OF WARRANT TO LENDER. As additional consideration for the making of the Loans under the Loan and Security Agreement, upon the making of, and as a condition to, the initial Loan, Lender shall be entitled to receive a warrant to purchase a number of shares of Series B Preferred Stock of Borrower ("Warrant Shares") with an aggregate initial exercise price of $50,000 determined on the basis of the per share price of such preferred stock in the next round of equity financing after the Closing Date; provided that if no such equity financing has occurred by June 30, 1999, then the initial per share exercise price shall be $8.00 (pre 4 for 1 split). The warrant shall vest for additional shares with a value equal to 5% of any fundings under the Equipment facility in excess of $1,000,000 and 10% of any fundings under the Working Capital facility. The warrant issued under this Agreement shall be substantially the form attached hereto as Exhibit "C"; shall be transferable by Lender, subject to compliance with applicable securities laws; shall expire on June 30, 2006; and shall include piggy-back registration rights, "net issuance" provisions, and anti-dilution protections reasonably satisfactory to Lender and its counsel.
ISSUANCE OF WARRANT TO LENDER. As additional consideration for the making of the Loans under the Loan and Security Agreement, upon the making of, and as a condition to, the initial Loan, Lender shall be entitled to receive a warrant to purchase 20,808 shares of Series A Preferred Stock of Borrower at a per share exercise price of $8.41; provided that if Series B Preferred Stock of the Borrower is issued and sold prior to June 30, 1999, then such warrant shall be exercisable at an initial exercise price equal to the per share price of such Series B Preferred Stock sold by the Borrower on the closing of such sale, and for a number of shares of Series B Preferred Stock having an aggregate exercise price of $175,000.00 (such shares of Series A or Series B Preferred Stock being "Warrant Shares"). With each availability of the remaining $1 million in Term Loans, the warrant shall vest, for additional Warrant Shares with a value equal to $50,000. With each funding of a Term Loan, the warrant shall vest, from time to time, for additional Warrant Shares with a value equal to 5% of the principal amount of the Term Loan. The warrant issued under this Agreement shall be in substantially the form attached hereto as Exhibit "C"; shall be transferable by Lender, subject to compliance with applicable securities laws; shall expire on June 30, 2006; and shall include piggy-back registration rights, "net issuance" provisions, and anti-dilution protections reasonably satisfactory to Lender and its counsel.
ISSUANCE OF WARRANT TO LENDER. As additional consideration for the making of the Loans under this Agreement, upon the making of the first Loan and as a condition thereto, Borrower shall issue to Lender a warrant to purchase 186,652 shares of common stock of Borrower at an initial exercise price of $4.42 per share ("Warrant Shares"). The warrant issued under this Agreement shall be in substantially the form attached hereto as Exhibit "D"; shall be transferable by Lender, subject to compliance with applicable securities laws; shall expire not earlier than December 31, 2003; and shall include piggy-back registration rights, and "net issuance" provisions reasonably satisfactory to Lender and its counsel.
ISSUANCE OF WARRANT TO LENDER. As additional consideration for the making of the Commitment, Lender has earned and is entitled to receive on the Closing Date, a warrant instrument issued by Borrower (the “Warrant”) initially exercisable for 255,102 fully paid and nonassessable shares of Borrower’s Series C preferred stock, at an initial exercise price of $1.96 per share, provided, however, if the Next Round Purchase Price is less than $1.96, Lender may elect to exercise the Warrant for the Borrower’s Next Round Preferred Stock equal to that number of fully paid and nonassessable shares of the Borrower’s Next Round Preferred Stock at the Next Round Purchase Price, having an aggregate initial exercise price equal to $500,000. The Warrant shall be in substantially the form attached hereto as Exhibit “D” and shall be exercisable at any time and from time to time through January 31, 2012, and shall include piggyback and S-3 registration rights, net issuance provisions and anti-dilution protections reasonably satisfactory to Lender and equivalent to those rights and protections granted to the holders of Series C Preferred Stock of the Borrower. Borrower acknowledges that Lender has assigned its rights to receive the Warrant to its parent, Venture Lending & Leasing IV, LLC; in connection therewith, Borrower shall issue the Warrant directly to Venture Lending & Leasing IV, LLC. Upon request of Borrower, Lender shall furnish to Borrower a copy of the agreement in which Lender assigned the Warrant to Venture Lending & Leasing IV, LLC.
ISSUANCE OF WARRANT TO LENDER. As additional consideration for the making of the Commitment, Lender shall be issued a warrant issued by Borrower (the “Warrant”) initially exercisable for 140,000 of fully paid and nonassessable shares of the Borrower’s Series B Preferred Stock. The Warrant shall be in substantially the form attached hereto as Exhibit “D” and shall be exercisable at any time and from time to time through December 31, 2014. Borrower acknowledges that Lender has assigned its rights to receive the Warrant to its parent, Venture Lending & Leasing III, LLC; in connection therewith, Borrower shall issue the Warrant directly to Venture Lending & Leasing III, LLC. Upon request of Borrower, Lender shall furnish to Borrower a copy of the agreement in which Lender assigned the Warrant to Venture Lending & Leasing III, LLC.
ISSUANCE OF WARRANT TO LENDER. As additional consideration for the making of the Loans under the Agreement, upon the making of, and as a condition to, the initial Loan, Lender shall be entitled to receive a warrant to purchase 35,000 shares of Series D Preferred Stock of Borrower ("Warrant Shares") with an aggregate initial exercise price of $140,000 and a per share exercise price of $4.00 which is determined on the basis of the per share price of the preferred stock issued in the most recent round of venture capital equity financing prior to the Closing Date. The warrant under this Agreement shall be in substantially the form attached hereto as Exhibit "D"; shall be transferable by Lender, subject to compliance with applicable securities laws; shall expire not earlier than December 31, 2004; and shall include piggy-back registration rights, "net issuance" provisions, and anti-dilution protections reasonably satisfactory to Lender and its counsel.
ISSUANCE OF WARRANT TO LENDER. Borrower agrees to execute and deliver to Lender at closing a warrant, on mutually acceptable terms and conditions, whereby Lender will be able to purchase up to 10,000 shares of the common stock of Borrower at a price of twelve dollars ($12.00) per share. Borrower shall also deliver a customary corporate resolution to authorize the execution and delivery of the warrant to Lender.
ISSUANCE OF WARRANT TO LENDER. As additional consideration for the making of the Loans under this Agreement, upon the making of, and as a condition to, the initial Loan, Lender shall be entitled to receive a warrant to purchase a number of shares of common stock of Borrower ("Warrant Shares") with a value equal to five percent (5%) of the Commitment, determination at the per share ---- price of such Common stock. The warrant issued under this Agreement shall be in substantially the form attached hereto as Exhibit "D"; shall be transferable by ----------- Lender, subject to compliance with applicable securities laws; shall expire not earlier than October 10, 2003; and shall include piggy-back registration rights equal to other investors of the Series "C" preferred stock, "net issuance" provisions, and anti-dilution protections reasonably satisfactory to Lender and its counsel.
ISSUANCE OF WARRANT TO LENDER. As additional consideration for the making of the Loans under this Agreement, upon the making of, and as a condition to, the initial Loan, Lender shall be entitled to receive a warrant to purchase 125,000 shares of Series Dl Preferred Stock of Borrower ("Warrant Shares") with a per share price equal to $2.85. The warrant issued under this Agreement shall be in substantially the form attached hereto as Exhibit "D". -----------
