Common use of Liquidation; Dissolution Clause in Contracts

Liquidation; Dissolution. If the Company shall dissolve, ------------------------- liquidate or wind up its affairs, the Holder shall have the right, but not the obligation, to exercise this Warrant effective as of the date of such dissolution, liquidation or winding up. If any such dissolution, liquidation or winding up results in any cash distribution to the Holder in excess of the aggregate Purchase Price for the shares of Common Stock for which this Warrant is exercisable, then the Holder may, at its option, exercise this Warrant without making payment of such aggregate Purchase Price and, in such case, the Company shall, upon distribution to the Holder, consider such aggregate Purchase Price to have been paid in full, and in making such settlement to the Holder, shall deduct an amount equal to such aggregate Purchase Price from the amount payable to the Holder.

Liquidation; Dissolution. If the Company shall dissolve, ------------------------- liquidate or wind up its affairs, the Registered Holder shall have the right, but not the obligation, to exercise this Warrant Option effective as of the date of such dissolution, liquidation or winding up. If any such dissolution, liquidation or winding up results in any cash distribution to the Registered Holder in excess of the aggregate portion of the Purchase Price for the shares of Common Option Stock for which this Warrant Option is exercisableexercised, then the Registered Holder may, at its option, exercise this Warrant Option without making payment of such aggregate portion of the Purchase Price and, in such case, the Company shall, ,upon distribution to the Registered Holder, consider such aggregate portion of the Purchase Price to have been paid in full, and in making such settlement to the Registered Holder, shall deduct an amount equal to such aggregate portion of the Purchase Price from the amount payable to the Registered Holder.

Liquidation; Dissolution. If the Company shall dissolve, ------------------------- liquidate or wind up its affairs, the Registered Holder shall have the right, but not the obligation, to exercise this Warrant effective as of the date of such dissolution, liquidation or winding up. If any such dissolution, liquidation or winding up results in any cash distribution to the Registered Holder in excess of the aggregate portion of the Purchase Price for the shares of Common Warrant Stock for which this Warrant is exercisableexercised, then the Registered Holder may, at its optionWarrant, exercise this Warrant without making payment of such aggregate portion of the Purchase Price and, in such case, the Company shall, upon distribution to the Registered Holder, consider such aggregate portion of the Purchase Price to have been paid in full, and in making such settlement to the Registered Holder, shall deduct an amount equal to such aggregate portion of the Purchase Price from the amount payable to the Registered Holder.

Liquidation; Dissolution. If the Company shall dissolve, ------------------------- liquidate or wind up its affairs, the Registered Holder shall have the right, but not the obligation, to exercise this Warrant Option effective as of the date of such dissolution, liquidation or winding up. If any such dissolution, liquidation or winding up results in any cash distribution to the Registered Holder in excess of the aggregate portion of the Purchase Price for the shares of Common Option Stock for which this Warrant Option is exercisableexercised, then the Registered Holder may, at its option, exercise this Warrant Option without making payment of such aggregate portion of the Purchase Price and, in such case, the Company shall, upon distribution to the Registered Holder, consider such aggregate portion of the Purchase Price to have been paid in full, and in making such settlement to the Registered Holder, shall deduct an amount equal to such aggregate portion of the Purchase Price from the amount payable to the Registered Holder.