Common use of Method of Exchange Clause in Contracts

Method of Exchange. The Exchange Right may be exercised by the Holder by the surrender of this Warrant at the principal office of the Company (the date of such surrender, the "Exchange Date") together with a written statement specifying that the Holder thereby intends to exercise the Exchange Right, indicating the number of shares subject to this Warrant that are being surrendered (referred to in Section 7.1 hereof as the Exchanged Warrant Shares) in exercise of the Exchange Right and specifying whether the Holder has elected to pay the exchange price (i) in shares of Common Stock owned by the Holder (in which case the Holder shall surrender a number of shares having a Fair Market Value equal to the aggregate Warrant Price of the Exchanged Warrant Shares) or (ii) in shares of Common Stock to be issued upon exchange of this Warrant. Certificates for the Shares issuable upon exercise of the Exchange Right (or any other securities deliverable in lieu thereof under Section 2) shall be issued as of the Exchange Date and shall be delivered to the Holder immediately following the Exchange Date.

Method of Exchange. The Exchange Right may be exercised accomplished by the ------------------ Holder by the surrender of this Warrant at the principal office of the Company (the date of such surrender, the "Exchange Date") together with a written statement specifying that the Holder thereby intends to exercise exchange the Exchange RightWarrant for Common Stock, indicating the number of shares subject to this Warrant that are being surrendered (referred to in Section 7.1 hereof as the Exchanged Exchange Warrant Shares) in exercise of the pursuant to such Exchange Right and specifying whether the Holder has elected to pay the exchange price (i) pay an exchange price in shares of Common Stock owned by the Holder (in which case the Holder shall surrender a number of shares having a Fair Market Value equal to the aggregate Warrant Price of the Exchanged Warrant Shares) or (ii) in shares of Common Stock to be issued upon not pay any exchange of this Warrantprice. Certificates for the Shares issuable upon exercise of the an Exchange Right (or any other securities deliverable in lieu thereof under Section 2) shall be issued as of the Exchange Date and shall be delivered to the Holder immediately following the Exchange Date.